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Large hoarding of international reserves and the emerging global economic architecture
Aizenman, Joshua - 2007
independence, and deeper financial integration. Hoarding international reserves is a key ingredient enhancing the stability of this …
Persistent link: https://www.econbiz.de/10010285334
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The financial crisis and sizable international reserves depletion: From 'fear of floating' to the 'fear of losing international reserves'?
Aizenman, Joshua; Sun, Yi - National Bureau of Economic Research (NBER) - 2009
In this paper we study the degree to which Emerging Markets (EMs) adjusted to the global liquidity crisis by drawing down their international reserves (IR). Overall, we find a mixed and complex picture. Intriguingly, only about half of the EMs depleted their IR as part of the adjustment...
Persistent link: https://www.econbiz.de/10008490434
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On The Need For Fiscal Discipline in an Union
Aizenman, Joshua - National Bureau of Economic Research (NBER) - 1994
This paper investigates the behavior of public debt in countries forming a union (as outlined, e.g., by the Maastricht treaty). We consider a federal union of states where the center has limited control over the spending patterns of the union members, and where the union members' behavior has...
Persistent link: https://www.econbiz.de/10005719935
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Financial Crisis and the Paradox of Under- and Over-Regulation
Aizenman, Joshua - National Bureau of Economic Research (NBER) - 2009
This paper illustrates the paradox of prudential under-regulation in an economy that adopts financial reform, a reform which exposes the economy to future financial crises. There is individual-uncertainty about the crisis incidence, and the probability of the crisis is updated sequentially...
Persistent link: https://www.econbiz.de/10005025653
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Large hoarding of international reserves and the emerging global economic architecture
Aizenman, Joshua - 2007
independence, and deeper financial integration. Hoarding international reserves is a key ingredient enhancing the stability of this …
Persistent link: https://www.econbiz.de/10003855040
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The internationalization of venture capital
Aizenman, Joshua; Kendall, Jake - In: Journal of Economic Studies 39 (2012) 5, pp. 488-511
Purpose – The purpose of this paper is to investigate the factors which affect the market for international venture capital (VC) investments, relying on comprehensive deal-level data sources, covering three decades and about 100 countries. Design/methodology/approach – A gravity analysis...
Persistent link: https://www.econbiz.de/10010814560
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Globalization and developing countries - a shrinking tax base?
Aizenman, Joshua; Jinjarak, Yothin - 2006
globalization as a process that induces countries to embrace greater trade and financial integration, and macro stabilization. This …This paper evaluates the impact of globalization on the tax bases of countries at varying stages of development. We see … openness and financial integration have a positive relationship with hard to collect" taxes, and negative relationship with the …
Persistent link: https://www.econbiz.de/10010285297
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Globalization and developing countries - a shrinking tax base?
Aizenman, Joshua; Jinjarak, Yothin - 2006
globalization as a process that induces countries to embrace greater trade and financial integration. This in turn should shift …This paper evaluates the impact of globalization on tax bases of countries at varying stages of development. We see …
Persistent link: https://www.econbiz.de/10010322726
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Globalization and taste convergence : the cases of wine and beer
Aizenman, Joshua; Brooks, Eileen L. - 2005
and 2000. Convergence occurs even more quickly within groups of countries that have a higher degree of integration. A key … prediction of international trade is confirmed in the data: greater trade integration weakens the association between production …
Persistent link: https://www.econbiz.de/10011520443
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On the paradox of prudential regulations in the globalized economy : international reserves and the crisis ; a reassessment
Aizenman, Joshua - 2009
magnified its costs. Global financial integration produces the by-product of regulatory arbitrageʺ capital tends to flow to …
Persistent link: https://www.econbiz.de/10003854579