This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …

This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …

transmission of monetary policies of the U.S., euro area, Japan, and United Kingdom. Two other studies use international data with …

for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …

Do global current account imbalances still matter in a world of deep international financial markets where gross two …" view of the world, large current account imbalances, while very possibly warranted by fundamentals and welcome, can also …

Do global current account imbalances still matter in a world of deep international financial markets where gross two …" view of the world, large current account imbalances, while very possibly warranted by fundamentals and welcome, can also …

linkages with the rest of the world. Four main findings stand out. First, considering trade in goods, the overall degree of …