This article proposes pragmatic methods that incorporate recent contributions to public good theory to identify the members of the international club and how they select new members. This article also suggests simple applications to the recent problems in international clubs such as the euro and...

This article uses Hong Kong stock market's four sub-indices to examine the existence and causes of rational expectation bubbles. The unit root test is applied to the rational bubble hypothesis. Various causality test methods are used to examine the causality of bubble among the four sub-indices....

Under the International Monetary Fund (IMF)'s recently developed pragmatic response, the amount a member can borrow is not determined by its quota. We consider two pragmatic responses that produce a Pareto improvement, compared with the IMF rule: one mandated by the IMF and the other related to...