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Out of the Box Thoughts About the International Financial Architecture

Eichengreen, Barry J. - 2009

IMF governance reform so that the institution has the legitimacy and efficiency to assume these additional … responsibilities. The paper therefore concludes with some conventional and unconventional proposals for IMF governance reform …

Persistent link: https://www.econbiz.de/10014402489

The international monetary system : where are we and where do we need to go?

Mohan, Rakesh; Patra, Michael Debabrata; Kapur, Muneesh - 2013

Persistent link: https://www.econbiz.de/10010389956

U.S. dollar currency premium in corporate bonds

Caramichael, John; Gopinath, Gita; Liao, Gordon Y. - 2021

We isolate a U.S. dollar currency premium by comparing corporate bonds issued in the dollar and the euro by firms o utside t he U .S. a nd e uro a rea. We make s everal empirical observations that dissect the perceived advantage of borrowing in the dollar. First, while the dollar dominates...

Persistent link: https://www.econbiz.de/10012605639

Global banks' dollar funding : a source of financial vulnerability

Barajas, Adolfo; Deghi, Andrea; Raddatz, Claudio E.; … - 2020

Leading up to the global financial crisis, US dollar activity by global banks headquartered outside the United States played a crucial role in transmitting shocks originating in funding markets. Although post-crisis regulation has improved banking systems' resilience, US dollar funding remains a...

Persistent link: https://www.econbiz.de/10012252271

Do old habits die hard? : central banks and the Bretton Woods gold puzzle

Monnet, Eric; Puy, Damien - 2019

Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves,...

Persistent link: https://www.econbiz.de/10012102163

Destabilizing the global monetary system : Germany's adoption of the gold standard in the early 1870s

Wiegand, Johannes - 2019

prevalent in most German states until then. The reform sparked a series of steps in other countries that ultimately ended global … France, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked … exclusion from the fixed exchange rate system that tied together the major industrial economies. Reform required French …

Persistent link: https://www.econbiz.de/10012009318

Reserve currency blocs : a changing international monetary system?

Tovar, Camilo Ernesto; Mohd Nor, Tania - 2018

What is the extent of currency diversification in the international monetary system? How has it evolved over time? In this paper, we quantify the degree of currency diversification using regression methods of currency co-movements to determine the extent to which national currencies across the...

Persistent link: https://www.econbiz.de/10011799270

Rethinking the Governance of the International Monetary Fund

Mirakhor, Abbas - 2006

voice reform in the IMF that could command broad support. Following John Rawls, we argue that ""justice is the first virtue …

Persistent link: https://www.econbiz.de/10014400266

Debt Maturity and the International Financial Architecture

Jeanne, Olivier - 2004

reform of the international financial architecture. It presents a general equilibrium model in which the need to roll over …

Persistent link: https://www.econbiz.de/10014400965

IMF Applications of Purchasing Power Parity Estimates

Silver, Mick - 2010

The IMF’s main uses of the International Comparison Program’s (ICP) estimates of purchasing power parity (PPP)-adjusted Gross Domestic Product (GDP) are as an element of the formula used to help guide decisions on its members’ quotas and in the World Economic Outlook (WEO). The paper...

Persistent link: https://www.econbiz.de/10014402656