Content
June 2014, Volume 17, Issue 2
- 209-240 Real Exchange Rate Persistence in US Dollar PPP Systems
by William J. Crowder - 241-256 Economic Policy Uncertainty and Exchange Rate Volatility
by Robert Krol - 257-271 Understanding Exchange Rate Behaviour
by Yu-chin Chen
March 2014, Volume 17, Issue 1
- 1-23 Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany
by Claudia M. Buch & Esteban Prieto - 25-50 Sovereign Yield Spreads During the Euro Crisis: Fundamental Factors Versus Redenomination Risk
by Jens Klose & Benjamin Weigert - 51-75 What Is a Prime Bank? A Euribor–OIS Spread Perspective
by Marco Taboga - 77-98 Communications Challenges for Multi-Tasking Central Banks: Evidence, Implications
by Pierre L. Siklos - 99-119 Monetary Policy in a Downturn: Are Financial Crises Special?
by Morten L. Bech & Leonardo Gambacorta & Enisse Kharroubi - 121-134 The Never-Ending Debate on Capital Flows
by Gianluca Benigno
December 2013, Volume 16, Issue 3
- 289-310 Does Government Debt Affect Bank Credit?
by Riccardo De Bonis & Massimiliano Stacchini - 311-331 Vulnerability, Crises and Debt Maturity: Do IMF Interventions Increase Reliance on Short-Term Debt?
by Diego Saravia - 333-361 Capital Inflows to Greece, Spain, Portugal and Ireland: A Sector-Level View
by André Ebner - 363-392 Intraday Liquidity and Central Bank Credit in Gross Payment Systems
by Francisco J. Callado Muñoz & Natalia Utrero González - 393-422 Firm Debt Renegotiation, Reorganization Filing and Bank Relationships
by Jiang-Chuan Huang & Chin-Sheng Huang & Hueh-Chen Lin - 423-441 Rebalancing a Tripartite World: Three Perspectives on Adjustment Policies
by Matthew Saal
June 2013, Volume 16, Issue 2
- 131-160 Pure or Wake-up-Call Contagion? Another Look at the EMU Sovereign Debt Crisis
by Raffaela Giordano & Marcello Pericoli & Pietro Tommasino - 161-188 Pricing of Sovereign Credit Risk: Evidence from Advanced Economies during the Financial Crisis
by C. Emre Alper & Lorenzo Forni & Marc Gerard - 189-211 The Response Speed of the International Monetary Fund
by Ashoka Mody & Diego Saravia - 213-244 Foreign Investors under Stress: Evidence From India
by Ila Patnaik & Ajay Shah & Nirvikar Singh - 245-271 On the Limits of Transparency: The Role of Imperfect Central Bank Knowledge
by Marcelo Sánchez - 273-288 A New Paradigm for Monetary Policy?
by Otmar Issing
February 2013, Volume 16, Issue 1
- 1-22 Cross-Border Banking in Europe and Financial Stability
by Dirk Schoenmaker & Wolf Wagner - 23-44 Structural Reforms and Macroeconomic Performance in the Euro Area Countries: A Model-Based Assessment
by Sandra Gomes & Pascal Jacquinot & Matthias Mohr & Massimiliano Pisani - 45-69 Testing the Effectiveness of Market-Based Controls: Evidence From the Experience of Japan With Short-Term Capital Flows in the 1970s
by Taro Esaka & Shinji Takagi - 71-93 Taylor's Rule Versus Taylor Rules
by Alex Nikolsko-Rzhevskyy & David H. Papell - 95-119 Testing the Strategic Asset Allocation of Stabilization Sovereign Wealth Funds
by Fabio Bertoni & Stefano Lugo - 121-127 Barofsky and Bair on Banks and Bailouts
by Ernest Patrikis
December 2012, Volume 15, Issue 3
- 277-288 Liabilities of Globalization: Sovereign Debt, International Investors and Interstate Conflict with Other People's Money
by Scott Helfstein - 289-307 The Consequences of Banking Crises for Public Debt
by Davide Furceri & Aleksandra Zdzienicka - 309-325 The Architecture and Governance of Financial Supervision: Sources and Implications
by N. Nergiz Dincer & Barry Eichengreen - 327-345 Inflation and Inflation Volatility Revisited
by Dong-Hyeon Kim & Shu-Chin Lin - 347-366 Institutions and Business Cycles
by Sumru Altug & Bilin Neyapti & Mustafa Emin - 367-371 Noam Scheiber's Escape Artists: A Review Essay
by Phillip Swagel
June 2012, Volume 15, Issue 2
- 155-178 The Dollar Shortage in Global Banking and the International Policy Response
by Patrick McGuire & Goetz von Peter - 179-203 Communicating About Macro-prudential Supervision – A New Challenge for Central Banks
by Benjamin Born & Michael Ehrmann & Marcel Fratzscher - 205-224 Macroeconomic Stability, Financial Stability, and Monetary Policy Rules
by Pierre-Richard Agénor & Luiz A. Pereira da Silva - 225-250 Monetary Policy Announcements and Short-Term Interest Rate Futures Volatility: Evidence from the M exican Market
by Renata Herrerías & Pedro Gurrola - 251-266 Has Globalization Improved International Risk Sharing?
by Nikolaos Antonakakis & Johann Scharler - 267-274 Ron Suskind's Confidence Men: A Review Essay
by Kevin Hassett
April 2012, Volume 15, Issue 1
- 1-35 Episodes of Large Capital Inflows, Banking and Currency Crises, and Sudden Stops
by Davide Furceri & Stéphanie Guichard & Elena Rusticelli - 37-68 Global Financial Safety Nets: Where Do We Go from Here?
by Eduardo Fernández-Arias & Eduardo Levy-Yeyati - 69-97 Spillovers of Domestic Shocks: Will They Counteract the ‘Great Moderation’?
by Alina Carare & Ashoka Mody - 99-123 Instrument versus Target Rules As Specifications of Optimal Monetary Policy
by Richard T. Froyen & Alfred V. Guender - 125-135 Unfinished Business in Financial Reform
by Paul Volcker - 137-151 Institutional Governance and Monetary Arrangements
by Ellen E. Meade
December 2011, Volume 14, Issue 3
- 373-413 Financing US Debt: Is There Enough Money in the World – and at What Cost?
by John Kitchen & Menzie Chinn - 415-444 Should Larger Reserve Holdings Be More Diversified?
by Roland Beck & Sebastian Weber - 445-479 Should Central Banks Target Consumer or Producer Prices?
by Stephen McKnight - 481-505 The Home Bias, Capital Income Flows and Improved Long-Term Consumption Risk Sharing between Industrialized Countries
by Michael J. Artis & Mathias Hoffmann - 507-539 Do Changes in Product Variety Matter for Business Cycles and Monetary Policy in Open Economies?
by Stéphane Auray & Aurélien Eyquem - 541-566 The Soft Tyranny of Inflation Expectations
by Adam Posen - 567-571 Barry Eichengreen's Exorbitant Privilege: A Review Essay
by Paul De Grauwe
June 2011, Volume 14, Issue 2
- 211-229 Determinacy in New Keynesian Models: A Role for Money after All?
by Patrick Minford & Naveen Srinivasan - 231-264 The Government Spending Multiplier and Fiscal Financing: Insights from Japan
by Yasuharu Iwata - 265-300 How Are Inflation Targets Set?
by Roman Horváth & Jakub Matějů - 301-330 Cross-Border Investment in Small International Financial Centres
by Philip R. Lane & Gian Maria Milesi-Ferretti - 331-359 Investment Dynamics in the Aftermath of the Asian Financial Crisis: A Firm-Level Analysis
by Brahima Coulibaly & Jonathan Millar - 361-371 Four Crisis Books: A Review Essay
by James K. Galbraith
April 2011, Volume 14, Issue 1
- 1-26 The End of Chimerica
by Niall Ferguson & Moritz Schularick - 27-66 Rebalancing Growth in Asia
by Eswar S. Prasad - 67-102 Why Do Foreign Banks Withdraw from Other Countries?
by Aneta Hryckiewicz & Oskar Kowalewski - 103-133 Business Cycles and the Role of Imperfect Competition in the Banking System
by Federico S. Mandelman - 135-164 Under‐/Over‐Valuation of the Stock Market and Cyclically Adjusted Earnings
by Marco Taboga - 165-182 Activism
by Alan Greenspan - 183-207 Meltzer's History of the Federal Reserve: A Review Essay
by Thomas F. Cargill
December 2010, Volume 13, Issue 3
- 343-375 Some Simple Tests of the Globalization and Inflation Hypothesis
by Jane Ihrig & Steven B. Kamin & Deborah Lindner & Jaime Marquez - 377-407 Asset Price Misalignments and the Role of Money and Credit
by Dieter Gerdesmeier & Hans‐Eggert Reimers & Barbara Roffia - 409-441 Should Monetary Policy Respond to Money Growth? New Results for the Euro Area
by Michael Scharnagl & Christina Gerberding & Franz Seitz - 443-459 Financial Market Liquidity and the Financial Crisis: An Assessment Using UK Data
by Christopher Martin & Costas Milas - 461-483 Identifying the Effect of the Bank of Japan's Liquidity Facilities: The Case of Commercial Paper Operations During the Financial Turmoil
by Yasuo Hirose & Shinsuke Ohyama - 485-493 Revisiting the Philosophy behind Central Bank Policy
by Masaaki Shirakawa - 495-506 China in Africa: The Washington Consensus versus the Beijing Consensus
by Ronald I. McKinnon
August 2010, Volume 13, Issue 2
- 165-194 Currency Crashes in Industrial Countries: What Determines Good and Bad Outcomes?
by Joseph E. Gagnon - 195-221 Interdependencies between Monetary Policy and Foreign Exchange Interventions under Inflation Targeting: The Case of Brazil and the Czech Republic
by Jean‐Yves Gnabo & Luiz De Mello & Diego Moccero - 223-256 Testing for Balance Sheet Effects in Emerging Markets: A Non‐Crisis Setting
by Uluc Aysun - 257-282 Financial Dollarization and European Union Membership
by Kyriakos C. Neanidis - 283-309 Monetary Integration in East Asia: A Hierarchical Clustering Approach
by Chee‐Heong Quah & Patrick M. Crowley - 311-320 COMMENTARY: International Lessons for Regulatory Reform
by Richard W. Fisher - 321-340 REVIEW: Central Banking after the Crisis
by Rosa M. Lastra
March 2010, Volume 13, Issue 1
- 1-23 Reforming the Global Reserve Regime: The Role of a Substitution Account
by Peter B. Kenen - 25-53 Practical Monetary Policies
by Alfred V. Guender & David R. Gillmore - 55-78 The Transmission of US Monetary Policy to the Euro Area
by Stefano Neri & Andrea Nobili - 79-108 Cross‐Border Diversification in Bank Asset Portfolios
by Claudia M. Buch & John C. Driscoll & Charlotte Ostergaard - 109-139 Regulatory Reform: Integrating Paradigms
by Augusto De La Torre & Alain Ize - 141-156 Monetary Policy and Financial Stability: An Emerging Markets Perspective
by José De Gregorio - 157-163 The Return of Keynes
by Paul De Grauwe
December 2009, Volume 12, Issue 3
- 301-320 Globalization, Domestic Inflation and Global Output Gaps: Evidence from the Euro Area
by Alessandro Calza - 321-349 Home Bias in Leveraged Buyouts
by Peter Cornelius & Karlijn Juttmann & Broes Langelaar - 351-386 Sovereign Wealth Funds: Stylized Facts about their Determinants and Governance
by Joshua Aizenman & Reuven Glick - 387-410 Exchange Rate Policy: The Euro Area, the United States and Asia
by Leonor Coutinho - 411-430 Soft Budget Constraints in EU Transition Economy Enterprises
by Tomoe Moore - 431-444 Some Lessons from the Financial Market Crisis
by Otmar Issing - 445-462 Regulating Financial Systems in an Intellectual Vacuum
by Matthew Saal
August 2009, Volume 12, Issue 2
- 121-121 Forword
by Benn Steil - 123-150 Capital Asset Pricing Model and the Risk Appetite Index: Theoretical Differences, Empirical Similarities and Implementation Problems
by Marcello Pericoli & Massimo Sbracia - 151-170 Gradualism, Transparency and the Improved Operational Framework: A Look at Overnight Volatility Transmission
by Silvio Colarossi & Andrea Zaghini - 171-194 Making Monetary Policy by Committee
by Alan S. Blinder - 195-233 Inflation Targeting: What Have We Learned?
by Carl E. Walsh - 235-268 Trends in Monetary Policy Transparency
by Petra M. Geraats - 269-289 The Poisoned Pool
by Manuel Hinds - 291-299 The Elusive Quest for Energy Independence
by Prakash Loungani
May 2009, Volume 12, Issue 1
- 1-31 Does It Pay to Have the Euro? Italy's Troubled Politics and Financial Markets under the Lira and the Euro
by Marcel Fratzscher & Livio Stracca - 33-55 Does Global Liquidity Matter for Monetary Policy in the Euro Area?
by Helge Berger & Thomas Harjes - 57-73 Why Fiscal Stimulus is Likely to Work
by Antonio Fatás & Ilian Mihov - 75-91 Why Fiscal Stimulus is Unlikely to Work
by Kevin A. Hassett - 93-106 Conflicts of Interest and the Financial Crisis
by Lorenzo Bini Smaghi - 107-119 The New Theory of Foreign Direct Investment: Merging Trade and Capital Flows
by Katheryn N. Russ
December 2008, Volume 11, Issue 3
- 211-245 Global Roles of Currencies
by Christian Thimann - 247-268 The Retreat of Deposit Dollarization
by Patrick Honohan - 269-282 Why the United Kingdom Should Join the Eurozone
by Willem H. Buiter - 283-295 Why the United Kingdom Should Not Join the Eurozone
by Patrick Minford - 297-310 The Euro: Does a Currency Need a State?
by Otmar Issing - 311-325 The Crisis in Perspective: The Cost of Being Quiet
by Tommaso Padoa‐Schioppa - 327-333 On the Need to Renovate the Eurozone
by Paul De Grauwe
August 2008, Volume 11, Issue 2
- 117-130 European Stock Markets and the ECB's Monetary Policy Surprises
by Martin T. Bohl & Pierre L. Siklos & David Sondermann - 131-152 Capital Inflows, Resource Reallocation and the Real Exchange Rate
by Emmanuel K. K. Lartey - 153-165 Why a Dual Mandate is Right for Monetary Policy
by Benjamin M. Friedman - 167-183 Why a Dual Mandate is Wrong for Monetary Policy
by Anna J. Schwartz & Walker F. Todd - 185-192 Dealing with the Financial Turmoil: Contingent Risks, Policy Challenges and the Role of the IMF
by John Lipsky - 193-209 The Value of Financial Stability
by Jean‐Marc Gollier
May 2008, Volume 11, Issue 1
- 1-18 Inflation Targeting in a Small Open Economy
by Nicolas A. Cuche‐Curti & Harris Dellas & Jean‐Marc Natal - 19-48 A Structural Investigation of Third‐Currency Shocks to Bilateral Exchange Rates
by Martin Melecky - 49-73 Why the Euro Will Rival the Dollar
by Menzie Chinn & Jeffrey Frankel - 75-100 Why the Euro will Not Rival the Dollar
by Adam S. Posen - 101-107 Rethinking the Bright New World of Global Finance
by Paul A. Volcker - 109-115 The Risks of Being Chairman in the Age of Turbulence
by Paul De Grauwe
December 2007, Volume 10, Issue 3
- 215-239 ‘Chimerica’ and the Global Asset Market Boom
by Niall Ferguson & Moritz Schularick - 241-280 Excess Money Growth and Inflation Dynamics
by Barbara Roffia & Andrea Zaghini - 281-300 Increased Diversity and Deepened Uncertainty: Policy Challenges in a Zero‐Inflation Economy
by Kiyohiko G. Nishimura - 301-316 Trying to Make Sense of the Bank of Japan's Monetary Policy since the Exit from Quantitative Easing
by Kazuo Ueda - 317-334 Inflation Dynamics
by Frederic S. Mishkin - 335-343 A Review of Global Financial Warriors by John B. Taylor
by Peter M. Garber
July 2007, Volume 10, Issue 2
- 115-130 Japan's Deflation: A Time‐Inconsistent Policy in Need of an Inflation Target
by Thomas F. Cargill & Federico Guerrero - 131-152 Total Factor Productivity and Monetary Policy: Evidence from Conditional Volatility
by Nicholas Apergis & Stephen M. Miller - 153-175 A Blueprint for IMF Reform: More than just a Lender
by Barry Eichengreen - 177-182 A Blueprint for IMF Reform: What is Worth Retaining?
by Allan H. Meltzer - 183-189 Liquidity Risk and the Global Economy
by Timothy F. Geithner - 191-214 Debt Relief by Private and Official Creditors: The Record Speaks
by Arturo C. Porzecanski
March 2007, Volume 10, Issue 1
- 1-20 Monetary Policy and Asset Prices: More Bad News for ‘Benign Neglect’
by Wolfram Berger & Friedrich Kißmer & Helmut Wagner - 21-41 A Speed Limit Monetary Policy Rule for the Euro Area
by Livio Stracca - 43-70 Why China Should Keep Its Dollar Peg
by Ronald McKinnon - 71-89 Why China Should Abandon Its Dollar Peg
by Nouriel Roubini - 91-99 An Action Plan for US Capital Markets
by R. Glenn Hubbard - 101-114 Sound Policies for Emerging Markets' Financial Stability
by Galina Hale
December 2006, Volume 9, Issue 3
- 295-315 Monetary Integration Initiatives in Eastern and Southern Africa (ESA): Sorting the Overlapping Membership
by Steven Buigut - 317-342 Exchange Rate Regimes and Reforms: A Panel Analysis for the World versus OECD Countries
by Ansgar Belke & Bernhard Herz & Lukas Vogel - 343-367 Monetary Policy and the Taylor Principle in Open Economies
by Ludger Linnemann & Andreas Schabert - 369-380 Fixing US Fiscal Policy
by Douglas Holtz‐Eakin - 381-392 The New Global Regulatory Agenda in Financial Services: A Framework for the Twenty‐First Century
by Charlie McCreevy - 393-412 The Role of Expectations in Monetary Policy
by Maria Demertzis
August 2006, Volume 9, Issue 2
- 145-168 Central Banking by Committee
by Anne Sibert - 169-195 A Fiscal Price Tag for International Reserves
by David Hauner - 197-221 Investor Protection and International Investment Positions: An Empirical Analysis
by Teresa L. Cyrus & Talan B. İşcan & Sheena Starky - 223-240 Why the US Current Account Deficit is Sustainable
by Ricardo Hausmann & Federico Sturzenegger - 241-260 Why the US Current Account Deficit is Not Sustainable
by Daniel Gros - 261-279 Powerless Europe: Why is the Euro Area Still a Political Dwarf?
by Lorenzo Bini Smaghi - 281-294 Lessons from the First Financial Crises of the 21st Century
by Menzie D. Chinn
May 2006, Volume 9, Issue 1
- 1-36 A (New) Country Insurance Facility
by Tito Cordella & Eduardo Levy Yeyati - 37-61 An Assessment of the Disorderly Adjustment Hypothesis for Industrial Economies
by Hilary Croke & Steven B. Kamin & Sylvain Leduc - 63-86 What Can Account for Fluctuations in the Terms of Trade?
by Marianne Baxter & Michael A. Kouparitsas - 87-107 Why Central Banks Should Burst Bubbles
by Nouriel Roubini - 109-124 Why Central Banks Should Not Burst Bubbles
by Adam S. Posen - 125-136 Reflections on Monetary Policy: Flexibility, Transparency and Inflation Guidelines
by Michael H. Moskow - 137-144 Flaws in the Design of the Eurosystem?
by Paul De Grauwe
December 2005, Volume 8, Issue 3
- 361-361 Editor's Foreword
by Fabio Ghironi - 363-397 Expansionary Fiscal Shocks and the US Trade Deficit
by Christopher J. Erceg & Luca Guerrieri & Christopher Gust - 399-434 The US Dollar and the Trade Deficit: What Accounts for the Late 1990s?
by Benjamin Hunt & Alessandro Rebucci - 435-470 Does Government Spending Crowd in Private Consumption? Theory and Empirical Evidence for the Euro Area
by Günter Coenen & Roland Straub - 471-508 Monetary Policy in a Liquidity Trap: What Have We Learned, and to What End?
by Ippei Fujiwara & Naoko Hara & Naohisa Hirakata & Shinichiro Watanabe & Kentaro Yoshimura - 509-544 Are Constant Interest Rate Forecasts Modest Policy Interventions? Evidence from a Dynamic Open‐Economy Model
by Malin Adolfson & Stefan Laséen & Jesper Lindé & Mattias Villani - 545-575 Credibility and Inflation Targeting in an Emerging Market: Lessons from the Chilean Experience
by Luis F. Céspedes & Claudio Soto
August 2005, Volume 8, Issue 2
- 167-198 Political and Corporate Governance and Pro‐Cyclicality in Capital Flows: Evidence from Emerging Market Countries
by Alberto Chong & Alejandro Izquierdo & Alejandro Micco & Ugo Panizza - 199-229 Popular Attitudes, Globalization and Risk
by Marcus Noland - 231-262 Sacrifice Ratios with Long‐Lived Effects
by Lawrence Huiyan Zhang - 263-301 Does the Yield Spread Predict Recessions in the Euro Area?
by Fabio Moneta - 303-327 Macroeconomic Fundamentals and Net Portfolio Investment Between Developed Regions
by Nicole B. Simpson & Marc Tomljanovich & George S. Georgiev - 329-350 The Bank of Japan's Struggle with the Zero Lower Bound on Nominal Interest Rates: Exercises in Expectations Management
by Kazuo Ueda - 351-360 Robert Rubin: An Insider's Guide to the Man and His Message
by Eduardo Aninat
March 2005, Volume 8, Issue 1
- 1-27 Financial Supervision in an Integrating Europe: Measuring Cross‐Border Externalities
by Dirk Schoenmaker & Sander Oosterloo - 29-55 Will Basel II Lead to a Specialization of Unsophisticated Banks on High‐Risk Borrowers?
by Bertrand Rime - 57-86 Passive Creditors
by Koen Schoors & Konstantin Sonin - 87-117 Designing Macroeconomic Frameworks: A Positive Analysis of Monetary and Fiscal Delegation
by Francesca Castellani & Xavier Debrun - 119-137 Exchange Rate Fluctuations, Trade and Asymmetric Shocks in the Economic and Monetary Union
by Kh. Sekkat & J. Malek Mansour - 139-149 Playing Monopoly with the Devil
by Manuel Hinds - 151-166 On the Choice and Consequences of Exchange Rate Regimes
by Luis Felipe Céspedes
December 2004, Volume 7, Issue 3
- 349-390 Coping with Risks through Mismatches: Domestic and International Financial Contracts for Emerging Economies
by Augusto De La Torre & Sergio L. Schmukler - 391-420 International Financial Rescues and Debtor‐Country Moral Hazard
by Prasanna Gai & Ashley Taylor - 421-450 Keeping Capital Flowing: The Role of the IMF
by Michael D. Bordo & Ashoka Mody & Nienke Oomes - 451-469 Incomes, Exchange Rates and the US Trade Deficit, Once Again
by Menzie D. Chinn - 471-493 The Cost of Political Intervention in Monetary Policy
by David Cobham & Athanasios Papadopoulos & George Zis - 495-504 Competition Policy in a Global Economy
by Mario Monti - 505-540 Is Trade Policy Macroeconomics, Microeconomics or Pure Politics?
by Matthew Saal
July 2004, Volume 7, Issue 2
- 169-201 The Return to Soft Dollar Pegging in East Asia: Mitigating Conflicted Virtue
by Ronald McKinnon & Gunther Schnabl - 203-234 The Determinants of Bank Credit in Industrialized Countries: Do Property Prices Matter?
by Boris Hofmann - 235-260 Why has the Stability and Growth Pact Failed?
by Jakob De Haan & Helge Berger & David‐Jan Jansen - 261-286 On the Relationship Between Short‐ and Long‐term Interest Rates
by Teruyoshi Kobayashi - 287-309 Is Dollarization a Worthwhile Option for Developing Countries?
by Manuel Hinds - 311-323 East Asian Monetary Arrangements: A European Perspective
by Tommaso Padoa‐Schioppa