All the contents
Year 2008
Year 2007
Year 2006
Features
Assessing the new flows. An Africa story, too. Story behind the story. Policy implications. References.
A Crisis of Confidence...and a Lot More
Better incentives for all market players hold the key to greater financial stability. A tale of unraveling. What is structured finance?. Liquidity dries up. Making matters even worse. Incentives, Incentives, Incentives. References.
Covering risks. Capturing complexities. Hurting or helping the turmoil?. Procyclicality debate. Adequate capital. A work in progress.
How Much Decoupling? How Much Converging?
Business cycles may well be converging among industrial and emerging market economies, but the two groups appear to be decoupling from each other. Measuring business cycles. What matters for business cycles?. Changing patterns. Shedding light on the results. Tie-in to current financial crisis.
In Sight, but Not Yet within Reach
Half full or half empty?. Getting back on track. Crucial year.
Outbreak: U.S. Subprime Contagion
Any of the myriad problems in the U.S. mortgage market could have been contained, but together they caused a crisis that spread across the globe. The U.S. subprime loan virus. The virus spreads. Resistance: Not all surprises were bad. Some possible cures. A stubborn strain. References.
For foreign exchange intervention to work, central banks would need to act together. Types of channels. Some intervention choices. What the record shows. Suggestions for further reading.
Point of View
Asia: A perspective on the Subprime Crisis
Early warning signals. Recurring problems. Different policy responses. Learning from Asia. So far, so good for Asia. But it still faces risks. Subprime lessons for Asia. References.
Will Basel II Help Prevent Crises or Worsen Them?
1. Banking on the Right Path. Is procyclicality exacerbated?. Consider accounting rules. References. 2. Sending the Herd over the Cliff. Again. Risk sensitivity introduced. Risk and the Asian crisis. Promoting bad banking. References.
Departments
Melting Mountains. Counting the Cash. Greater Voice at the Fund. Smaller is Better. More Women Working. Events in 2008.
People in Economics
A Legacy of Model Elegance - James L. Rowe profiles macroeconomist Jacques Polak
The Great Depression. Planning for war's end. Joining an Infant IMF. The Polak Model. Not your average retirement. The economics of Scrabble. References.
Back to Basics
Over-the-Counter Markets: What Are They?
Trading on an exchange. Trading over the counter. OTC markets and the financial crisis.
Picture This
The VAT in Developing and Transitional Countries
A better choice.
The Logic of Life: The Rational Economics of an Irrational World
Bridging the Technology Divide
Closing the gap.
Country Focus
Straight Talk
The global version. It's the food and the oil. It's all connected. Three channels. Risky business.
