Given that financial markets operate as a Keynesian beauty contest and the real economy has no automatic tendency to converge to full-employment growth, then the simple rules of the game embodied in the policy positions believed by market participants to be held by other market participants will...

During the 1970s, when doctrines like monetarism and new classical macroeconomics ushered in an era of neoliberal economic policymaking, Keynesian economics was pushed aside. It was almost forgotten that when Keynesian thinking had dominated economic policymaking in the middle decades of the...

The book sets forth the economic rationale for international financial regulation and what role, if any, international regulation can play in effectively managing systemic risk while providing accountability to all affected nations. The book suggests that a particular type of global governance...

This title is comprised of 19 commissioned articles which are mainly focused on the timely global issues of volatility in equity and foreign exchange markets and the regulatory scene in developed and emerging markets. The papers provide a cutting-edge overview of general issues regarding world...