The monetary policy experience of Latin America has not been a happy one. Economies in
this region have gone through extreme episodes of monetary instability, swinging from very …

The currency crises of the 1990s shocked investors, academics, international civil servants,
and policy makers alike. Most analysts had missed the financial weaknesses in Mexico and …

This paper provides new insight into the relationship between inflation and the setting of
individual prices by examining a large data set of Mexican consumer prices covering …

This book offers an examination of the empirical data of business cycles, the theories that
economists have developed to explain them, and major case studies of recessions and …

Exchange market pressure (EMP), the sum of exchange rate depreciation and reserve
outflows (scaled by base money), summarizes the flow excess supply of money in a …

Credibility and transparency are at the core of the current debate on exchange rate regimes.
Among the reasons why intermediate regimes have fallen out of favor, a possibly important …

This paper provides a comparative analysis of the East Asian and Mexican crises, and
draws lessons for the emerging economies. Although much of the discussion concentrates …

The Asian financial crisis of 1997-98 shook the foundations of the global economy. What
began as a localised currency crisis soon engulfed the entire Asian region. What went …

This textbook provides a historical survey of economic and political development theory and
practice from 1945. Against the background of changes in global politics, it explores how the …

In line with worldwide trends, most Latin American countries have moved toward either
extreme of floating rates or dollarization. In this paper, we evaluate the wisdom of those …