We present a theoretical framework for policy making based on the "impossible trinity" or the "trilemma" hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies - exchange rate stability, financial market...

"Examines the large imbalances in the world economy that contributed to the financial crisis of 2000-09, especially among those economies ordering the Pacific with the large deficits in the United States and the offsetting surpluses in East Asia, and how national policies could be coordinated to...

The global financial crisis has led to a sweeping reevaluation of financial market regulation and macroeconomic policies. Emerging markets need to balance the goals of financial development and broader financial inclusion with the imperative of strengthening macroeconomic and financial...

This book looks at the impact of OECD-country policies on East Asia in a variety of areas: trade, investment, agriculture, finance and aid, as well as macroeconomic policies and regional co-operation. Further, and most importantly, the book examines the interaction of these OECD-country policies...