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Journal Article
NAFTA and U.S. banking
Working Paper
Is money still useful for policy in East Asia?
Since the East Asian crises of 1997, a number of East Asian economies have allowed greater exchange rate flexibility and abandoned monetary targets in favor of inflation targeting, apparently because the perceived usefulness of money as a predictor of inflation, i.e. the information content of money, has fallen. In this paper, we discuss factors that are likely to have influenced the stability of the relationship between money and inflation, particularly in the 1990s, and then assess this relationship in a set of East Asian economies. We focus on (1) the stability of the behavior of the ...
Journal Article
Depreciations and recessions
Journal Article
Reforming China's banking system
Journal Article
Financial developments in Korea
Journal Article
The debt problem: evolution and prospects
Journal Article
LDC debt swaps
Working Paper
Capital flows and monetary policy in East Asia