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Mitigating Turkey's trilemma tradeoffs
Akcelik, Yasin; Cortuk, Orcan; Turhan, İbrahim - In: Emerging markets finance & trade : a journal of the … 50 (2014) 6, pp. 102-118
Persistent link: https://www.econbiz.de/10011339504
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Monetary policy independence under a flexible exchange rate regime : the Indian case
Grewal, Harpreet Singh; Trivedi, Pushpa L. - 2022
Persistent link: https://www.econbiz.de/10013402160
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The emerging global financial architecture: Tracing and evaluating the new patterns of the Trilemma's configurations
Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2009
countries make with respect to the trilemma: exchange rate stability, monetary independence, and capital account openness, we … investigate the normative questions pertaining to the trilemma, that is, how the policy choices among the three trilemma policies …
Persistent link: https://www.econbiz.de/10010287751
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Assessing the emerging global financial architecture: Measuring the trilemma's configurations over time
Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2009
We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma … international reserve accumulation. The evolution of our trilemma indexes illustrates that, after the early 1990s, industrialized … trilemma variable should be traded-off with a drop of the weighted sum of the other two. The second part of the paper deals …
Persistent link: https://www.econbiz.de/10010287768
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Assessing the emerging global financial architecture: Measuring the trilemma's configurations over time
Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2008
We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma … international reserve accumulation. The evolution of our 'trilemma indexes' illustrates that, after the early 1990s, industrialized … trilemma variable should be traded-off with a drop of the weighted sum of the other two. The second part of the paper deals …
Persistent link: https://www.econbiz.de/10010288158
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Sudden stops and reserve accumulation in the presence of international liquidity risk
Lutz, Flora; Zessner-Spitzenberg, Leopold - 2020
We propose a small open economy model where agents borrow internationally and invest in liquid foreign assets to insure against liquidity shocks, which temporarily shut out the economy of short-term credit markets. Due to the presence of a pecuniary externality individual agents borrow too much...
Persistent link: https://www.econbiz.de/10012425195
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Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Mercantilism
Durdu, Ceyhun Bora; Mendoza, Enrique G.; Terrones, Marco E. - 2007
Financial globalization had a rocky start in emerging economies hit by Sudden Stops. Foreign reserves have grown very rapidly since then, as if those countries were practicing a New Mercantilism that views foreign reserves as a war-chest for defense against Sudden Stops. This paper conducts a...
Persistent link: https://www.econbiz.de/10014221388
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Emerging markets interest rates, international reserves and net foreign assets
Bitar, Joseph; Boileau, Martin - In: Journal of globalization and development 12 (2021) 2, pp. 145-180
Persistent link: https://www.econbiz.de/10013262740
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Catching Up by "Deglobalizing" : Capital Account Policy and Economic Growth
Bergin, Paul R.; Choi, Woo Jin; Pyun, Ju Hyun - National Bureau of Economic Research - 2023
While substantial empirical research has evaluated the question of whether capital account openness promotes economic growth, this paper finds empirical evidence for cases where the opposite is true--that a policy of capital controls can promote economic growth, when combined with a policy of...
Persistent link: https://www.econbiz.de/10014226141
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Postponing Global Adjustment : An Analysis of the Pending Adjustment of Global Imbalances
Truman, Edwin M. - 2005
Halving the US current account deficit as a share of GDP is likely to impose a burden of $2,350 per capita on the United States, which explains why US policymakers want to postpone adjustment. The rest of the world relies on the economic stimulus of a widening US external deficit, which explains...
Persistent link: https://www.econbiz.de/10014063503