This paper focuses on the dynamics of international financial integration for a set of 13 industrial countries including Australia over the period 1990 to 2003 by analysing data on the level and composition of foreign assets and liabilities. The objective of the study is to provide insights into...

Remarks hosted by the Institute of Regulation & Risk North Asia, Hong Kong

Remarks at the Thirty-Seventh Annual Jackson Hole Symposium, Jackson Hole, Wyoming.

Remarks at the 2011 Bretton Woods Committee International Council Meeting, Washington, D.C.>

Remarks hosted by the Institute of Regulation & Risk North Asia, Tokyo, Japan.

The authors develop a two-country real business cycle model and examine its consistency with the behavior of relative prices, and the model's implications for economic aggregates at the sectoral level.