With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history. But how much influence can the

Nations with credible monetary regimes borrow at lower interest rates in international markets and are less likely to suffer speculative attacks and currency cr

Access to credit is an important means of providing people with the opportunity to make a better life for themselves. Loans are essential for most people who wa

The Prudential Regulation of Banks applies modern economic theory to prudential regulation of financial intermediaries. Dewatripont and Tirole tackle the key pr

Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by the U.S. authorities in 2009 in the form