The paper examines the greater use in the past decade of money market instruments in the conduct of monetary policy by the central banks, or their equivalent, in six of the main East Asian developing economies. Some of these economies have been successful in using various money market...

This paper presents a break-down of the export and import performance of select East Asian countries into price and volume effects. The results show that in aggregate, the decline in export revenue experienced by these countries in 1998 was largely due to a 9.1 percent fall in prices, and that...

a speech at the Federal Reserve Bank of San Francisco, San Francisco, California, Nov. 29, 2011

This paper builds a baseline two-country model of real and monetary transmission under optimal international price discrimination. Distributing traded goods to consumers requires nontradables; because of distributive trade, the price elasticity of export demand depends on the exchange rate....