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Financial Crises and the Global Financial System

Articles and Newsletters


"The Misuse of Economic History: Flawed Analogies with Japan's "Liquidity Trap" and the Great Depression," by Alan Reynolds, Cato Journal, vol. 29 no. 3, Fall 2009.

"The Undemanding Ethics of Capitalism," by William A. Niskanen, Cato Journal, vol. 29 no. 3, Fall 2009.

"How to Turn a Recession into a Depression," by William A. Niskanen, Cato Policy Report, March/April 2009.

"Bailout or Bankruptcy?," by Jeffrey A. Miron, Chapter 1, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"Origins of the Financial Market Crisis of 2008," by Anna J. Schwartz, Chapter 2, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"Reflections on the Financial Crisis," by Allan H. Meltzer, Chapter 3, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"What Lessons Can We Learn from the Boom and Turmoil?," by Jeffrey M. Lacker, Chapter 6, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"Bad Rules Produce Bad Outcomes: Underlying Public-Policy Causes of the U.S. Financial Crisis," by Bert Ely, Chapter 8, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"The Case for Policy Sustainability," by Wolfgang Munchau, Chapter 10, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"Moral Hazard in the Policy Response to the 2008 Financial Market Meltdown," by Andrew A. Samwick, Chapter 11, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"Moral Hazard and the Financial Crisis," by Kevin Dowd, Chapter 12, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"Money and the Present Crisis," by Gerald P. O'Driscoll Jr., Chapter 13, Cato Journal, Vol. 29, No. 1, Winter 2009 .

"How to Turn a Recession into a Depression," by William A. Niskanen, Cato Policy Report, vol. 31, no. 2, March/April 2009.

"Creating Financial Harmony: Lessons for China," by James A. Dorn, Cato Journal, vol. 28 no. 3, Fall 2008.

"Currency Boards vs. Dollarization: Lessons from the Cook Islands," by Richard C. K. Burdekin, Cato Journal, vol. 28, no. 1, Winter 2008.

"Macroeconomic Effects of Central Bank Transparency: The Case of Brazil," by Helder Ferreira de Mendonça and José Simão Filho, Cato Journal, vol. 28, no. 1, Winter 2008.

"Financial Crises, Liberalization, and Government Size," by Kam Hon Chu, Cato Journal, vol. 27, no. 1, Winter 2007.

"China’s Stock Market: A Marriage of Capitalism and Socialism," by Sonia M. L. Wong, Cato Journal, vol. 26, no. 3, Fall 2006.

"U.S.-China Relations: The Case for Economic Liberalism," by James A. Dorn, Cato Journal, vol. 26, no. 3, Fall 2006.

"Monetary Institutions and Economic Development," Cato Journal, vol. 26, no. 2, Spring/Summer 2006

"Why Doesn't Aid Work?" by William Easterly, Cato Unbound, April 2006.

"Does Foreign Aid Help?" by Simeon Djankov, Jose Montalvo, and Marta Reynal-Querol, Cato Journal, vol. 26, no. 1, Winter 2006.

"How Global Investors Might Rid Themselves of Asian-type Crises," by Stephen Matteo Miller, Cato Journal, vol 26, no. 1, Winter 2006.

"Ending Financial Repression in China," by James A. Dorn, Economic Development Bulletin no. 5, January 26, 2006.

"The 1997–98 Asian Crisis: A Property Rights Perspective," by Sinclair Davidson, Cato Journal, vol. 25, no. 3, Fall 2005.

"How China Should Use Its Foreign Reserves: Enabling Privatization without Social Disorder," by Deepak Lal, Economic Development Bulletin no. 3, October 20, 2005. (PDF | HTML)

"Monetary Policy in a World of Mobile Capital," by Ben S. Bernanke, Cato Journal, 25, no. 1, Winter 2005.

"New Mandates for the IMF and World Bank," by Allan H. Meltzer, Cato Journal, 25, no. 1, Winter 2005.

"Institutional Reform and Sovereign Debt Crises," by Raghuram G. Rajan, Cato Journal, 25, no.1, Winter 2005.

"A Leap of Faith for Sovereign Default: From IMF Judgment Calls to Automatic Incentives," by Adam Lerrick, Cato Journal, 25, no.1, Winter 2005.

"Fiscal Conservatism, Exchange Rate Flexibility, and the Next Generation of Debt Crises," by Kenneth Rogoff, Cato Journal, 25, no.1, Winter 2005.

"Capital Controls: Mud in the Wheels of Market Efficiency," by Kristin J. Forbes, Cato Journal, 25, no.1, Winter 2005.

"Exchange Rates and Capital Freedom in Developing Markets," by Leland B. Yeager, Cato Journal, 25, no.1, Winter 2005.

"Some Theory and History of Dollarization," by Kurt Schuler, Cato Journal, vol. 25, no. 1, Winter 2005.

"Financial Integration and Dollarization: The Case of Panama," by Juan Luis Moreno-Villalaz, Cato Journal, vol. 25, no. 1, Winter 2005.

"Currency Privatization as a Substitute for Currency Boards and Dollarization," by George Selgin, Cato Journal, vol. 25, no. 1, Winter 2005.

"'Starve the Beast' Does Not Work," by William A. Niskanen, Cato Policy Report, March/April 2004.

"Promoting Financial Resilience," by William J. McDonough, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"The Argentine Economic Crisis," by Ricardo Lopez Murphy, Daniel Artana, and, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Argentina 2002: A Case of Government Failure," by Allan H. Meltzer, Cato Journal, vol. 23, no. 1, Spring/Summer2003.

"Lessons from Argentina and Brazil," by Charles W. Calomiris, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"The Argentine Straw Man: A Response to Currency Board Critics," by Steve H. Hanke, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Alternative Approaches to Sovereign Debt Restructuring," by Jack Boorman, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"The Roadblock to a Sovereign Bankruptcy Law," by Jeffrey D. Sachs, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Enhancing Sovereign Debt Restructuring," by Randall S. Kroszner, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Do Sovereign Debtors Need a Bankruptcy Law?" by Anna J. Schwartz, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Crises and Recoveries: Multinational Failures and National Successes," by Alan Reynolds, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Banking Stability and the Basel Capital Standards," by L. Jacobo Rodríguez, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Increasing Economic Growth and Stability in Emerging Markets," by John B. Taylor, Cato Journal, vol. 23, no. 1, Spring/Summer 2003.

"Argentina: Caveat Lector," A Cato White Paper, October 17, 2002. Prepared for the Cato Institute's 20th Annual Monetary Conference cosponsored with The Economist, October 17, 2002, New York City.

"Will Other Countries Follow Italy's Lead in Freezing Argentine Assets?" by Steve Hanke, Latin America Advisor, August 12, 2002.

"Dollarization, Still the Best Choice for Argentina," by Kurt Schuler, February 8, 2002.

"How to Dollarize in Argentina Now," by Kurt Schuler and Steve H. Hanke, A Cato Paper, January 2, 2002.

"A Retrospective on the Mexican Bailout," by Ian Vásquez, Cato Journal, vol. 21, no. 3, Winter 2002.

"Guides to Monetary Policy in a Global Economy," by Manuel H. Johnson, Cato Journal, vol. 21, no. 2, Fall 2001.

"The Disregard for Currency Board Realities," by Steve H. Hanke, Cato Journal, vol. 20, no. 1, Summer/Spring 2000.

"Official Dollarization: Current Experiences and Issues," by Zeljko Bogetic, Cato Journal, vol. 20, no. 2, Fall 2000.

"Sense and Nonsense of Fixed Exchange Rates: On Theories and Crises," by Carsten Hefeker, Cato Journal, vol. 20, no. 2, Fall 2000.

"The Case for Optimism," by William A. Niskanen, Cato Policy Report, September/October 2000.

"Official versus Spontaneous Dollarization," by Juan Andrés Fontaine, Cato Journal, vol. 20, no. 1, Summer/Spring 2000.

"Dollarization for Latin America?" by William A. Niskanen, Cato Journal, vol. 20, no. 1, Summer/Spring 2000.

"The Evolving Global Monetary Order," by Jerry L. Jordan, Cato Journal, vol. 20, no. 1, Spring/Summer 2000.

"Do We Need a New Bretton Woods?" by Anna J. Schwartz, Cato Journal, vol. 20, no. 1, Spring/Summer 2000.

"A New Bretton Woods or Monetary Competition?" by Pedro Schwartz, Cato Journal, vol. 20, no. 1, Spring/Summer 2000.

"World Monetary Policy after the Euro," by George Selgin, Cato Journal, vol. 20, no. 1, Spring/Summer 2000.

"Is There a Need for an International Lender of Last Resort?" by Anna J. Schwartz, Cato Journal, vol. 19, no. 1, Spring/Summer 1999.

"Reflections on Exchange Rate Regimes," by Steve H. Hanke, Cato Journal, vol. 18, no. 3, Winter 1999.

"A Monetary Constitution for Argentina: Rules for Dollarization," by Steve H. Hanke, Cato Journal, vol. 18, no. 3, Winter 1999.

"Lessons from the Monetary Experience of Panama: A Dollar Economy with Financial Integration," by Juan Luis Moreno-Villalaz, Cato Journal, vol. 18, no. 3, Winter 1999.

"Building an International Financial Architecture for the 21st Century," by Lawrence H. Summers, Cato Journal, vol. 18, no. 3, Winter 1999.

"Reshaping the Global Financial Architecture: Is There a Role for the IMF?" by William A. Niskanen, Cato Journal, vol. 18, no. 3, Winter 1999.

"Increasing Global Financial Integrity: The Roles of Market Discipline, Regulation, and Supervision," by Laurence H. Meyer, Cato Journal, vol. 18, no. 3, Winter 1999.

"The Role of Private Regulation in Maintaining Global Financial Stability," by Randall S. Kroszner, Cato Journal, vol. 18, no. 3, Winter 1999.

"International Rescues versus Bailouts: A Historical Perspective," by Michael D. Bordo, Cato Journal, vol. 18, no. 3, Winter 1999.

"Creditor Panics: Causes and Remedies," by Jeffrey D. Sachs, Cato Journal, vol. 18, no. 3, Winter 1999.

"Lessons from the Asian Financial Crisis," by Y. C. Richard Wong, Cato Journal, vol. 18, no. 3, Winter 1999.

"Asia: The Fall of a Second Berlin Wall," by José Piñera, Cato Journal, vol. 18, no. 3, Winter 1999.

"The Impending Collapse of the European Monetary Union," by Charles W. Calomiris, Cato Journal, vol. 18, no. 3, Winter 1999.

"The Globalization of Finance," by Alan Greenspan, Cato Journal, vol. 17, no. 3, Winter 1998.

"International Financial Crises: Myths and Realities," by Anna J. Schwartz, Cato Journal, vol. 17, no. 3, Winter 1998.

"How to Avoid International Financial Crises," by Leland B. Yeager, Cato Journal, vol. 17, no. 3, Winter 1998.

"Asian Problems and the IMF," by Allan H. Meltzer, Cato Journal, vol. 17, no. 3, Winter 1998.

"The IMF's Imprudent Role As Lender of Last Resort," by Charles W. Calomiris, Cato Journal, vol. 17, no. 3, Winter 1998.

"How to Establish Monetary Stability in Asia," by Steve H. Hanke, Cato Journal, vol. 17, no. 3, Winter 1998.

"The Origin of Mexico's 1994 Financial Crisis," by Francisco Gil-Diaz, Cato Journal, vol. 17, no. 3, Winter 1998.

"Lessons for Asia from Mexico," by A. James Meigs, Cato Journal, vol. 17, no. 3, Winter 1998.

"Capital Mobility, Inflation, and Harmonization," by William A. Niskanen, Cato Journal, vol. 17, no. 3, Winter 1998.

"Monetary Policy in the 21st Century: An Impossible Task?" by Kevin Dowd, Cato Journal, vol. 17, no. 3, Winter 1998.

"Dumb Networks and Smart Capital," by Walter B. Wriston, Cato Journal, vol. 17, no. 3, Winter 1998.

"Financial Reform in Japan and Global Economic Stability," by Yoshio Suzuki, Cato Journal, vol. 13, no. 3, Winter 1994.

"Creating a Stable Monetary Order," by Vaclav Klaus, Cato Journal, vol. 12, no. 3, Winter 1993.

"Currency Boards and Currency Convertibility," by Steve H. Hanke and Kurt Schuler, Cato Journal, vol. 12, no. 3, Winter 1993.

"Eurodollars: A Transition Currency," by A James Meigs, Cato Journal, vol. 12, no. 3, Winter 1993.

"Sound Money and a Liberal Market Order," by Malcolm S. Forbes Jr., Cato Journal, vol. 12, no. 3, Winter 1993.

"Monetary Policy in an Integrated World Economy," by Manuel H. Johnson, Cato Journal, vol. 10, no. 2, Fall 1990.

"Restructuring Financial Institutions in a Global Economy," by Jerry L. Jordan, Cato Journal, vol. 10, no. 2, Fall 1990.

"International Trends in the Combination of Banking, Securities, and Commerce," by Peter J. Ferrara, Cato Journal, vol. 10, no. 2, Fall 1990.

"Banking, Securities, and Commerce: A European Perspective," by Marvyn K. Lewis, Cato Journal, vol. 10, no. 2, Fall 1990.

"Institutional Requirements for Stable Money in an Integrated World Economy," by Peter Bernholz, Cato Journal, vol. 10, no. 2, Fall 1990.

"Avoiding Monetary Protectionism: The Role of Policy Coordination," by W. Lee Hoskins and Owen F. Humpage, Cato Journal, vol. 10, no. 2, Fall 1990.

"Autonomy and Coordination of Monetary Policy in a Global Economic Order," by Yoshio Suzuki, Cato Journal, vol. 10, no. 2, Fall 1990.

"Toward an Open World Order: A Constitutional Economics Approach," by Peter Moser, Cato Journal, vol. 10, no. 1, Spring/Summer 1990.

"The International Monetary System: Developments and Prospects," Jacob A. Frenkel and Morris Goldstein, Cato Journal, vol. 8, no. 2, Fall 1988.

"Toward an International Commodity Standard?," by Richard N. Cooper , Cato Journal, vol. 8, no. 2, Fall 1988.

"An International Gold Standard without Gold," by Ronald I. McKinnon , Cato Journal, vol. 8, no. 2, Fall 1988.

"Evolution of the International Monetary Market," by Leo Melamed, Cato Journal, vol. 8, no. 2, Fall 1988.

"Transmission of Real and Monetary Disturbances under Fixed and Floating Rates," by Michael D. Bordo and Anna J. Schwartz, Cato Journal, vol. 8, no. 2, Fall 1988.

"Money and Exchange Rate Regimes: A Comparison of Japan and the United States," by Allan H. Meltzer, Cato Journal, vol. 6, no. 2, Fall 1986.

"Economic Policy for a Stable World Order," by Jan Tumlir, Cato Journal, vol. 4, no. 1, Spring/Summer 1984.

"International Monetary Options," by Robert A. Mundell, Cato Journal, vol. 3, no. 1, Spring 1983.

"Gold and International Monetary Stability," by Alexandre Kafka, Cato Journal, vol. 3, no. 1, Spring 1983.



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