This paper considers the meaning of domestic and international systemic risk. It examines scenarios that have been … adduced as creating systemic risk both within countries and among them. It distinguishes between the concepts of real and … pseudo-systemic risk. We examine the history of episodes commonly viewed either as financial crises or as evidencing systemic …

for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …

organize: World War I, Bretton Woods, 1970s Great Inflation and Managed Floating. Each turning point was characterized by …

cross country comparison in the post World War II period of 84 countries arrayed from very low to very high per capita …

the rest of the world rather than focusing on issues with U.S. monetary and fiscal policies. In addition, at the urging of …

? Policy makers of the day thought so. High-frequency bond price data show depreciation was associated with elevated risk …