Robert McCauley maps the capital flows that preceded the 2008 crisis and argues that it was European banks that fuelled the U.S. housing boom. Large official inflows into U.S. Treasury and agency notes should have reinforced a U.S. mortgage market dominated by fixed-rate mortgages. Instead, one...

Given a graph G=(V, E), a set of vertices <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$${S \subseteq V}$$</EquationSource> </InlineEquation> covers a vertex <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$${v \in V}$$</EquationSource> </InlineEquation> if the edge-connectivity between S and v is at least a given number k. Vertices in S are called sources. The maximum-cover source location problem, which is a variation of the source location problem,...</equationsource></inlineequation></equationsource></inlineequation>

This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the extent of policy divergence among the three trilemma policy choices—monetary independence, exchange rate...

We evaluate the impact of the global financial crisis (GFC) and recent structural changes in the patterns of hoarding international reserves (IR). We confirm that the determinants of IR hoarding evolve with developments in the global economy. During the pre-GFC period of 1999–2006, gross...