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Regional evolutions

[PDF] from brookings-tsinghua.cn
Full text - MIT Libraries
OJ Blanchard, LF Katz, RE Hall… - Brookings papers on …, 1992 - JSTOR
IN 1987, the unemployment rate in Massachusetts averaged 3.2 percent, three percentage
points below the national rate. Only four years later, in 1991, it stood at 9.0 percent, more
than two points above the national rate. For firms taking investment decisions and for ...
Cited by 1737 - Related articles - Library Search - All 15 versions

Contagious currency crises

[PDF] from unimib.it
B Eichengreen, AK Rose… - 1996 - nber.org
This paper is concerned with the fact that the incidence of speculative attacks tends to be
temporally correlated; that is, currency crises appear to pass contagiously from one country
to another. The paper provides a survey of the theoretical literature, and analyzes the ...
Cited by 1337 - Related articles - Library Search - BL Direct - All 19 versions

Shocking aspects of European monetary unification

[PDF] from escholarship.org
T Bayoumi… - 1992 - nber.org
Data on output and prices for 11 EC member nations are analyzed to extract information on
underlying aggregate supply and demand disturbances using a VAR decomposition. The
coherence of the underlying shocks across countries and the speed of adjustment to these ...
Cited by 1227 - Related articles - Library Search - BL Direct - All 17 versions

[BOOK] Toward a new international financial architecture: a practical post-Asia agenda

BJ Eichengreen - 1999 - books.google.com
... Page 4. Page 5. fr BARRY EICHENGREEN TOWARD A NEW INTERNATIONAL
FINANCIAL ARCHITECTURE A Practical Post-Asia Agenda INSTITUTE FOR
INTERNATIONAL ECONOMICS Washington, DC February 1999 Page 6. ...
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Exchange rates and financial fragility

[PDF] from middlebury.edu
B Eichengreen… - 1999 - nber.org
In this paper we analyze three views of the relationship between the exchange rate and
financial fragility:(1) the moral hazard hypothesis, according to which pegged exchange
rates offer implicit insurance against exchange risk and thereby encourage reckless ...
Cited by 1061 - Related articles - Library Search - BL Direct - All 41 versions

[BOOK] Globalizing capital: a history of the international monetary system

[PDF] from princeton.edu
BJ Eichengreen - 1998 - books.google.com
... Page 2. This page intentionally left blank Page 3. BARRY EICHENGREEN GLOBALIZING
CAPITAL A HISTORY OF THE INTERNATIONAL MONETARY SYSTEM Second Edition
PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD —-— —- Page 4. ...
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Exchange market mayhem: the antecedents and aftermath of speculative attacks

[PDF] from ucsc.edu
B Eichengreen, AK Rose, C Wyplosz, B Dumas… - Economic policy, 1995 - JSTOR
This paper evaluates the causes and consequences of episodes of turbulence in foreign
exchange markets. Using data from 1959 through 1993 for twenty OECD countries, we
consider the antecedents and aftermath of devaluations and revaluations, flotations, ...
Cited by 986 - Related articles - Get it from MIT Libraries - Library Search - BL Direct - All 9 versions

Is the crisis problem growing more severe?

[PDF] from sfu.ca
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M Bordo, B Eichengreen, D Klingebiel… - Economic …, 2001 - Wiley Online Library
The crisis problem is one of the dominant macroeconomic features of our age. Its
prominence suggests questions like the following: Are crises growing more frequent? Are
they becoming more disruptive? Are economies taking longer to recover? These are ...
Cited by 673 - Related articles - BL Direct - All 14 versions

The unstable EMS

[PDF] from insead.edu
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B Eichengreen, C Wyplosz, WH Branson… - Brookings Papers on …, 1993 - JSTOR
FROM THE STANDPOINT OF EUROPEAN MONETARY AFFAIRS, 1992 opened with a
bang and closed with a whimper. In January, the European monetary system (EMS)
celebrated five years of exchange rate stability: sixty full months without a realignment. ...
Cited by 556 - Related articles - Library Search - BL Direct - All 11 versions

[BOOK] International monetary arrangements for the 21st century

BJ Eichengreen - 1994 - books.google.com
Page 1. international Monetary Arrangements FOR THE Barry Eichengreen Page 2. Page
3. Page 4. ... Barry Eichengreen argues that it will not be possible for governments to prevent
exchange rate movements from exceeding prespecified limits. ...
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The Stability Pact: more than a minor nuisance?

[PDF] from berkeley.edu
B Eichengreen, C Wyplosz, C Bean… - Economic Policy, 1998 - JSTOR
The Stability and Growth Pact will lead member countries to aim for cyclically balanced
budgets. Until this steady state is reached, Europe will continue its efforts at deficit cutting.
While so doing, politicians are less likely to undertake the difficult labour market reforms ...
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[PDF] One money or many?: Analyzing the prospects for monetary unification in various parts of the world

[PDF] from princeton.edu
TA Bayoumi, BJ Eichengreen… - 1994 - princeton.edu
... UNIFICATION IN VARIOUS PARTS OF THE WORLD TAMIM BAYOUMI AND BARRY
EICHENGREEN INTERNATIONAL FINANCE SECTION ... Please see the Notice to Con- tributors
at the back of this Study. The authors of this Study are Tamim Bayoumi and Barry Eichengreen. ...
Cited by 493 - Related articles - Get it from MIT Libraries - Library Search - All 10 versions

What explains changing spreads on emerging-market debt: fundamentals or market sentiment?

[PDF] from worldbank.org
B Eichengreen… - 1998 - nber.org
In this paper we analyze data on nearly 1,000 developing-country bonds issued in the years
1991-96 the recent episode of heavy reliance on bonded debt. We analyze both the issue
decision of debtors and the pricing decision of investors, minimizing selectivity bias by ...
Cited by 491 - Related articles - Library Search - All 18 versions

Capital Account Liberalization: What Do Cross‐Country Studies Tell Us?

[PDF] from geocities.co.jp
Full text - MIT Libraries
B Eichengreen - The World Bank Economic Review, 2001 - World Bank
Abstract Capital account liberalization, it is fair to say, remains one of the most controversial
and least understood policies of our day. One reason is that different theoretical
perspectives have very different implications for the desirability of liberalizing capital flows. ...
Cited by 487 - Related articles - BL Direct - All 8 versions

Two cases for sand in the wheels of international finance

[PDF] from 132.248.9.1
Full text - MIT Libraries
B Eichengreen, J Tobin… - The Economic Journal, 1995 - JSTOR
The incompatibility of pegged exchange rates, international capital mobility and national
monetary autonomy is a basic postulate of open economy macroeconomics. Prior to the
breakdown of the Bretton Woods System, economic analyses commonly held that nations ...
Cited by 474 - Related articles - Library Search - BL Direct - All 19 versions

[PDF] The role of history in bilateral trade flows

[PDF] from nber.org
B Eichengreen… - 1998 - nber.org
The rise of regionalism continues to pose challenges for specialists in international trade.
One classic question is the aggregate welfare effects of regional trade liberalization. Another
is the political economy of regionalism: how liberalization on a regional basis affects the ...
Cited by 466 - Related articles - View as HTML - BL Direct - All 8 versions

Is Globalization Today Really Different than Globalization a Hunderd Years Ago?

[DOC] from sasse.se
MD Bordo, B Eichengreen… - 1999 - nber.org
This paper pursues the comparison of economic integration today and pre 1914 for trade as
well as finance, primarily for the United States but also with reference to the wider world. We
establish the outlines of international integration a century ago and analyze the ...
Cited by 416 - Related articles - Library Search - BL Direct - All 13 versions

Is Europe an optimum currency area?

[PDF] from escholarship.org
B Eichengreen - 1991 - nber.org
An optimum currency area is an economic unit composed of regions affected symmetrically
by disturbances and between which labor and other factors of production flow freely. The
symmetrical nature of disturbances and the high degree of factor mobility make it optimal ...
Cited by 415 - Related articles - Library Search - All 14 versions

[BOOK] International monetary cooperation since Bretton Woods

BJ Eichengreen… - 1996 - books.google.com
... 1790 to 1860 Page 5. Golden Fetters THE GOLD STANDARD AND THE GREAT
DEPRESSlON, 1919-1939 Barry Eichengreen New York Oxford OXFORD UNlVERSlTY
PRESS 1995 Page 6. ... 1919-1939 / Barry Eichengreen. p. cm. ...
Cited by 359 - Related articles - Get it from MIT Libraries - Library Search - All 6 versions

One money for Europe? Lessons from the US currency union

[PDF] from escholarship.org
B Eichengreen, M Obstfeld… - Economic Policy, 1990 - JSTOR
The creation of a monetary union in Europe is often justified by the desire to reap the full
benefits of economic integration. The complete removal of capital controls raises a large
number of issues. The case for free capital mobility is strong, but not overwhelming. It ...
Cited by 373 - Related articles - Get it from MIT Libraries - Library Search - All 8 versions

The political economy of fiscal adjustments

[PDF] from josetavares.eu
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A Alesina, R Perotti, J Tavares, M Obstfeld… - Brookings Papers on …, 1998 - JSTOR
FISCAL DISCIPLINE is currently the main macroeconomic problem faced by industrial and
developing countries. Following the fiscal profligacy of the 1970s and early 1980s, deficit
reduction has dominated the political economy debate during the past few years. The ...
Cited by 373 - Related articles - BL Direct - All 15 versions

[BOOK] Should the Maastricht Treaty be saved?

[PDF] from princeton.edu
BJ Eichengreen - 1992 - princeton.edu
... No. 74, December 1992 SHOULD THE MAASTRICHT TREATY BE SAVED? BARRY
EICHENGREEN INTERNATIONAL FINANCE SECTION DEPARTMENT OF ECONOMICS
PRINCETON UNIVERSITY PRINCETON, NEW JERSEY Page 2. ...
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Ever closer to heaven? An optimum-currency-area index for European countries

Full text - MIT Libraries
T Bayoumi… - European Economic Review, 1997 - Elsevier
We develop a procedure for applying the core implications of the theory of optimum currency
areas, and find that the relationship between OCA characteristics and the observed behavior
of exchange rates seems sufficiently to support simple forecasting. Accordingly, we ...
Cited by 362 - Related articles - All 6 versions

Exchange rates and economic recovery in the 1930s

B Eichengreen… - 1986 - nber.org
Currency depreciation in the 1930s is almost universally dismissed or condemned. It is
credited with providing little if any stimulus for economic recovery in the depreciating
countries and blamed for transmitting harmful beggar-thy-neighbor impulses to the rest of ...
Cited by 341 - Related articles - All 17 versions

Speculative attacks on pegged exchange rates: an empirical exploration with special reference to the European Monetary System

[PDF] from pdx.edu
B Eichengreen, AK Rose… - 1994 - nber.org
This paper presents an empirical analysis of speculative attacks on pegged exchange rates
in 22 countries between 1967 and 1992. We define speculative attacks or crises as large
movements in exchange rates, interest rates, and international reserves. We develop ...
Cited by 336 - Related articles - Library Search - BL Direct - All 16 versions

European monetary unification

[HTML] from cepr.org
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B Eichengreen - Journal of Economic Literature, 1993 - JSTOR
(EMU) is a process for which there exists no historical precedent.'There are cases where
separate political entities formed a political union before adopting a common currency and a
single central bank; Italy following unification in 1861 is an example. 2 There are cases ...
Cited by 327 - Related articles - BL Direct - All 10 versions

Staying afloat when the wind shifts: External factors and emerging-market banking crises

[PDF] from berkeley.edu
B Eichengreen… - 1998 - nber.org
We analyze banking crises using a panel of macroeconomic and financial data for more
than one hundred developing countries from 1975 through 1992. We find that banking crises
in emerging markets are strongly associated with adverse external conditions. In particular ...
Cited by 318 - Related articles - Library Search - BL Direct - All 18 versions

Regional, global, and historical perspectives on Asian monetary relations

[PDF] from escholarship.org
B Eichengreen… - Exchange rate policies in emerging …, 1999 - books.google.com
The conference “Exchange rate policies in emerging Asian countries”, on which this book is
based, is one sign of increased interest in collective or cooperative exchange rate
arrangements for East Asian countries. A more concrete indication is the announcement in ...
Cited by 312 - Related articles - Library Search - All 11 versions

Crises now and then: What lessons from the last era of financial globalization

[PDF] from psu.edu
B Eichengreen… - 2002 - nber.org
We consider the operation of international capital markets in two periods of globalization,
before 1914 and after 1971, with a focus on the crisis problem. We explore the idea that the
incidence of crises in these two periods reflects how capital flows were embedded in the ...
Cited by 301 - Related articles - Library Search - BL Direct - All 19 versions

Currency mismatches, debt intolerance and original sin: why they are not the same and why it matters

[PDF] from geocities.co.jp
B Eichengreen, R Hausmann… - 2003 - nber.org
Recent years have seen the development of a large literature on balance sheet factors in
emerging-market financial crises. In this paper we discuss three concepts widely used in this
literature. Two of them original sin'and debt intolerance'seek to explain the same ...
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[PDF] Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA

[PDF] from nber.org
T Bayoumi… - 1997 - nber.org
The difficulties of reforming international institutions and practices at the global level provide
increasingly powerful impetus for regional economic arrangements. Readers hardly need to
be reminded of the prominence of ASEAN and APEC in Asia and the Pacific or of NAFTA ...
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Global imbalances and the lessons of Bretton Woods

[PDF] from unimib.it
B Eichengreen - 2004 - nber.org
An influential school of thought views the current international monetary and financial
system as Bretton Woods reborn. Today, like 40 years ago, the international system is
composed of a core, which has the exorbitant privilege of issuing the currency used as ...
Cited by 280 - Related articles - Library Search - BL Direct - All 47 versions

Trade blocs, currency blocs and the reorientation of world trade in the 1930s

[PDF] from dartmouth.edu
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B Eichengreen… - Journal of International economics, 1995 - Elsevier
We analyze the impact of commercial and financial policies on the reorientation of trade in
the 1930s. We report evidence that commercial policies attenuated prior connections
between income growth and trade, and that exchange rate instability marginally ...
Cited by 261 - Related articles - All 10 versions

[BOOK] Capital account liberalization: theoretical and practical aspects

BJ Eichengreen, M Mussa… - 1998 - books.google.com
Capital Account Liberalization Theoretical and Practical Aspects By a Staff Team led by Barry
Eichengreen and Michael Mussa with Giovanni Dell'Ariccia, Enrica Detragiache, Gian Maria
Milesi-Ferretti, and Andrew Tweedie INTERNATIONAL MONETARY FUND Washington ...
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When does capital account liberalization help more than it hurts?

[PDF] from up.pt
C Arteta, B Eichengreen… - 2001 - nber.org
In this paper we reconsider the evidence on capital account liberalization and growth. While
we find indications of a positive association, the effects vary with time, with how capital
account liberalization is measured, and with how the relationship is estimated. The ...
Cited by 252 - Related articles - Library Search - BL Direct - All 19 versions

Banking crises in emerging markets: presumptions and evidence

[PDF] from escholarship.org
B Eichengreen… - Financial policies in emerging …, 2002 - books.google.com
Each time there is a sudden decline in stock prices and the newspapers publish those
photos of pensive investors gazing at the ticker in the window of a retail brokerage house,
economists receive phone calls from journalists asking," Could'it'happen again?" Could ...
Cited by 229 - Related articles - Library Search - All 15 versions

[BOOK] Exit strategies: Policy options for countries seeking greater exchange rate flexibility

BJ Eichengreen, PR Masson… - 1998 - books.google.com
Exit Strategies Policy Options for Countries Seeking Greater Exchange Rate Flexibility By a Staff
Team led by Barry Eichengreen and Paul Masson with Hugh Bredenkamp, Barry Johnston, Javier
Hamann, Esteban Jadresic, and Inci Otker INTERNATIONAL MONETARY FUND ...
Cited by 216 - Related articles - Get it from MIT Libraries - Library Search - BL Direct - All 2 versions

Federalism, fiscal restraints, and European monetary union

Full text - MIT Libraries
J Von Hagen… - The American Economic Review, 1996 - JSTOR
A prominent feature of the Maastricht Treaty on European Union is the restrictions it places
on fiscal policy. Under the provisions of the Excessive Deficit Procedure, or EDP, the
success of member states in avoiding" excessive deficits" during the transition to ...
Cited by 226 - Related articles - BL Direct - All 7 versions

Labor markets and European monetary unification

B Eichengreen - Policy issues in the operation of currency …, 1993 - books.google.com
Monetary unification promises to revolutionize the conduct of macroeconomic policy in
Europe. Countries previously free to pursue independent monetary policies will be forced to
toe a common line. New constraints will be placed on the conduct of fiscal policy, whether ...
Cited by 224 - Related articles

Restraining yourself: the implications of fiscal rules for economic stabilization

T Bayoumi… - Staff Papers-International Monetary Fund, 1995 - JSTOR
State budgets played a significant macroeconomic role in the United States during the
1970s and 1980s. Their cyclical responsiveness was affected by the severity of statutory and
constitutional fiscal restraints. Moving from no fiscal restraints to stringent restraints ...
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[BOOK] Capital flows and crises

[PDF] from 141.105.33.55
BJ Eichengreen - 2004 - books.google.com
Page 1. Barry EICHENGREEN Page 2. Page 3. Capital Flows and Crises This One
E2XA-3Z1-9JYJ Page 4. Page 5. Capital Flows and Crises Barry Eichengreen The
MIT Press Cambridge, Massachusetts London, England Page 6. ...
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European monetary unification: a tour d'horizon

[PDF] from exeter.ac.uk
Full text - MIT Libraries
B Eichengreen - Oxford Review of Economic Policy, 1998 - Oxford Univ Press
Abstract This article takes stock of the literature and debate over European monetary
unification. In contrast to other papers, where it is argued that the issues and prospects
remain shrouded in uncertainty, I argue that in a number of important areas, a reasonable ...
Cited by 221 - Related articles - Library Search - BL Direct - All 18 versions

[BOOK] Financial Crises: and what to do about them

[HTML] from eh.net
BJ Eichengreen - 2002 - eh.net
... Posted Sun, 2003-09-07 20:00 by backend. Author: Eichengreen, Barry. Reviewer: Schwartz, Anna
J. Published by EH.NET (September 2003). Barry Eichengreen, Financial Crises and What to Do
about Them. New York: Oxford University Press, 2002. ix + 194 pp. ...
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Institutions and economic growth: Europe after World War II

B Eichengreen - Economic growth in Europe since, 1945 - books.google.com
The quarter century that ended around 1973 was for Western Europe a Golden Age of
economic growth. Real GDP rose nearly twice as rapidly as over any comparable period
before or since. 1 Understanding the sources of this admirable performance would shed ...
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[BOOK] The European economy since 1945: coordinated capitalism and beyond

[PDF] from lnb.lt
B Eichengreen - 2009 - books.google.com
In 1945, many Europeans still heated with coal, cooled their food with ice, and lacked indoor
plumbing. Today, things could hardly be more different. Over the second half of the twentieth
century, the average European's buying power tripled, while working hours fell by a third. ...
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[PDF] Can emerging markets float? Should they inflation target?

[PDF] from bancocentral.gov.br
B Eichengreen - Banco Central Do Brasil Working Paper …, 2002 - bancocentral.gov.br
Abstract The crises of the 1990s convinced many observers that intermediate exchange rate
arrangements are fragile and crisis prone. But advising emerging markets to abandon the
exchange rate as an anchor for policy compels those issuing the call to offer an alternative ...
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On regional monetary arrangements for ASEAN

[PDF] from cepii.com
Full text - MIT Libraries
T Bayoumi, B Eichengreen… - Journal of the Japanese and …, 2000 - Elsevier
This paper analyzes the extent to which ASEAN may be suitable for a regional monetary
arrangement. On the economic front, we review evidence on patterns of trade, economic
shocks, the extent of factor mobility, and the monetary transmission mechanism. We find ...
Cited by 211 - Related articles - Library Search - BL Direct - All 21 versions

Does Mercosur need a single currency

[PDF] from escholarship.org
B Eichengreen - 1998 - nber.org
The possibility of a single currency for the Mercosur countries was raised by Argentine
President Menem in December 1997 and again at the regional summit this past June. This
paper argues that whether Mercosur needs a common currency depends on what kind of ...
Cited by 209 - Related articles - Library Search - BL Direct - All 15 versions

The pain of original sin

[PDF] from berkeley.edu
B Eichengreen, R Hausmann… - Other people's money: …, 2005 - books.google.com
If a country is unable to borrow abroad in its own currency—if it suffers from the problem that
we refer to as “original sin”—then when it accumulates a net debt, as developing countries
are expected to do, it will have an aggregate currency mismatch on its balance sheet. Of ...
Cited by 209 - Related articles - All 10 versions

[BOOK] Hedge funds and financial market dynamics

BJ Eichengreen, DJ Mathieson… - 1998 - books.google.com
Page 1. Hedge Funds and Financial Market Dynamics By a Staff Team led by Barry Eichengreen
and Donald Mathieson with Bankim Chadha, Anne Jansen, Laura Kodres, and Sunil Sharma
INTERNATIONAL MONETARY FUND Washington DC May 1998 Page 2. Page 3. ...
Cited by 196 - Related articles - Get it from MIT Libraries - Library Search - All 4 versions

Capital account liberalization and growth: was Mr. Mahathir right?

[PDF] from kenyon.edu
Full text - MIT Libraries
B Eichengreen… - International Journal of Finance & …, 2003 - Wiley Online Library
Abstract Much ink has been spilled over the connections between capital account
liberalization and growth. One reason that previous studies have been inconclusive, we
show, is their failure to account for the impact of crises on growth and for the capacity of ...
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Holding International Reserves in an Era of High Capital Mobility [with Comments and Discussion]

[PDF] from bupedu.com
R Flood, N Marion, PR Agénor… - Brookings trade forum, 2001 - JSTOR
Last September, as calls grew louder for European Central Bank (ECB) intervention to
reverse the euro's fall, the lead of an Economist article asked," If central banks are so
reluctant to intervene in foreign-exchange mar kets, why do they still hold so many ...
Cited by 193 - Related articles - Get it from MIT Libraries - Library Search - All 22 versions

Exchange rate volatility and intervention: implications of the theory of optimum currency areas

[PDF] from ucsc.edu
Full text - MIT Libraries
T Bayoumi… - Journal of International Economics, 1998 - Elsevier
We show that variables pointed to by the theory of optimum currency areas (OCAs) help to
explain patterns of exchange rate variability and intervention across countries. But OCA
considerations affect exchange market pressures and intervention in different ways. ...
Cited by 181 - Related articles - Library Search - BL Direct - All 16 versions

Debt and Default in the 1930s: Causes and Consequences

Full text - MIT Libraries
B Eichengreen… - European Economic Review, 1986 - Elsevier
This paper studies interwar experience with external debt and default. It begins with a
description of the contours of international borrowing and lending in the 1920s. We then use
some empirical models from recent literature on the 1970s to describe the interwar data. ...
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Operationalising the theory of optimum currency areas

T Bayoumi, B Eichengreen… - … , regionalism and the …, 1999 - books.google.com
In the literature on optimum currency areas (OCAs), theory has always run ahead of
empirics. The classic contributions of Mundell (1961), McKinnon (1964) and Kenen (1969)
were essentially theoretical. Beyond some casual observations-Mundell's to the effect that ...
Cited by 172 - Related articles - Library Search - BL Direct - All 7 versions

Hegemonic stability theories of the international monetary system

[PDF] from seu.edu.cn
B Eichengreen - 1989 - nber.org
Specialists in international relations have argued that international regimes operate
smoothly and exhibit stability only when dominated by a single, exceptionally powerful
national economy. In particular, this" theory of hegemonic stability" has been applied to ...
Cited by 171 - Related articles - Library Search - All 13 versions

[CITATION] Sterling in Decline: the devaluations of 1931, 1949 and 1967

A Cairncross… - 1983 - getcited.org
An academic directory and search engine.
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Is China's FDI coming at the expense of other countries?

[PDF] from hec.ca
B Eichengreen… - Journal of the Japanese and International …, 2007 - Elsevier
We analyze how China's emergence as a destination for foreign direct investment is
affecting the ability of other countries to attract FDI, using an approach that accounts for the
endogeneity of China's FDI. Results suggest that China's rapid growth and attractions as a ...
Cited by 163 - Related articles - Get it from MIT Libraries - Library Search - All 25 versions

The impact of China on the exports of other Asian countries

[PDF] from my-world-guide.com
B Eichengreen, Y Rhee… - 2004 - nber.org
We analyze the impact of China's growth on the exports of other Asian countries. Our
innovation is to distinguish the increase in China's demand for imports from its increased
penetration of export markets. Using the gravity model, we disaggregate among ...
Cited by 153 - Related articles - Library Search - BL Direct - All 11 versions

[BOOK] Other people's money: debt denomination and financial instability in emerging market economies

BJ Eichengreen… - 2005 - books.google.com
Page 1. OTHER PEOPLE'S MONEY Debt Denomination and Financial Instabili in
Emerging Market Economies EDITED BY Barry Eichengreen AND Ricardo Hausmann
Page 2. OTHER PEOPLE'S MONEY Page 3. Page 4. THER ...
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Why doesn't Asia have bigger bond markets?

[PDF] from bis.org
B Eichengreen… - 2004 - nber.org
Asia's underdeveloped bond markets and dependence on bank finance have been topics of
concern since the crisis of 1997-8. In this paper we document that the slow development of
Asian bond markets is a phenomenon with multiple dimensions. Larger country size, ...
Cited by 149 - Related articles - Library Search - BL Direct - All 32 versions

[BOOK] A retrospective on the Bretton Woods system: lessons for international monetary reform

MD Bordo… - 1993 - books.google.com
... Page 4. A National Bureau of Economic Research Project Report Page 5. A Retrospective on
the Bretton Woods System Lessons for International Monetary Reform Edited by Michael D. Bordo
and Barry Eichengreen The University of Chicago Press Chicago and London Page 6 ...
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The political economy of the Smoot-Hawley tariff

[PDF] from seu.edu.cn
B Eichengreen - 1986 - nber.org
Economic histories of the interwar years view the Great Depression and the Smoot Hawley
Tariff as inextricably bound up with one another. They assign a central role to the
Depression in explaining the passage of the 1930 Tariff Act and at the same time ...
Cited by 134 - Related articles - Library Search - All 10 versions

Was there really an earlier period of international financial integration comparable to today?

[PDF] from j-bradford-delong.net
MD Bordo, B Eichengreen… - 1998 - nber.org
In this paper we reconsider the international market integration, starting at high levels in the
late nineteenth century, collapsing between the wars, and recovering gradually after 1945 to
reach levels comparable to pre-1914 in the 1990's. The empirical evidence we survey ...
Cited by 133 - Related articles - Library Search - BL Direct - All 14 versions

Would collective action clauses raise borrowing costs?

[PDF] from escholarship.org
B Eichengreen… - 2000 - nber.org
We examine the implications for borrowing costs of including collective-action clauses in
loan contracts. For a sample of some 2,000 international bonds, we compare the spreads on
bonds subject to UK governing law, which typically include collective-action clauses, with ...
Cited by 129 - Related articles - Library Search - BL Direct - All 33 versions

[BOOK] The currency composition of foreign exchange reserves-retrospect and prospect

BJ Eichengreen… - 2000 - books.google.com
... Page 2. Working Paper A INTERNATIONAL MONETARY FUND Page 3. W IMF Worki
n@Pé"6%1F The Currency Composition of Foreign Exchange Reserves: Retrospect and Prospect
Barry Eichengreen and Donald J. Mathiesorz INTERNATIONAL MONETARY FUND Page 4. ...
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The Marshall Plan: History's Most Successful Structural Adjustment Program

[PDF] from escholarship.org
JB De Long… - 1991 - nber.org
The post-World War II reconstruction of Western Europe was one of the greatest economic
policy and foreign policy successes of this century." Folk wisdom" assigns a major role in
successful reconstruction to the Marshall Plan: the program that transferred some $13 ...
Cited by 129 - Related articles - Library Search - All 27 versions

Can foreign aid accelerate stabilization?

A Casella… - 1994 - nber.org
This paper studies the effect of foreign aid on economic stabilization. Following Alesina and
Drazen (1991), we model the delay in stabilizing as the result of a distributional struggle:
reforms are postponed because they are costly and each distributional faction hopes to ...
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[CITATION] The political economy of European monetary unification

BJ Eichengreen… - 1994 - Westview Pr
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The anatomy of financial crises

[PDF] from tu.ac.th
B Eichengreen… - 1989 - nber.org
A financial crisis is a disturbance to financial markets. associated typically with falling asset
prices and insolvency among debtors and intermediaries, which spreads through the
financial system, disrupting the market’ s capacity to allocate capital. In this paper we ...
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Macroeconomic adjustment under Bretton Woods and the post-Bretton Woods float: an impulse-response analysis

[PDF] from escholarship.org
T Bayoumi… - 1992 - nber.org
We use time-series methods to estimate a simple aggregate-supply aggregate-demand
model in order to analyze the comparative performance of fixed-and flexible-exchange-rate
systems and test competing hypotheses designed to explain shifts between exchange- ...
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The real exchange rate and economic growth

[PDF] from growthcommission.org
B Eichengreen - Social and Economic Studies, 2007 - JSTOR
The real exchange rate was not at the center of the first generation of neoclassical growth
models, nor was it prominent among the policy prescriptions that flowed from those models.
Recent analyses, in contrast, have paid it more attention. This article, based on the ...
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International Comparisons of Taxation for Selected Developing Countries, 1972-76 (Comparaisons entre les systèmes fiscaux de certains pays en développement, …

AA Tait, WLM Grätz… - Staff Papers-International Monetary …, 1979 - JSTOR
Page 1. International Comparisons of Taxation for Selected Developing Countries,
1972-76 ALAN A. TAIT, WILFRID LM GRATZ, and BARRY J. EICHENGREEN* T HE
INTERNATIONAL COMPARISON of taxation is a controversial ...
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Transition strategies and nominal anchors on the road to greater exchange-rate flexibility

B Eichengreen, P Masson… - Princeton Essays in …, 1999 - ideas.repec.org
This essay considers strategies that developing and emerging-market economies might use
when seeking to exit from currency pegs. It also considers techniques for completing the
move to greater flexibility, as well as the scope for adopting inflation targeting as a ...
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[BOOK] The international debt crisis in historical perspective

B Eichengreen… - 1992 - books.google.com
This anatomy of financial crises shows that the worldwide debt crisis of the 1980s was not
unprecedented and was even forecast by many. Eichengreen and Lindert bring together
original studies that assess the historical record to see what lessons can be learned for ...
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Reforming budgetary institutions in Latin America: the case for a national fiscal council

Full text - MIT Libraries
B Eichengreen, R Hausmann… - Open Economies Review, 1999 - Springer
Latin America's economies have made tremendous improvements in recent years. Following
the lost decade of the 1980s, economic growth has resumed. But the fruits of this progress
remain to be consolidated. The political consensus supporting reform is fragile, and the ...
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Is there a conflict between EC enlargement and European monetary unification?

T Bayoumi… - 1992 - nber.org
Recent proposals for enlarging the European Community to include the EFTA countries
raise the question of whether the new members should participate in a European Monetary
Union. In part, the issue hinges on the incidence of aggregate supply and demand ...
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When to dollarize

[PDF] from narotama.ac.id
B Eichengreen - Journal of Money, Credit and Banking, 2002 - JSTOR
Implicit in the debate over dollarization are two very different views of the sequencing of
policy measures. One view is that dollarization, to work smoothly and yield more benefits
than costs, must wait on the completion of complementary reforms. The other view is that ...
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Monetary and exchange rate arrangements for NAFTA

Full text - MIT Libraries
T Bayoumi… - Journal of Development Economics, 1994 - Elsevier
Abstract This paper considers the extent to which the North American Free Trade Area
(NAFTA) meets the criteria for a common currency area. NAFTA is compared with the EC, a
regional grouping for which initial plans for a monetary union are already in place. Most of ...
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Central bank transparency: where, why, and with what effects?

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NN Dincer… - 2007 - nber.org
Greater transparency in central bank operations is the most dramatic change in the conduct
of monetary policy in recent years. In this paper we present new information on its extent and
effects. We show that the trend is general: a large number of central banks have moved in ...
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Democracy and globalization

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B Eichengreen… - Economics & Politics, 2008 - Wiley Online Library
The relationship between democracy and globalization has been a subject of both scholarly
and policy debate. Some argue that the two go hand in hand–that unrestricted international
transactions encourage political accountability and transparency and that politically free ...
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[CITATION] After the deluge: default, negotiation, and readjustment during the interwar years

B Eichengreen, R Portes - … debt crisis in …, 1989 - Cambridge, Mass.: MIT Press
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[BOOK] Chinese currency controversies

B Eichengreen… - 2004 - papers.ssrn.com
Abstract: This Paper reviews the controversy over China's exchange rate regime. Placing the
issue in the context of the literature on exit strategies, it argues that now is the best time for
China to exit from its peg. Moving to a managed float would be in the country's own ...
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The political economy of fiscal restrictions: implications for Europe from the United States

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B Eichengreen… - European Economic Review, 1994 - Elsevier
This paper analyzes fiscal restrictions in the United States as a way of shedding light on the
likely effects of the excessive deficits provisions of the Maastricht Treaty. We consider their
impact on levels of deficits, on the cost of borrowing, and on the stabilization function of ...
Cited by 102 - Related articles - Library Search - All 8 versions

[BOOK] Sustainable regimes of capital movements in accession countries

[PDF] from cepr.org.uk
D Begg, B Eichengreen, J von Hagen, L Halpern… - 2003 - cepr.org.uk
Executive Summary Currency crises are not new, but financial integration is raising the costs
of unsound policy design. Currency crises are particularly unwelcome in accession
countries (ACs) hoping to make a smooth transition first to European Union (EU) ...
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Fiscal policy and monetary union: federalism, fiscal restrictions and the no-bailout rule

B Eichengreen… - CEPR Discussion Papers, 1995 - ideas.repec.org
Avocates of formal fiscal restraints on the member states of the European Monetary Union
often argue that US experience proves that a monetary union needs such constraints to
guarantee the stability of the common currency. We show, first, that the origin of formal ...
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[BOOK] Global imbalances and the lessons of Bretton Woods

BJ Eichengreen - 2007 - books.google.com
... Barry Eichengreen The Cairoli Lectures Page 2. ... Cairoli Lecture Series Federico Sturzenegger,
editor Laurence J. Kotlikoff, Generational Policy Michael D. Whinston, Lectures on Antitrust
Economics Barry Eichengreen, Global Imbalances and the Lessons of Bretton Woods ...
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[CITATION] One money or many

T Bayoumi… - Analyzing the, 1994
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Sterling's past, dollar's future: Historical perspectives on reserve currency competition

[PDF] from umass.edu
B Eichengreen - 2005 - nber.org
This paper provides an historical perspective on reserve currency competition and on the
prospects of the dollar as an international currency. It questions the conventional wisdom
that competition for reserve-currency status is a winner-take-all game, showing that ...
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The Great Depression as a credit boom gone wrong

[PDF] from berkeley.edu
B Eichengreen… - 2004 - emeraldinsight.com
Abstract: The experience of the 1990s renewed economists' interest in the role of credit in
macroeconomic fluctuations. The locus classicus of the credit-boom view of economic cycles
is the expansion of the 1920s and the Great Depression. In this paper we ask how well ...
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A more perfect union? The logic of economic integration

B Eichengreen - Princeton Studies in International Economics, 1996 - ideas.repec.org
This lecture is about the connections between three types of union-customs union, monetary
union, and political union. The first section asks whether monetary integration is a
concomitant of commercial integration. The second asks whether political integration is a ...
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Lending booms, reserves and the sustainability of short-term debt: inferences from the pricing of syndicated bank loans

Full text - MIT Libraries
B Eichengreen… - Journal of Development Economics, 2000 - Elsevier
This paper analyzes the determinants of spreads on syndicated bank lending to emerging
markets, treating the loan-extension and pricing decisions as jointly determined. Compared
to the bond market, our findings highlight the role of international banks in providing credit ...
Cited by 97 - Related articles - All 6 versions

Crisis prevention and management: any new lessons from Argentina and Turkey? Background paper written for the World Banks Global Development Finance 2002

B Eichengreen - 2001 - Citeseer
Abstract It was Sir Walter Raleigh who said that those who follow too close on the heels of
history risk getting kicked in the teeth. No doubt he would have warned that it is still too early
to draw definitive lessons from the most recent round of crises in Turkey and Argentina. ...
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Saving Europe's automatic stabilisers

[PDF] from escholarship.org
B Eichengreen - National Institute Economic Review, 1997 - ner.sagepub.com
Abstract European policymakers have repeatedly suggested that fiscal-policy coordination
and fiscal federalism will play key roles in Europe's monetary union. This paper warns that
this hope is misplaced. Fiscal federalism will not be available to offset recessionary ...
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What to Do with the Chiang Mai Initiative*

Full text - MIT Libraries
B Eichengreen - Asian Economic Papers, 2003 - MIT Press
An important instance of regional cooperation in Asia is the Chiang Mai Initiative (CMI) for
swap lines and credits agreed to by the ASEAN+ 3 countries in May 2000. This agreement
reflects the desire to buttress financial stability following the searing crisis of 1997-98 and ...
Cited by 95 - Related articles - BL Direct - All 5 versions

Trends and cycles in foreign lending

B Eichengreen - 1990 - nber.org
ABSTRACT Over the past century, the world economy has passed through a succession of
phases characterized by very different levels of internstionsl capital flows. This paper asks
whar accounrs for these dramatic shifts in the extent of capital aovements across national ...
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Bank rate policy under the interwar gold standard: a dynamic probit model

[PDF] from wesleyan.edu
Full text - MIT Libraries
B Eichengreen, MW Watson… - The Economic Journal, 1985 - JSTOR
'In truth, the gold standard is already a barbarous relic. All of us, from the Governor of the
Bank of England downwards, are now primarily interested in preserving the stability of
business, prices, and employment, and are not likely, when the choice is forced upon us, ...
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[BOOK] Elusive stability: essays in the history of international finance, 1919-1939

BJ Eichengreen - 1993 - books.google.com
Page 1. ELUSIVE STABILITY Essays in the History of International Finance,
1919-1939 X u \ Barry Eichengreen "-Wd V Page 2. Page 3. Page 4. Page 5. Elusive
stability Page 6. Studies in Monetary and Financial History EDITORS ...
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Optimum currency areas and exchange rate volatility: Theory and evidence compared

T Bayoumi… - … trade and finance: New frontiers for …, 1997 - books.google.com
One of the limitations of the literature on optimum currency areas, a topic to which Peter
Kenen so importantly contributed, has always been the difficulty of confronting theory with
evidence. We have at best limited information on the symmetry of shocks, the sectoral ...
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The Marshall Plan: economic effects and implications for Eastern Europe and the former USSR

[PDF] from escholarship.org
B Eichengreen, M Uzan, N Crafts… - Economic Policy, 1992 - JSTOR
Europe's post-World War II experience with the Marshall Plan is frequently invoked by
advocates of Western aid for Eastern Europe and the former USSR. Yet previous analyses of
the Marshall Plan are uniformly sceptical that it had important economic effects. This paper ...
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