Narrow search
Showing 1 - 10 of 18
Cover Image
The Mirage of Fixed Exchange Rates
Obstfeld, Maurice; Rogoff, Kenneth - 2021
This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …
Persistent link: https://www.econbiz.de/10013242908
Cover Image
International Institutions for Reducing Global Financial Instability
Rogoff, Kenneth - 2022
This paper asks how recent developments in research on banking and sovereign lending can help inform the debate on choosing a new international financial architecture. A broad range of plans is considered, including a global lender of last resort facility, an international bankruptcy court, an...
Persistent link: https://www.econbiz.de/10013322108
Cover Image
Financial Globalization, Growth and Volatility in Developing Countries
Prasad, Eswar S. - 2012
and quality of governance are crucial in helping developing countries derive the benefits of globalization. Similarly …This paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on …, we do find that financial globalization can be beneficial under the right circumstances. Empirically, good institutions …
Persistent link: https://www.econbiz.de/10013106022
Cover Image
Elections and Macroeconomic Policy Cycles
Rogoff, Kenneth; Sibert, Anne - 2010
There is an extensive empirical literature on political business cycles, but its theoretical foundations are grounded in pre-rational expectations macroeconomic theory. Here we show that electoral cycles in taxes, government spending and money growth can be modeled as an equilibrium signaling...
Persistent link: https://www.econbiz.de/10014105336
Cover Image
A Decade of Debt
Reinhart, Carmen M. - 2011
recorded since the end of World War II, surpassing the heights reached during the First World War and the Great Depression. At …
Persistent link: https://www.econbiz.de/10013129128
Cover Image
Serial Default and the "Paradox" of Rich to Poor Capital Flows
Reinhart, Carmen M. - 2012
Lucas (1990) argued that it was a paradox that more capital does not flow from rich countries to poor countries. He rejected the standard explanation of expropriation risk and argued that paucity of capital flows to poor countries must instead be rooted in externalities in human capital...
Persistent link: https://www.econbiz.de/10013116221
Cover Image
The Country Chronologies to Exchange Rate Arrangements into the 21st Century : Will the Anchor Currency Hold?
Ilzetzki, Ethan - 2017
Detailed country-by-country chronologies are an informative companion piece to our paper “Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?,” which provides a comprehensive history of anchor or reference currencies, exchange rate arrangements, and a new measure of...
Persistent link: https://www.econbiz.de/10012963735
Cover Image
Exchange Arrangements Entering the 21st Century : Which Anchor Will Hold?
Ilzetzki, Ethan - 2017
. Our central finding is that the US dollar scores (by a wide margin) as the world's dominant anchor currency and, by some …
Persistent link: https://www.econbiz.de/10012963738
Cover Image
Three Epochs of Oil
Dvir, Eyal - 2009
, the real price of oil has tended to be highly persistent and volatile whenever rapid industrialization in a major world …
Persistent link: https://www.econbiz.de/10013160159
Cover Image
Why is the Euro Punching Below its Weight?
Ilzetzki, Ethan - 2020
On the twentieth anniversary of its inception, the euro has yet to expand its role as an international currency. We document this fact with a wide range of indicators including its role as an anchor or reference in exchange rate arrangements—which we argue is a portmanteau measure—and as a...
Persistent link: https://www.econbiz.de/10012841416