![Media Name: cato-journal-v25n1.jpg](/sites/cato.org/files/styles/serial_cover_phone/public/serials/covers/cato-journal/cato-journal-v25n1.jpg?itok=w8bLsGE4) 

# Winter 2005 

Vol. 25 No. 1 

International Monetary Reform and Capital Freedom

##### Articles 

#### [Editor’s Note ](/cato-journal/winter-2005/editors-note)

By [James A. Dorn](https://www.cato.org/people/james-dorn) 

#### [Monetary Policy in a World of Mobile Capital ](/cato-journal/winter-2005/monetary-policy-world-mobile-capital)

By Ben S. Bernanke 

#### [New Mandates for the IMF and World Bank ](/cato-journal/winter-2005/new-mandates-imf-world-bank)

By Allan H. Meltzer 

#### [Institutional Reform and Sovereign Debt Crises ](/cato-journal/winter-2005/institutional-reform-sovereign-debt-crises)

By Raghuram G. Rajan 

#### [A Leap of Faith for Sovereign Default: From IMF Judgment Calls to Automatic Incentives ](/cato-journal/winter-2005/leap-faith-sovereign-default-imf-judgment-calls-automatic-incentives)

By Adam Lerrick 

#### [Fiscal Conservatism, Exchange Rate Flexibility, and the Next Generation of Debt Crises ](/cato-journal/winter-2005/fiscal-conservatism-exchange-rate-flexibility-next-generation-debt-crises)

By Kenneth Rogoff 

#### [Exchange Rate and Monetary Policy in China ](/cato-journal/winter-2005/exchange-rate-monetary-policy-china)

By Nicholas Lardy 

#### [China’s Defense of the Peg Perpetuates Central Planning ](/cato-journal/winter-2005/chinas-defense-peg-perpetuates-central-planning)

By David F. DeRosa 

#### [Exchange Rates and Capital Freedom in Developing Markets ](/cato-journal/winter-2005/exchange-rates-capital-freedom-developing-markets)

By [Leland B. Yeager](https://www.cato.org/people/leland-yeager) 

#### [Dealing with Exchange Rate Protectionism ](/cato-journal/winter-2005/dealing-exchange-rate-protectionism)

By Anna. J. Schwartz 

#### [Exchange Rate Protectionism: A Harmful Diversion for Trade and Development Policy ](/cato-journal/winter-2005/exchange-rate-protectionism-harmful-diversion-trade-development-policy)

By David Malpass 

#### [Some Theory and History of Dollarization ](/cato-journal/winter-2005/some-theory-history-dollarization)

By Kurt Schuler 

#### [Financial Integration and Dollarization: The Case of Panama ](/cato-journal/winter-2005/financial-integration-dollarization-case-panama)

By Juan Luis Moreno-Villalaz 

#### [Currency Privatization as a Substitute for Currency Boards and Dollarization ](/cato-journal/winter-2005/currency-privatization-substitute-currency-boards-dollarization)

By [George Selgin](https://www.cato.org/people/george-selgin) 

#### [Capital Controls: Mud in the Wheels of Market Efficiency ](/cato-journal/winter-2005/capital-controls-mud-wheels-market-efficiency)

By Kristin J. Forbes 

#### [The Recent Stabilization Experience in Mexico ](/cato-journal/winter-2005/recent-stabilization-experience-mexico)

By Manuel Sanchez 

##### Book Review 

##### [*Where the Right Went Wrong: How Neoconservatives Subverted the Reagan Revolution and Hijacked the Bush Presidency* by Patrick J Buchanan](/cato-journal/winter-2005/where-right-went-wrong-how-neoconservatives-subverted-reagan-revolution)

By [Patrick Basham](https://www.cato.org/people/patrick-basham) 

##### [*The Right Nation: Conservative Power in America* by John Micklethwait and Adrian Wooldridge](/cato-journal/winter-2005/right-nation-conservative-power-america-john-micklethwait-adrian-wooldridge)

By [Patrick Basham](https://www.cato.org/people/patrick-basham) 

##### [*What’s the Matter with Kansas? How Conservatives Won the Heart of America* by Thomas Frank](/cato-journal/winter-2005/whats-matter-kansas-how-conservatives-won-heart-america-thomas-frank)

By [Patrick Basham](https://www.cato.org/people/patrick-basham) 

##### [*Going Broke by Degree: Why College Costs Too Much* by Richard Vedder](/cato-journal/winter-2005/going-broke-degree-why-college-costs-too-much-richard-vedder)

By [Neal McCluskey](https://www.cato.org/people/neal-mccluskey) 

##### [*Understanding the Process of Economic Change* by Douglass C. North](/cato-journal/winter-2005/understanding-process-economic-change-douglass-c-north)

By [Will Wilkinson](https://www.cato.org/people/will-wilkinson) 

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