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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
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Optimal Monetary Policy in a 'Sudden Stop'
Braggion, Fabio - 2010
In the wake of the 1997-98 financial crises, interest rates in Asia were raised immediately, and then reduced sharply …
Persistent link: https://www.econbiz.de/10012759929
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Capital Flows and the Behavior of Emerging Market Equity Returns
Bekaert, Geert - 2010
Foreign portfolio flows may reflect deep changes in the functioning of an emerging market economy and its capital markets. Using a database of monthly net U.S. equity flows, we investigate the relation of these flows to the behavior of equity returns, the structural characteristics of the...
Persistent link: https://www.econbiz.de/10012763588
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Explaining Foreign Holdings of Asia's Debt Securities : The Feldstein-Horioka Paradox Revisited
Horioka, Charles Yuji - 2015
the Eurozone economies, the US, and developing Asia showing relatively weak home bias and advanced Asia, especially Japan … capital has been flowing from the US and the Eurozone economies to both advanced Asia (especially Japan) and developing Asia … reasons. The main reason in the case of advanced Asia (especially Japan) appears to be higher risk-adjusted returns, whereas …
Persistent link: https://www.econbiz.de/10013011459
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Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?
Blanchard, Olivier J. - 2015
Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, we study whether FXI has been an effective tool to dampen the effects of these inflows on the exchange rate. To deal with endogeneity issues, we look at the...
Persistent link: https://www.econbiz.de/10013018303
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International Differences in the Adoption and Impact of New Information Technologies and New Hr Practices : The Valve-Making Industry in the U.S. And U.K
Bartel, Ann P. - 2015
This paper compares the impact of new IT-enhanced technology on the efficiency of production in the U.S. and the U.K. for one manufacturing industry, valve manufacturing. There is a long-standing question of whether technological change and organizational changes have the same rates of adoption...
Persistent link: https://www.econbiz.de/10012750297
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Labor and the Emerging World Economy
Bloom, David E.; Brender, Adi - 2021
This paper explores the emergence of a world economy since 1950 and its implications for the world's labor force. There are four main sets of conclusions. First, although the integration of national economies since 1950 has been considerable, the world economy is still in its adolescence. Rapid...
Persistent link: https://www.econbiz.de/10013244874
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Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
Ohanian, Lee E. - 2015
Since 1950, the economies of East Asia grew rapidly but received little inter-national capital, while Latin America … flows. We develop a DSGE model of Asia, Latin America, and the Rest ofthe World that features an open-economy business cycle …
Persistent link: https://www.econbiz.de/10013011451
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Capital Flows in Asia
Ito, Takatoshi - 2021
This paper characterizes the capital flows in Asia before and after the Asian currency crisis of 1997. Differences in …
Persistent link: https://www.econbiz.de/10013221289
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Lessons from the Asian Crisis
Mishkin, Frederic S. - 2021
This paper provides an asymmetric information analysis of the recent East Asian crisis. It then outlines several lessons from this crisis. First, there is a strong rationale for an international lender of last resort. Second, without appropriate conditionality for this lending, the moral hazard...
Persistent link: https://www.econbiz.de/10013225947