Front Cover -- Book Title -- Contents -- Introduction - Lee E. Ohanian and John B. Taylor -- 1. Economic Strength and American Leadership - George P. Shultz -- 2. Uncertainty Unbundled: The Metrics of Activism - Alan Greenspan -- 3. Has Economic Policy Uncertainty Hampered the Recovery? - Scott...

Front Cover -- Book Title -- Copyright -- Contents -- List of Figures -- Preface -- 1. What Caused the Financial Crisis -- 2. What Prolonged the Crisis -- 3. Why the Crisis Worsened Dramatically a Year after it Began -- 4. What Went Right in the Two Decades before the Crisis -- 5. Why a Black...

Front Cover -- Book Title -- Copyright -- Contents -- Preface -- Acknowledgments -- Part I - The Danger of Bailouts and Key Principles of Reform -- 1. Make Failure Tolerable - George P. Shultz -- 2. Financial Reforms to End Government Bailouts as We Know Them - Paul Volcker -- 3. Fifty Years in...

This volume provides a critical evaluation of Anna J. Schwartz's work and probes various facets of the immense contribution of her scholarship-How well has it stood the test of time? What critiques have been leveled against it? How has monetary research developed over the years, and how has her...

This is a timely review of the gold standard covering the 110 years of its operation until 1931, when Britain abandoned it in the midst of the Depression. Current dissatisfaction with floating rates of exchange has spurred interest in a return to a commodity standard. The studies in this volume...

In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the...

In this paper, we examine the IMF''s role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF-supported program, although they may initially...