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This paper places current efforts at international economic policy coordination in historical perspective. It argues …
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The Gold Pool (1961-1968) was one of the most ambitious cases of central bank cooperation in history. Major central banks pooled interventions - sharing profits and losses - to stabilize the dollar price of gold. Why did it collapse? From at least 1964, the fate of the Pool was in fact tied to...
Persistent link: https://www.econbiz.de/10012453697
We examine the role of non-economic partnerships in promoting international economic exchange. Since far-sighted countries are more willing to join costly international partnerships such as environmental treaties, environmental engagement tends to encourage international lending. Countries with...
Persistent link: https://www.econbiz.de/10012464658
sheds on current concerns over international policy coordination. The analysis proceeds in three parts. The first part … considers the role for policy coordination as viewed by contemporaries at the start of the period; it takes as a case study the … model developed in this section suggests that the failure to coordinate policies lent a deflationary bias to the world …
Persistent link: https://www.econbiz.de/10012477648
This paper highlights the rare conditions leading to international cooperation, and the reasons why eliciting this cooperation may be beneficial in preventing adverse tail shocks from spiraling into global depressions. In normal times, deeper macro cooperation among countries is associated with...
Persistent link: https://www.econbiz.de/10012456878
This paper discusses the scope, methods, the effects of international coordination of economic policies. In addressing … the scope for and of coordination, the analysis covers the rationale for coordination, barriers to coordination, the range … and specificity of policies to be coordinated, the frequency of coordination, and the size of the coordinating group …
Persistent link: https://www.econbiz.de/10012476394
Building on Baker, Bloom and Davis (2016), I construct a monthly index of Global Economic Policy Uncertainty (GEPU) from January 1997. The GEPU Index is a GDP-weighted average of national EPU indices for 16 countries that account for two-thirds of global output. Each national EPU index reflects...
Persistent link: https://www.econbiz.de/10012455940
Although many modern studies find large and significant effects of prior colonial status on bilateral trade, there is very little empirical research that has focused on the contemporaneous impact of empire on trade. We employ a new database of over 21,000 bilateral trade observations during the...
Persistent link: https://www.econbiz.de/10012464882