Concern about unsustainable payments imbalances in the global economy has prompted renewed interest in international monetary reform. This paper describes and evaluates six reform proposals that focus on strengthening the institutional framework for the current system. Some of these proposals...

The Handbook of International Banking provides a clearly accessible source of reference material, covering the main developments that reveal how the internationalization and globalization of banking have developed over recent decades to the present, and analyses the creation of a new global...

Belief in the efficient markets hypothesis and the adoption of capital requirements for banks as the macro-prudential tool most compatible with market forces replaced the Federal Reserve's earlier commitment to using the link between open market operations and changes in reserve requirements to...

The global financial and economic crisis has prompted renewed interest in international monetary reform. The key-currency status of the US dollar has been challenged but discussion of what might be reasonable objectives and institutional structures for a new system has not yet broken new ground....

Aging populations have altered saving and investment patterns in many developed and emerging market economies. The structural changes that have occurred have important implications for financial stability and for the conduct of monetary policy. As assets and borrowing shifted from banks to...