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Surfing the waves of globalization: Asia and financial globalization in the context of the trilemma
Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2011
Using the trilemma indexes developed by Aizenman et al. (2010) that measure the extent of achievement in each of the three policy goals in the trilemma - monetary independence, exchange rate stability, and financial openness - we examine how policy configurations affect macroeconomic...
Persistent link: https://www.econbiz.de/10010331079
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Capital flows and the Swiss franc
Yeșin, Pınar - 2016
The Swiss franc is known to appreciate strongly during financial market turmoil, demonstrating its status as a typical safe haven currency. One possible mechanism behind this appreciation during times of global turmoil is assumed to be higher capital inflows to Switzerland. This paper attempts...
Persistent link: https://www.econbiz.de/10011629988
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The emerging global financial architecture: Tracing and evaluating the new patterns of the Trilemma's configurations
Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2009
Using the indexes we developed (Aizenman, Chinn, and Ito, 2008) to measure the degree of the three policy choices countries make with respect to the trilemma: exchange rate stability, monetary independence, and capital account openness, we investigate the normative questions pertaining to the...
Persistent link: https://www.econbiz.de/10010287751
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Assessing the emerging global financial architecture: Measuring the trilemma's configurations over time
Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2009
We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma during the post Bretton-Woods period. The paper first outlines the new metrics for measuring the degree of exchange rate flexibility, monetary independence, and capital account...
Persistent link: https://www.econbiz.de/10010287768
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Assessing the emerging global financial architecture: Measuring the trilemma's configurations over time
Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2008
We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma during the post Bretton-Woods period. The paper first outlines the new metrics for measuring the degree of exchange rate flexibility, monetary independence, and capital account...
Persistent link: https://www.econbiz.de/10010288158
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From the great moderation to the global crisis: Exchange market pressure in the 2000s
Aizenman, Joshua; Lee, Jaewoo; Sushko, Vladyslav - 2010
EMs experienced greater EMP during the crisis. Greater FDI inflows prior to the crisis were associated with a lower crisis … effect associated with greater FDI inflows. We conclude with an analysis of the factors that account for the trade and …
Persistent link: https://www.econbiz.de/10010333066
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Optimal monetary policy in an open emerging market economy
Iyer, Tara - 2016
The majority of households across emerging market economies are excluded from the financial markets and cannot smooth consumption. I analyze the implications of this for optimal monetary policy and the corresponding choice of domestic versus external nominal anchor in a small open economy...
Persistent link: https://www.econbiz.de/10011776835
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Exchange rate and political risks, again
Clare, Gregory; Gang, Ira N. - 2009
We examine the effects of exchange rate and political risks on foreign direct investment (FDI) for multinationals. Our … strategy is to examine FDI by U.S. firms at two levels: in all industries and on the subset of only firms in manufacturing … present and future variation. Decreasing political risk increases FDI. …
Persistent link: https://www.econbiz.de/10010282834
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Sterilization, monetary policy, and global financial integration
Aizenman, Joshua; Glick, Reuven - 2008
This paper investigates the changing pattern and efficacy of sterilization within emerging market countries as they liberalize markets and integrate with the world economy. We estimate the marginal propensity to sterilize foreign asset accumulation associated with net balance of payments...
Persistent link: https://www.econbiz.de/10010285325
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From the great moderation to the global crisis: Exchange market pressure in the 2000s
Aizenman, Joshua; Lee, Jaewoo; Sushko, Vladyslav - 2010
EMs experienced greater EMP during the crisis. Greater FDI inflows prior to the crisis were associated with a lower crisis … effect associated with greater FDI inflows. We conclude with an analysis of the factors that account for the trade and …
Persistent link: https://www.econbiz.de/10010287754