Within currency unions, the conventional wisdom is that there should be a high degree of macroeconomic synchronicity between the constituent parts of the union. But this conjecture has never been formally tested by comparing sample of monetary unions with a control sample of countries that do...

By 2031, it will be a century since the Great Depression, touted as the most dreadful depression in the history of U.S. and the rest of the world, had taken place. In the final decades of last century and in the early years of this century, numerous financial crises and economic depressions, not...