Mr.Michael P. Dooley

A Noteon Burden Sharing Among Creditors

This paper presents a framework for evaluating the relative contributions of different creditors in cases where only partial payments can be made by t...

Establishing Incentive Structures and Planning Agencies That Support Market-Oriented Transformations

This note addresses various types of incentives that must be established before a market economy can function effectively. It also argues that the eno...

Exchange Rates, Country Preferences, and Gold

This paper provides indirect tests of the hypothesis that exchange rate movements may be largely coterminus with changes in preferences for holding cl...