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Dollar invoicing, global value chains, and the business cycle dynamics of international trade

Cook, David; Patel, Nikhil - 2022

Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the relationship between monetary policy,...

Persistent link: https://www.econbiz.de/10013170273

The Implications of Fiscal Conditions and Growing Internationalization for Monetary Policies and Financial Market Conditions

International Monetary Fund - 1988

The paper argues that the endogenous behavior of monetary authorities provides an important channel through which fiscal policy influences financial variables, and that growing internationalization has increased the sensitivity of financial conditions to fiscal policy. The core of the argument...

Persistent link: https://www.econbiz.de/10014396354

Financial Globalization and Monetary Policy

Devereux, Michael B. - 2007

What does financial globalization imply for the design of monetary policy? Does the case for price stability change in …

Persistent link: https://www.econbiz.de/10014399256

Can countries manage their financial conditions amid globalization?

Arregui, Nicolas; Elekdaǧ, Selim Ali; Gelos, Gaston; … - 2018

This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of advanced and emerging market economies. It finds that a common component, 'global...

Persistent link: https://www.econbiz.de/10011799311

One ring to rule them all? : new evidence on world cycles

Monnet, Eric; Puy, Damien - 2019

business and credit cycles were as strong during Bretton Woods (1950-1972) as during the Globalization period (1984-2006). For …

Persistent link: https://www.econbiz.de/10012103742

Implications of Globalization for Monetary Policy

Wagner, Helmut - 2001

This paper argues that the implications of globalization for monetary policy come mainly through two channels: On the … one hand, the many structural changes that are associated with the globalization process cause an increase in the … integration, globalization increases international competition, thereby forcing market players to make structural adjustments or …

Persistent link: https://www.econbiz.de/10014400874

Challenges to Monetary Policy From Financial Globalization : The Case of India

Prasad, A. - 2008

The question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with … countries that have adapted to financial globalization, drawing lessons for India. While we find no strong relationship between …

Persistent link: https://www.econbiz.de/10014401391

Flattening of the Phillips Curve : Implications for Monetary Policy

Iakova, Dora M. - 2007

. This development has been attributed, in part, to globalization forces. A small macroeconomic model, estimated on UK data … the implications of a globalization-related flattening of the Phillips curve for the trade-off between inflation and …

Persistent link: https://www.econbiz.de/10014403029

The structural determinants of the labor share in Europe

Dimova, Dilyana - 2019

globalization hurt sectors where jobs are routinizable but helped others that require specialized skills. High-skilled professionals … share owing to globalization and the erosion of labor market safety nets …

Persistent link: https://www.econbiz.de/10012009975

Trade, jobs, and inequality

Beaton, Kimberly; Cerra, Valerie; Hadzi-Vaskov, Metodij - 2021

This paper examines the impact of trade on employment, wages, and other outcomes across countries and explores the conditions and policies that help spread the gains from trade more evenly throughout the population. We exploit a large global firm-level dataset to examine the impact of import...

Persistent link: https://www.econbiz.de/10012605685