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This paper formally identifies an important role of banks: Banks competitively internalize...

This paper studies how macroeconomic policies can help offset two unintended and undesirable...

This paper examines the role of IMF-supported programs in crisis prevention; specifically,...

China has achieved tremendous economic progress in the last three decades, but there is much work...

Two economists designed the main features of the charter of the IMF during World War II: John...

In this paper, we develop a proposal for a controlled approach to capital account liberalization...