scholarly journals TIROLE, Jean, 2002. Financial Crises, Liquidity and the International Monetary System, New Jersey: Princeton University Press, 151 pp.

2001 ◽  
pp. 207-211
Author(s):  
Jorge Fernández-Baca
2004 ◽  
Vol 42 (4) ◽  
pp. 1094-1097 ◽  
Author(s):  
Stanley Fischer

This is a review article of two books: Financial Crises and What to Do about Them by Barry Eichengreen (Oxford University Press 2002) and Financial Crises, Liquidity, and the International Monetary System by Jean Tirole (Princeton University Press 2002).


2001 ◽  
Vol 10 (1) ◽  
Author(s):  
Jiří Jonáš

In this article, I would first discuss briefly what we know about the causes of the recent financial crises, and whether the International Monetary Fund (IMF) could have done more to prevent them. I will explain what policy strategies the IMF recommended to resolve these crises, why it recommended these policies, and to what extent is the criticism of these recommendations justified. In the second part, I will discuss the lessons which the IMF has drawn from these crises. I will explain how the experience of recent years has changed the thinking about the proper role of the IMF in supporting stable international monetary system. I will focus on two broad areas of changes in the activity of the IMF. First, on measures that are being taken to make the repetition of financial crises less likely; second, on measures to be applied if the prevention fails and if a financial crisis strikes again.


2021 ◽  
Vol 13 (4) ◽  
pp. 18
Author(s):  
Arnaud DIEMER

From 1945 to the end of his life, Maurice Allais, Nobel Prize Laureate in Economics (1988), devoted a large part of his work to the European question. As a staunch Unionist, Allais insisted on the fact that, while the threefold freedom of goods, people and capital was necessary to improve the well-being of individuals, it was also a very ambitious goal. Thus, he argued, it was necessary to promote a European federalism on the basis of a scientific criterion: economic democracy—and via an organized method: competitive planning. However, Allais was aware that political integration had to precede economic integration and that economic efficiency could not be ensured without a single currency. He argued that the introduction of the euro had to be accompanied by real monetary reform (credit system, indexation of future commitments, stock markets, international monetary system) in order to regulate the multiplication of financial crises.


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