We review the literature on geoeconomics, defined as the field of study that links economics and geopolitics (power rivalry). We describe what geoeconomics is and which questions it addresses, focusing on five main subfields. First, the use of geoeconomic policy tools such as sanctions and...

We review the literature on geoeconomics, defined as the field of study that links economics and geopolitics (power rivalry). We describe what geoeconomics is and which questions it addresses, focusing on five main subfields. First, the use of geoeconomic policy tools such as sanctions and...

We review the literature on geoeconomics, defined as the field of study that links economics and geopolitics (power rivalry). We describe what geoeconomics is and which questions it addresses, focusing on five main subfields. First, the use of geoeconomic policy tools such as sanctions and...

In this paper, we study how the volatility of both realized and expected macroeconomic variables relates to the variation in exchange rate volatility through the prism of the Great Moderation hypothesis. We find significant heterogeneity in exchange rate trend volatility across currency pairs...

Observed international investment positions and cross-country heterogeneity in rates of return to capital are hard to reconcile with frictionless capital markets. In this paper, we develop a theory of international capital allocation: a multi-country dynamic spatial general equilibrium model in...

We review the literature on geoeconomics, defined as the field of study that links economics and geopolitics (power rivalry). We describe what geoeconomics is and which questions it addresses, focusing on five main subfields. First, the use of geoeconomic policy tools such as sanctions and...

The global economy is facing increased economic policy uncertainty in a phase of already moderate momentum. The announcements made by the incoming US administration are the main reason for this. However, it is unclear what measures will actually be taken. This forecast is based on the assumption...

The global economy is facing increased economic policy uncertainty in a phase of already moderate momentum. The announcements made by the incoming US administration are the main reason for this. However, it is unclear what measures will actually be taken. This forecast is based on the assumption...

Observed international investment positions and cross-country heterogeneity in rates of return to capital are hard to reconcile with frictionless capital markets. In this paper, we develop a theory of international capital allocation: a multi-country dynamic spatial general equilibrium model in...

In this paper, we study how the volatility of both realized and expected macroeconomic variables relates to the variation in exchange rate volatility through the prism of the Great Moderation hypothesis. We find significant heterogeneity in exchange rate trend volatility across currency pairs...

We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a novel multi-country dynamic general equilibrium model that incorporates a demand system for international assets. We introduce, estimate and validate new country-level measures...

We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a novel multi-country dynamic general equilibrium model that incorporates a demand system for international assets. We introduce, estimate and validate new country-level measures...

This article provides an analysis of the economic cost incurred by the world through the use of the fiat international reserve currency since the end of the 1971 gold standard system. The article uses the Quantity Theory of Money to provide an empirical manifestation of how reserve currency...

The euro was launched, on 1 January 1999, as a common currency for members of the European Union that complied with the Maastricht Treaty. The Maastricht Treaty calls for the coordination of major macroeconomic policies, such as inflation, budget balance, public debt, and long-term interest...

The reform of the international financial and tax systems has been at the center of global debates in recent years -in the United Nations, the World Bank, the International Monetary Fund, the OECD and the G20. The fourth United Nations Conference on Financing for Development that will take place...

"As international organizations have proliferated, so too has cooperation between them. Cooperative Complexity unravels the ties that bind such organizations by revealing which institutions cooperate with one another and how this impacts the form and effectiveness of global economic governance."

Part I: Facts, Definitions, and Goals -- 1. People: Human Beings in Space and Time -- 2. Prosperity -- 3. From Economic Growth to Sustainability -- 4. A Changing Economic Scenario -- Part II: Theories of Economic Development and Growth -- 5. Production and Distribution of Wealth: The Founding...

Recent international macroeconomics literature on global imbalances explains the U.S. persistent current account deficit and emerging countries' surplus. Little research has been done at the banking-sector level, where U.S. banks are lenders to banks in emerging countries. We build a two-country...

This research offers a comprehensive review of the volatility spillover patterns in the Gulf Cooperation Council (GCC) stock market indexes covering daily data from 2/1/2004 to 5/11/2020. During this period, stock markets experienced fluctuations due to unexpected shocks, such as the...

I show that rising temperatures can detrimentally affect the sovereign creditworthiness of emerging economies. To this end, I collect long-term monthly temperature data of 54 emerging markets. I calculate a country's temperature deviation from its historical average, which approximates...

Global risk and risk aversion shocks have distinct distributional impacts on emerging market capital flows and returns. In particular, we find salient consequences of these different global shocks for tail risk in emerging markets. Open-end mutual fund trading provides a key mechanism linking...

Recent international macroeconomics literature on global imbalances explains the U.S. persistent current account deficit and emerging countries' surplus. Little research has been done at the banking-sector level, where U.S. banks are lenders to banks in emerging countries. We build a two-country...

This study investigates the relationship between tax expense surprise and expected equity returns in emerging markets. Using a broad sample of equities from 27 emerging countries, we find a strong positive link between tax expense surprise and the cross-sectional expected stock returns....

Financial markets are increasingly integrated globally. We examine the extent to which firms from different countries rely on alternative sources of capital, the locations where they raise capital, and the factors that affect these choices. During the 1990-2001 period, firms raised about $25.9...

This research offers a comprehensive review of the volatility spillover patterns in the Gulf Cooperation Council (GCC) stock market indexes covering daily data from 2/1/2004 to 5/11/2020. During this period, stock markets experienced fluctuations due to unexpected shocks, such as the...

This paper investigates the COVID-19 outbreak, explains the policies adopted by governments, and examines the side effects of social distancing on the global economy and international finance. Causal loop diagrams are used to explain the interlinkages amongst the important variables and show the...

Accounting for almost half of global gross domestic product and 70 percent of the world's population, middle-income countries (MICs) face multiple development challenges limiting achievement of the Sustainable Development Goals (SDGs), including poverty and inclusion, climate change, financial...

This festschrift volume presents discussions on contemporary issues in international economics and finance. It is aimed to serve as a reference material for researchers. There are two broad sections of the book -- International Macroeconomics and International Finance. The chapters in the...

A New Keynesian AD-AS Model for India, Incorporating the effect of Covid-19 Pandemic -- Indian Economics: Tragedy of a Forsaken Legacy -- Changing Contours of Union-State Relations -- Disinvestment and Privatisation of Central Public Sector Enterprises in India: Need And Progress -- Fiscal...

Chapter 1 Introduction -- Chapter 2 Theoretical Framework and Literature Review -- Chapter 3 Methodology -- Chapter 4 Political Risk Distribution (PRD) of Chinese OFDI from 2006 to 2017 -- Chapter 5 Country specific Advantage and the “promotion and protection system for the investment...

The political phenomenon of populism has emerged as a significant force in recent decades, with a profound impact on the economic landscape. This book examines the implications of populism for financial markets, identifying it as a key political risk factor. As populist movements gain ground on...

Chapter 1: RMB Internationalization Index -- Chapter 2: Economic and Trade Cooperation and Currency Internationalization: Theoretical and Empirical Analysis -- Chapter 3: Promoting RMB Internationalization Under the RCEP Framework -- Chapter 4: EU-China Comprehensive Agreement on Investment and...