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Surfing the Waves of Globalization : Asia and Financial Globalization in the Context of the Trilemma

Aizenman, Joshua - 2010

Using the "trilemma indexes" developed by Aizenman et al. (2008) that measure the extent of achievement in each of the three policy goals in the trilemma--monetary independence, exchange rate stability, and financial openness--we examine how policy configurations affect macroeconomic...

Persistent link: https://www.econbiz.de/10013145228

East Asian Economies and Financial Globalization in the Post-Crisis World

Aizenman, Joshua - 2016

convergence of the three policy goals in East Asia toward a “middle ground” pre-dates the convergence of these indices in other … known as the most distinct characteristic of Asian EMEs. Financial globalization seems to have made asset prices and …. One big dollar-zone economy that has been increasing its presence in Asia is China. However, China has been recently …

Persistent link: https://www.econbiz.de/10012991684

Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990-2010

Aizenman, Joshua - 2011

We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...

Persistent link: https://www.econbiz.de/10013119605

Large Hoarding of International Reserves and the Emerging Global Economic Architecture

Aizenman, Joshua - 2007

in Asia in the 2000s. These developments may be a symptom of an emerging new global financial architecture, which is …

Persistent link: https://www.econbiz.de/10012776454

International Coordination and Precautionary Policies

Aizenman, Joshua - 2015

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/10013010290

Accounting for Global Covid-19 Diffusion Patterns, January-April 2020

Jinjarak, Yothin - 2020

Key factors in modeling a pandemic and guiding policy-making include mortality rates associated with infections; the ability of government policies, medical systems, and society to adapt to the changing dynamics of a pandemic; and institutional and demographic characteristics affecting citizens'...

Persistent link: https://www.econbiz.de/10012833737

On the Paradox of Prudential Regulations in the Globalized Economy : International Reserves and the Crisis a Reassessment

Aizenman, Joshua - 2021

This paper discusses two pertinent issues dealing with the global liquidity crisis -- global prudential regulation reform, and reassessment of using international reserves in the crisis. We point out the paradox of prudential regulations -- while the identity of economic actors that benefited...

Persistent link: https://www.econbiz.de/10013313755

Living with the Trilemma Constraint : Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries

Aizenman, Joshua - 2013

This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...

Persistent link: https://www.econbiz.de/10013075864

Tax Revenue Trends in Asia and Latin America : A Comparative Analysis

Aizenman, Joshua - 2015

We take stock of and compare tax revenue trends in Asia and Latin America. The tax revenues to GDP ratios increased …

Persistent link: https://www.econbiz.de/10013011112

International Reserves and Swap Lines : Substitutes or Complements?

Aizenman, Joshua - 2010

Developing Asia experienced a sharp surge in foreign currency reserves prior to the 2008-9 crisis. The global crisis …

Persistent link: https://www.econbiz.de/10013146950