Amid the turmoil in the Eurozone, economic problems in Russia, stagnation in Japan, and rumblings that China may slip into recession, the one reliable asset is the American dollar. While it may encounter ups and downs, investors for decades have been confident that it will never lose a...

Fiscal surveillance was developed as a supranational regulatory process to counteract short-termism and deficit biases in government decision-making. With effective monetary policy to stabilize the economy, restraint on the fiscal discretion of national governments was seen as the key to...

In the aftermath of the 20078 crisis, senior policymakers and the media have blamed excessive risk-taking undertaken by bank executives, in response to their compensation incentives, for the crisis. The inevitable follow-up to this was to introduce stronger financial regulation, in the hope that...