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Central banking for financial stability in Asia

Kawai, Masahiro; Morgan, Peter J. - 2012

A key lesson of the 2007 - 2009 global financial crisis (GFC) was the importance of containing systemic financial risk and the need for a "macroprudential" approach to surveillance and regulation that can identify system-wide risks and take appropriate actions to maintain financial stability. By...

Persistent link: https://www.econbiz.de/10010397221

Risk-on/risk-off, capital flows, leverage, and safe assets

McCauley, Robert N. - 2013

This paper describes the international flow of funds associated with calm and volatile global equity markets. During calm periods, portfolio investment by real money and leveraged investors in advanced countries flows into emerging markets. When central banks in the receiving countries resist...

Persistent link: https://www.econbiz.de/10010397222

The persistence of current account balances and its determinants: The implications for global rebalancing

Clower, Erica; Ito, Hiro - 2012

This paper examines the statistical nature of the persistency of current account balances and its determinants. With the assumption that stationary current account series ensures the long-run budget constraint while countries may experience "local non-stationarity" in current account balances,...

Persistent link: https://www.econbiz.de/10010397237

Real estate valuation, current account, and credit growth patterns before and after the 2008 - 2009 crisis

Aizenman, Joshua; Jinjarak, Yothin - 2013

credit growth channels, with the animal-spirits and momentum channels playing the most important role in the boom and bust of …

Persistent link: https://www.econbiz.de/10010397239

The international regulatory regime on capital flows

Lupo Pasini, Federico - 2011

Capital controls and exchange restrictions are used to restrict international capital flows during economic crises. This paper looks at the legal implications of these restrictions and explores the current international regulatory framework applicable to international capital movements and...

Persistent link: https://www.econbiz.de/10010397244

International financial integration and crisis intensity

Rose, Andrew K. - 2012

This paper analyzes the causes of the 2008 - 2009 global financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. The analysis is conducted on a cross-section of 85 countries. It is found that more financially integrated countries do not seem to...

Persistent link: https://www.econbiz.de/10010397248

How low-carbon green growth can reduce inequalities

Anbumozhi, Venkatachalam; Bauer, Armin - 2013

Half of the world's population - 3 billion people - lives below the poverty line, and Asia has the largest share. In … green consumption, production, innovation, and entrepreneurial activity. This paper shows how an inclusive green growth …-income households are recognized as resilient, value-conscious consumers and creative entrepreneurs in the inclusive and green growth …

Persistent link: https://www.econbiz.de/10010397273

Coordinating healthcare and pension policies: An exploratory study

Bali, Azad Singh; Asher, Mukul G. - 2012

Rapid ageing of the population globally represents an unprecedented historical trend. As pension and healthcare costs are positively correlated with rising incomes, ageing, urbanization, and a shift from communicable to life-style diseases, managing these costs is a major challenge. There are...

Persistent link: https://www.econbiz.de/10010397316

From a centralized to a decentralized global economic architecture: An overview

Rana, Pradumna B. - 2013

This paper argues that calls for a New Bretton Woods system in the aftermath of the global economic crisis - similar to the remarkable 1944 Bretton Woods conference that led to the establishment of various international economic institutions - are unlikely to be answered. The likely scenario is...

Persistent link: https://www.econbiz.de/10010397333

Sovereign risk: A macro-financial perspective

Das, Udaibir S.; Oliva, Maria A.; Tsuda, Takahiro - 2012

We examine some of the macro-financial dimensions of sovereign risk and propose a conceptual framework that captures risks other than just the default risk. Morphed under a multi-dimensional notion of sovereign risk, we argue that the existing empirical methodologies to measure sovereign risk...

Persistent link: https://www.econbiz.de/10010397353