The paper builds a simple, micro-founded model of exchange rate management, speculative attacks, and exchange rate determination. The country can pick an ambitious peg in an attempt to signal a strong currency and thereby attract foreign capital or boost future re-election prospects. The peg,...

Classic analyses of sovereign debt make no predictions concerning the allocation of risk between the market and the official sector or among official sector creditors. To open the black box of the composition of a sovereign's foreign liabilities, this paper develops a new framework and...

Weak European institutions bear some responsibility for the current Eurozone crisis. The paper discusses various alleys for reforming European institutions, such as those in charge of monitoring countries and banks. It then discusses the future of solidarity within the Eurozone, as well as...

Classic analyses of sovereign debt make no predictions concerning the allocation of risk between the market and the official sector or among official sector creditors. To open the black box of the composition of a sovereign's foreign liabilities, this paper develops a new framework and...

A key role of standard setting organizations (SSOs) is to aggregate information on relevant intellectual property (IP) claims before deciding on a standard. This article explores the firms' strategies in response to IP disclosure requirements—in particular, the choice between specific and...

A key role of standard setting organizations (SSOs) is to aggregate information on relevant intellectual property (IP) claims before deciding on a standard. This article explores the firms' strategies in response to IP disclosure requirements — in particular, the choice between specific and...