After Kahn's death an unpublished manuscript and other writings on the subject of buffer stocks were found among his papers. For Kahn, the crucial issue was that commodity price instability affected seriously (and unnecessarily) not only producers but also consumers and the world economy in...

This paper argues that, despite some significant differences, the 1982 debt crisis, the 1994 Mexican crisis, and the current 1997 East Asian crisis share the common characteristic that 'overlending' and 'overborrowing' are basically endogenous market failures of overliquid and underregulated...