Financial crises precede deep and prolonged recessions. Political leaders face enormous challenges when confronting such dire economic situation, and they frequently have to face the possibility of losing power. In order to avoid this outcome, democratic and autocratic leaders may use war as a...

This paper argues that transparency-boosting measures specifically tailored to commodity and commodity derivatives markets are much needed. In particular, encouraging the creation of a clearing infrastructure for OTC commodity and commodity derivatives markets would be desirable. Moreover, EU...

Credit ratings are a quasi-public good, and investors and financial markets regulators need an independent assessment of the credit-worthiness of an issuing entity because of information asymmetries and principal agent problems. In light of the high volatility of market-based measures and the...

This paper argues that transparency-boosting measures specifically tailored to commodity and commodity derivatives markets are much needed. In particular, encouraging the creation of a clearing infrastructure for OTC commodity and commodity derivatives markets would be desirable. Moreover, EU...

This article seeks to demonstrate the stability of US-China monetary relations before and after the 2007-09 financial crisis. Domestic and international factors make the disruption of the US-China monetary relation extremely unlikely. On the domestic side, China faces a delicate political...