As its central feature, a bimetallic standard grants nominal debtors an option to deliver either of two metals. With results from the option pricing literature,construction of a formula to evaluate the bimetallic option in debt instruments is straightforward. With this formula, one can compute...

Prudential regulation is intended to channel capital inflows through institutions most likely to make sound investment decisions. The paper presents examples of prudential regulation in two countries, Mexico and Hong Kong, where capital was suddenly withdrawn in a test of the financial system....

Though it is always mentioned first among the list of obvious manias, no serious effect has ever been expended to investigate the market fundamentals that might have driven the tulip speculation. The paper compiles time series on individual tulip prices and examines market fundamentals...