An examination of the evolutionary stages of the debt problem in developing countries, with a discussion of how U.S. banks and financial markets have adjusted to accommodate it and some proposed solutions to the problem.

In his paper "Challenges Associated with the Expansion of Deposit Insurance Coverage during Fall 2008" Sebastian Schich of the OECD has written an excellent overview of the current situation of bank deposit insurance in the industrial economies of the world. He finds that, facing a crisis of...

An examination of the aggressive uses of the corporate bankruptcy code from an economic and historical perspective, and some implications for economic competition in the United States.

An analysis of the lessons learned from the 1930s financial rescue mechanism, the Reconstruction Finance Corporation, and a comparison of its structure to that of today's Resolution Trust Corporation.

An exploration of the change in standards for Federal Reserve discount window access by nonbanks encompassed in the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), concluding that although it retrenched the federal financial safety net for undercapitalized insured...

This working paper looks at excess reserves in historical context and analyzes whether they constitute a monetary policy problem for the Federal Reserve System (the "Fed") or a potential-ly inflationary problem for the rest of us. Generally, this analysis shows that both absolute and relative...