The concept of ‘currency wars’ has come into popular use in recent years. This article examines various meanings of the phrase and its historical antecedents. It goes on to discuss why currency wars have become the focus of attention and the economic policy weapons that may be used...

Recognition that official classifications of exchange rate regimes are often misleading has led to considerable interest in behavioral measures. Many of these measures are related to the concept of exchange market pressure that shows how policy interventions affect how much a given change in...

In this paper we present a point voting system with declining weights on votes Abstract for the representation of spillover interests among governments in a federalist system. In theory our model represents a formalization in terms of voting of Musgrave's proposal of varying benefit taxes to...

Large global economic and financial imbalances have already contributed to the global financial crisis and the euro zone crisis. A substantial retreat into protectionism may be generated. Huge current account surpluses and deficits have caused economic and financial dislocations in both emerging...

Purpose – The purpose of this paper is to stress the role that several defective theories or views of the world played in generating the subprime financial crisis. Design/methodology/approach – This is done by describing these views, showing that they were widely held by relevant decision...

This paper discusses a number of major factors that led to the euro crisis and the failure of officials to deal with it effectively. It is argued that a good deal of these deficiencies in policy can be explained by a combination of faulty mental models, time-inconsistency problems, and cognitive...

The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features...