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International Policy Coordination : The Long View

Eichengreen, Barry - 2013

This paper places current efforts at international economic policy coordination in historical perspective. It argues that successful cooperation is most likely in four sets of circumstances. First, when it centers on technical issues. Second, when cooperation is institutionalized - when...

Persistent link: https://www.econbiz.de/10013091942

Transmission of the U.S. Subprime Crisis to Emerging Markets : Evidence on the Decoupling-Recoupling Hypothesis

Dooley, Michael P. - 2010

We find that emerging markets appeared to be somewhat insulated from developments in U.S. financial markets from early 2007 to summer 2008. From that point on, however, emerging markets responded very strongly to the deteriorating situation in the U.S. financial system and real economy. Policy...

Persistent link: https://www.econbiz.de/10013152377

Exchange Rate Regimes and Capital Mobility : How Much of the Swoboda Thesis Survives?

Eichengreen, Barry - 2010

Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...

Persistent link: https://www.econbiz.de/10012759200

Was There Really an Earlier Period of International Financial Integration Comparable to Today?

Bordo, Michael D.; Eichengreen, Barry; Kim, Jongwoo - 2021

In this paper we reconsider the international market integration, starting at high levels in the late nineteenth century, collapsing between the wars, and recovering gradually after 1945 to reach levels comparable to pre-1914 in the 1990's. The empirical evidence we survey suggests that in some...

Persistent link: https://www.econbiz.de/10013225815

Global Imbalances and the Lessons of Bretton Woods

Eichengreen, Barry - 2021

, with the spread of globalization, there is a new periphery, Asia, but the same old core, the United States, with the same … interest. This image of the current system as Bretton Woods reborn also overlooks how the world has changed since the 1960s … resembling the Bretton Woods System, it is not long for this world …

Persistent link: https://www.econbiz.de/10013243400

The Revived Bretton Woods System's First Decade

Dooley, Michael P. - 2014

The revived Bretton Woods framework we proposed in 2003 remains a useful way to understand the international financial system. We document that the system survived the 2008 crisis. Looking forward, we argue that the system will continue to evolve as we expected. China is likely to graduate from...

Persistent link: https://www.econbiz.de/10013047779

The Role of History in Bilateral Trade Flows

Eichengreen, Barry; Irwin, Douglas A. - 2021

This paper investigates the theory and evidence that history plays a role in shaping the direction of international trade. Because there are reasons to anticipate a positive correlation between the predominant direction of trade flows in the past and membership in preferential arrangements in...

Persistent link: https://www.econbiz.de/10013212584

The Impact of China on the Exports of Other Asian Countries

Eichengreen, Barry; Rhee, Yeongseop; Tong, Hui - 2021

We analyze the impact of China's growth on the exports of other Asian countries. Our innovation is to distinguish the increase in China's demand for imports from its increased penetration of export markets. Using the gravity model, we disaggregate among commodity types and account for the...

Persistent link: https://www.econbiz.de/10013225046

The Two Crises of International Economics

Dooley, Michael P. - 2010

In this essay, we argue that key assumptions in international macroeconomic theory, though useful for understanding the economic relationships among developed countries, have been pushed beyond their competence to include relationships between developed economies and emerging markets. The...

Persistent link: https://www.econbiz.de/10012759976

When Did the Dollar Overtake Sterling as the Leading International Currency? Evidence from the Bond Markets

Chitu, Livia - 2012

This paper offers new evidence on the emergence of the dollar as the leading international currency, focusing on its role as currency of denomination in global bond markets. We show that the dollar overtook sterling much earlier than commonly supposed, as early as in 1929. Financial market...

Persistent link: https://www.econbiz.de/10013106301