I The Evolving International Financial Environment -- 1 Global Financial Markets: The Past, The Future, and Public Policy Questions -- 2 The Telecommunications and Information Revolution: Implications for Financial Markets, Trading Systems, and Regulation -- 3 The Financial System and Global...

Prologue -- Using Tax Policy to Curb Speculative Short-Term Trading -- Commentary -- Stock Market Margin Requirements and Volatility: Implications for Regulation of Stock Index Futures -- Commentary -- Margin Requirements and Stock Volatility -- Volatility, Price Resolution, and the...

"This paper examines what transformed a significant, but relatively mild, financial disruption into a full-fledged financial crisis. It discusses why, although the Lehman Brothers bankruptcy was a key trigger for the global financial crisis, three other events were at least as important: the AIG...

"This paper examines what we have learned and how we should change our thinking about monetary policy strategy in the aftermath of the 2007-2009 financial crisis. It starts with a discussion of where the science of monetary policy was before the crisis and how central banks viewed monetary...