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The stealth erosion of dollar dominance : active diversifiers and the rise of nontraditional reserve currencies

Arslanalp, Serkan; Eichengreen, Barry; Simpson-Bell, Chima - 2022

We document a decline in the dollar share of international reserves since the turn of the century. This decline …, or of changes in coverage of surveys of reserve composition. Strikingly, the decline in the dollar's share has not been … that, along with the dollar, have historically comprised the IMF's Special Drawing Rights. Rather, the shift out of dollars …

Persistent link: https://www.econbiz.de/10013169914

Thin Capitalization Rules and Multinational Firm Capital Structure

Blouin, Jennifer L. - 2014

This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...

Persistent link: https://www.econbiz.de/10014394323

If the Fed acts, how do you react? : the liftoff effect on capital flows

Ahmed, Swarnali - 2015

After more than six years of ultra-low interest rates, a Fed liftoff (rate hike) is just a matter of time. This paper goes back to history to understand the spillover effect - or what is termed in the paper as the 'liftoff' effect - of the previous five Fed liftoffs on capital flows. Using a...

Persistent link: https://www.econbiz.de/10011446331

Revisiting the potential impact to the rest of the Caribbean from opening US-Cuba tourism

Acevedo, Sebastian; Alleyne, Trevor; Romeu, Rafael - 2017

The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is...

Persistent link: https://www.econbiz.de/10011704403

Measuring external risks for Peru : insights from a macroeconomic model for a small open and partially dollarized economy

Han, Fei - 2014

Persistent link: https://www.econbiz.de/10010441764

Does Global Liquidity Matter for Monetary Policy in the Euro Area?

Berger, Helge - 2009

Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for longer-term interest rate and output effects. We find...

Persistent link: https://www.econbiz.de/10014404266

Revisiting the Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries

2015 - Mwase, Nkunde ; Kumah, Francis Y. ed

The economic literature has examined deposit dollarization in nominal terms, typically focusing on the ratio of foreign currency deposits to broad money. However, while private agent demand for foreign currency may remain unchanged in foreign currency terms, there could be large fluctuations in...

Persistent link: https://www.econbiz.de/10014411923

Long-Run Purchasing Power Parity and the Dollar-Sterling Exchange Rate in the 1920's

Taylor, Mark P. - 1990

conclusion that, a form of long-run purchasing-power parity did in fact hold for dollar-sterling during this period. The new …

Persistent link: https://www.econbiz.de/10014395859

The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies

Stein, Jerome L. - 1995

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Persistent link: https://www.econbiz.de/10014395946

Dollarization in Lebanon

Mueller, Johannes - 1994

Persistent link: https://www.econbiz.de/10014395981