The paper examines the timing of exit from the interwar gold-exchange standard for a panel of European countries, based on monthly data over the period January 1928 - December 1936. I show that exit from gold can be understood in terms of a trade-off between a limited set of factors commonly...

The paper analyzes how the next financial crisis can be prevented and which role the IMF should play. The paper distinguishes between the improvement of existing instruments and solving the moral hazard problem. Both issues are interrelated. The size of operation of the IMF creates a moral...

Financial crises can have a severe impact on the real side of the economy with countries losing up to 20 percent of GDP. The paper studies rules that prevent financial instability and currency crises. These include institutional arrangements for a solid banking system, prudent regulations and...

Rezension: Der Politikwissenschaftler Dieter analysiert detailliert und anspruchsvoll die Finanz- und Wirtschaftskrise in Asien, die er als eines der herausragenden internationalen Ereignisse der letzten zehn Jahre versteht. Er konzentriert sich auf die Entwicklungen in Thailand, Südkorea und...