Similar Search Results

Global monetary and financial spillovers: Evidence from a new measure of Bundesbank policy shocks

Cloyne, James S.; Hürtgen, Patrick; Taylor, Alan M. - 2022

Identifying exogenous variation in monetary policy is crucial for investigating central bank policy transmission. Using newly-collected archival real-time data utilized by the Central Bank Council of the German Bundesbank, we identify unexpected changes in German monetary policy from 580 policy...

Persistent link: https://www.econbiz.de/10013412978

The impossible trinity (aka the policy Trilemma): The encyclopedia of financial globalization

Aizenman, Joshua - 2010

The policy Trilemma (the ability to accomplish only two out of three policy objectives -financial integration, exchange … rate stability and monetary autonomy) continues to be a valid macroeconomic framework. The financial globalization during … financial globalization has been the growing exposure of developing countries to costly capital flights and deleveraging crises …

Persistent link: https://www.econbiz.de/10010288118

What is global excess liquidity, and does it matter?

Rüffer, Rasmus; Stracca, Livio - 2006

variables in the world’s three largest economies (the US, the euro area and Japan). …

Persistent link: https://www.econbiz.de/10011604742

International capital flow pressures

Goldberg, Linda S.; Krogstrup, Signe - 2018

This paper presents a new measure of capital flow pressures in the form of a recast exchange market pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is...

Persistent link: https://www.econbiz.de/10011942779

Assessing the emerging global financial architecture: Measuring the trilemma's configurations over time

Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2009

We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma … international reserve accumulation. The evolution of our trilemma indexes illustrates that, after the early 1990s, industrialized … trilemma variable should be traded-off with a drop of the weighted sum of the other two. The second part of the paper deals …

Persistent link: https://www.econbiz.de/10010287768

Assessing the emerging global financial architecture: Measuring the trilemma's configurations over time

Aizenman, Joshua; Chinn, Menzie D.; Ito, Hiro - 2008

We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma … international reserve accumulation. The evolution of our 'trilemma indexes' illustrates that, after the early 1990s, industrialized … trilemma variable should be traded-off with a drop of the weighted sum of the other two. The second part of the paper deals …

Persistent link: https://www.econbiz.de/10010288158

Managed Floats to Damp Shocks like 1982-5 and 2006-9: Field and Laboratory Evidence for Chinese Interest in a Single World Currency

Pope, Robin; Selten, Reinhard; Kube, Sebastian; von … - 2009

laboratory experiment that incorporates more aspects of real world complexity and more different sorts of official and private … sectors should maintain an international exchange rate oriented perspective, or better yet, a single world currency as …

Persistent link: https://www.econbiz.de/10010274185

When countries do not do what they say: Systematic discrepancies between exchange rate regime announcements and de facto policies

Bersch, Julia; Klüh, Ulrich H. - 2007

discrepancies have followed secular trends, which are most likely related to financial globalization and changes in monetary policy …

Persistent link: https://www.econbiz.de/10010427488

Global liquidity: Drivers, volatility and toolkits

Goldberg, Linda S. - 2023

Global liquidity refers to the volumes of financial flows-largely intermediated through global banks and non-bank financial institutions-that can move at relatively high frequencies across borders. The amplitude of responses to global conditions like risk sentiment, discussed in the context of...

Persistent link: https://www.econbiz.de/10014480528

From the great moderation to the global crisis: Exchange market pressure in the 2000s

Aizenman, Joshua; Lee, Jaewoo; Sushko, Vladyslav - 2010

This paper investigates the factors explaining exchange market pressures (EMP) and the hoarding and use of international reserves (IR) by emerging markets during the 2000s, as the Great Moderation turned to the 2008-9 global crisis and great recession. According to our results, both financial...

Persistent link: https://www.econbiz.de/10010333066