In this unique resource, Nobel Prize winners, former presidential advisers, well-respected columnists, academics, and practitioners from across the political spectrum offer innovative policy ideas and insightful commentary on our most pressing economic issues. These essays take a hard look at...

Abstract

Fifteen years ago, I found it easy to be in favor of international capital mobility — the free flow of investment financing from one country to another. Then it was easy to preach for an end to all systems of controls on capital that hindered this flow. Now it is harder.

Is the U.S. vulnerable to a full-blown dollar crisis? Why are international finance economists scared and jittery, but domestically-oriented macroeconomists much less concerned?