Lessons from a crisis

Article Abstract:

The International Monetary Fund (IMF) has sought to promote macroeconomic stability in South Korea and Thailand, and both countries are making progress. Indonesia faces more severe problems and has been hit by capital flight, but is also making progress. The IMF has also aided Russia, where the Duma has rejected tax measures, and a devaluation has had to be carried out. The IMF has identified weaknesses in banking systems, but the countries concerned were not always prepared to take action. Interest rate reductions in the US and Europe are welcome, and action is needed to boost the Japanese economy, as well as action in Brazil.

International Monetary Fund, Economic policy

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The unbearable lightness of finance

Article Abstract:

Financial economists represented themselves as practical compared to other economists, and the operation of financial markets has been changed by the work of some of these economists. The financial instability of 1998, however, has undermined the credibility of financial economists. The instability involved a number of events occurring at once that were not expected to happen simultaneously. Financial economists argue that only one aspect of their work has been challenged by the events of 1998.

Research and Development in the Social Sciences and Humanities, Economists, Hedge funds

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Down the hatch

Article Abstract:

Liquidity in global financial markets is examined, including markets for stocks and government bonds.

Liquidity (Finance)

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