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The Euro and International Capital Markets

Detken, Carsten; Hartmann, Philipp - C.E.P.R. Discussion Papers - 2000

bond and note issuance it experienced significant growth in 1999 even slightly overtaking the US dollar in the second half …

Persistent link: https://www.econbiz.de/10005123910

Dollar Illiquidity and Central Bank Swap Arrangements During the Global Financial Crisis

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2011

While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar …, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into …. Theory consistent with dollar appreciation in the crisis suggests that their impact should be greater for countries that have …

Persistent link: https://www.econbiz.de/10009293988

The Dollar and its Discontents

Jeanne, Olivier - C.E.P.R. Discussion Papers - 2012

Has the US dollar delivered the benefits that the rest of the world is expecting from its holdings of international …

Persistent link: https://www.econbiz.de/10011084062

The Empirics of International Currencies: Historical Evidence

Flandreau, Marc; Jobst, Clemens - C.E.P.R. Discussion Papers - 2006

Using a new database for the late 19th century, when the pound sterling circulated all over the world, this paper provides the first review of critical empirical issues in the economics of international currencies. First, we report evidence in favor of the search-theoretic approach to...

Persistent link: https://www.econbiz.de/10005791461

Measuring Market Integration: Foreign Exchange Arbitrage and the Gold Standard 1874-1913

Canjels, Eugene; Prakash-Canjels, Gauri; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2004

A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage. Authors have examined efficiency by looking at the spread of the gold points, gold point violations, the flow of gold, or by tests of various asset market criteria, including...

Persistent link: https://www.econbiz.de/10005791868

Commercial Links Between Western Europe and East Asia: Retrospect and Prospects

Anderson, Kym; Francois, Joseph - C.E.P.R. Discussion Papers - 1997

East Asia has rapidly become the third centre of gravity for global economic activity. North America is relatively well integrated with East Asia, but Europe is not. This paper explores the extent to which economic growth and trade policy developments over the next decade or so will strengthen...

Persistent link: https://www.econbiz.de/10005123497

TFPG Controversies, Institutions, and Economic Performance in East Asia

Rodrik, Dani - C.E.P.R. Discussion Papers - 1997

The controversy over the appropriate partitioning of East Asian growth into accumulation versus technical change has overlooked a fundamental indeterminacy in measurement. As a result, we cannot rule out the possibility that East Asia has in fact experienced a tremendous amount of technological...

Persistent link: https://www.econbiz.de/10005124261

King Kong Meets Godzilla: The World Bank and The East Asian Miracle

Rodrik, Dani - C.E.P.R. Discussion Papers - 1994

The World Bank's The East Asian Miracle: Economic Growth and Public Policy makes official what East Asian specialists had long known: most of the high-performing Asian economies have had extensive government intervention, and some of these interventions, in the areas of credit and exports, have...

Persistent link: https://www.econbiz.de/10005666652

What Happened to Asian Exports During the Crisis?

Duttagupta, Rupa; Spilimbergo, Antonio - C.E.P.R. Discussion Papers - 2003

After the large exchange rate depreciations following the 1997 East Asian crisis, export volumes from East Asian countries responded with a notable lag. Two main explanations for this lag have been proposed: that contraction in domestic credit affected supply of exports; and that ‘competitive...

Persistent link: https://www.econbiz.de/10005666982

Managing the Noodle Bowl: The Fragility of East Asian Regionalism

Baldwin, Richard - C.E.P.R. Discussion Papers - 2006

The paper argues that East Asian regionalism is fragile since (i) each nation's industrial competitiveness depends on the smooth functioning of 'Factory Asia' - in particular on intra-regional trade; (ii) the unilateral tariff-cutting that created 'Factory Asia' is not subject to WTO discipline...

Persistent link: https://www.econbiz.de/10005791727