@techreport{NBERw7265, title = "International Institutions for Reducing Global Financial Instability", author = "Kenneth Rogoff", institution = "National Bureau of Economic Research", type = "Working Paper", series = "Working Paper Series", number = "7265", year = "1999", month = "July", URL = "http://www.nber.org/papers/w7265", abstract = {This paper asks how recent developments in research on banking and sovereign lending can help inform the debate on choosing a new international financial architecture. A broad range of plans is considered, including a global lender of last resort facility, an international bankruptcy court, an international debt insurance corporation, and unilateral controls on capital flows.}, }