Given that a financial crisis in the capital and foreign exchange markets, caused by a sudden loss of confidence, has taken place, how are the effects transmitted to the real economy? Why must such a crisis cause a recession, or even a depression? How can such transmission to the real economy be...

The International Monetary Fund (henceforth "the IMF" or "the Fund") was conceived at a conference at the Mount Washington Hotel in Bretton Woods, New Hampshire, in July 1944 and its Articles of Agreement entered into force in December 1945. The World Bank (henceforth "the Bank") was set up at...