00680nam a2200085Ia 4500100002600000245008700026260000900113520045500122583001700577  aMachinea, José Luis  aThe international financial crisis : its nature and the economic policy challenges  c2009  aDiscusses the origins of the international financial crisis, emphasizing the instability of the financial system as a leading cause.  Argues that the function of controlling excessive asset price rises is one for regulatory policy, rather than interest rates.  Analyzes the effects of the international crisis on the current accounts of the region's countries and the difficulty of applying countercyclical policies in the absence of a global lender.  c2/8/10kJOYD