The global financial crisis and economic recession have been subjected to much analysis and institutional soul-searching. As a consequence, there are numerous calls for a reformation and a renaissance of the financial system. The concept of systemic risk is the…
Singapore became an independent nation in 1965 following a six-year period as a self-governing parliamentary democracy within the British Commonwealth and a prior thirteen-year period as a British colony following World War Two. It has a population of 4.84 million,…
The Royal Statistical Society celebrated its 175th anniversary year in 2009. Founded in 1834 as the Statistical Society of London, it has a history of progress and accomplishment in academic research and professional practice in the field of statistics. Celebration…
At the height of the global financial crisis we asked in Après Dégringolade, the October 2008 edition of Commentary: “Would the US dollar be able to maintain a significant role as a reserve currency? Would creditor nations continue to hold…
The current global economic and financial crisis presents many opportunities for economists to develop strategic initiatives that are designed to stimulate economic activity and accelerate the recovery process. The International Monetary Fund (IMF) has developed specific proposals and action plans…
Governor Zhou Xiaochuan, Chairman of the Monetary Policy Committee of the People’s Bank of China, spoke recently on Reform the International Monetary System. His speech represented an appeal to address the question of what kind of international reserve currency is…
The United Nations has continuously emphasized the role of productive employment in reducing poverty and promoting social development ever since the 1995 World Summit for Social Development. Every two years the United Nations issues a Report on the World Social…
At the conclusion of its November 15 meeting in Washington, the leaders of the G20 nations issued a Declaration on Financial Markets and the World Economy. This declaration acknowledged serious challenges to the world economy and financial markets and expressed…
When the phone rang in our office at 2am New York time on the morning of Monday September 15, our French and Swiss colleagues had already assessed the implications of the crisis in the American financial system and had recognized…
The U.S. Treasury has issued the fifth in its series of Issue Briefs on Social Security. This Issue Brief discusses progressive price indexing and the potential role of progressive reductions in scheduled benefits as part of Social Security reform. A…