In a by now classic article, R.A. Mundell demonstrated that an open economy could maintain internal and external balance without using the exchange rate as a policy tool. This, he showed, could be done by using fiscal policy to produce internal balance, and interest rate policy to produce an...

This paper considers what purposes regulation and supervision of financial institutions are designed to serve. Historical experience with regulation and supervision is considered, and it is argued on the basis of that examination that a fairly ‘light touch’ in regulation is likely to achieve...

"In this book, a historical analysis of the precedents of the euro is examined within the context of the current issues affecting the Eurozone and the long-term effects of the institutional changes implemented since 2010. The book begins by placing the Eurozone challenges in the historical...