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Can a Rapidly-Growing Export-Oriented Economy Smoothly Exit an Exchange Rate Peg? Lessons for China from Japan's High-Growth Era

Eichengreen, Barry - 2005

For China this suggests starting with a modest band widening and a limited increase in flexibility, and not with a … two decades of pegging at 360 yen, Japan decoupled from the dollar on August 1971 and then repegged at a revalued rate of …We analyze the impact of Japan's exit from its peg on exports and investment. The results point to sizeable effects of …

Persistent link: https://www.econbiz.de/10012467052

The Comparative Performance of Fixed and Flexible Exchange Rate Regimes : Interwar Evidence

Eichengreen, Barry - 1989

This paper reports evidence on the characteristics of fixed and flexible exchange rate regimes. It contrasts experience under three interwar exchange rate regimes: the free float of the early 1920s, the fixed rates of 1927-31, and the managed float of the early 1930s. A number of important...

Persistent link: https://www.econbiz.de/10012475948

Is Globalization Today Really Different than Globalization a Hunderd Years Ago?

Bordo, Michael D. - 1999

This paper pursues the comparison of economic integration today and pre 1914 for trade as well as finance, primarily …

Persistent link: https://www.econbiz.de/10012471593

Sui Generis EMU

Eichengreen, Barry - 2008

The thesis of this paper is that there is no historical precedent for Europe's monetary union (EMU). While it is possible to point to similar historical experiences, the most obvious of which were in the 19th century, occurred in Europe, and had "union" as part of their names, EMU differs from...

Persistent link: https://www.econbiz.de/10012464895

Bond Markets as Conduits for Capital Flows : How Does Asia Compare?

Eichengreen, Barry - 2006

We use data on the extent to which residents of one country hold the bonds of issuers resident in another as a measure of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base case in which the purchaser and issuer of the bonds reside...

Persistent link: https://www.econbiz.de/10012466257

The Global Productivity Slump : Common and Country-Specific Factors

Eichengreen, Barry - 2015

Productivity growth is slowing around the world. In 2014, according to the Conference Board's Total Economy Data Base, the growth of total factor productivity (TFP) hovered around zero for the third straight year, down from 1 per cent in 1996-2006 and ½ per cent in 2007-12. In this paper we...

Persistent link: https://www.econbiz.de/10012457113

Halting Inflation in Italy and France After World War II

Casella, Alessandra - 1991

In the aftermath of World War II, Italy and France experienced high inflation. The two countries enacted remarkably … similar economic policy measures, but stabilization came at different times: for Italy at the end of 1947, for France a year …, we use the international comparison to shed light on the nature of the inflationary process and on the cause of its …

Persistent link: https://www.econbiz.de/10012475141

Is Poland at Risk of a Boom-and-Bust Cycle in the Run-Up to Euro Adoption?

Eichengreen, Barry - 2008

We ask whether Poland is at risk of the boom-bust problem that has afflicted economies around the time of euro adoption. Our answer, inevitably, is mixed. On the one hand the fact that Poland is an outlier, credit-growth wise, accentuates the danger of a boom if one believes in mean reversion....

Persistent link: https://www.econbiz.de/10012464209

The Breakup of the Euro Area

Eichengreen, Barry - 2007

The possibility that the euro area might break up was being raised even before the single currency existed. These scenarios were then lent new life five or six years on, when appreciation of the euro and problems of slow growth in various member states led politicians to blame the European...

Persistent link: https://www.econbiz.de/10012465257

Would Collective Action Clauses Raise Borrowing Costs?

Eichengreen, Barry - 2000

We examine the implications for borrowing costs of including collective-action clauses in loan contracts. For a sample of some 2,000 international bonds, we compare the spreads on bonds subject to UK governing law, which typically include collective-action clauses, with spreads on bonds subject...

Persistent link: https://www.econbiz.de/10012471318