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Central Banks and Gold Puzzles
Aizenman, Joshua - 2012
We study the curious patterns of gold holding and trading by central banks during 1979-2010. With the exception of … several discrete step adjustments, central banks keep maintaining passive stocks of gold, independently of the patterns of the … real price of gold. We also observe the synchronization of gold sales by central banks, as most reduced their positions in …
Persistent link: https://www.econbiz.de/10012460766
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Central Banks and Gold Puzzles
Aizenman, Joshua - 2012
We study the curious patterns of gold holding and trading by central banks during 1979-2010. With the exception of … several discrete step adjustments, central banks keep maintaining passive stocks of gold, independently of the patterns of the … real price of gold. We also observe the synchronization of gold sales by central banks, as most reduced their positions in …
Persistent link: https://www.econbiz.de/10013109858
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Assessing the emerging global financial architecture : measuring the trilemma's configurations over time
Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - 2008
Persistent link: https://www.econbiz.de/10003791391
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The emerging global financial architecture : tracing and evaluating the new patterns of the Trilemma's configurations
Aizenman, Joshua; Chinn, Menzie David; Itō, 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/10003854752
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Assessing the emerging global financial architecture : measuring the trilemma's configurations over time
Aizenman, Joshua; Chinn, Menzie David; Itō, 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/10003854880
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The impossible trinity ; from the policy trilemma to the policy quadrilemma
Aizenman, Joshua - 2011
The policy Trilemma (the ability to accomplish only two policy objectives out of financial integration, exchange rate stability and monetary autonomy) remains a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced the weighted average of exchange rate stability...
Persistent link: https://www.econbiz.de/10008908358
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The emerging global financial architecture : tracing and evaluating new patterns of the trilemma configuration
Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - In: Journal of international money and finance 29 (2010) 4, pp. 615-641
Persistent link: https://www.econbiz.de/10003992505
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The impossible trinity (aka the policy Trilemma) : the encyclopedia of financial globalization
Aizenman, Joshua - 2010
The policy Trilemma (the ability to accomplish only two out of three policy objectives -financial integration, exchange rate stability and monetary autonomy) continues to be a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced the weighted average of exchange...
Persistent link: https://www.econbiz.de/10008647622
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Special issue: Global liquidity
Aizenman, Joshua (contributor);  … - 2009
Persistent link: https://www.econbiz.de/10003875672
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Understanding global liquidity in a volatile world
Aizenman, Joshua; Chinn, Menzie David; Hutchison, Michael M. - In: Review of international economics 17 (2009) 4, pp. 651-654
Persistent link: https://www.econbiz.de/10003875677