This volume examines the implications of greater financial integration on the international monetary and financial system, and how it should be reformed. Various experts consider the most disruptive manifestations of instability and the appropriate policy responses, including exchange rate...

Intro -- Contents -- Preface -- Acknowledgments -- Abbreviations -- Contributors -- PART I. KEY ISSUES OF REFORM -- 1 Overview -- 2 International Financial and Monetary Stability: A Global Public Good -- PART II. MAINTAINING STABILITY UNDER HIGH CAPITAL MOBILITY -- 3 The Euro, Yen, and Dollar:...