This working paper was written by Reuven Glick (Federal Reserve Bank of San Francisco) and Michael Hutchison (University of California, Santa Cruz).In recent years China has faced an increasing trilemma—how to pursue an independent domestic monetary policy and limit exchange rate flexibility,...

This working paper was written by Aidan Yao (Hong Kong Monetary Authority) and Honglin Wang (Hong Kong Institute for Monetary Research).Since their inception in late 2007, the Qualified Domestic Institutional Investor (QDII) funds, which help Chinese investors to invest in foreign capital...

This applied research paper was written by Sean Foley (Macquarie University), Bernt Arne Ødegaard (University of Stavanger), Jiri Svec (University of Sydney) and Angelo Aspris (University of Sydney). The outbreak of the COVID-19 pandemic caused some of the largest — and fastest —market...