ABSTRACT. Chari and Kehoe argue that macroeconomists have been profitably applying the basic tools of general equilibrium theory, computational techniques, and a deep understanding of key features of the data to a wide area of phenomena outside of narrowly defined macroeconomics. Grimm and Reid write that a union-wide central bank conducts monetary policy for the whole currency area and cannot pay individual attention to every specific country in its decision-making. Tadesse maintains that banking systems are less vulnerable to crisis if supported by financial reporting regimes characterized by (i) more comprehensive disclosure, (ii) more timely financial reporting, (iii) more informative reporting, and (iv) more credible financial disclosure.



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