Main description: This book proposes a new framework for explaining and anticipating foreign economic policy changes, at the same time providing a fascinating account of three American policy shifts that transformed the postwar international monetary system.Originally published in 1982.The...

The world economy has gained traction in the course of 2016 despite elevated policy uncertainty and seems to have picked up further in the beginning of 2017. The change in the US government apparently has led to expectations of substantial policy stimulus, while a competitive valuation of...

We show that dealer market power impedes the pass-through of monetary policy in repo markets, which is an important first stage of monetary policy transmission. In the European repo market, most participants do not have access to trade on centralized exchanges. Rather, they rely on OTC...