What is the case for adding the unconventional balance sheet policies used by major central
banks since 2007 to the standard policy toolkit? The record so far suggests that the new …

After the onset of the financial crisis, spreads between interbank interest rates on unsecured
and secured deposits for the major world currencies became exceptionally large and …

In recent years, China's central bank has actively pursued signing bilateral currency swap
agreements with other central banks as part of the authorities' efforts to push for the …

Between 1980 and before the recent crisis, the ratio of financial market debt to liquid assets
rose exponentially in the US (and in other financial markets), reflecting in part the greater …

The social structure of accumulation and world system thinking regarding globalization are
central to this book. I have been influenced by my years of teaching and thinking about …

Unconventional central bank measures are playing a key policy role for many advanced
economies in the 2007-09 global crisis. Are they playing a similar role for emerging …

The views expressed in this Policy Discussion Paper are those of the author (s) and do not
necessarily represent those of the IMF or IMF policy. Policy Discussion Papers describe …

1. The financial crisis, initially traced to subprime mortgage market in the United States (US)
and the resulting deleveraging process by global financial institutions involved in highly …

According to the most recent National Threat Assessment, the global financial crisis and its
geopolitical implications pose the primary near-term security concern of the United States …

The recent expansion of the balance sheet of the consolidated Federal Reserve Banks
(FRB) is analyzed in an historical context. The analysis reveals that the nature of Fed …