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Are Industrial-Country Consumption Risks Globally Diversified?

Obstfeld, Maurice - 1993

empirical methodology for answering the question. The tests are based on the proposition that in an integrated world asset …

Persistent link: https://www.econbiz.de/10012474652

Tax Policies for Low-Carbon Technologies

Metcalf, Gilbert E. - 2009

I conclude with some observations on the use of price-based instruments. In particular I discuss how a carbon tax could be designed to achieve environmental goals of emission caps over a control period

Persistent link: https://www.econbiz.de/10012463596

Using Tax Expenditures to Achieve Energy Policy Goals

Metcalf, Gilbert E. - 2008

Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six. Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures...

Persistent link: https://www.econbiz.de/10012464894

External Adjustment

Obstfeld, Maurice - 2004

Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the...

Persistent link: https://www.econbiz.de/10012467846

The Trilemma in History : Tradeoffs among Exchange Rates, Monetary Policies, and Capital Mobility

Obstfeld, Maurice - 2004

The exchange-rate regime is often seen as constrained by the monetary policy trilemma, which imposes a stark tradeoff among exchange stability, monetary independence, and capital market openness. Yet the trilemma has not gone without challenge. Some (e.g., Calvo and Reinhart 2001, 2002) argue...

Persistent link: https://www.econbiz.de/10012468297

The Euro and The Geography of International Debt Flows

Hale, Galina - 2014

Greater financial integration between core and peripheral EMU members not only had an effect on both sets of countries but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits, which inflated their economies by allowing credit booms....

Persistent link: https://www.econbiz.de/10012458631

Does the Current Account Still Matter?

Obstfeld, Maurice - 2012

Do global current account imbalances still matter in a world of deep international financial markets where gross two …" view of the world, large current account imbalances, while very possibly warranted by fundamentals and welcome, can also … increasingly big valuation changes in countries' net international investment positions, while potentially important in risk …

Persistent link: https://www.econbiz.de/10012460782

The International Monetary System : Living with Asymmetry

Obstfeld, Maurice - 2011

system: international liquidity and exchange rate management. Despite radical changes since World War II in the market …

Persistent link: https://www.econbiz.de/10012461016

International Liquidity : The Fiscal Dimension

Obstfeld, Maurice - 2011

financial institutions imply a credit risk that ultimately must be lodged somewhere. Expanded international lending facilities …

Persistent link: https://www.econbiz.de/10012461279

Stories of the Twentieth Century for the Twenty-First

Gourinchas, Pierre-Olivier - 2011

A key precursor of twentieth-century financial crises in emerging and advanced economies alike was the rapid buildup of leverage. Those emerging economies that avoided leverage booms during the 2000s also were most likely to avoid the worst effects of the twenty-first century's first global...

Persistent link: https://www.econbiz.de/10012461405