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Rethinking the Economics of Capital Mobilityand Capital Controls
Palley, Thomas I. - 2009
This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary...
Persistent link: https://www.econbiz.de/10010460473
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A double-edged sword: High interest rates in capital-control regimes
2009
Persistent link: https://www.econbiz.de/10014306479
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Managing global financial flows at the cost of national autonomy: China and India
Sen, Sunanda - 2012
Persistent link: https://www.econbiz.de/10010318671
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Global monetary and financial spillovers: Evidence from a new measure of Bundesbank policy shocks
Cloyne, James S.; Hürtgen, Patrick; Taylor, Alan M. - 2022
Identifying exogenous variation in monetary policy is crucial for investigating central bank policy transmission. Using newly-collected archival real-time data utilized by the Central Bank Council of the German Bundesbank, we identify unexpected changes in German monetary policy from 580 policy...
Persistent link: https://www.econbiz.de/10013412978
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Banking globalization, transmission, and monetary policy autonomy
Goldberg, Linda S. - 2013
address the monetary autonomy issue in the context of the international policy trilemma: Countries seek three typically … trilemma could bind tighter and interest rates will exhibit more co-movement across countries. However, if the information … can weaken the trilemma rather than enhance it. The result is a prediction of heterogeneous effects on monetary autonomy …
Persistent link: https://www.econbiz.de/10010333575
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Capital controls, exchange rate volatility and risk premium
Frenkel, Michael; Stadtmann, Georg - 2002
Capital controls lower the variability of the exchange rate and reduce the risk premium as well as the domestic interest rate. On the other hand, capital controls reduce the number of noise traders and, therefore, the risk-bearing capacity of the market, leading to higher interest rates and a...
Persistent link: https://www.econbiz.de/10010301757
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Do markets care about central bank governor changes?: evidence from emerging markets
Moser, Christoph; Dreher, Axel - 2007
Central bank governor changes in emerging markets may convey important signals about future monetary policy. Based on a new daily data set, this paper examines the reactions of foreign exchange markets, domestic stock market indices and sovereign bond spreads to central bank governor changes....
Persistent link: https://www.econbiz.de/10010275868
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Global liquidity: Drivers, volatility and toolkits
Goldberg, Linda S. - 2023
Global liquidity refers to the volumes of financial flows-largely intermediated through global banks and non-bank financial institutions-that can move at relatively high frequencies across borders. The amplitude of responses to global conditions like risk sentiment, discussed in the context of...
Persistent link: https://www.econbiz.de/10014480528
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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 …. Emerging Markets responded by adding financialstability to the three Trilemma policy goals, coupling their growing financial …
Persistent link: https://www.econbiz.de/10010288118
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The international regulatory regime on capital flows
Lupo Pasini, Federico - 2011
Capital controls and exchange restrictions are used to restrict international capital flows during economic crises. This paper looks at the legal implications of these restrictions and explores the current international regulatory framework applicable to international capital movements and...
Persistent link: https://www.econbiz.de/10010397244