This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...

Crises, change, and productive incoherence -- Introduction: contesting continuity -- Productive incoherence : a hirschmanian perspective -- Setting the stage -- The east asian financial crisis and neoliberalism : the beginning of the end of a unified regime -- The global crisis and innovations...

Contents: 1. Introduction and summary -- Part I: the unraveling of the 1930s-era framework -- 2. The Euro market erodes US financial structure -- 3. Commercial paper guarantees and the emergence of a parallel banking system -- 4. ERISA moves savings into securities markets -- Part II:...