Abstract We study the conditions under which in a small open economy the labour share in national income may retain a stable value and the significance of primary savings from labour income is maintained. We conclude that the growth of domestic product must not be lower than the real rate of...

Challenges facing central bankers are expertly examined and analyzed. The book explores monetary policy and financial crisis as well as insolvency, collective action clauses, international mediation, and management of central banks. The author has worked as an economist at the Monetary and...

As the global organisation of central banks, the Bank for International Settlements (BIS) has played a significant role in the momentous changes the international monetary and financial system has undergone over the past half century. This book offers a key contribution to understanding these...

1. The founding of the Bank for International Settlements : a "commercial bank," or a "bank for central banks"? -- 2. The Bank for International Settlements and central banks during the 1930s : another anti-depression measure -- 3. On the eve of Bretton Woods : the BIS during World War II -- 4....