The rapid growth of regional trading relationships in Europe, Asia, and Latin America has raised policy concerns about their impact on excluded countries and on the global trading system. Some observers worry that the multilateral system may be fracturing into discriminatory regional blocs....

Following the Versailles G-7 summit of 1982, most government officials and academic analysts downplayed the potential impact of exchange market intervention unless such intervention was permitted to affect national monetary policies. This study challenges the conventional wisdom. Using...

Under the direction of Nobel laureate Robert A. Mundell and Paul J. Zak, eminent contributors to Monetary Stability and Economic Growth offer a unique insight into the way that economists analyse the causes of money (mis) management in the US, Latin America, Europe and Japan, and prescribe...

<DIV>The <I>NBER International Seminar on Macroeconomics</I> brings together leading American and European economists to discuss a broad range of current issues in global macroeconomics. An international companion to the more American-focused <I>NBER Macroeconomics Annual</I>, the distinguished ISoM has met...</i></i></div>

<DIV>The foreign exchange market is the largest, fastest-growing financial market in the world. Yet conventional macroeconomic approaches do not explain why people trade foreign exchange. At the same time, they fail to explain the short-run determinants of the exchange rate. <BR><BR>These nine innovative...</div>

<DIV>Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations,...</div>

<DIV><P>The distinguished International Seminar on Macroeconomics has met annually in Europe for thirty years. The papers in the 2007 volume discuss interest-setting and central bank transparency; expectations, monetary policy, and traded good prices; public investment and the golden rule; the role of...</p></div>

<DIV>This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more...</div>

<DIV>Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Both pervasive and controversial, regionalization has some economists optimistic about the opportunities it creates and others fearful that...</div>

<DIV>As Japan's newfound economic power leads to increased political power, there is concern that Japan may be turning East Asia into a regional economic bloc to rival the U.S. and Europe. In <I>Regionalism and Rivalry</I>, leading economists and political scientists address this concern by looking at three...</i></div>