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Turnbull, Shann - 2019

Three conditions are suggested for establishing a stable financial system: 1. Only digital money is used. 2. The Internet of Things (IoT) uses a sustainable service of nature essential to maintain the well being of the environment and humans in each region of the planet to automatically...

Persistent link: https://www.econbiz.de/10012894728

Is a Stable Financial System Possible?

Turnbull, Shann - 2018

Persistent link: https://www.econbiz.de/10012931273

Monitoring Financial Stability in Emerging and Frontier Markets

Bicchetti, David - 2017

This paper outlines a methodology to build monthly financial conditions indicators (FCIs) for developing countries, including a Small Island Developing State (SIDS), least developed countries, and transitions economies as defined by the United Nations' classification. The proposed composite...

Persistent link: https://www.econbiz.de/10012955218

Quantitative Easing, Collateral Constraints, and Financial Spillovers

Geanakoplos, John - 2018

The steady application of Quantitative Easing (QE) has been followed by big and non-monotonic eﬀects on international asset prices and international capital flows. These are diﬀicult to explain in conventional models, but arise naturally in a model with collateral. This paper develops a...

Persistent link: https://www.econbiz.de/10012906607

Quantitative Easing, Collateral Constraints, and Financial Spillovers

Geanakoplos, John - 2019

Persistent link: https://www.econbiz.de/10012896238

The economics of instability : an abstract of an excerpt

Veneroso, Frank - 2018

The dominant postwar tradition in economics assumes the utility maximization of economic agents drives markets toward stable equilibrium positions. In such a world there should be no endogenous asset bubbles and untenable levels of private indebtedness. But there are. There is a competing...

Persistent link: https://www.econbiz.de/10011824161

Securitization and aggregate investment efficiency

Mirza, Afrasiab; Stephens, Eric - 2016

This paper studies the welfare properties of competitive equilibria in an economy with incomplete markets subject to idiosyncratic and aggregate shocks. We focus on the role of securitization, whereby borrowers can reduce idiosyncratic asset risk, which enables increased leverage and investment....

Persistent link: https://www.econbiz.de/10012010374

The Chinese Offshore Renminbi Currency and Bond Markets : The Role of Hong Kong

Fung, Hung-Gay - 2012

This paper discusses the role of Hong Kong in China's grand scheme to build up the RMB as a global reserve currency. We … highlight the economic importance of Hong Kong to China in terms of channeling foreign direct investment into China, some of … which, in the future, will be denominated in the RMB. We discuss the development of China's RMB currency swap and deposit …

Persistent link: https://www.econbiz.de/10013108053

The Benefits and Costs of Renminbi Internationalization

Zhang, Liqing - 2014

Despite the increasing recognition that the renminbi (RMB) may eventually become a key global currency, several … firms in the People's Republic of China. The costs include general costs, which complicate monetary policy and exchange rate …

Persistent link: https://www.econbiz.de/10013053582

The benefits and costs of renminbi internationalization

Zhang, Liqing; Tao, Kunyu - 2014

Persistent link: https://www.econbiz.de/10010355227