The international system is still governed by a normative framework designed mainly by OECD countries, especially with regard to soft-law standards in the field of development co-operation. However, the growing relevance of 'Eastern donors' is weakening its efficiency and raises the question of...

In this paper we study the macroeconomic effects of large exchange rate appreciations. Using a sample of 128 countries from 1960-2008, we identify large nominal and real appreciations shocks and study their macroeconomic effects in a dummy-augmented panel autoregressive model. Our results show...

Debt, Deficits and Exchange Rates presents recent work by Helmut Reisen on current international monetary problems in East Asia and Latin America. Written over the last four years, these papers are readily accessible and of immediate policy relevance.

This book explores the international aspects of pension reform, private savings and volatile capital markets and clarifies how they relate to each other. Building the case for the pension-improving benefits of global asset diversification, analysing the implications of financial reform for...