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Rule, Instability and Crisis (Le Regole del Gioco, l’instabilità e Le Crisi)
Roncaglia, Alessandro - 2017
of our journal (then entitled BNL Quarterly Review: see Roncaglia 2008). The articles published below have been selected …This special issue of the PSL Quarterly Review includes some articles which appeared over the years in the first series … compromise our efforts to overcome it, or even worse, may generate yet further difficulties. Our journal is starting a new life …
Persistent link: https://www.econbiz.de/10012975237
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Asset Inflation and Monetary Policy
Kindleberger, Charles P. - 2014
Asset inflation, as distinguished from ordinary inflation, the latter referring to rising prices of consumer goods, wholesale commodities, or the national-income deflator, is a phrase not in use in the west, but current in Japan. There are times when assets rise in price in an inflationary way,...
Persistent link: https://www.econbiz.de/10013066124
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Contributions on Monetary and Financial Issues : An Introduction
Roncaglia, Alessandro - 2011
The present issue of PSL Quarterly Review includes three articles: by Mario Sarcinelli, on the need for structural …
Persistent link: https://www.econbiz.de/10013126983
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The Global Crisis and Financial Intermediation in Emerging Market Economies
Moreno, Ramon - 2011
Persistent link: https://www.econbiz.de/10013118459
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Economic Stability and Economic Governance in the Euro Area : What the European Crisis Can Teach on the Limits of Economic Integration
Lupo-Pasini, Federico - 2013
The recent European economic crisis has dramatically exposed the failures of the various institutional mechanisms in place to maintain economic stability in Europe, and has unveiled the difficulty in achieving international coordination on fiscal and financial stability policies. Drawing on the...
Persistent link: https://www.econbiz.de/10013085690
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The Politics of Rescuing the World's Financial System : The Federal Reserve as a Global Lender of Last Resort
Broz, J. Lawrence - 2015
During the financial crisis of 2007-10, the Federal Reserve (Fed) served as a global lender of last resort by establishing currency swap agreements with 14 central banks, including several in East Asia, to provide dollar liquidity to banks in foreign jurisdictions. These agreements were...
Persistent link: https://www.econbiz.de/10013031706
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Volatility spillovers of Federal Reserve and ECB balance sheet expansions to emerging market economies
Apostolou, Apostolos; Beirne, John - 2017
This paper examines volatility spillovers from changes in the size of the balance sheets of the Federal Reserve (FED) and European Central Bank (ECB) to emerging market economies (EMEs) from 2003 to 2014. We find that EME bond markets are most susceptible to positive volatility spillovers from...
Persistent link: https://www.econbiz.de/10011636172
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Managing capital flows in the presence of external risks
Reyes-Heroles, Ricardo; Tenorio, Gabriel - 2017
We introduce external risks, in the form of shocks to the level and volatility of world interest rates, into a small open economy model subject to the risk of sudden stops—large recessions together with abrupt reversals in capital inflows| and characterize optimal macroprudential policy in...
Persistent link: https://www.econbiz.de/10011779580
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A 'Vertical' Analysis of Monetary Policy in Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
During emerging market crises, domestic agents might have sufficient collateral to borrow from the other domestic agents, but they are unable to borrow from foreigners because the country, as a whole, lacks international collateral. In this setting, we show that an (ex-post) optimizing central...
Persistent link: https://www.econbiz.de/10014118568
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Money, power, and monetary regimes
Tcherneva, Pavlina R. - 2016
Money, in this paper, is defined as a power relationship of a specific kind, a stratified social debt relationship, measured in a unit of account determined by some authority. A brief historical examination reveals its evolving nature in the process of social provisioning. Money not only...
Persistent link: https://www.econbiz.de/10011438522