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Exchange Market Pressure and Absorption by International Reserves : Emerging Markets and Fear of Reserve Loss During the 2008-09 Crisis

Aizenman, Joshua - 2010

This paper evaluates how the global financial crisis emanating from the U.S. was transmitted to emerging markets. Our focus is on the extent that the crisis caused external market pressures (EMP), and whether the absorption of the shock was mainly through exchange rate depreciation or the loss...

Persistent link: https://www.econbiz.de/10012462335

Exchange market pressure and absorption by international reserves : emerging markets and fear of reserve loss during the 2008-09 crises

Aizenman, Joshua; Hutchison, Michael M. - 2010

Persistent link: https://www.econbiz.de/10008699190

Capital Markets Integration, Volatility and Persistence

Aizenman, Joshua - 1995

This paper shows that volatility induces adverse first order welfare effects in countries excluded from the global capital market. This result is illustrated in a model characterized by gains from a greater division of activities, where shocks are persistent. We show that non-linearities...

Persistent link: https://www.econbiz.de/10012473636

East Asian Economies and Financial Globalization In the Post-Crisis World

Aizenman, Joshua - 2016

. One big dollar-zone economy that has been increasing its presence in Asia is China. However, China has been recently … decades, whereas China's has been on a rising trend, yet the share of trade among Asian economies with the dollar zone … making efforts to "internationalize" its currency, the yuan (RMB). Hence, if China succeeds in its internationalization …

Persistent link: https://www.econbiz.de/10012456407

International Coordination and Precautionary Policies

Aizenman, Joshua - 2015

This paper highlights the rare conditions leading to international cooperation, and the reasons why eliciting this cooperation may be beneficial in preventing adverse tail shocks from spiraling into global depressions. In normal times, deeper macro cooperation among countries is associated with...

Persistent link: https://www.econbiz.de/10012456878

Challenges to Globalization : Analyzing the Economics

Aizenman, Joshua (contributor); … - 2007

People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO,...