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Martin N. Baily

Capsule Review
Jan/Feb
2010
U.S. Pension Reform: Lessons From Other Countries
Richard N. Cooper

This book compares the U.S. social security system to others (it fares rather well) and explores whether reforms in other countries are applicable to the United States.

Essay
Mar/Apr
2000
The Color of Hot MoneyPremium Article available to subscribers and site license holders.
Martin N. Baily, Diana Farrell, and Susan Lund

Mahathir Mohamad and others love to blame buccaneering hedge funds for sparking Asia's recent financial crisis, but they have the wrong suspects. The "hot money" that rushed in and out of emerging markets came from irresponsible banks, not hedge funds. In fact, hedge funds are minor players in international finance. Rather than worsening financial turbulence, they might even help curb it.