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Monetary Policy in a Changing International Environment : The Role of Global Capital Flows
Feldstein, Martin - 2005
More recently, Alan Greenspan and John Helliwell have shown that the link between domestic saving and domestic investment became substantially weaker after the mid-1990s. The research reported in the current paper suggests that this is true of the smaller OECD countries but not of the larger...
Persistent link: https://www.econbiz.de/10012466816
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Monetary Policy Cooperation/Coordination and Global Financial Crises in Historical Perspective
Bordo, Michael D. - 2020
The COVID-19 pandemic spawned a global liquidity crisis in March 2020. The global liquidity crisis was alleviated by the Federal Reserve and other advanced country central banks cooperating by extending the swap lines they developed in the Global Financial Crisis 2007-2008. Central bank...
Persistent link: https://www.econbiz.de/10012482117
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International Finance
Obstfeld, Maurice - 1986
time, the definition of external balance has evolved in response to changes in the world economy's structure. The foreign …
Persistent link: https://www.econbiz.de/10012476993
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The International Monetary and Financial System
Gourinchas, Pierre-Olivier - 2019
International currencies fulfill different roles in the world economy with important synergies across those roles. We …
Persistent link: https://www.econbiz.de/10012479732
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Exchange Rate Regimes and Capital Mobility : How Much of the Swoboda Thesis Survives?
Eichengreen, Barry - 2008
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/10012464545
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Global Imbalances and the Lessons of Bretton Woods
Eichengreen, Barry - 2004
, 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/10012468196
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Was There Really an Earlier Period of International Financial Integration Comparable to Today?
Bordo, Michael D. - 1998
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/10012472076
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The Emergence of the Euro as an International Currency
Portes, Richard - 1998
two effects interact, as we demonstrate. We use a three-region world model as a framework for alternative steady …
Persistent link: https://www.econbiz.de/10012472384
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International Monetary Relations : Taking Finance Seriously
Obstfeld, Maurice - 2017
changing demands for modern central bank interventions in the economy. Financial instability, followed by WWII, left a world …
Persistent link: https://www.econbiz.de/10012455241
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The International Monetary System and International Financial System as an Analogy to the Copernican Heliocentric system : A simple multi-layers network model with simultaneous reg...
Bordo, Michael D.; Bastidon, Cécile - National Bureau of Economic Research - 2023
The evolution of the IMS and IFS in the past several hundred years can be viewed through the lens of the Copernican heliocentric system developed over 500 years ago. We trace out the evolution across regimes of the IMS and IFS in terms of network representations of the Copernican system. We...
Persistent link: https://www.econbiz.de/10014372472