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Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates
Georgiadis, Georgios; Zhu, Feng - 2019
We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...
Persistent link: https://www.econbiz.de/10011997477
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Dilemma and global financial cycle : evidence from capital account liberalisation episodes
Li, Xiang - 2021 - This version: October 2021
By focusing on the episodes of substantial capital account liberalisation and adopting a new methodology, this paper provides new evidence on the dilemma and global financial cycle theory. I first identify the capital account liberalisation episodes for 95 countries from 1970 to 2016, and then...
Persistent link: https://www.econbiz.de/10012695669
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Solving Global Financial Imbalances : A Plan for a World Financial Authority
Mirandola, Carlos Mauricio - 2013
This paper will propose a plan to reform international finance – the World Financial Authority (WFA) Plan. Under such a … effective, regaining traction and preventing contagion. A central instrument to this end is the creation of the World Financial … surrendered to the WFA by member countries. The WFA is being thought as a device to support the financial globalization, as well …
Persistent link: https://www.econbiz.de/10013095450
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Brexit and the implications for financial services : edited by Patricia Jackson, introduced by Morten Balling, Ernest Gnan and Patricia Jackson; contributions by Franklin Allen, Jo...
Jackson, Patricia; Balling, Morten; Gnan, Ernest; … - Conference on "Brexit and the Implications for …; … - 2017
On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for...
Persistent link: https://www.econbiz.de/10011712197
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The impossible trinity ; from the policy trilemma to the policy quadrilemma
Aizenman, Joshua - 2011
stability and monetary autonomy) remains a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced … globalization is the growing exposure of developing countries to capital flights, and deleveraging crises. The significant costs …
Persistent link: https://www.econbiz.de/10008908358
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The quest for global monetary policy coordination
Bruni, Franco; Siaba Serrate, José; Villafranca, Antonio - 2018
This paper puts forward a proposal to help monetary policies confront the challenge of the "normalisation" of money creation and interest rates. The difficult unwinding of years of unorthodox policies put financial stability at risk in major monetary centres and in EMEs. The authors argue that...
Persistent link: https://www.econbiz.de/10011885373
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The quest for global monetary policy coordination
Bruni, Franco; Siaba Serrate, José; Villafranca, Antonio - 2019
This paper puts forward a proposal to help monetary policies confront the challenge of the “normalisation” of money creation and interest rates. The difficult unwinding of years of unorthodox policies put financial stability at risk in major monetary centres and in EMEs. The authors argue...
Persistent link: https://www.econbiz.de/10011955414
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China's exchange rate and financial repression : the conflicted emergence of the renminbi as an international currency
McKinnon, Ronald I.; Schnabl, Gunther - 2014
China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial markets in RMB, the Chinese authorities are essentially trapped into maintaining exchange controls-reinforced by financial repression in domestic interest rates→to avoid an...
Persistent link: https://www.econbiz.de/10010249643
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Trilemmas and tradeoffs : living with financial globalization
Obstfeld, Maurice - In: The Asian Monetary Policy Forum : insights for central …, (pp. 16-84). 2021
Persistent link: https://www.econbiz.de/10013275484
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The international policy trilemma in the post-Bretton Woods era
Mandilaras, Alex S. - In: Journal of macroeconomics 44 (2015), pp. 18-32
Persistent link: https://www.econbiz.de/10011570274