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environment, the nexus of monetary, exchange rate and trade policies, and globalization. The book explains how these issues have … Monetary Policy: Past and Prospective -- 8. Trade Imbalances and Jobs: A Macro Perspective -- Part IV Globalization and … Financial Markets -- 9. Globalization and Widening Income Inequality -- 10.Economic and Market Prospects for the Medium Term …
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We investigate whether the classic Mundell-Flemming "trilemma" has morphed into a "dilemma" due to financial globalisation. According to the dilemma hypothesis, global financial cycles determine domestic financial conditions regardless of an economy's exchange rate regime and monetary policy...
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Has financial globalisation compromised central banks' ability to manage domestic financial conditions? This paper summarises the results from our recent research, which tackles this question from the bond market perspective for both advanced and emerging market economies. Using an asset pricing...
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