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Conference Paper
Policy making in an integrated world: from surveillance to ...?
Conference Paper
View from the International Monetary Fund
Journal Article
Statement to Congress, May 21, 1998, (Asian financial crisis).
Journal Article
Commercial bank financing of world payment imbalance
Journal Article
Interview with Anne O. Krueger
The first deputy managing director of the International Monetary Fund discusses currency boards, the resilient world economy and the importance of economic literacy, among other issues, with Minneapolis Fed Research Director Arthur J. Rolnick.
Conference Paper
Reconsidering the international monetary system.
Journal Article
Interview with Stanley Fischer
Working Paper
Policy Interventions in Sovereign Debt Restructurings
The wave of sovereign defaults in the early 1980s and the string of debt crises in the decades that followed have fostered proposals involving policy interventions in sovereign debt restructurings. A key question about these proposals that has proved hard to handle is how they in influence the behavior of creditors and debtors. We address such challenge by incorporating these policy proposals into a quantitative model in the tradition of Eaton and Gersovitz (1981) that includes renegotiation in sovereign debt restructurings. Critically, the model also endogenizes the choice of debt maturity, ...
Journal Article
Bailing out banks?
Journal Article
The international monetary system--retrospect and prospect
During Hayes' tenure as president, the dollar-centered Bretton Woods system of fixed exchange rates matured, then collapsed, prompting a transition to floating exchange rates. In this address, Hayes discusses the development of international cooperation in foreign exchange market intervention and the prospects for reform of the international monetary system. He recommends that countries work together to ensure exchange rate stability, orderly balance-of-payments adjustment, and the financing of imbalances resulting from the first energy crisis.