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Globalisation: A Macro-Financial Perspective

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  • Philip R. Lane

    (European Central Bank, Trinity College Dublin and CEPR)

Abstract

The preservation of macro-financial stability in a globalised economy poses several challenges. First, evidence-based policymaking depends on the availability of informative macro-financial data: this paper discusses the Irish experience in developing customised versions of macroeconomic and financial statistics to track domestic developments. Second, policymaking in a globalised economy is constrained by a trio of trilemmas (monetary, financial and political economy): this paper interprets membership of the EU and the Euro Area in the context of these trilemmas.

Suggested Citation

  • Philip R. Lane, 2019. "Globalisation: A Macro-Financial Perspective," The Economic and Social Review, Economic and Social Studies, vol. 50(2), pages 249-263.
  • Handle: RePEc:eso:journl:v:50:y:2019:i:2:p:249-263
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    References listed on IDEAS

    as
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    9. Timmer, Yannick, 2018. "Cyclical investment behavior across financial institutions," Journal of Financial Economics, Elsevier, vol. 129(2), pages 268-286.
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