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Currency wars, not public debt, may create a financial meltdown : conference paper

Pope, Robin; Selten, Reinhard - 2013

In studies concluding that public debt may hamper GDP growth, the debt tipping effects are estimated as if there were a single global currency. This means that such studies ignore the likely biggest cause of changes in growth rates, namely damage from exchange rate liquidity shocks because we do...

Persistent link: https://www.econbiz.de/10010340537

Currency compositions of international reserves and the euro crisis

Laser, Falk Hendrik; Weidner, Jan - 2020

During recent years, central banks have increased the levels of their international reserves at an unprecedented pace. In this paper, we introduce new country-specific reserve data and examine determinants of the composition of international reserves. Using a dataset of 36 countries (and the...

Persistent link: https://www.econbiz.de/10012169782

Lessons of the European Crisis for Regional Monetary and Financial Integration in East Asia

Volz, Ulrich - 2012

monetary integration and even monetary unification in various parts of the world, including East Asia, the current crisis has …. Based on this analysis, it derives five lessons for regional financial and monetary cooperation and integration in East Asia …

Persistent link: https://www.econbiz.de/10013110301

OECD forecasts during and after the financial crisis : a post mortem

Pain, Nigel; Lewis, Christine; Dang, Thai Thanh; Jin, Yosuke - 2014

This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery, focussing on lessons that can be learned. The projections repeatedly over-estimated growth, failing to anticipate the extent of the slowdown and later the weak pace of the...

Persistent link: https://www.econbiz.de/10010374419

Dealing with quantitative easing spillovers in East Asia : the role of institutions and macroprudential policy

Saiki, Ayako; Pornpinun Chantapacdepong; Volz, Ulrich - 2016

This paper explores the impact of advanced countries' quantitative easing on emerging market economies (EMEs) and how macroprudential policy and good governance play a role in preventing potential financial vulnerabilities. We used confidential locational bank statistics data from the Bank for...

Persistent link: https://www.econbiz.de/10011561633

Trilemma and Financial Stability Configurations in Asia

Aizenman, Joshua - 2011

adjustment to the post-crisis challenges. We point out that emerging Asia has converged to a middle ground of the trilemma …

Persistent link: https://www.econbiz.de/10013118911

Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia

Darvas, Zsolt M. - 2017

This paper compares financial assistance programmes of four euro-area countries (Greece, Ireland, Portugal, and Cyprus) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007/08 global financial and economic crisis-which were supported...

Persistent link: https://www.econbiz.de/10011715721

Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia

Darvas, Zsolt M. - 2017

This paper compares financial assistance programs of four euro-area countries (Greece, Ireland, Portugal, and Cyprus) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007/08 global financial and economic crisis - which were supported...

Persistent link: https://www.econbiz.de/10011635367

Trade, Trade Finance, and Global Liquidity in Asia; Markov-Switching FAVAR Approach

Brooks, Douglas - 2017

This paper analyzes why the global financial crisis in 2008 severely affected Asia's trade. Asia has been suffering … from the falls in export demand from developed countries. However the abrupt trade declines in Asia are not fully explained … developing economies and show different results for different countries in Asia. We employ a Markov-Switching FAVAR (Factor …

Persistent link: https://www.econbiz.de/10012967925

Monetary and exchange rate policy in the aftermath of the Asian financial crisis : the case of Korea

Kim, Jounghyeon - In: The Korean economic review 28 (2012) 1, pp. 91-116

Persistent link: https://www.econbiz.de/10010192148