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East Asian countries were notably uninterested in regional monetary integration until the late 1990s, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the...
Persistent link: https://www.econbiz.de/10008632720
questions as the expansion of the eurozone, the institution of monetary unions in Latin America and East Asia, and the effect of … eurozone, discussing, among other topics, its effect on labor market reforms, the empirical validity of the "endogeneity of the … optimum currency criteria" hypothesis, and the integration process of Central European countries into the eurozone. Other …
Persistent link: https://www.econbiz.de/10004973233
Few aspects of the great European integration project have been as difficult and fraught with political conflict as the creation of a single financial market and monetary union. It is clear, however, that monetary union and financial integration are now on the front-burner in Europe, and will...
Persistent link: https://www.econbiz.de/10005233404
Stephen Axilrod is the ultimate Federal Reserve insider. He worked at the Fed’s Board of Governors for more than thirty years and after that in private markets and as a consultant on monetary policy. With Inside the Fed, he offers his unique perspective on the inner workings of the Federal...
Persistent link: https://www.econbiz.de/10008919694
The exchange rate is sometimes called the most important price in a highly globalized world. A country's choice of its exchange rate regime, between government-managed fixed rates and market-determined floating rates has significant implications for monetary policy, trade, and macroeconomic...
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In Money, Payments, and Liquidity, Ed Nosal and Guillaume Rocheteau provide a comprehensive investigation into the economics of money and payments by explicitly modeling trading frictions between agents. Adopting the search-theoretic approach pioneered by Nobuhiro Kiyotaki and Randall Wright,...
Persistent link: https://www.econbiz.de/10010535233