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The International Monetary System and International Financial System as an Analogy to the Copernican Heliocentric system : A simple multi-layers network model with simultaneous reg...

Bordo, Michael D.; Bastidon, Cécile - National Bureau of Economic Research - 2023

The evolution of the IMS and IFS in the past several hundred years can be viewed through the lens of the Copernican heliocentric system developed over 500 years ago. We trace out the evolution across regimes of the IMS and IFS in terms of network representations of the Copernican system. We...

Persistent link: https://www.econbiz.de/10014372472

Real Exchange Rate and International Reserves in the Era of Financial Integration

Aizenman, Joshua; Ho, Sy Hoa; Luu Duc Toan Huynh; … - National Bureau of Economic Research - 2023

The global financial crisis has brought increased attention to the consequences of international reserves holdings. In an era of high financial integration, we investigate the relationship between the real exchange rate and international reserves using nonlinear regressions and panel threshold...

Persistent link: https://www.econbiz.de/10013537783

"Unusual, Unstable, Complicated, Unreliable and Temporary" Reinterpreting the Ebb and Flow of Globalization

Bordo, Michael D.; Schenk, Catherine R. - National Bureau of Economic Research - 2021

anticipated the collapse of the first era of globalization that began in the mid-nineteenth century. He admonished the short … organize: World War I, Bretton Woods, 1970s Great Inflation and Managed Floating. Each turning point was characterized by …

Persistent link: https://www.econbiz.de/10012599404

Property Rights and Urban Form

Djankov, Simeon; Glaeser, Edward L.; Perotti, Valeria; … - National Bureau of Economic Research - 2021

rights institutions. Indeed, we document world-wide improvements in the quality of institutions facilitating property …

Persistent link: https://www.econbiz.de/10012533342

Geopolitical Shocks And Commodity Market Dynamics : New Evidence From The Russian-Ukraine Conflict

Aizenman, Joshua; Lindahl, Robert; Stenvall, David; … - National Bureau of Economic Research - 2023

We investigate the event-based geopolitical shocks from the Russian invasion of Ukraine on selected agricultural and energy commodities using daily event-based structural vector autoregression (SVAR). We find that the geopolitical shock affects the markets of wheat (3%) and European natural gas...

Persistent link: https://www.econbiz.de/10014447271

Global Universal Basic Skills : Current Deficits and Implications for World Development

Gust, Sarah; Hanushek, Eric Alan; Woessmann, Ludger - National Bureau of Economic Research - 2022

How far is the world away from ensuring that every child obtains the basic skills needed to be internationally … competitive? And what would accomplishing this mean for world development? Based on the micro data of international and regional … skills for 159 countries that cover 98.1% of world population and 99.4% of world GDP. We find that at least two-thirds of the …

Persistent link: https://www.econbiz.de/10013435128

On the Effectiveness of Foreign Exchange Reserves During the 2021-22 U.S. Monetary Tightening Cycle

Ahmed, Rashad; Aizenman, Joshua; Saadaoui, Jamel; … - National Bureau of Economic Research - 2023

This paper examines the role of foreign exchange (FX) reserves and other fundamental factors in explaining cross-country differences in foreign currency depreciation observed over the 2021-22 Federal Reserve monetary policy tightening cycle that led to a sharp appreciation of the US dollar....

Persistent link: https://www.econbiz.de/10014226132

Aufstieg durch Bildung : Bildungspolitik für den Zugang zur gesellschaftlichen Mitte

Woessmann, Ludger - 2009

Persistent link: https://www.econbiz.de/10014010816