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From World Banker to World Venture Capitalist : US External Adjustment and the Exorbitant Privilege
Gourinchas, Pierre-Olivier - 2005
Does the center country of the International Monetary System enjoy an "exorbitant privilege" that significantly weakens its external constraint as has been asserted in some European quarters? Using a newly constructed dataset, we perform a detailed analysis of the historical evolution of US...
Persistent link: https://www.econbiz.de/10012467115
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The US Current Account Deficit and Economic Development : Collateral for a Total Return Swap
Dooley, Michael P. - 2004
We argue that a chronic US current account deficit is an integral and sustainable feature of a successful international monetary system. The US deficit supplies international collateral to the periphery. International collateral in turn supports two-way trade in financial assets that liberates...
Persistent link: https://www.econbiz.de/10012467963
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From Benign Neglect to Malignant Preoccupation : U.S. Balance-of-Payments Policy in the 1960s
Eichengreen, Barry - 2000
U.S. balance-of-payments problems in the 1960s remain poorly understood. In this paper I argue that they had two aspects. On the one hand there was a problem of real overvaluation, evident in the erosion of the current account and reflecting the reluctance of the Fed, the Executive and Congress...
Persistent link: https://www.econbiz.de/10012471141
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Direct Investment, Rising Real Wages and the Absorption of Excess Labor in the Periphery
Dooley, Michael P. - 2004
This paper sets out the political economy behind Asian governments' participation in a revived Bretton Woods System. The overriding problem for these governments is to rapidly integrate a large pool of underemployed labor into the industrial sector. The principal constraints are inefficient...
Persistent link: https://www.econbiz.de/10012468066
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International Costs and Benefits from EMU
Alogoskoufis, George - 1990
In this paper we examine the international implications of monetary union in the European Community (EMU), and the associated international costs and benefits. We consider prospective changes in international institutions, the potential role of the ecu as an international currency, and the...
Persistent link: https://www.econbiz.de/10012475649
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How Do Fixed-Exchange-Rates Regimes Work : The Evidence From The Gold Standard, Bretton Woods and The EMS
Giovannini, Alberto - 1988
This paper defines two competing hypotheses on the working of fixed exchange rates. The "symmetry" hypothesis states that every country is concerned with the good functioning of the system, and cannot afford to deviate from world averages. Every country is just left to follow the rules of the...
Persistent link: https://www.econbiz.de/10012476294
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U.S. Intervention During the Bretton Woods Era : 1962-1973
Bordo, Michael D. - 2011
By the early 1960s, outstanding U.S. dollar liabilities began to exceed the U.S. gold stock, suggesting that the United States could not completely maintain its pledge to convert dollars into gold at the official price. This raised uncertainty about the Bretton Woods parity grid, and speculation...
Persistent link: https://www.econbiz.de/10012461711
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Patent Rights, Product Market Reforms, and Innovation
Aghion, Philippe - 2013
positively to the product market reform in industries of countries where patent rights are strong, not where these are weak. The … positive response to the reform is more pronounced in industries in which innovators rely more on patenting than in other …
Persistent link: https://www.econbiz.de/10012459807
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Managing to Learn
Beg, Sabrin; Fitzpatrick, Anne E.; Lucas, Adrienne M. - National Bureau of Economic Research - 2023
sector managers can signal reform effectiveness through personal commitment, acting as leaders …
Persistent link: https://www.econbiz.de/10014421182
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Occupational Hazard? An Analysis of Birth Outcomes Among Physician Mothers
Jena, Anupam B.; Slusky, David; Springer, Lilly - National Bureau of Economic Research - 2023
Education 2011 duty hour reform, which lowered trainee work hours, impacted the birth outcomes of babies born to physicians … driven by physicians in surgical specialties. However, the duty hour reform appears to not have impacted birth outcomes. Thus …, we find that physicians tend to have worse birth outcomes than lawyers and, in this case, the work reform did little to …
Persistent link: https://www.econbiz.de/10014447276