< partial and incomplete >

General

Dabrowski, M. [forthcoming]: “Is there a room for a national monetary policy in the era of globalization?”, in: B. Slay and M. Dabrowski (eds.): Beyond Transition, M. E. Sharpe, Inc., forthcoming

Eichengreen, Barry (1996): Globalizing Capital: A History of the International Monetary System, Princeton University Press.

Goodhart, Charles A.E. 1995. The Central Bank and the Financial System, MIT Press, Cambridge.  

Lane, P. (1999). "The New Open Economy Macroeconomics: A Survey." 

Rodrik, Dani (1999). Governing the Global Economy: Does One Architectural Style Fit All?  

Central bank independence

Albanesi, S., V.V. Chari, and L.J. Christiano (2001). "How Severe is the Time Inconsistency Problem in Monetary Policy?" NBER Working Paper 8139 (Feb.).

Alesina, Alberto and Lawrence Summers (1993). "Central Bank Independence and Macroeconomic performance: Some Comparative Evidence," Journal of Money, Credit, and Banking, Vol. 25, No. 2 (May), pp. 151-162.

Alesina, Alberto and Roberta Gatti (1995). "Independent Central Banks: Low Inflation at No Cost?" American Economic Review, Vol. 85, No. 2 (May), pp. 196-200.

al-Nowaihi, A. and P. Levine (1994). "Can Reputation Resolve the Monetary Policy Credibility Problem?" Journal of Monetary Economics 33, 355-380.

Bagheri, F.M. and N. Habibi (1998), "Political Institutions and Central Bank Independence: A Cross-country Analysis," Public Choice 96, 187-204.

Barro, R. J. and D. Gordon (1983). "Rules, Discretion, and Reputation in a Positive Model of Monetary Policy," Journal of Monetary Economics, 12, 101-121.

Bernhard, William, Lawrence Broz and William Roberts Clark (2002). "The Political Economy of Monetary Institutions: An Introduction," International Organization, 56:4 (Fall), pp. 693-723.

Berger, Helge, Jakob de Haan, and Sylvester C.W. Eijffinger (2001). "Central Bank Independence: An Update of Theory and Evidence," Journal of Economic Surveys, pp. 3-40.

Campillo, Marta and Jeffrey A. Miron (1997). "Why does Inflation Differ Across Countries?" In C.D. Romer and D.H. Romer (eds.), Reducing Inflation: Motivation and Strategy [Chicago: University of Chicago Press].

Clark, William Roberts (2000). "Capital Mobility, Central Bank Independence, and Political Control of the Economy" (NYU, Dept of Politics). 

Crosby, M., 1998. "Central Bank Independence and Output Variability," Economics Letters, 60, 67-75.

Cukierman, A. (1992). Central Bank Strategy, Credibility, and Independence. Cambridge, MA: MIT Press.

Cukierman, A., S.B. Webb and B. Neyapti (1992). "Measuring the Independence of Central Banks and Its Effects on Policy Outcomes," World Bank Economic Review, 6, 353-398.

Cukierman, A. and S.B. Webb (1995). "Political Influence on the Central Bank: International Evidence," World Bank Review 9, 397-423. 

De Haan, J. and van‘t Hag, G.J. (1995). "Variation in Central Bank Independence Across Countries: Some Provisional Empirical Evidence," Public Choice 85, 335-351.

Eijffinger, S.C.W. and M. Hoeberichts (1998). "The Trade Off between Central Bank Independence and Conservativeness," Oxford Economic Papers, 50, 397-411.

Eijffinger S.C.W., M. van Rooij and E. Schaling (1997). "Central Bank Independence: A Panel Data Approach," Public Choice, 89, 163-182.

Forder, J. (1996). "On the Assessment and Implementation of `Institutional' Remedies," Oxford Economic Papers, 48, 39-51.

Forder, J. (1998a). "Central Bank Independence – Conceptual Clarifications and an Interim Assessment," Oxford Economic Papers, 50, 307-334.

Forder, J. (1998b). "The Case for an Independent Central Bank: A Reassessment of Evidence and Sources," European Journal of Political Economy, 14, 53-72.

Forder, J. (1999). "Central Bank Independence: Reassessing the Measurements," Journal of Economic Issues, 33, 23-40.

Fry, M.J. (1998). "Assessing Central Bank Independence in Developing Countries: Do Actions Speak Louder Than Words?" Oxford Economic Papers, 50, 512-529.

Fuhrer, J.C. (1997). "Central Bank Independence and Inflation Targeting: Monetary Policy Paradigms for the Next Milennium?" New England Economic Review, 1/2, 19-36.

Grilli, V., D. Masciandaro and G. Tabellini (1991). "Political and Monetary Institutions and Public Financial Policies in the Industrial Countries," Economic Policy, No. 13, 341-392.

Haan, J. de and G.J. van 't Hag (1995). "Variation in Central Bank Independence Across Countries: Some Provisional Empirical Evidence," Public Choice 85, 335-351.

Haan, J. de and W. Kooi (2000). "Does Central Bank Independence Really Matter? New Evidence for Developing Countries Using a New Indicator," Journal of Banking and Finance, 24, 643-664.

Hayo, Bernd (1998). "Inflation Culture, Central Bank Independence and Price Stability," European Journal of Political Economy 14, 241-263.

Hayo, Bernd and Carsten Hefeker (2001). "Do We Really Need Central Bank Independence? A Critical Re-examination." 

Herrendorf, B. (1998). "Inflation Targeting as a Way of Precomitment," Oxford Economic Papers, 50, 431-448.

Herrendorf, B. and B. Lockwood (1997). "Rogoff’s ‘Conservative’ Central Banker Restored," Journal of Money, Credit, and Banking, 29, 476-495.

Loungani, K.P. and N. Sheets (1997). "Central Bank Independence, Inflation, and Growth in Transition Economies," Journal of Money, Credit, and Banking, 29, 381-399.

Lohmann, S. (1992). "Optimal Commitment in Monetary Policy: Credibility versus Flexibility," American Economic Review 32, 273-286.

Mangano, G. (1998). "Measuring Central Bank Independence: A Tale of Subjectivity and of its Consequences," Oxford Economic Papers 50, 468-492.

Maxfield, S. (1997). Gatekeepers of Growth, The International Political Economy of Central Banking in Developing Countries (Princeton, Princeton University Press).

McCallum, B. (1995). "Two Fallacies Concerning Central-bank Independence," American Economic Review 82, 273-286.

Moser, P. (1999). "Checks and Balances, and the Supply of Central Bank Independence," European Economic Review 43, 1569-1593.

Posen, A.S. (1993). "Why Central Bank Independence Does Not Cause Low Inflation." In R. O’Brian (ed.), Finance and the International Economy 7, The Amex Bank Review Prize Essays, Oxford: Oxford University Press, 40-65.

Posen, A. (1995). "Declarations are not Enough: Financial Sector Sources of Central Bank Independence." In B. Bernanke and J. Rotemberg (eds.), NBER Macroeconomic Annual 1995, Cambridge: MIT Press.

Posen, A. (1998). "Central Bank Independence and Disinflationary Credibility. A Missing Link?" Oxford Economic Papers 50, 335-359.

Posen, Adam S. (2002). "Six Practical Views of Central Bank Transparency," Institute for International Economics (May). 

Rogoff, K. (1985). "The Optimal Degree of Commitment to an Intermediate Monetary Target," Quarterly Journal of Economics, 100, 1169-1190.

Sikken, B.J. and J. de Haan (1998). "Budget Deficits, Monetization and Central-Bank independence in Developing Countries," Oxford Economic Papers 50, 493-511.

Spiegel, M.M. (1998). "Central Bank Independence and Inflation Expectations: Evidence from British Index-linked Gilts," FRB of San Francisco Economic Review, No. 1, 3-14.

Sturm, J-E. and J. de Haan (2001). "Inflation in Developing Countries: Does Central Bank Independence Matter? New Evidence Based on a New Data Set." <their new turnover variable is available here>

Temple, J. (1998). "Central Bank Independence and Inflation: Good News and Bad News," Economics Letters 61, 215-219.

Walsh, C.E. (1997). "Inflation and Central Bank Independence: Is Japan Really an Outlier?" Bank of Japan Monetary and Economic Studies 15, 89-117.

Financial crises [including banking]

Caprio, Gerard Jr., and Daniella, Klingebiel 1996. “Bank Insolvencies: Cross Country Experience”, Policy Research Paper No. 1620, World Bank, Washington D.

Demirguc-Kunt, Asli, and Enrica Detragiache (1997), The Determinants of Banking Crises: Evidence from Developing and Developed Countries, IMF Working Paper 97/106, Washington D.C.: International Monetary Fund, September 1997.

Demirguc-Kunt, Asli and Detragiache, Enrica 1998. “The Determinants of Banking Crises in Developing and Developed Countries”, IMF Staff Papers, Vol. 45, No. 1, IMF, Washington D.C.

Demirgüç-Kunt, Aslı and Detragiache, Enrica 2000. “Does Deposit Insurance Increase Banking System Stability?”, IMF Working Paper 2000/03.

Demirgüç-Kunt, Aslı and Detragiache, Enrica 2001. “Financial Liberalization and Financial Fragility”, in Financial Liberalization: How Far, How Fast, edited by Gerard Caprio, Patrick Honohan and Joseph E. Stiglitz, Cambridge University Press, Cambridge, 96-122.

Frankel, Jeffrey A., and Andrew K. Rose (1996), Currency Crashes in Emerging Markets: Empirical Indicators, NBER WP no.5437, Cambridge, Massachusetts: National Bureau of Economic Research, January 1996.

Freixas, Xavier; Giannini, Curzio; Hoggarth, Glenn; Soussa, Farouk  2000. ”Lender of Last Resort: What Have We Learned Since Bagehot?”, Journal of Financial Services Research, 18:1, 63-84.

Freixas, Xavier; Parigi, Bruno M.; Rochet, Jean-Charles 2000. “Systemic Risk, Interbank Relations, and Liquidity Provisions of the Central Bank”, Journal of Money, Credit, and Banking, Vol. 32, No. 3, 611-638.

Garcia-Herrero, Alicia (1997), Banking Crises in Latin America in the 1990s: Lessons from Argentina, Paraguay, and Venezuela, IMF Working Paper 97/140, Washington D.C: International Monetary Funds, October 1997.

Goldstein, Morris, and Philip Turner (1996), Banking Crises in Emerging Economies: Origins and Policy Options, BIS Economic Papers no. 46, Bank for International Settlements, Monetary and Economics Department.

Gonzales-Hermosillo, Brenda, Ceyla Pazarbasioglu, and Robert Billings (1997), Determinants of Banking System Fragility: A Case Study of Mexico, IMF Staff Papers vol. 44, no. 3, pp. 295 – 314, Washington D.C: International Monetary Funds.

Hardy, Daniel, and Pazarbasioglu, Ceyla 1998. Leading Indicators of Banking Crises: Was Asia Different?, IMF Working Paper 1998/91, Washington D.C.

Hellmann, Thomas F., Murdock, Kevin C., and Stiglitz, Joseph E 2000. “Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?”, American Economic Review, March, 147-163.

Honohan, Patrick (1997), Banking System Failures in Developing and Transition Countries: diagnosis and Prediction, BIS WP no. 39, Bank for International Settlements, Monetary and Economics Department.Institute for Economic and Social Research, Faculty of Economics, University of Indonesia (LPEM-U).

Kaminsky, Graciela L., and Reinhart, Carmen M. 1999. “The Twin Crises: The Causes of Banking and Balance-of-Payments Problems”, The American Economic Review,Vol.89, No.3, 471-500.

Mishkin, F.S. (1996), Understanding Financial Crises: A Developing Country Perspective, NBER WP no.5600, Cambridge, Massachusetts: National Bureau of Economic Research.

Mondschean, Thomas S. and Opiela, Thiomothy P. 1999. “Bank Time Deposit Rates and Market Discipline in Poland: The Impact of State Ownership and Deposit Insurance Reform”, Journal of Financial Services Research, 15:3, 179-196.

Rossi, Marco, 1999. Financial Fragility and Economic Performance in Developing Economies: Do Capital Controls, Prudential Regulation and Supervision Matter?, IMF Working Paper 1999/66.

Sachs, Jeffrey, Aaron Tornell, and Andres Velasco (1996), Financial Crises in Emerging Markets: The Lessons from 1995, NBER WP no. 5576, Cambridge, Massachusetts: National Bureau of Economic Research, May 1996.

Sundararajan, V., and Baliiio, T. (Eds.), 1991, Banking Crises: Cases and Issues, Washington: International Monetary Fund.

Talley, Samuel H., and Mas, Igracio 1990. “Deposit Insurance in Developing Countries”, The World Bank Policy, Research, and External Affairs Working Paper No. 548, World Bank, Washington D.C.  

World Bank conference on deposit insurance [June 2000]

World Bank data base on deposit insurance    

Quote from F.D. Roosevelt, “On the Banking Crisis” (March 12, 1933):

It needs no prophet to tell you that when the people find that they can get their money -- that they can get it when they want it for all legitimate purposes -- the phantom of fear will soon be laid. People will again be glad to have their money where it will be safely taken care of and where they can use it conveniently at any time. I can assure you that it is safer to keep your money in a reopened bank than under the mattress.

                 http://www.americanrhetoric.com/speeches/fdrfirstfiresidechat.html

Currency [general]

Bayoumi, Tam and Barry Eichengreen (1996). "Operationalizing the Theory of Optimum Currency Areas." CEPR Discussion Paper 1484 (Oct.). 

McCallum, Bennett T. (1999). "Theoretical Issues Pertaining to Monetary Unions," NBER Working Paper, No. 7393 (Oct.).

Obstfeld, Maurice (1994): “The Logic of Currency Crisis”, NBER Working Paper, No. 4640, September

Rose, A. K. [2000]: “One Money, One Market: Estimating the Effect of Common Currencies on Trade”, Economic Policy, vol. 15, No. 30 (April), pp. 7-46.  

Alesina, Alberto and Robert Barro (2002). “Currency Unions,” Quarterly Journal of Economics, Vol. 117, No. 2 (…), pp. 409-436.

_____________________________, and Silvana Tenreyro (2003), “Optimal Currency Areas.” In Mark Gertler and Kenneth Rogoff, eds., NBER Macroeconomic Annual 2002. Cambridge, MA: MIT Press.

Allaire et al. (1999). “Dissenting views on target zones for the G-3 currencies.” In Safeguarding Prosperity in a Global Financial System: The Future International Financial Architecture. Report of an Independent Task Force of the Council on Foreign Relations. New York. http://www.fe.unl.pt/~jbmacedo/courses/novaforum/IFATaskForce.html

Antweiler, Werner (2002). “Currencies of the World,” University of British Columbia (Nov. 4). Accessed on 8/1/2003 at: http://pacific.commerce.ubc.ca/xr/currency_table.html.

Arize, A., T. Osang, and D. Slottje (2000). “Exchange rate volatility and foreign trade: Evidence from thirteen LDCs,” Journal of Business and Economics Statistics, Vol. 18, No. 1.

Baccheta, P. and E. van Wincoop (1998). “Does Exchange Rate Stability Increase Trade and Capital Flows?” Federal Reserve Bank of New York, Working Paper No. 9818.

____________________________ (2000). “Does Exchange Rate Stability Increase Trade and Welfare?” American Economic Review, Vol. 90, No. 5, pp. 1093-1109.

____________________________ (2002). “A Theory of the Currency Denomination of International Trade.” Federal Reserve IFDP Working Paper No. 747 (July).

Baliño, Tomás J., Adam Bennett, and Eduardo Borensztein (1999). “Monetary Policy in Dollarized Economies.” IMF Occasional Paper 171.

Bank for International Settlements (2002). Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity 2001: Final Results. http://www.bis.org/publ/rpfx02t.pdf

Barro, Robert J. (1999).  “Let the Dollar Reign From Seattle to Santiago,” Wall Street Journal, Mar. 8,  A.18

_____________ and David B. Gordon (1983). “Rules, Discretion, and Reputation in a Model of Monetary Policy,” Journal of Monetary Economics, Vol. X, No. y (July), pp. 101-121.

Bartley, Robert L. (2003). “Does the Global Economy Need a Global Currency?” Wall Street Journal (June 30). [reports on conference hosted by Mundell]

Beddoes, Zanny Minton (1999). “The international financial system,” Foreign Policy, Iss. 116 (Fall), pp. 16-27.

Bergsten, C. Fred (1997), “The Impact of the Euro on Exchange Rates and International Policy Cooperation,” in Paul Masson, Thomas Krueger and Bart Turtelboom, eds., EMU and the International Monetary System. Washington, D.C.: International Monetary Fund, pp. 17-48.

Bernanke, Ben and Frederic Mishkin (1997). “Inflation Targeting: A New Framework for Monetary Policy?” Journal of Economic Perspectives, Vol. 11, No. 2 (Winter), pp. 97-116.

_____________, Thomas Laubach, Frederic Mishkin, and Adam Posen (1999). Inflation Targeting: Lessons for International Experience. Princeton, NJ: Princeton University Press.

Bindseil, Ulrich (2001). “A Coalition-Form Analysis of the ‘One-Country-One-Vote’ Rule in the Governing Council of the European Central Bank,” International Economic Journal, Vol. 15, No. 1 (Spring), pp. 141-164.

Bird, Graham (1979). “The Benefits of Special Drawing Rights for Less Developed Countries,” World Development. Vol. 7, No. 3 (March), pp. 281-90.

_________________ (1988). “An Analysis of the Welfare Gains from Special Drawing Rights.” In Graham Bird, Managing global money: Essays in international financial economics. London: Macmillan Press, pp. 115-23. <Previously Published: 1978.>

Black, S. W. (1991). ‘Transaction costs and vehicle currencies,’ Journal of International Money and Finance, vol. 10, pp. 512-526.

Bogetic, Zeljko (2000). “Seigniorage sharing under dollarization,” Central Banking, Vol. 10, No. 4, p. 77-87.

Boughton, James M. (1992). “The CFA Franc: Zone of Fragile Stability in Africa,” Finance & Development,  Vol. 29, No. 4 (Dec.), pp. 34-36.

Broda, Christian (2001). “Terms of Trade and Exchange Rate Regimes in Developing Countries,” American Economic Review, May.

_____________ and John Romalis (2003). “Identifying the Effect of Exchange Rate Volatility on the Composition and Volume of Trade.” University of Chicago, Graduate School of Business (July). http://gsbwww.uchicago.edu/fac/john.romalis/research/erv_trade.pdf

Buiter, Willem H. (2000). “Optimal Currency Areas: Why Does the Exchange Rate Regime Matter?” CEPR Discussion Paper: 2366 (Jan.).

Caballero, Ricardo and Victorio Corbo (1989). “The Effect of Real Exchange Rate Uncertainty on Exports: Empirical Evidence,” World Bank Economic Review, Vol. 3, pp. 263-278.

Calvo, Guillermo, Leonard Leiderman, and Carmen Reinhart (1996). “Inflows of Capital to Developing Countries in the 1990s,” Journal of Economic Perspectives, Vol. 10, No. 2 (Spring), pp. 126-.

Camdessus, Michel (1999). “International Financial and Monetary Stability: A Global Public Good?” Remarks at the IMF/Research Conference on Key Issues in Reform of the International Monetary and Financial System, Washington, D.C. (May).

Canzoneri, Matthew B., Robert E. Cumby, Behzad T. Diba (2002). “The Need for International Policy Coordination: What's Old, What's New, What's Yet to Come?” NBER Working Paper No. 8765 (Feb.).
 

__________________, Vittorio U. Grilli, and Paul R. Masson, eds. (1992). Establishing a Central Bank: Issues in Europe and Lessons from the US. Cambridge, UK: Cambridge University Press.

__________________, and Carol Ann Rogers (1990). "Is Europe an Optimal Currency Area?" American Economic Review, Vol. 80 (June), pp. 419-33.

Chang, Roberto and Andres Velasco (2002). “Dollarization: Analytical Issues.” NBER Working Paper No. 8838 (March).

Chowdhury, A.R. (1993). “Does Export Volatility Depress Trade Flows? Evidence from Error-

Correction Models,” Review of Economics and Statistics, Vol. 74, No. 4 (…), pp. 700-6.

Chrystal, K. Alec (1977). “Demand for International Media of Exchange,” American Economic

Review, Vol. 67, No. 5. (Dec.), pp. 840-850.

Clarida, Richard (1999). “G-3 exchange rate relationships: A recap of the record and a review

of proposals for change.” NBER Working Paper 7434 (Dec).

______________, Jordi Galí and Mark Gertler (2002). “A simple framework for international

monetary policy analysis,” Journal of Monetary Economics, Vol. 49, Iss. 5 (July), pp.

879-904.

Cohen, Benjamin (2002). "U.S. Policy on Dollarization: A Political Analysis ," Geopolitics.

Collings, Frances d'A., and others (1978). "The Rand and the Monetary Systems of Botswana,

Lesotho, and Swaziland." Journal of Modern African Studies, v. 16, no. 1 (March),

pp. 97-121.

Cooper, Richard N. (1984). “A monetary system for the future,” Foreign Affairs, Vol. 63, Iss. 1

(Fall), pp. 166-185.

________________ (1987). “The Evolution of the International Monetary Fund toward a World

Central Bank.” In The international monetary system: Essays in world economics.

Cambridge, Mass. and London: MIT Press. p 239-57. Previously Published: 1983

Cukierman, Alex (1992). Central Bank Strategy, Credibility, and Independence: Theory and

Evidence. Cambridge, MA: MIT Press.

Dedola, Luca and Sylvain Leduc (1999). “On Exchange Rate Regimes, Exchange Rate

Fluctuations, and Fundamentals.” Federal Reserve Bank of Philadephia, Working Paper

99-16.

De Nicolo, Gianni, Patrick Honohan, and Alain Ize (2003). “Dollarization of the Banking System:

Good or Bad?” World Bank Working Paper No. 3116 (August).

Dowd, Kevin (2001). “Central Banks: Who Needs Them?” Policy Options (May), pp. 37-40.

Eatwell, John (2000). “A World Financial Authority.” In Joseph Bisignano, William Hunter, and

George Kaufman, eds., Global financial crises: Lessons from recent events. Boston, Dordrecht and London: Kluwer Academic, pp. 373-88.

Economist, The (1998). “One World, One Money” (24 September).

Eichengreen, Barry (1997). European Monetary Unification: Theory, Practice, and Analysis.

Cambridge, MA: MIT Press, 1997.

________________ (1998). Globalizing Capital: A History of the International Monetary System. Princeton: Princeton University Press.

________________ (2000). “Solving the Currency Conundrum,” Economic Notes, Vol. 29, No. 3

(Nov.), pp. 315-39.

________________, and Ricardo Hausmann (2003). “Debt Denomination and Financial Instability

in Emerging Market Economies: Editors’ Introduction.” To appear in Barry Eichengreen

and Ricardo Hausmann, eds., Debt Denomination and Financial Instability in Emerging

Market Economies.

________________, Ricardo Hausmann and Ugo Panizza (2003). “The Mystery of Original Sin.”

To appear in Barry Eichengreen and Ricardo Hausmann, eds., Debt Denomination and

Financial Instability in Emerging Market Economies.

Eichengreen, Barry, James Tobin, and Charles Wyplosz (1995). "Two Cases for Sand in the

Wheels of International Finance," Economic Journal, Vol. 105 (Jan.), pp. 162-72.

Esquivel, Gerardo and Felipe Larraín B. (200x). “The Impact of G-3 Exchange Rate Volatility on

Developing Countries.” G-24 Discussion Paper No. 16 (Jan.). http://www.g24.org/LarrainE.pdf

Federal News Service (1999). “Joint Hearing of the Economic Policy Subcommittee and the

International Trade and Finance Subcommittee of the Senate Banking, Housing and

Urban Affairs Committtee, on the Subject of Official Dollarization in Emerging-Market

Countries” (April 22).

Fischer, Stanley and Guy Debelle (1994). "How Independent Should a Central Bank Be?" In

Jeffrey Fuhrer, ed., Goals, Guidelines, and Constraints Facing Monetary Policymakers,

Federal Reserve Bank of Boston, Conference Series No. 38.

Flood, Robert P., and Andrew Rose (1995). “Fixing exchange rates: A virtual quest for

            fundamentals,” Journal of Monetary Economics, Vol. 36, pp. 3-37.

Frankel, Jeffrey and Andrew Rose (1998). “The Endogenity of the Optimum Currency Area

            Criterion”, Economic Journal, Vol. 108 (July 1998), pp. 1009-1025.

_____________________________ (2002). “An Estimate of the Effect of Common Currencies on

Trade and Income,” Quarterly Journal of Economics, Vol. 117, No. 2 (May), pp.

437-466.

______________, E. Stein, and S. Wei, S. (1995). “Trading blocs and the Americas: The Natural,

the Unnatural and the Super-natural,” Journal of Development Economics, Vol. 47,

pp. 61-95.

______________, Sergio Schmukler, and Luis Servén (2002). “Global Transmission of Interest

Rates: Monetary Independence and Currency Regime.” NBER Working Paper No. 8828

(March).

Frankman, Myron (2002). “Beyond the Tobin Tax: Global Democracy and a Global Currency,”

Annals of the American Academy of Political and Social Science, Vol. 581 (May),

pp. 62-73.

Galí, Jordi and Tommaso Monacelli (2002). “Monetary Policy and Exchange Rate Volatility in a

Small Open Economy.” NBER Working Paper No. 8905 (April).

http://papers.nber.org/papers/w8905.pdf

Garber, Peter M., and Mark P. Taylor (1995). "Sand in the Wheels of Foreign Exchange Markets:

A Skeptical Note," Economic Journal, Vol. 105 (January), pp. 173-81.

Ghosh, Atish R and Holger C. Wolf (1994). “How Many Monies? A Genetic Approach to Finding

Optimum Currency Areas.” NBER Working Paper No. 4805 (July).

Giovannini, A. and B. Turtelboom (1994). "Currency Substitution." In Frederick Van Der Ploeg,

ed., The Handbook of International Macroeconomics. Oxford UK: Blackwell. pp. 390-

436.

Goldstein, Morris and Philip Turner (1996). “Banking Crises in Emerging Economies: Origins and

Policy Options.” B.I.S. Economic Papers No. 46 (Oct.).

Grassman, S. (1973). “A Fundamental Symmetry in International Payments Patterns,” Journal

of International Economics, Vol. 3, pp. 105-116.

Grubel, Herbert G. (1999). "The Case for the Amero: The Economics and Politics of a

North American Monetary Union," Critical Issues Bulletin, Fraser Institute,

Vancouver

________________ (2000). “Basic Methods for Distributing Special Drawing Rights and the

Problem of International Aid,” Journal of Finance, Vol. 27, No. 5 (Dec.), pp. 1009-22.

Hakkio, Craig S. (1993). “The dollar's international role,” Contemporary Economic Policy,

Vol. 11, Iss. 2 (April), pp. 62-76.

Hau, Harold (2002), “Real Exchange Rate Volatility and Economic Openness: Theory and

Evidence,” Journal of Money, Credit and Banking, Vol. 34, No. 3, pp. 611-630.

Hausmann, Ricardo (1999). “Should there by five currencies or one hundred and five?” Foreign

Policy, Iss. 166 (Fall), pp. 65-80.

Hoffman, Ellen (1991). “One World, One Currency?” Omni, Vol. 13, Iss. 9 (June), pp. 50-55.

International Monetary Fund (2001). “The Decline of Inflation in Emerging Markets: Can It Be

Maintained?” World Economic Outlook, May, pp. 116-144.

________________________ (2002). Annual Report on Exchange Rate Arrangements and

Restrictions. Washington, D.C.: International Monetary Fund.

_____________________ (2003). Annual Report of the Executive Board for the Financial Year

Ended April 30, 2003. Washington, D.C.: International Monetary Fund.

Islam, Faisal (2001). “The euro will also be used in West Africa, South America, the Pacific,

and Eastern Europe,” The Observer (Oct. 18).

Ize, Alain and Eduardo Levy-Yeyati. 1998. "Dollarization of Financial Intermediation: Causes and

Policy Implications." International Monetary Fund Working Paper WP/98/28, March.

Johnson, Martin and Daniel Pick (1997). “Currency Quandry: The Choice of Invoicing Currency

under Exchange Rate Uncertainty,” Review of International Economics, Vol. 5, No. 1

(…), pp. 118-128.

Kamin, Steven and Neil Ericsson (2003). “Dollarization in Post-hyperinflationary Argentina,”

Journal of International Money and Finance, Vol. 22, No. 2 (April), pp. 185-211.

Kaminsky, Graciela and Carmen Reinhart (1999). “The Twin Crises: The Causes of Banking and

Balance of Payments Problems,” American Economic Review, Vol. 89, No. 3 (…), pp.

471-500.

Kenen, Peter B. (1983). “Use of SDRs to Supplement or Substitute for Other Means of

Finance” [see full reference in Cooper, p. 18]

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    York: St. Martin's Press, pp. 147-178.

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School of Economics (Nov. 19).

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Summer, pp. 65-76.

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Journal of Money, Credit and Banking, v. 12, August: 513-526.

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Bilson and Richard S. Martson, eds. Exchange Rate Theory and Practice. Chicago:

University of Chicago Press: 261-278.

_____________ (1999). “MONOMONEY MANIA: Why fewer currencies aren't necessarily better,”

            Slate (April 15).

Kunz, Diane B.  (1995). “The fall of the dollar order,” Foreign Affairs, Vol. 74, Iss. 4 (July),

pp. 22-7.

Kydland, … and … Prescott (19xx).

Lambert, Michael and Kristen Stanton (2001). “Opportunities and Challenges of the U.S. Dollar

as an Increasingly Global Currency: A Federal Reserve Perspective,” Federal Reserve

Bulletin, Vol. 87, No. 9 (Sept.), pp. 567-575.

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International Economics, vol. 54, pp. 235-266.

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McCallum, Bennett T. (1999). "Theoretical Issues Pertaining to Monetary Unions," NBER Working Paper, No. 7393 (Oct.).

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