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Two-way capital flows and global imbalances: a neoclassical approach
Wang, Pengfei; Wen, Yi; Xu, Zhiwei - Federal Reserve Bank of St. Louis - 2012
Financial capital and fixed capital tend to flow in opposite directions between poor and rich countries. Why? What are the implications of such two-way capital flows for global trade imbalances and welfare in the long run? This paper introduces frictions into a standard two- country neoclassical...
Persistent link: https://www.econbiz.de/10010555013
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The (non-)resiliency of foreign direct investment in the United States during the 2007-2009 financial crisis
Contessi, Silvio; Pace, Pierangelo De - Federal Reserve Bank of St. Louis - 2011
We study the contraction of Foreign Direct Investment (FDI) flows in the United States during the recent financial crisis and show their unusual non-resiliency, which depends in part on the global nature of the economic recession, but also on the increases in the cost of financing FDI in the...
Persistent link: https://www.econbiz.de/10009357967
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Containing risk in the new global financial landscape
Bullard, James - Federal Reserve Bank of St. Louis - 2010
Delivered at the 19th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies After the Crisis: Planning a New Financial Structure, New York City.
Persistent link: https://www.econbiz.de/10010727344
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Monetary policy and the determination of the interest rate and exchange rate in a small open economy with increasing capital mobility
Ahn, Byung Chan - Federal Reserve Bank of St. Louis - 1994
Singapore. The emperical results show that in the Korean case changes in money supply affect the interest rate, but do not … rate and the expected change in the exchange rate, as well as by changes in the money supply; changes in the money supply …
Persistent link: https://www.econbiz.de/10005360575
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International channels of the Fed’s unconventional monetary policy
Bauer, Michael D.; Neely, Christopher J. - Federal Reserve Bank of St. Louis - 2012
Previous research has established that the Federal Reserve large scale asset purchases (LSAPs) significantly influenced international bond yields. This paper analyzes the channels through which these effects occurred. We use dynamic term structure models to decompose international yield changes...
Persistent link: https://www.econbiz.de/10010569173
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The U.S. economy in the aftermath of the financial crisis
Bullard, James - Federal Reserve Bank of St. Louis - 2012
March 2, 2012. Presentation. "The U.S. Economy in the Aftermath of the Financial Crisis." Presented at the Bank of Montreal Lecture in Economics, Simon Fraser University, Vancouver, British Columbia.
Persistent link: https://www.econbiz.de/10010727295
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Policy challenges for central banks in the aftermath of the crisis
Bullard, James - Federal Reserve Bank of St. Louis - 2010
Delivered at the Swedbank Economic Outlook Seminar, Stockholm, Sweden. May 27, 2010
Persistent link: https://www.econbiz.de/10010727346
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The Federal Reserve’s response to the financial crisis: what it did and what it should have done
Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2012
This paper analyzes the Federal Reserve’s major policy actions in response to the financial crisis. The analysis is divided into the pre-Lehman and post-Lehman monetary policies. Specifically, I describe the pre- and post-Lehman monetary policy actions that I believe were appropriate and those...
Persistent link: https://www.econbiz.de/10010592585
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Money and the transmission mechanism in the optimizing IS-LM specification
Nelson, Edward - Federal Reserve Bank of St. Louis - 2003
tends to understate the value of money as an indicator for monetary policy. …
Persistent link: https://www.econbiz.de/10005707651
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Monetary policy: why money matters, and interest rates don’t
Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2012
rate. Money’s role in monetary policy has been tertiary, at best. Indeed, several influential economists have suggested … that money is irrelevant for monetary policy. They suggest that central banks can control inflation by (i) controlling a … rate in order to exert greater control over longer-term rates. I offer an alternative perspective: namely, that money is …
Persistent link: https://www.econbiz.de/10010558739