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The international monetary (non-)order and the global capital flows paradox”
Bibow, Jörg - 2008
This paper sets out to investigate the forces behind the so-called "global capital flows paradox" and related "dollar glut" observed in the era of advancing financial globalization. The supposed paradox is that the developing world has increasingly come to pursue policies that result in current...
Persistent link: https://www.econbiz.de/10010266438
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The renminbi's role in the global monetary system
Prasad, Eswar; Ye, Lei - 2012
We analyze three related but distinct concepts concerning the renminbi's role in the global monetary system: (i) internationalization of the currency; (ii) currency convertibility; and (iii) reserve currency status. Their sequencing in relation to other policy goals such as financial sector...
Persistent link: https://www.econbiz.de/10010282485
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War and the international trading system in the twentieth century
Rockoff, Hugh - 2011
Wars have been the main forces shaping the international trading system in the twentieth century. The early years of the twentieth century were dominated by the international gold standard. But as a result of World War I, this system was replaced by the troubled gold exchange standards of the...
Persistent link: https://www.econbiz.de/10010282840
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Crises, what crises?
Campos, Nauro F.; Hsiao, Cheng; Nugent, Jeffrey B. - 2006
Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster … macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises … interdependencies between the two types of crises, feedbacks between the two types of reform, the use of alternative measures of …
Persistent link: https://www.econbiz.de/10010267978
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Reassessing the wage penalty for temps in Germany
Jahn, Elke J. - 2008
As a consequence of the rapid growth of temporary agency employment in Germany, the debate on the poor working conditions of temps, specifically their remuneration, has intensified recently. Using administrative data, the paper shows that the wage gap for German temp workers is rather large and...
Persistent link: https://www.econbiz.de/10010268722
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Estimating the effect of student aid on college enrollment: evidence from a government grant policy reform
Nielsen, Helena Skyt; Sørensen, Torben; Taber, Christopher - 2008
Danish reform. We separately identify the effect of aid from that of other observed and unobserved variables such as parental … income. We exploit the combination of a kinked aid scheme and a reform of the student aid scheme to identify the effect of …
Persistent link: https://www.econbiz.de/10010269155
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The discrete charm of the Washington Consensus
Kregel, Jan - 2008
theory. It concludes by noting that replacing the Consensus will require not only reform of the international financial …
Persistent link: https://www.econbiz.de/10010266622
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International Initiatives to Bring Stability to Financial Integration
Fernández-Arias, Eduardo; Hausmann, Ricardo - 1999
Financial liberalization and integration have generated disappointing results. They were supposed to set up a win-win situation: capital would flow from capital-abundant, low-return, aging industrial countries to capital-scarce, high-return, young emerging countries. Growth in receiving...
Persistent link: https://www.econbiz.de/10010327031
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Hegemonic currencies during the crisis: The dollar versus the euro in a cartalist perspective
Fields, David; Vernengo, Matías - 2011
This paper suggests that the dollar is not threatened as the hegemonic international currency, and that most analysts are incapable of understanding the resilience of the dollar, not only because they ignore the theories of monetary hegemonic stability or what, more recently, has been termed the...
Persistent link: https://www.econbiz.de/10010281749
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Managing financial integration and capital mobility: Policy lessons from the past two decades
Aizenman, Joshua; Pinto, Brian - 2011
The accumulated experience of emerging markets over the last two decades has laid bare the tenuous links between external financial integration and faster growth on the one hand and the proclivity of such integration to fuel costly crises on the other. These crises have not gone without...
Persistent link: https://www.econbiz.de/10010287769