German banks tend to be less profitable than their foreign counterparts. This paper estimates the likely effect of the phaseout of state guarantees for public sector banks, reviews the various ways in which public policy could contribute to their restructuring, and discusses the various...

The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of continuous monitoring of financial systems as a tool for preventing crises. This...

This study examines the challenges and issues facing policymakers in highly dollarized economies. Focusing on Cambodia, which achieved almost complete dollarization during 1991-95, the authors review recent developments in the literature on dollarization and examine the costs and benefits of...