Crises and the International System |
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| Authors: | Maurice Obstfeld |
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| Institution: | 1. University of California , Berkeley , USA;2. National Bureau of Economic Research , USA;3. Centre for Economic Policy Research , USA obstfeld@econ.berkeley.edu |
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| Abstract: | This paper reviews the recent experience of financial crises since 2007, including the continuing crisis in the euro zone. I seek to answer three main questions: In what respects (if any) is the recent experience of crises novel? How special is the euro crisis? And what changes in the international financial architecture can reduce the chances of future crises? |
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| Keywords: | Financial crises international monetary system euro zone capital controls |
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