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Banking globalization, transmission, and monetary policy autonomy

Goldberg, Linda S. - 2013

consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I … address the monetary autonomy issue in the context of the international policy trilemma: Countries seek three typically … desirable but jointly unattainable objectives-stable exchange rates, free international capital mobility, and monetary policy …

Persistent link: https://www.econbiz.de/10010333575

Banking globalization, monetary transmission, and the lending channel

Cetorelli, Nicola; Goldberg, Linda S. - 2008

The globalization of banking in the United States is influencing the monetary transmission mechanism both domestically …

Persistent link: https://www.econbiz.de/10010283555

The shifting drivers of global liquidity

Avdjiev, Stefan; Gambacorta, Leonardo; Goldberg, Linda S.; … - 2017

policy rose substantially in the immediate aftermath of the global financial crisis, peaked around the time of the 2013 … international debt securities. The increased sensitivity of international bank flows to U.S. monetary policy has been driven mainly … that were better capitalized. The post-2013 reversal in the sensitivities to U.S. monetary policy partially reflects the …

Persistent link: https://www.econbiz.de/10011942764

International capital flow pressures

Goldberg, Linda S.; Krogstrup, Signe - 2018

This paper presents a new measure of capital flow pressures in the form of a recast exchange market pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is...

Persistent link: https://www.econbiz.de/10011942779

Global liquidity: Drivers, volatility and toolkits

Goldberg, Linda S. - 2023

provides policy-relevant lessons. International spillovers of monetary policy and risk sentiment through global liquidity … strains during stress events. Country-specific policy challenges, summarized by the monetary and financial trilemmas, are …

Persistent link: https://www.econbiz.de/10014480528

When is US bank lending to emerging markets volatile?

Goldberg, Linda S. - 2001

Using bank-specific data on U.S. bank claims on individual foreign countries since the mid-1980s, this paper 1) characterizes the size and portfolio diversification patterns of the U.S. banks engaging in foreign lending, and 2) econometrically explores the determinants of fluctuations in U.S....

Persistent link: https://www.econbiz.de/10010283397

Central bank dollar swap lines and overseas dollar funding costs

Goldberg, Linda S.; Kennedy, Craig; Miu, Jason - 2010

Following a scarcity of dollar funding available internationally to banks and financial institutions, in December 2007 the Federal Reserve began to establish or expand Temporary Reciprocal Currency Arrangements with fourteen foreign central banks. These central banks had the capacity to use...

Persistent link: https://www.econbiz.de/10010283558

Global banks and international shock transmission: Evidence from the crisis

Cetorelli, Nicola; Goldberg, Linda S. - 2010

interbank, cross-border lending. Policy interventions, such as the Vienna Initiative introduced in Europe, influenced the …

Persistent link: https://www.econbiz.de/10010287023

Micro, macro, and strategic forces in international trade invoicing

Goldberg, Linda S.; Tille, Cédric - 2009

The use of different currencies in the invoicing of international trade transactions plays a major role in the international transmission of economic fluctuations. Existing studies argue that an exporter's invoicing choice reflects structural aspects of its industry, such as market share and the...

Persistent link: https://www.econbiz.de/10010287063