F4 - Macroeconomic Aspects of International Trade and Finance
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The Resolution of International Financial Crises: Private Finance and Public Funds
Over the past year and a half, the Bank of England and the Bank of Canada have been developing a framework for the resolution of international financial crises that aligns incentives for all parties to deal with a crisis and preserve the integrity of the international financial system. The framework is built on principles, not rules. -
On Commodity-Sensitive Currencies and Inflation Targeting
Two aspects of the recent monetary history of Canada, Australia, and New Zealand stand out: the sensitivity of their dollars to prices of resource-based commodities, and inflation targeting. This paper explores various aspects of these phenomena.