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Wyplosz, Charles - Asian Development Bank Institute, Asian Development Bank - 2010

This paper contrasts the United States (US) and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of...

Persistent link: https://www.econbiz.de/10008472647

The Yuan's Exchange Rates and Pass-through Effects on the Prices of Japanese and US Imports

Xing, Yuqing - Asian Development Bank Institute, Asian Development Bank - 2010

This paper estimated the pass-though effects of yuan's exchange rates on prices of the US and Japanese imports from the People's Republic of China (PRC). Empirical results show that, a 1% nominal appreciation of the yuan would result in a 0.23% increase in prices of the US imports in the short...

Persistent link: https://www.econbiz.de/10008485512

Investigating the Effect of Exchange Rate Changes on the People's Republic of China's Processed Exports

Thorbecke, Willem - Asian Development Bank Institute, Asian Development Bank - 2010

Many argue that the yuan needs to appreciate to rebalance the People's Republic of China's trade. However, empirical evidence on the effects of a CNY appreciation on the People's Republic of China's exports has been mixed for the largest category of exports, processed exports. Since much of the...

Persistent link: https://www.econbiz.de/10008487629

Asia's Role in the Global Economic Architecture

Kawai, Masahiro; Petri, Peter - Asian Development Bank Institute, Asian Development Bank - 2010

The global economic and financial landscape has been transformed over the past decade by the growing economic size and financial power of emerging economies. The new G20 summit process, which includes the largest emerging economies, has established high-level international policy cooperation in...

Persistent link: https://www.econbiz.de/10008489383

Macroeconomic Impacts of Foreign Exchange Reserve Accumulation: Theory and International Evidence

Fukuda, Shin-ichi; Kon, Yoshifumi - Asian Development Bank Institute, Asian Development Bank - 2010

foreign exchange reserves, utility-maximizing representative agents decide consumption, capital stock, and labor input, as … a permanent decline in consumption. However, when the tradable sector is capital intensive, the increase may enhance … shortens debt maturity. The results also imply that increased foreign exchange reserves may lead to a decline in consumption …

Persistent link: https://www.econbiz.de/10008489526

Rebalancing the US Economy in a Postcrisis World

Bosworth, Barry; Collins, Susan M. - Asian Development Bank Institute, Asian Development Bank - 2010

The objective of this paper is to explore how the external balance of the United States (US) might evolve in future years as the economy emerges from the recession. We examine the issue from the domestic perspective of the saving and investment balance and from the external side in terms of the...

Persistent link: https://www.econbiz.de/10008587035

International Monetary Transmission and Exchange Rate Regimes: Floaters vs. Non-Floaters

Kim, Soyoung; Yang, Doo Yong - Asian Development Bank Institute, Asian Development Bank - 2009

This paper analyzes the impact of United States (US) monetary shocks on the economies of selected East Asian countries using a structural vector autoregression model. We found that the impacts of the US monetary shocks on domestic interest rates and exchange rates contradict conventional wisdom....

Persistent link: https://www.econbiz.de/10008467184

Reform of the International Financial Architecture: An Asian Perspective

Kawai, Masahiro - Asian Development Bank Institute, Asian Development Bank - 2009

The paper attempts to evaluate whether the international financial architecture is adequate for maintaining the financial stability of the East Asian economies by summarizing the lessons learned from the Asian financial crisis of 1997-1998 and the global financial crisis of 2007-2009 and...

Persistent link: https://www.econbiz.de/10008467185

Financial Crisis and Crisis Management in Sweden. Lessons for Today

Jonung, Lars - Asian Development Bank Institute, Asian Development Bank - 2009

This paper gives an account of the Swedish financial crisis covering the period 1985–2000, dealing with financial deregulation and the boom in the late 1980s, the bust and the financial crisis in the early 1990s, the recovery from the crisis and the bank resolution policy adopted during the...

Persistent link: https://www.econbiz.de/10008467186

How Would an Appreciation of the Yuan Affect the People's Republic of China's Surplus in Processing Trade?

Thorbecke, Willem - Asian Development Bank Institute, Asian Development Bank - 2010

Enormous trade surpluses are problematic for the People's Republic of China (PRC) and the rest of the world. They primarily stem from processing trade. This paper investigates how exchange rate changes would affect the PRC's imports for processing and processed exports. The results indicate that...

Persistent link: https://www.econbiz.de/10008471288