Similar Search Results

Regional Financial Arrangements and the International Monetary Fund

Eichengreen, Barry - East Asian Bureau of Economic Research (EABER) - 2012

The rise of regional monetary arrangements poses a challenge for the International Monetary Fund (IMF)'s global … surveillance efforts. This paper reviews how the IMF has responded to earlier regional initiatives, from the European Payments …

Persistent link: https://www.econbiz.de/10011278037

Regional Financial Arrangements and the International Monetary Fund

Eichengreen, Barry - East Asian Bureau of Economic Research (EABER) - 2012

Persistent link: https://www.econbiz.de/10011278132

Regional Financial Arrangements and the International Monetary Fund

Eichengreen, Barry - East Asian Bureau of Economic Research (EABER) - 2012

Persistent link: https://www.econbiz.de/10011278187

The Bail-In Problem: Systematic Goals, Ad Hoc Means

Eichengreen, Barry; Ruehl, Christoph - C.E.P.R. Discussion Papers - 2000

In this paper we analyse the recent efforts of the international financial institutions to limit the moral hazard created by their assistance to crisis countries. We question the wisdom of the case-by-case approach taken in Pakistan, Ecuador, Romania and Ukraine. We show that because default and...

Persistent link: https://www.econbiz.de/10005124195

Would Collective Action Clauses Raise Borrowing Costs?

Eichengreen, Barry; Mody, Ashoka - C.E.P.R. Discussion Papers - 1999

We examine the implications for borrowing costs of including collective-action clauses in loan contracts. For a sample of some 2,000 international bonds, we compare the spreads on bonds subject to UK governing law, which typically include collective-action clauses, with spreads on bonds subject...

Persistent link: https://www.econbiz.de/10005067390

The IMF in a World of Private Capital Markets

Eichengreen, Barry - eSocialSciences - 2005

The IMF attempts to stabilize private capital flows to emerging markets by providing public monitoring and emergency … when they are issued in conjunction with IMF-supported programs, as if the existence of a program conveyed positive … information to bondholders. The influence of IMF monitoring in bond markets is especially pronounced for countries vulnerable to …

Persistent link: https://www.econbiz.de/10005528172

Current Account Reversals and Currency Crises: Empirical Regularities

Milesi-Ferretti, Gian Maria; Razin, Assaf - C.E.P.R. Discussion Papers - 1998

This paper studies sharp reductions in current account deficits and large exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. It finds...

Persistent link: https://www.econbiz.de/10005662126

On the Ineffectiveness of Tax Policy in Altering Long- Run Growth: Harberger's Superneutrality Conjecture

Asea, Patrick; Mendoza, Enrique G; Milesi-Ferretti, … - C.E.P.R. Discussion Papers - 1996

Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects investment and growth, in practice tax policy is ineffective as an instrument to promote growth. This paper provides evidence to support this view by examining the predictions...

Persistent link: https://www.econbiz.de/10005136639

On Regional Monetary Arrangements For ASEAN

Bayoumi, Tamim; Eichengreen, Barry; Mauro, Paolo - C.E.P.R. Discussion Papers - 2000

This paper analyses the extent to which ASEAN may be suitable for a regional monetary arrangement. On the economic front, we review evidence on patterns of trade, economic shocks, the extent of factor mobility, and the monetary transmission mechanism. We find that ASEAN today is less suitable...

Persistent link: https://www.econbiz.de/10005791271

Designing a Central Bank for Europe: A Cautionary Tale from the Early Years of the Federal Reserve System

Eichengreen, Barry - C.E.P.R. Discussion Papers - 1991

Important questions concerning the structure and operation of a European Central Bank remain unanswered. Although there exists no precedent for the process of institution-building in which the European Community is currently engaged, the founding and early operations of the Federal Reserve...

Persistent link: https://www.econbiz.de/10005791345