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This paper was written in 2003-04 and aims to investigate the two cycles of US economic expansion in the late of the 20th Century and the 2001 financial crisis. For this purpose, it starts an examination of the mutations of the capital since the 1970s. In the end, it analyzes the international context and the changes in the US hegemony nature at the beginnings of the 21st Century. [ABSTRACT FROM AUTHOR]

Interests and international relations trajectories: the US and the global finances in a context of crises and transition. This paper aims to analyze the elements of continuity and discontinuity in American foreign policy from the nineties. In this regard, it emphasizes the importance of financial issues within the scope of the U.S. government strategies for foreign integration and tries to analyze comparatively the Republicans and Democrats government of the period, ending with some prospective questions concerning the Democratic government of President Obama in the context of international economic crisis. [ABSTRACT FROM AUTHOR]

The architecture of the current international financial system. This paper discusses some features of financial institutions and instruments which originated the financial crisis triggered by increasing default rate, household real estate and financial asset depreciation combined with U.S. subprime mortgages. The first part presents major crisis events in a chronological order. The second part describes the interconnection of the institutions and markets which engendered a global shadow financial system. The third part focuses on an overview of measures taken by government authorities and large banks to bring about possible solutions for the global financial crisis. [ABSTRACT FROM AUTHOR]

Inflation targets: lessons from the Greenspan era. This paper approaches the experience of monetary policy in the Greenspan period and suggests what lessons could be learnt. The adoption of inflation targeting would denote a step backward in the policymaking process in the USA, for, since the 1980s, a distinctive feature is flexibility of response to adjust to unexpected events and changing environments. The Fed was able to exercise an informed judgement in critical situations and this opens the case for the importance of not restraining policymakers' actions through the adoption of tight rules. Furthermore, that the various experiences with inflation targeting are indisputably huge successes, and that this framework represents the state of the art (therefore nothing else can alternatively be done), remains to be seen. [ABSTRACT FROM AUTHOR]

Asset inflation and deflation triggered by the US housing financial system. This paper deals with the financial crisis triggered after the default of subprime mortgages in the United States which expanded to a global systemic crisis. It is divided into a brief introduction and three sections. The first section sums up the dynamics of inflation and deflation of real estate and financial assets which characterizes financeled cycles. The second section covers major effect of financial assets deflation on the American and European banks. The third section focuses on measures implemented by central banks in order to manage this financial crisis. [ABSTRACT FROM AUTHOR]