We make the first attempt in the literature to empirically examine the spillover effects of U.S. monetary policy on trade in other countries. In a large sector-level bilateral trade dataset of 137 countries for the years 1970-2000, we find strong and robust evidence supporting an international...

This paper first reviews the trade structure between China and the Republic of Korea (hereafter referred as Korea) and the two countries' international capital flow. Then it discusses the effect of the Federal Reserve rate on UIP in both China and Korea, which turns out to be uninfluential...

We review the literature on the empirical characteristics of the global financial cycle and associated stylized facts on international capital flows, asset prices, risk aversion and liquidity in the financial system. We analyse the co-movements of global factors in asset prices and capital flows...

Facing acute strains in the offshore dollar funding markets during the COVID-19 crisis, the Federal Reserve (Fed) implemented measures to provide US dollar liquidity by reinforcing swap arrangements with five major central banks, reactivating them with nine other central banks and establishing a...

Monetary Issues: Monetary Unions: Between International Trade and National Sovereignty -- Why a Monetary Union?- Monetary Policy in a Monetary Union: Lessons from Simple Models -- Institutions and Monetary Policy -- Fiscal Issues: Government Deficits, Transfers and Debt -- Fiscal Policies in a...