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Ronald I. McKinnon

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Ronald McKinnon, 2010. "Rehabilitating the unloved dollar standard," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 24(2), pages 1-18, November.

    Mentioned in:

    1. The ABCT making its presence in the maintream literature
      by Nicolas Cachanosky in Punto de Vista Economico on 2013-09-02 08:10:35

Working papers

  1. Ronald McKINNON, 2014. "Hot Money Flows, Cycles in Primary Commodity Prices, and Financial Control in Developing Countries," Working Papers P109, FERDI.

    Cited by:

    1. Yan, Cheng & Phylaktis, Kate & Fuertes, Ana-Maria, 2016. "On cross-border bank credit and the U.S. financial crisis transmission to equity markets," Journal of International Money and Finance, Elsevier, vol. 69(C), pages 108-134.

  2. Ronald Ian McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency," CESifo Working Paper Series 4649, CESifo Group Munich.

    Cited by:

    1. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.
    2. Naoyuki Yoshino & Sahoko Kaji & Tamon Asonuma, 2014. "Dynamic Transition of Exchange Rate Regime in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 36-55, July.
    3. Tang, Bo, 2014. "Real Exchange Rate and Economic Growth in China: A Cointegrated VAR Approach," MPRA Paper 66087, University Library of Munich, Germany.
    4. Andrea Fracasso, 2015. "Economic Rebalancing and Growth: the Japanese experience and China’s prospects," DEM Discussion Papers 2015/07, Department of Economics and Management.
    5. Gunther Schnabl, 2016. "Exchange Rate Regime, Financial Market Bubbles and Long-Term Growth in China: Lessons from Japan," CESifo Working Paper Series 5902, CESifo Group Munich.
    6. Hoffmann, Andreas & Schnabl, Gunther, 2016. "Monetary policies of industrial countries, emerging market credit cycles and feedback effects," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 855-873.
    7. Yoshino, Naoyuki & Asonuma, Tamon, 2017. "Optimal Dynamic Path during the Transition of Exchange Rate Regime: Analysis of the People’s Republic of China (PRC), Malaysia, and Singapore," ADBI Working Papers 765, Asian Development Bank Institute.
    8. Andreas Hoffmann & Gunther Schnabl, 2018. "Warum der frühe Ausstieg aus der finanziellen Repression lohnt
      [Why an Early Exit from Financial Repression is Worthwhile]
      ," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 98(7), pages 498-503, July.

  3. McKinnon, Ronald & Liu, Zhao, 2013. "Hot Money Flows, Commodity Price Cycles, and Financial Repression in the US and the People’s Republic of China: The Consequences of Near Zero US Interest Rates," Working Papers on Regional Economic Integration 107, Asian Development Bank.

    Cited by:

    1. Tong, Eric, 2017. "US monetary policy and global financial stability," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 466-485.

  4. McKinnon, Ronald & Liu, Zhao, 2013. "Modern Currency Wars: The United States versus Japan," ADBI Working Papers 437, Asian Development Bank Institute.

    Cited by:

    1. Robert W. Włodarczyk, 2014. "Is There a Global Currency War?," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship of the Faculty of Economics and International Relations at the Cracow University of Economics., vol. 2(2), pages 21-30.
    2. Akihito Asano & Rod Tyers, 2015. "Third Arrow Reforms and Japan’s Economic Performance," Economics Discussion / Working Papers 15-17, The University of Western Australia, Department of Economics.
    3. Kawai, Masahiro, 2015. "International Spillovers of Monetary Policy: US Federal Reserve's Quantitative Easing and Bank of Japan's Quantitative and Qualitative Easing," ADBI Working Papers 512, Asian Development Bank Institute.
    4. Akihito Asano & Rod Tyers, 2016. "Japan's oligopolies: potential gains from third arrow reforms," CAMA Working Papers 2016-03, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

  5. Ronald Ian McKinnon & Gunther Schnabl, 2011. "China and its Dollar Exchange Rate: A Worldwide Stabilizing Influence?," CESifo Working Paper Series 3449, CESifo Group Munich.

    Cited by:

    1. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.
    2. Chi Wei Su & Heng-Guo Zhang & Hsu-Ling Chang & Rui Nian, 2016. "Is exchange rate stability beneficial for stabilizing consumer prices in China?," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 25(6), pages 857-879, September.
    3. Gunther Schnabl, 2017. "Monetary policy and overinvestment in East Asia and Europe," Asia Europe Journal, Springer, vol. 15(4), pages 445-462, December.
    4. Anni Huang & Narayan Kundan Kishor, 2019. "The rise of dollar credit in emerging market economies and US monetary policy," The World Economy, Wiley Blackwell, vol. 42(2), pages 530-551, February.
    5. Menkhoff, Lukas, 2012. "Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies," Hannover Economic Papers (HEP) dp-498, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    6. Gunther Schnabl, 2012. "Monetary Policy Reform in a World of Central Banks," Global Financial Markets Working Paper Series 26-2012, Friedrich-Schiller-University Jena.
    7. Schnabl, Gunther, 2013. "The global move into the zero interest rate and high debt trap," Working Papers 121, University of Leipzig, Faculty of Economics and Management Science.
    8. Wang, Lijian & Béland, Daniel & Zhang, Sifeng, 2014. "Pension financing in China: Is there a looming crisis?," China Economic Review, Elsevier, vol. 30(C), pages 143-154.
    9. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2013. "Limits of Monetary Policy Autonomy and Exchange Rate Flexibility by East Asian Central Banks," Global Financial Markets Working Paper Series 48-2013, Friedrich-Schiller-University Jena.
    10. Xue GAO & Hsu-Ling CHANG & Chi-Wei SU, 2018. "Does exchange rate always affect the number of inbound tourists significantly in China?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(614), S), pages 55-72, Spring.
    11. Andrea Fracasso, 2015. "Economic Rebalancing and Growth: the Japanese experience and China’s prospects," DEM Discussion Papers 2015/07, Department of Economics and Management.
    12. Gunther Schnabl, 2016. "Exchange Rate Regime, Financial Market Bubbles and Long-Term Growth in China: Lessons from Japan," CESifo Working Paper Series 5902, CESifo Group Munich.
    13. Gábor, Tamás, 2012. "China's monetary sterilization and it's economical relationship with the European Union," MPRA Paper 40362, University Library of Munich, Germany.
    14. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2012. "Limits of Monetary Policy Autonomy by East Asian Debtor Central Banks," CESifo Working Paper Series 3742, CESifo Group Munich.
    15. José R. Sánchez-Fung, 2016. "Reviewing Trade Policy in China During the Transition to Balanced Economic Growth," The World Economy, Wiley Blackwell, vol. 39(12), pages 1934-1946, December.
    16. Kristina Spantig, 2012. "International monetary policy spillovers in an asymmetric world monetary system - The United States and China," Global Financial Markets Working Paper Series 2012-33, Friedrich-Schiller-University Jena.
    17. Luigi Bonatti & Andrea Fracasso, 2016. "Modelling The Transition Towards The Renminbi'S Full Convertibility: Implications For China'S Growth," Bulletin of Economic Research, Wiley Blackwell, vol. 68(S1), pages 146-170, December.
    18. Ronald McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the RMB as an International Currency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 1-35, July.
    19. Paul S. L. Yip, 2016. "China’S Exchange Rate System Reform: Two Potential Mistakes And The Recommended Long-Term System," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-40, June.
    20. Gábor, Tamás & Kiss, Gábor Dávid & Kovács, Péter, 2012. "A monetáris sterilizáció hatékonysága és költségei Kínában
      [The efficiency and costs of monetary sterilization in China]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 164-188.
    21. Bonatti, Luigi & Fracasso, Andrea, 2013. "Regime switches in the Sino-American co-dependency: Growth and structural change in China," Structural Change and Economic Dynamics, Elsevier, vol. 25(C), pages 1-32.
    22. Ronald Ian McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency," CESifo Working Paper Series 4649, CESifo Group Munich.
    23. Bonatti, Luigi & Fracasso, Andrea, 2014. "Modeling the Transition Towards Renminbi's Full Convertibility: Implications for China’s Growth," MPRA Paper 54129, University Library of Munich, Germany.
    24. Robert Dixon & Zhichao Zhang & Yang Dai, 2016. "Exchange Rate Flexibility in China: Measurement, Regime Shifts and Driving Forces of Change," Review of International Economics, Wiley Blackwell, vol. 24(5), pages 875-892, November.
    25. Sara Hsu & Alba Carolina Melchor Simon, 2016. "China’s structural transformation: reaching potential GDP in the financial services sector," China Finance and Economic Review, Springer, vol. 4(1), pages 1-17, December.
    26. Turhan, Ibrahim M. & Arslan, Yavuz & Kılınç, Mustafa, 2011. "Global Imbalances, Current Account Rebalancing and Exchange Rate Adjustments," MPRA Paper 36475, University Library of Munich, Germany.
    27. Jarko Fidrmuc & Martin Siddiqui, 2015. "Exchange Rate Policy in China after the Financial Crisis: Evidence from Time-varying Exchange Rate Basket," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 608-623, August.
    28. Bonatti, Luigi & Fracasso, Andrea, 2013. "Hoarding of international reserves in China: Mercantilism, domestic consumption and US monetary policy," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 1044-1078.
    29. Luigi Bonatti & Andrea Fracasso, 2012. "The costs of rebalancing the China-US co-dependency," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 120(1), pages 59-106.
    30. Axel Loeffler, 2015. "Reserve Requirements and Real Exchange Rate Misalignments in Emerging Market Economies," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 516-530, August.
    31. Schnabl, Gunther, 2017. "Monetary policy and wandering overinvestment cycles in East Asia and Europe," Working Papers 148, University of Leipzig, Faculty of Economics and Management Science.
    32. Zhang, Teng & Ouyang, Puman, 2018. "Is RMB appreciation a nightmare for the Chinese firms? An analysis on firm profitability and exchange rate," International Review of Economics & Finance, Elsevier, vol. 54(C), pages 27-43.
    33. Kristina Spantig, 2015. "International monetary policy spillovers—can the RMB and the euro challenge the hegemony of the US dollar?," Asia Europe Journal, Springer, vol. 13(4), pages 459-478, December.
    34. McKinnon, Ronald, 2013. "The U.S. saving deficiency, current-account deficits, and deindustrialization: Implications for China," Journal of Policy Modeling, Elsevier, vol. 35(3), pages 449-458.
    35. Kang Chen & Chang Yee Kwan, 2015. "How are Exchange Rates Managed? Evidence of an Anchor-Based Heuristic," The World Economy, Wiley Blackwell, vol. 38(6), pages 1006-1014, June.

  6. Ronald McKinnon, 2010. "China's exchange rate : The plight of an immature international creditor," Macroeconomics Working Papers 22725, East Asian Bureau of Economic Research.

    Cited by:

    1. Pairault, Thierry, 2013. "Les entreprises chinoises sous la tutelle directe du gouvernement illustrées par leur investissement en Afrique," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 13.

  7. Ronald McKinnon & Gunther Schnabl, 2009. "China's financial conundrum and global imbalances," BIS Working Papers 277, Bank for International Settlements.

    Cited by:

    1. Shirai, Sayuri, 2009. "世界経済危機とグローバル・マネーの変動 ―国際経済秩序へのインプリケーションー
      [Global Economic Crisis and Movements of Cross-Border Capital Flows ―Implication to the Global Economic Order―]
      ," MPRA Paper 18619, University Library of Munich, Germany.
    2. Quaas, Georg, 2010. "Does the macroeconomic policy of the global economy’s leader cause the worldwide asymmetry in current accounts?," MPRA Paper 22133, University Library of Munich, Germany.
    3. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2010. "Inflation Targeting by Debtor Central Banks in Emerging Market Economies," CESifo Working Paper Series 3138, CESifo Group Munich.
    4. Ila Patnaik & Ajay Shah, 2009. "The difficulties of the Chinese and Indian exchange rate regimes," Macroeconomics Working Papers 22975, East Asian Bureau of Economic Research.
    5. Duo Qin & Xinhua He, 2010. "Is the Chinese Currency Substantially Misaligned to Warrant Further Appreciation?," Working Papers 660, Queen Mary University of London, School of Economics and Finance.
    6. Hailong Jin & E. Kwan Choi, 2013. "China's Profits and Losses from Currency Intervention, 1994-2011," CESifo Working Paper Series 4551, CESifo Group Munich.
    7. Hoffmann, Andreas, 2009. "An Overinvestment Cycle in Central and Eastern Europe?," MPRA Paper 15668, University Library of Munich, Germany.
    8. Kristina Spantig, 2012. "International monetary policy spillovers in an asymmetric world monetary system - The United States and China," Global Financial Markets Working Paper Series 2012-33, Friedrich-Schiller-University Jena.
    9. Tan, Zhibo & Yao, Yang & Wei, Shang-Jin, 2015. "Financial structure, corporate savings and current account imbalances," Journal of International Money and Finance, Elsevier, vol. 54(C), pages 142-167.
    10. Xu Yi-chong, 2012. "Sovereign wealth funds: the good, the bad or the ugly?," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 17(2), pages 193-207.
    11. Ying Wu, 2010. "Exchange Rates and Prices under Processing Trade: A Macroeconomic Analysis," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 38(3), pages 345-357, September.
    12. Jingliang Xiao & Glyn Wittwer, 2009. "Will an Appreciation of the Renminbi Rebalance the Global Economy? A Dynamic Financial CGE Analysis," Centre of Policy Studies/IMPACT Centre Working Papers g-192, Victoria University, Centre of Policy Studies/IMPACT Centre.

  8. McKinnon, Ronald & Schnabl, Gunther, 2008. "China's exchange rate impasse and the weak U.S. dollar," Working Papers 73, University of Leipzig, Faculty of Economics and Management Science.

    Cited by:

    1. Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2010. "Dynamically Optimal R\& D Subsidization," Hannover Economic Papers (HEP) dp-453, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    2. Casajus, André, 2012. "Solidarity and fair taxation in TU games," Working Papers 111, University of Leipzig, Faculty of Economics and Management Science.
    3. Schnabl, Gunther & Zemanek, Holger, 2011. "Die Deutsche Wiedervereinigung und die europäische Schuldenkrise im Lichte der Theorie optimaler Währungsräume," Working Papers 94, University of Leipzig, Faculty of Economics and Management Science.
    4. Steger, Thomas & Schäfer, Andreas, 2012. "Journey into the Unknown? Economic Consequences of Factor Market Integration under Increasing Returns to Scale," Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62062, Verein für Socialpolitik / German Economic Association.
    5. Quaas, Georg, 2012. "Ein Nelson-Winter-Modell der deutschen Volkswirtschaft," Working Papers 112, University of Leipzig, Faculty of Economics and Management Science.
    6. Gan, Christopher & Ward, Bert & Ting, Su Ting & Cohen, David A., 2013. "An empirical analysis of China's equilibrium exchange rate: A co-integration approach," Journal of Asian Economics, Elsevier, vol. 29(C), pages 33-44.
    7. Gawel, Erik, 2014. "Neuordnung der Professorenbesoldung in Sachsen," Working Papers 128, University of Leipzig, Faculty of Economics and Management Science.
    8. Papenfuß, Ulf (Ed.) & Redlich, Matthias (Ed.) & Steinhauer, Lars (Ed.), 2014. "Forschend und engagiert lernen im Public Management: Befunde und Gestaltungsanregungen eines Service Learning Lehrforschungsprojektes," Working Papers 133, University of Leipzig, Faculty of Economics and Management Science.
    9. Belke, Ansgar & Schnabl, Gunther, 2010. "Finanzkrise, globale Liquidität und makroökonomischer Exit," IBES Diskussionsbeiträge 184, University of Duisburg-Essen, Institute of Business and Economic Studie (IBES).
    10. Casajus, André, 2011. "Collusion, symmetry, and the Banzhaf value," Working Papers 99, University of Leipzig, Faculty of Economics and Management Science.
    11. Quaas, Friedrun, 2014. "Orthodoxer Mainstream und Heterodoxe Alternativen: Eine Analyse der ökonomischen Wissenschaftslandschaft," Working Papers 129, University of Leipzig, Faculty of Economics and Management Science.
    12. Mai Dao & Ruo Chen, 2011. "The Real Exchange Rate and Employment in China," IMF Working Papers 11/148, International Monetary Fund.
    13. Hongyi Chen & Lars Jonung & Olaf Unteroberdoerster, 2009. "Lessons for China from financial liberalization in Scandinavia," European Economy - Economic Papers 2008 - 2015 383, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    14. Gawel, Erik, 2013. "Neuordnung der W-Besoldung: Ausgestaltung und verfassungsrechtliche Probleme der Komsumtionsregeln zur Anrechnung von Leistungsbezügen," Working Papers 115, University of Leipzig, Faculty of Economics and Management Science.
    15. Casajus, André & Huettner, Frank, 2013. "Null players, solidarity, and the egalitarian Shapley values," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 58-61.
    16. Papenfuß, Ulf & Steinhauer, Lars & Friedländer, Benjamin, 2015. "Beteiligungsberichterstattung der öffentlichen Hand im 13-Länder-Vergleich: Erfordernisse für mehr Transparenz über die Governance und Performance öffentlicher Unternehmen," Working Papers 135, University of Leipzig, Faculty of Economics and Management Science.
    17. Quaas, Georg & Köster, Robert, 2012. "Ein Modell für die Wirtschaftszweige der deutschen Volkswirtschaft: Das "MOGBOT" (Model of Germany's Branches of Trade)," Working Papers 106, University of Leipzig, Faculty of Economics and Management Science.
    18. Trela, Karl, 2014. "Klimaanpassung als wirtschaftspolitisches Handlungsfeld," Working Papers 131, University of Leipzig, Faculty of Economics and Management Science.
    19. Casajus, André & Hüttner, Frank, 2012. "Nullifying vs. dummifying players or nullified vs. dummified players: The difference between the equal division value and the equal surplus division value," Working Papers 110, University of Leipzig, Faculty of Economics and Management Science.
    20. Gawel, Erik & Aguado, Miquel, 2014. "Neuregelungen der W-Besoldung auf dem verfassungsrechtlichen Prüfstand," Working Papers 132, University of Leipzig, Faculty of Economics and Management Science.
    21. Casajus, André, 2012. "The Shapley value without efficiency and additivity," Working Papers 114, University of Leipzig, Faculty of Economics and Management Science.
    22. Trela, Karl, 2014. "Politische Klimaanpassungsentscheidungen in Deutschland - Defizite und Ansatzpunkte für Entscheidungsunterstützungssysteme
      [Political climate adaptation decisions in Germany - shortcomings and appl
      ," Working Papers 134, University of Leipzig, Faculty of Economics and Management Science.
    23. Hoffmann, Andreas & Schnabl, Gunther, 2011. "Symmetrische Regeln und asymmetrisches Handeln in der Geld- und Finanzpolitik," Working Papers 95, University of Leipzig, Faculty of Economics and Management Science.

  9. Ronald Ian McKinnon & Gunther Schnabl, 2006. "China’s Exchange Rate and International Adjustment in Wages, Prices, and Interest Rates: Japan Déjà Vu?," CESifo Working Paper Series 1720, CESifo Group Munich.

    Cited by:

    1. Mizanur Rahman, 2009. "The Impact of Real Exchange Rate Flexibility on East Asian Exports," The World Economy, Wiley Blackwell, vol. 32(7), pages 1075-1090, July.
    2. Ronald McKinnon & Gunther Schnabl, 2012. "China and Its Dollar Exchange Rate: A Worldwide Stabilising Influence?," The World Economy, Wiley Blackwell, vol. 35(6), pages 667-693, June.
    3. Schnabl, Gunther, 2007. "Exchange rate volatility and growth in small open economies at the EMU periphery," Working Paper Series 773, European Central Bank.
    4. Andreas Hoffmann & Gunther Schnabl, 2007. "Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets – An Overinvestment View," CESifo Working Paper Series 2100, CESifo Group Munich.
    5. Zhang, Zhibai, 2010. "A comparison of the BEER and Penn effect models via their applications on the valuation of the Renminbi," MPRA Paper 40649, University Library of Munich, Germany.
    6. Schnabl, Gunther & Ziegler, Christina, 2011. "Exchange rate and wage policies in Central and Eastern Europe," Journal of Policy Modeling, Elsevier, vol. 33(3), pages 347-360, May.
    7. Gunther Schnabl & Christina Ziegler, 2008. "Exchange Rate Regime and Wage Determination in Central and Eastern Europe," CESifo Working Paper Series 2471, CESifo Group Munich.
    8. Andrea Fracasso, 2015. "Economic Rebalancing and Growth: the Japanese experience and China’s prospects," DEM Discussion Papers 2015/07, Department of Economics and Management.
    9. Ronald Mckinnon, 2007. "Japan'S Deflationary Hangover: Wage Stagnation And The Syndrome Of The Ever-Weaker Yen," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 52(03), pages 309-334.
    10. Gunther Schnabl, 2016. "Exchange Rate Regime, Financial Market Bubbles and Long-Term Growth in China: Lessons from Japan," CESifo Working Paper Series 5902, CESifo Group Munich.
    11. Risheng Mao & John Whalley, 2011. "Ownership Characteristics, Real Exchange Rate Movements and Labor Market Adjustment in China," NBER Working Papers 17565, National Bureau of Economic Research, Inc.
    12. Straub, Roland & Thimann, Christian, 2010. "The external and domestic side of macroeconomic adjustment in China," Journal of Asian Economics, Elsevier, vol. 21(5), pages 425-444, October.
    13. Ronald McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the RMB as an International Currency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 1-35, July.
    14. Douglas L. Campbell, 2017. "Relative Prices and Hysteresis: Evidence from US Manufacturing," Working Papers w0212, Center for Economic and Financial Research (CEFIR).
    15. Ziegler, Christina, 2012. "Monetary policy under alternative exchange rate regimes in Central and Eastern Europe," Working Papers 104, University of Leipzig, Faculty of Economics and Management Science.
    16. Ronald Ian McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency," CESifo Working Paper Series 4649, CESifo Group Munich.
    17. Gunther Schnabl & Christian Danne, 2007. "A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan," CESifo Working Paper Series 2051, CESifo Group Munich.
    18. Jakub Borowski & Adam Czerniak & Krystian Jaworski, 2014. "The quest for determinants of Chinese exchange rate policy," Bank i Kredyt, Narodowy Bank Polski, vol. 45(5), pages 407-432.
    19. Rahman, Mizanur, 2008. "The Impact of a Common Currency on East Asian Production Networks and China’s Exports Behavior," MPRA Paper 13931, University Library of Munich, Germany.
    20. Aliyu, Shehu Usman Rano, 2009. "Impact of Oil Price Shock and Exchange Rate Volatility on Economic Growth in Nigeria: An Empirical Investigation," MPRA Paper 16319, University Library of Munich, Germany, revised 10 Jun 2009.
    21. Campbell, Douglas L., 2013. "Relative Prices, Hysteresis, and the Decline of American Manufacturing," MPRA Paper 51723, University Library of Munich, Germany.
    22. Avner Bar-Ilan & Nancy P. Marion, 2009. "A Macroeconomic Perspective on Reserve Accumulation," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 802-823, September.
    23. Frenkel, Roberto, 2007. "The sustainability of monetary sterilization policies," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.

  10. McKinnon, Ronald, 2006. "China's Exchange Rate Appreciation in the Light of the Earlier Japanese Experience," ZEW Discussion Papers 06-035, ZEW - Leibniz Centre for European Economic Research.

    Cited by:

    1. Rod Tyers & Ying Zhang, 2014. "Real exchange rate determination and the China puzzle," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 28(2), pages 1-32, November.
    2. Michael Funke & Marc Gronwald, 2008. "The undisclosed Renminbi Basket: are the markets telling us something about where the Renminbi - US Dollar Exchange Rate is going?," Quantitative Macroeconomics Working Papers 20812b, Hamburg University, Department of Economics.
    3. Rod Tyers, 2015. "Slower Growth and Vulnerability to Recession: Updating China’s Global Impact," Economics Discussion / Working Papers 15-22, The University of Western Australia, Department of Economics.
    4. Cho-Hoi Hui & Chi-Fai Lo & Tsz-Kin Chung, 2008. "Market Expectation of Appreciation of the Renminbi," Working Papers 0803, Hong Kong Monetary Authority.
    5. Robert Lafrance, 2008. "China's Exchange Rate Policy: A Survey of the Literature," Discussion Papers 08-5, Bank of Canada.
    6. Rod Tyers & Iain Bain, 2008. "American And European Financial Shocks: Implications For Chinese Economic Performance," CAMA Working Papers 2008-08, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    7. Ying Wu, 2010. "Exchange Rates and Prices under Processing Trade: A Macroeconomic Analysis," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 38(3), pages 345-357, September.
    8. Ho, Kin-Yip & Shi, Yanlin & Zhang, Zhaoyong, 2018. "Public information arrival, price discovery and dynamic correlations in the Chinese renminbi markets," The North American Journal of Economics and Finance, Elsevier, vol. 46(C), pages 168-186.

  11. Ronald McKinnon, 2005. "Exchange Rate or Wage Changes in International Adjustment? Japan and China versus the United States," Discussion Papers 04-021, Stanford Institute for Economic Policy Research.

    Cited by:

    1. Antoine Bouveret & Sana Mestiri & Henri Sterdyniak, 2006. "The Renminbi Equilibrium Exchange Rate: an agnostic view," Working Papers hal-01073825, HAL.
    2. Haihong Gao, 2006. "Real Exchange Rate in China : A Long-run Perspective," Macroeconomics Working Papers 21969, East Asian Bureau of Economic Research.
    3. Risheng Mao & John Whalley, 2011. "Ownership Characteristics, Real Exchange Rate Movements and Labor Market Adjustment in China," NBER Working Papers 17565, National Bureau of Economic Research, Inc.
    4. Yoshinori Kurokawa & Jiaren Pang & Yao Tang, 2013. "Exchange Rate Regimes and Wage Comovements in a Ricardian Model with Money," Tsukuba Economics Working Papers 2013-005, Economics, Graduate School of Humanities and Social Sciences, University of Tsukuba, revised Jul 2016.

  12. Ronald I. McKinnon, 2005. "China's New Exchange Rate Policy: Will China Follow Japan into a Liquidity Trap?," Discussion Papers 05-002, Stanford Institute for Economic Policy Research.

    Cited by:

    1. Lane, Philip R. & Schmukler, Sergio, 2006. "The International Financial Integration of China and India," CEPR Discussion Papers 5852, C.E.P.R. Discussion Papers.
    2. Antoine Bouveret & Sana Mestiri & Henri Sterdyniak, 2006. "The Renminbi Equilibrium Exchange Rate: an agnostic view," Working Papers hal-01073825, HAL.
    3. Paul S. L. Yip & Yiu-Kuen Tse & Yingjie Dong, 2017. "The Exchange Rate System Reform in China: US Pressure, Implicit Gradual Appreciation and Explicit Exchange Rate Bands," Economic Growth Centre Working Paper Series 1710, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    4. Cao Emily Yixuan & Cao Yong & Prasad Rashmi & Shen Zhengping, 2011. "U.S.-China Exchange Rate Negotiation: Stakeholders' Participation and Strategy Deployment," Business and Politics, De Gruyter, vol. 13(3), pages 1-25, October.
    5. Yin-wong Cheung & Dickson Tam & Matthew S. Yiu, 2006. "Does the Chinese Interest Rate Follow the US Interest Rate?," Working Papers 192006, Hong Kong Institute for Monetary Research.
    6. Antoine Bouveret & Sana Mestiri & Henri Sterdyniak, 2006. "La valeur du yuan: Les paradoxes du taux de change d’équilibre," Sciences Po publications info:hdl:2441/5282, Sciences Po.
    7. Paul S. L. Yip, 2016. "China’S Exchange Rate System Reform: Two Potential Mistakes And The Recommended Long-Term System," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-40, June.
    8. Wu, Ying, 2009. "Measuring China's monetary sterilization and autonomy in the era of globalization: 1995-2005," Journal of Asian Economics, Elsevier, vol. 20(3), pages 336-347, May.
    9. Cappiello, Lorenzo & Mehl, Arnaud, 2007. "Uncovered interest parity at distant horizons: evidence on emerging economies & nonlinearities," Working Paper Series 801, European Central Bank.
    10. Niklas Potrafke, 2007. "Social Security in Germany: A Prey of Political Opportunism?," Discussion Papers of DIW Berlin 677, DIW Berlin, German Institute for Economic Research.

  13. Ronald McKinnon & Gunther Schnabl, 2004. "The Return to Soft Dollar Pegging in East Asia. Mitigating Conflicted Virtue," International Finance 0406007, University Library of Munich, Germany, revised 07 Jul 2004.

    Cited by:

    1. Mathilde Maurel & Gunther Schnabl, 2011. "Keynesian and Austrian Perspective on Crisis, Shock Adjustment, Exchange Rate Regime and (Long-Term) Growth," Documents de travail du Centre d'Economie de la Sorbonne 11004, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    2. Chang Shu & Dong He & Xiaoqiang Cheng, 2014. "One currency, two markets: the renminbi’s growing influence in Asia-Pacific," BIS Working Papers 446, Bank for International Settlements.
    3. Ouyang, Alice Y. & Rajan, Ramkishen S. & Willett, Thomas D., 2010. "China as a reserve sink: The evidence from offset and sterilization coefficients," Journal of International Money and Finance, Elsevier, vol. 29(5), pages 951-972, September.
    4. Fritz, Barbara & Mühlich, Laurissa, 2007. "South-south monetary integration: the case for a research framework beyond the theory of optimum currency area," Discussion Papers 2007/20, Free University Berlin, School of Business & Economics.
    5. McKinnon Ronald I, 2006. "China's New Exchange Rate Policy: Will China Follow Japan into a Liquidity Trap?," The Economists' Voice, De Gruyter, vol. 3(5), pages 1-7, April.
    6. Gunther Schnabl, 2004. "International Capital Markets, Macroeconomic Stability, and Exchange Rate Stabilization in the CIS and East Asia," International Finance 0410009, University Library of Munich, Germany, revised 01 Mar 2005.
    7. Benjamin Keddad, 2013. "Assessing Asian Exchange Rates Coordination under Regional Currency Basket System," Working Papers halshs-00862254, HAL.
    8. Kearney, Colm & Muckley, Cal, 2008. "Can the traditional Asian US dollar peg exchange rate regime be extended to include the Japanese yen?," International Review of Financial Analysis, Elsevier, vol. 17(5), pages 870-885, December.
    9. Ronald McKinnon & Gunther Schnabl, 2012. "China and Its Dollar Exchange Rate: A Worldwide Stabilising Influence?," The World Economy, Wiley Blackwell, vol. 35(6), pages 667-693, June.
    10. Stephany Griffith-Jones, 2012. "Session II: Chair's initial remarks," BIS Papers chapters,in: Bank for International Settlements (ed.), Financial sector regulation for growth, equity and stability, volume 62, pages 89-92 Bank for International Settlements.
    11. H. Gao, 2008. "Global dollar standard: challenges for Asian financial integration," Economic Change and Restructuring, Springer, vol. 41(4), pages 369-382, December.
    12. Schnabl, Gunther, 2007. "Exchange rate volatility and growth in small open economies at the EMU periphery," Working Paper Series 773, European Central Bank.
    13. Yin-Wong Cheung & Xingwang Qian, 2007. "Hoarding of International Reserves: Mrs Machlup’s Wardrobe and the Joneses," CESifo Working Paper Series 2065, CESifo Group Munich.
    14. Gunther Schnabl, 2012. "Monetary Policy Reform in a World of Central Banks," Global Financial Markets Working Paper Series 26-2012, Friedrich-Schiller-University Jena.
    15. Benjamin Keddad, 2013. "Exchange rate coordination in Asia under regional currency basket systems," Economics Bulletin, AccessEcon, vol. 33(4), pages 2913-2929.
    16. Chee-Heong Quah, 2016. "A Diagnostic on the West African Monetary Union," South African Journal of Economics, Economic Society of South Africa, vol. 84(1), pages 129-148, March.
    17. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2013. "Limits of Monetary Policy Autonomy and Exchange Rate Flexibility by East Asian Central Banks," Global Financial Markets Working Paper Series 48-2013, Friedrich-Schiller-University Jena.
    18. de Truchis, Gilles & Keddad, Benjamin, 2013. "Southeast Asian monetary integration: New evidences from fractional cointegration of real exchange rates," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 26(C), pages 394-412.
    19. C. Randall Henning, 2012. "Choice and Coercion in East Asian Exchange Rate Regimes," Working Paper Series WP12-15, Peterson Institute for International Economics.
    20. Gunther Schnabl, 2015. "Monetary Policy and Structural Decline: Lessons from Japan for the European Crisis," Asian Economic Papers, MIT Press, vol. 14(1), pages 124-150, Winter/Sp.
    21. Qin, Duo & Tan, Tao, 2009. "How much intraregional exchange rate variability could a currency union remove? The case of ASEAN+3," Journal of Banking & Finance, Elsevier, vol. 33(10), pages 1793-1803, October.
    22. Jonathan Scott Davis, 2017. "External debt and monetary policy autonomy," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 35(82), pages 53-63, April.
    23. Jeffrey A. Frankel & Shang-Jin Wei, 2007. "Assessing China's exchange rate regime," Economic Policy, CEPR;CES;MSH, vol. 22, pages 575-627, July.
    24. ChangJin Kim & Jong-Wha Lee, 2008. "Exchange Rate Regime And Monetary Policy Independence In East Asia," Pacific Economic Review, Wiley Blackwell, vol. 13(2), pages 155-170, May.
    25. Gunther Schnabl, 2016. "Exchange Rate Regime, Financial Market Bubbles and Long-Term Growth in China: Lessons from Japan," CESifo Working Paper Series 5902, CESifo Group Munich.
    26. Piotr Lis, 2015. "Relationships between the finance system and housing markets," Working papers wpaper99, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    27. Hoffmann, Andreas & Schnabl, Gunther, 2016. "Monetary policies of industrial countries, emerging market credit cycles and feedback effects," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 855-873.
    28. Patrick Artus, 2009. "À quoi ont servi les réserves de change très importantes ?," Revue d'Économie Financière, Programme National Persée, vol. 95(2), pages 259-274.
    29. Laurissa Mühlich, 2011. "South–South Regional Monetary Cooperation: Potential Gains for Developing Countries and Emerging Markets," Chapters,in: Regional Integration, Economic Development and Global Governance, chapter 13 Edward Elgar Publishing.
    30. Gunther Schnabl, 2012. "Die japanischen Lehren für die europäische Krise," Global Financial Markets Working Paper Series 2012-36, Friedrich-Schiller-University Jena.
    31. Chengsi Zhang, 2009. "Excess Liquidity, Inflation and the Yuan Appreciation: What Can China Learn from Recent History?," The World Economy, Wiley Blackwell, vol. 32(7), pages 998-1018, July.
    32. Yeh Kuo-chun, 2009. "Will a Taiwan-China Monetary Union be Feasible? Lessons from Europe," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 14(3), pages 1-36, March.
    33. Andreas Hoffmann & Gunther Schnabl, 2014. "Monetary Policies of Large Industrialised Countries, Emerging Market Credit Cycles and Feedback Effects," CESifo Working Paper Series 4723, CESifo Group Munich.
    34. Luigi Bonatti & Andrea Fracasso, 2009. "The evolution of the Sino-American Co-dependency: modelling a regime switch in a growth setting," Department of Economics Working Papers 0905, Department of Economics, University of Trento, Italia.
    35. McKinnon, Ronald & Schnabl, Gunther, 2008. "China's exchange rate impasse and the weak U.S. dollar," Working Papers 73, University of Leipzig, Faculty of Economics and Management Science.
    36. Ronald McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the RMB as an International Currency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 1-35, July.
    37. Berdiev, Aziz N. & Chang, Chun-Ping, 2015. "Business cycle synchronization in Asia-Pacific: New evidence from wavelet analysis," Journal of Asian Economics, Elsevier, vol. 37(C), pages 20-33.
    38. Chow, Hwee Kwan & Kim, Yoonbai & Sun, Wei, 2007. "Characterizing exchange rate policy in East Asia: A reconsideration," Journal of Asian Economics, Elsevier, vol. 18(3), pages 448-465, June.
    39. Schnabl, Gunther, 2005. "International Capital Markets and Informal Dollar Standards in the CIS and East Asia," HWWA Discussion Papers 326, Hamburg Institute of International Economics (HWWA).
    40. Caporale, Guglielmo Maria & Gil-Alana, Luis A. & You, Kefei, 2018. "Exchange rate linkages between the ASEAN currencies, the US dollar and the Chinese RMB," Research in International Business and Finance, Elsevier, vol. 44(C), pages 227-238.
    41. Ronald Ian McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency," CESifo Working Paper Series 4649, CESifo Group Munich.
    42. Sunil Sharma & Woon Gyu Choi & Maria Strömqvist, 2007. "Capital Flows, Financial Integration, and International Reserve Holdings; The Recent Experience of Emerging Markets and Advanced Economies," IMF Working Papers 07/151, International Monetary Fund.
    43. Sajid Anwar & Desh Gupta, 2006. "Financial Restructuring and Economic Growth in Thailand," Global Economic Review, Taylor & Francis Journals, vol. 35(1), pages 113-127.
    44. Gunther Schnabl & Christian Danne, 2007. "A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan," CESifo Working Paper Series 2051, CESifo Group Munich.
    45. Gunther Schnabl, 2011. "The role of the chinese dollar peg for macroeconomic stability in China and the world economy," Global Financial Markets Working Paper Series 13-2010, Friedrich-Schiller-University Jena.
    46. Victor Pontines & Reza Y. Siregar, 2010. "Fear of Appreciation in East and Southeast Asia: The Role of the Chinese Renminbi," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp78, April.
    47. Haihong Gao & Yongding Yu, 2011. "Internationalisation of the renminbi," BIS Papers chapters,in: Bank for International Settlements (ed.), Currency internationalisation: lessons from the global financial crisis and prospects for the future in Asia and the Pacific, volume 61, pages 105-124 Bank for International Settlements.
    48. Aggarwal, Raj & Muckley, Cal B., 2010. "Assessing co-ordinated Asian exchange rate regimes: Proposal for a possible move towards a common currency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(2), pages 149-165, April.
    49. Haihong Gao, 2013. "Convertibility as a step for the RMB internationalization," Economic Change and Restructuring, Springer, vol. 46(1), pages 71-84, March.
    50. Keddad, Benjamin, 2016. "How do the Renminbi and other East Asian currencies co-move?," MPRA Paper 83782, University Library of Munich, Germany.
    51. Gunther Schnabl, 2013. "The Macroeconomic Policy Challenges of Balance Sheet Recession: Lessons from Japan for the European Crisis," CESifo Working Paper Series 4249, CESifo Group Munich.
    52. Aliyu, Shehu Usman Rano, 2009. "Impact of Oil Price Shock and Exchange Rate Volatility on Economic Growth in Nigeria: An Empirical Investigation," MPRA Paper 16319, University Library of Munich, Germany, revised 10 Jun 2009.
    53. Gunther Schnabl, 2005. "International Capital Markets and Exchange Rate Stabilization in the CIS," International Finance 0505015, University Library of Munich, Germany.
    54. Avner Bar-Ilan & Nancy P. Marion, 2009. "A Macroeconomic Perspective on Reserve Accumulation," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 802-823, September.
    55. Wali, Muammer & Chan, Felix & Manzur, Meher, 2017. "Nonlinear dependence in exchange rate returns: How do emerging Asian currencies compare with major currencies?," Journal of Asian Economics, Elsevier, vol. 50(C), pages 62-72.
    56. Akhand Akhtar Hossain, 2015. "Economic Management in a Volatile Environment: Monetary and Financial Issues by Ramkishen S. Rajan and Sasidaran Gopalan Palgrave Macmillan , London , 2015 Pp. xx+283. ISBN 9 78 137 37151-5," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 29(2), pages 103-106, November.
    57. Helmut Reisen & Martin Grandes & Nicolas Pinaud, 2005. "Macroeconomic Policies: New Issues of Interdependence," OECD Development Centre Working Papers 241, OECD Publishing.
    58. Ronald McKinnon & Gunther Schnabl, 2009. "The Case for Stabilizing China's Exchange Rate: Setting the Stage for Fiscal Expansion," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(1), pages 1-32.
    59. Gunther Schnabl, 2007. "Exchange Rate Volatility and Growth in Emerging Europe and East Asia," CESifo Working Paper Series 2023, CESifo Group Munich.

  14. Ronald McKinnon & Gunther Schnabl, 2003. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Working Papers 112003, Hong Kong Institute for Monetary Research.

    Cited by:

    1. Mathilde Maurel & Gunther Schnabl, 2011. "Keynesian and Austrian Perspective on Crisis, Shock Adjustment, Exchange Rate Regime and (Long-Term) Growth," Documents de travail du Centre d'Economie de la Sorbonne 11004, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    2. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.
    3. Hager, Svenja & Schöbel, Rainer, 2006. "Deriving the dependence structure of portfolio credit derivatives using evolutionary algorithms," Tübinger Diskussionsbeiträge 300, University of Tübingen, School of Business and Economics.
    4. Zaby, Alexandra K., 2009. "The propensity to patent in oligopolistic markets," Tübinger Diskussionsbeiträge 323, University of Tübingen, School of Business and Economics.
    5. Charles Adams & Hwee Kwan Chow, 2007. "Asian Currency Baskets : An Answer in Search of a Question?," Finance Working Papers 22055, East Asian Bureau of Economic Research.
    6. Schnabl, Gunther & Freitag, Stephan, 2009. "An asymmetry matrix in global current accounts," Working Papers 76, University of Leipzig, Faculty of Economics and Management Science.
    7. Hurşit Güneş, 2013. "The Political Foundations of Economic Crises and the Economic Foundations of Political Crises; The Intermingling Relationship: Turkish Case 1950–2002," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 41(1), pages 29-49, March.
    8. Gunther Schnabl, 2006. "The Evolution of the East Asian Currency Baskets – Still Undisclosed and Changing," CESifo Working Paper Series 1873, CESifo Group Munich.
    9. Yalcin, Erdal, 2007. "The proximity-concentration trade-off in a dynamic framework," Tübinger Diskussionsbeiträge 312, University of Tübingen, School of Business and Economics.
    10. Aaron Jackson & William Miles, 2008. "Fixed Exchange Rates and Disinflation in Emerging Markets: How Large Is the Effect?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 144(3), pages 538-557, October.
    11. Cruz Rodriguez, Alexis, 2009. "Choosing and assessing exchange rate regimes: A survey of the literature," MPRA Paper 16314, University Library of Munich, Germany.
    12. Felbermayr, Gabriel & Toubal, Farid, 2006. "Cultural proximity and trade," Tübinger Diskussionsbeiträge 305, University of Tübingen, School of Business and Economics.
    13. Marcel Fratzscher & Arnaud Mehl, 2014. "China's Dominance Hypothesis and the Emergence of a Tri‐polar Global Currency System," Economic Journal, Royal Economic Society, vol. 124(581), pages 1343-1370, December.
    14. Essers, Dennis & Cassimon, Danny, 2012. "Washing away original sin: vulnerability to crisis and the role of local currency bonds in Sub-Saharan Africa," IOB Working Papers 2012.12, Universiteit Antwerpen, Institute of Development Policy (IOB).
    15. Alexander Karmann & Rodrigo Herrera, 2014. "Volatility Contagion in the Asian Crisis: New Evidence of Volatility Tail Dependence," Review of Development Economics, Wiley Blackwell, vol. 18(2), pages 354-371, May.
    16. Kim, Suk-Joong & Wu, Eliza, 2008. "Sovereign credit ratings, capital flows and financial sector development in emerging markets," Emerging Markets Review, Elsevier, vol. 9(1), pages 17-39, March.
    17. Vincent Bouvatier, 2004. "Crise de change et politique monétaire optimale dans un modèle de troisième génération : le rôle de la prime de risque," Cahiers de la Maison des Sciences Economiques bla04089, Université Panthéon-Sorbonne (Paris 1).
    18. Eiji Ogawa, 2011. "Currency Baskets for East Asia," Chapters,in: Regional Integration, Economic Development and Global Governance, chapter 14 Edward Elgar Publishing.
    19. Cook, David & Devereux, Michael B, 2004. "External Currency Pricing and the East Asian Crisis," CEPR Discussion Papers 4642, C.E.P.R. Discussion Papers.
    20. Dirk Engelmann & Jan Hanousek & Evzen Kocenda, 2004. "Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks (Currencies, Competition, and Clans)," Macroeconomics 0406003, University Library of Munich, Germany.
    21. Eric Hillebrand & Gunther Schnabl, 2003. "The Effects of Japanese Foreign Exchange Intervention: GARCH Estimation and Change Point Detection," Departmental Working Papers 2003-09, Department of Economics, Louisiana State University.
    22. Schnabl, Gunther, 2003. "China: a stabilizing or deflationary influence in East Asia?The problem of conflicted virtue," Tübinger Diskussionsbeiträge 263, University of Tübingen, School of Business and Economics.
    23. Syed Kumail Abbas Rizvi & Bushra Naqvi & Nawazish Mirza, 2014. "From Fear of Floating to Benign Neglect: The Exchange Rate Regime Roller Coaster in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 19(Special E), pages 17-34, September.
    24. Phil Garton, 2004. "Foreign reserve accumulation in Asia: Can it be sustained?," Economic Roundup, The Treasury, Australian Government, issue 3, pages 1-21, November.
    25. Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2017. "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," Working Paper 503441, Harvard University OpenScholar.
    26. Schnabl, Gunther, 2007. "Exchange rate volatility and growth in small open economies at the EMU periphery," Working Paper Series 773, European Central Bank.
    27. Ulrich Volz (ed.), 2011. "Regional Integration, Economic Development and Global Governance," Books, Edward Elgar Publishing, number 14259.
    28. Francisco Eduardo Pires de Souza & Cecília Rutkoski Hoff, 2003. "O Regime Cambial Brasileiro: Flutuação Genuína ou Medo de Flutuação?," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] c60, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    29. Andreas Hoffmann, 2014. "Zero-interest Rate Policy and Unintended Consequences in Emerging Markets," The World Economy, Wiley Blackwell, vol. 37(10), pages 1367-1387, October.
    30. Menkhoff, Lukas, 2012. "Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies," Hannover Economic Papers (HEP) dp-498, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    31. Schnabl, Gunther & Hillebrand, Eric, 2006. "A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility," Working Paper Series 650, European Central Bank.
    32. Yin-Wong Cheung & Xingwang Qian, 2007. "Hoarding of International Reserves: Mrs Machlup’s Wardrobe and the Joneses," CESifo Working Paper Series 2065, CESifo Group Munich.
    33. Andreas Hoffmann & Gunther Schnabl, 2007. "Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets – An Overinvestment View," CESifo Working Paper Series 2100, CESifo Group Munich.
    34. Heger, Diana & Zaby, Alexandra K., 2009. "The propensity to patent with vertically differentiated products: An empirical investigation," Tübinger Diskussionsbeiträge 325, University of Tübingen, School of Business and Economics.
    35. Michael Funke & Marc Gronwald, 2008. "The undisclosed Renminbi Basket: are the markets telling us something about where the Renminbi - US Dollar Exchange Rate is going?," Quantitative Macroeconomics Working Papers 20812b, Hamburg University, Department of Economics.
    36. Vitalie Ciubotaru, 2012. "Identifying the De Facto Exchange Rate Regime for Moldova: A State-Space Approach," Discussion Papers in Economics and Business 12-10, Osaka University, Graduate School of Economics.
    37. Kang-Soek Lee, 2011. "A Euro Peg System as an Alternative for the Chinese Exchange Rate Regime?," Chapters,in: The Economic Crisis and European Integration, chapter 8 Edward Elgar Publishing.
    38. Frederic S. Mishkin, 2006. "Monetary Policy Strategy: How Did We Get Here?," NBER Working Papers 12515, National Bureau of Economic Research, Inc.
    39. Olga Arratibel & Davide Furceri & Reiner Martin & Aleksandra Zdzienicka, 2009. "The Effect of Nominal Exchange Rate Volatility on Real Macroeconomic Performance in the CEE Countries," Working Papers 0934, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    40. Siregar, Reza.Y. & Goo, Siwei, 2009. "Effectiveness and Commitment to Inflation Targeting Policy: Evidences from Indonesia and Thailand," MPRA Paper 17271, University Library of Munich, Germany.
    41. Schüle, Tobias, 2006. "Creditor coordination with social learning and endogenous timing of credit decisions," Tübinger Diskussionsbeiträge 307, University of Tübingen, School of Business and Economics.
    42. James Laurenceson, "undated". "China�s exchange rate policy: the case against abandoning the dollar peg," EAERG Discussion Paper Series 0105, School of Economics, University of Queensland, Australia.
    43. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics,in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520 Elsevier.
    44. David Cook & Nikhil Patel, 2018. "Dollar invoicing, exchange rates and international trade," BIS Papers chapters,in: Bank for International Settlements (ed.), The price, real and financial effects of exchange rates, volume 96, pages 108-121 Bank for International Settlements.
    45. Masahiro Kawai & Victor Pontines, 2014. "The Renminbi and Exchange Rate Regimes in East Asia," Finance Working Papers 24218, East Asian Bureau of Economic Research.
    46. Schnabl, Gunther, 2006. "Capital markets and exchange rate stabilization in East Asia: Diversifying risk based on currency baskets," HWWI Research Papers 2-1, Hamburg Institute of International Economics (HWWI).
    47. Devereux, Michael B. & Shi, Shouyong, 2008. "Vehicle currency," Globalization Institute Working Papers 10, Federal Reserve Bank of Dallas.
      • Michael B. Devereux & Shouyong Shi, 2013. "Vehicle Currency," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(1), pages 97-133, February.
      • Michael B. Devereux & Shouyong Shi, 2008. "Vehicle Currency," Working Papers tecipa-315, University of Toronto, Department of Economics.
    48. Jie Sun, 2010. "Retrospect of the Chinese Exchange Rate Regime after Reform: Stylized Facts during the Period from 2005 to 2010," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 18(6), pages 19-35.
    49. Dino Martellato, 2010. "Skirmishing Currencies," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 17(4), pages 645-661, December.
    50. Frontczak, Robert & Schöbel, Rainer, 2008. "Pricing American options with Mellin transforms," Tübinger Diskussionsbeiträge 319, University of Tübingen, School of Business and Economics.
    51. Billen, Dieter & Garcia, Maria Melody & Khasanova, Nelli, 2005. "Is the effect of exchange rate volatility on trade more pronounced in Latin America than in Asia?," Kiel Advanced Studies Working Papers 434, Kiel Institute for the World Economy (IfW).
    52. Dymke, Björn M. & Walter, Andreas, 2006. "Insider trading in Germany: Do corporate insiders exploit inside information?," Tübinger Diskussionsbeiträge 309, University of Tübingen, School of Business and Economics.
    53. WenShwo Fang & YiHao Lai & Stephen M. Miller, 2005. "Does Exchange Rate Risk Affect Exports Asymmetrically? Asian Evidence," Working papers 2005-09, University of Connecticut, Department of Economics.
    54. Jonathan Scott Davis, 2017. "External debt and monetary policy autonomy," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 35(82), pages 53-63, April.
    55. Schnabl, Gunther, 2003. "De jure versus de facto: Exchange rate stabilization in Central and Eastern Europe," Tübinger Diskussionsbeiträge 269, University of Tübingen, School of Business and Economics.
    56. Rostek, Stefan & Schöbel, Rainer, 2006. "Risk preference based option pricing in a fractional Brownian market," Tübinger Diskussionsbeiträge 299, University of Tübingen, School of Business and Economics.
    57. Click, Reid W., 2009. "The ASEAN dollar standard in the post-crisis era: A reconsideration," Journal of Asian Economics, Elsevier, vol. 20(3), pages 269-279, May.
    58. Frommel, Michael & Schobert, Franziska, 2006. "Exchange rate regimes in Central and East European countries: Deeds vs. words," Journal of Comparative Economics, Elsevier, vol. 34(3), pages 467-483, September.
    59. Hans Genberg, 2006. "Exchange-Rate Arrangements an Financial Integration in East Asia: On a Collision Course?," Working Papers 122, Oesterreichische Nationalbank (Austrian Central Bank).
    60. Vithessonthi, Chaiporn & Tongurai, Jittima, 2014. "The spillover effects of unremunerated reserve requirements: Evidence from Thailand," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 338-351.
    61. Ozmen, Erdal & ArInsoy, Deniz, 2005. "The original sin and the blessing trinity: An investigation," Journal of Policy Modeling, Elsevier, vol. 27(5), pages 599-609, July.
    62. Click, Reid W., 2006. "On the composition of Asian central bank reserves: Will the euro replace the dollar?," Journal of Asian Economics, Elsevier, vol. 17(3), pages 417-426, June.
    63. Arnaud Mehl & Julien Reynaud, 2008. "Domestic debt structures in emerging markets: new empirical evidence," Documents de travail du Centre d'Economie de la Sorbonne bla08059, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    64. Bong-Han Kim & Hyeongwoo Kim & Hong-Ghi Min, 2011. "Reassessing the Link between the Japanese Yen and Emerging Asian Currencies," Auburn Economics Working Paper Series auwp2011-05, Department of Economics, Auburn University.
    65. Matsuki, Takashi & Sugimoto, Kimiko, 2013. "Stationarity of Asian real exchange rates: An empirical application of multiple testing to nonstationary panels with a structural break," Economic Modelling, Elsevier, vol. 34(C), pages 52-58.
    66. Sheng, Andrew & Kwek, Kian-Teng & Cho, Cho-Wai, 2009. "A tale of Asian exchange rate management: Romance of the three currencies," Journal of Asian Economics, Elsevier, vol. 20(5), pages 519-535, September.
    67. Kang-Soek LEE, 2010. "A Euro Peg System as an Alternative for the Chinese Exchange Rate Regime," LEO Working Papers / DR LEO 165, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    68. Thomas Willett & Eric M.P. Chiu & Sirathorn (B.J.) Dechsakulthorn & Ramya Ghosh & Bernard Kibesse & Kenneth Kim & Jeff (Yongbok) Kim & Alice Ouyang, 2011. "Classifying international aspects of currency regimes," Journal of Financial Economic Policy, Emerald Group Publishing, vol. 3(4), pages 288-303, November.
    69. Ronald McKinnon & Gunther Schnabl, 2006. "China's Exchange Rate and International Adjustment in Wages, Prices and Interest Rates: Japan Déjà Vu?," CESifo Economic Studies, CESifo, vol. 52(2), pages 276-303, June.
    70. Hailong Jin & E. Kwan Choi, 2013. "China's Profits and Losses from Currency Intervention, 1994-2011," CESifo Working Paper Series 4551, CESifo Group Munich.
    71. Schnabl, Gunther & Schobert, Franziska, 2007. "Monetary policy operations of debtor central banks in MENA countries," Working Papers 65, University of Leipzig, Faculty of Economics and Management Science.
    72. Brandes, Julia & Schüle, Tobias, 2007. "IMF's assistance: Devil's kiss or guardian angel?," Tübinger Diskussionsbeiträge 310, University of Tübingen, School of Business and Economics.
    73. Freitag, Stephan, 2010. "Choosing an anchor currency for the Pacific," Center for European, Governance and Economic Development Research Discussion Papers 112, University of Goettingen, Department of Economics.
    74. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2012. "Limits of Monetary Policy Autonomy by East Asian Debtor Central Banks," CESifo Working Paper Series 3742, CESifo Group Munich.
    75. Pitterle, Ingo & Steffen, Dirk, 2004. "Welfare Effects of Fiscal Policy under Alternative Exchange Rate Regimes : The Role of the Scale Variable of Money Demand," Tübinger Diskussionsbeiträge 284, University of Tübingen, School of Business and Economics.
    76. Mehl, Arnaud & Reynaud, Julien, 2005. "The determinants of "domestic" original sin in emerging market economies," Working Paper Series 560, European Central Bank.
    77. Demosthenes N. Tambakis, 2007. "Fear of Floating and Social Welfare," International Journal of Central Banking, International Journal of Central Banking, vol. 3(3), pages 183-204, September.
    78. M Farid, 2010. "Does Export Pricing Explain ‘Fear of Floating’ in Small Open Emerging Market Economies?," Discussion Papers 10/05, Department of Economics, University of York.
    79. Maria Socorro Gochoco-Bautista & Raul V. Fabella, 2006. "What Type of Monetary and Exchange Rate Cooperation do China’s Asian Neighbors Want from China?," UP School of Economics Discussion Papers 200604, University of the Philippines School of Economics.
    80. Reza Siregar & Siwei Goo, 2008. "Inflation Targeting Policy: The Experiences Of Indonesia And Thailand," CAMA Working Papers 2008-23, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    81. Monzur Hossain, 2008. "Exchange Rate Regime Transition Dynamics In East Asia," AIUB Bus Econ Working Paper Series AIUB-BUS-ECON-2008-03, American International University-Bangladesh (AIUB), Office of Research and Publications (ORP), revised Jan 2008.
    82. William Miles & Sam Schreyer, 2012. "Is monetary policy non-linear in Indonesia, Korea, Malaysia, and Thailand? A quantile regression analysis," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 26(2), pages 155-166, November.
    83. Shin-Ichi Fukuda & Sanae Ohno, 2008. "Post-Crisis Exchange Rate Regimes In Asean: A New Empirical Test Based On Intra-Daily Data," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 53(02), pages 191-213.
    84. Hwee Kwan Chow & Peter N. Kriz & Roberto S. Mariano & Augustine H. H. Tan, 2007. "Financial Liberalization and Monetary Policy Cooperation in East Asia1," Finance Working Papers 21916, East Asian Bureau of Economic Research.
    85. Heger, Diana & Zaby, Alexandra K., 2009. "The propensity to patent with horizontally differentiated products: An empirical investigation," Tübinger Diskussionsbeiträge 324, University of Tübingen, School of Business and Economics.
    86. Rumiana GÓRSKA, 2014. "Balance Sheet of a Central Bank – A Source of Information about the Economic Position of a Country. A Comparative Study of USA and China," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(4), pages 497-504, October.
    87. Rizvi, S.K.A. & Naqvi, Bushra & Mirza, Nawazish & Bordes, Christian, 2017. "Fear of floating in Asia and the credibility of true floaters?," Research in International Business and Finance, Elsevier, vol. 42(C), pages 149-160.
    88. Teo, Wing Leong, 2009. "Should East Asia's currencies be pegged to the yen? The role of invoice currency," Journal of the Japanese and International Economies, Elsevier, vol. 23(3), pages 283-308, September.
    89. Corrinne Ho & Guonan Ma & Robert N McCauley, 2005. "Trading Asian currencies," BIS Quarterly Review, Bank for International Settlements, March.
    90. Devereux, Michael B & Shi, Kang & Xu, Juanyi, 2004. "Global Monetary Policy Under a Dollar Standard," CEPR Discussion Papers 4317, C.E.P.R. Discussion Papers.
    91. Hwee Kwan Chow & Peter Nicholas Kriz & Roberto S. Mariano & Augustine H H Tan, 2007. "Financial Liberalization and Monetary Policy Cooperation in East Asia," Working Papers 03-2007, Singapore Management University, School of Economics.
    92. Berdiev, Aziz N. & Chang, Chun-Ping, 2015. "Business cycle synchronization in Asia-Pacific: New evidence from wavelet analysis," Journal of Asian Economics, Elsevier, vol. 37(C), pages 20-33.
    93. Gab-Je Jo, 2004. "Changes in misalignment of the Korean won: Towards a flexible exchange rate regime," Global Economic Review, Taylor & Francis Journals, vol. 33(1), pages 69-83.
    94. Ronald McKinnon & Gunther Schnabl, 2004. "The Return to Soft Dollar Pegging in East Asia. Mitigating Conflicted Virtue," International Finance 0406007, University Library of Munich, Germany, revised 07 Jul 2004.
    95. Xu, Yingfeng, 2008. "Lessons from Taiwan's experience of currency appreciation," China Economic Review, Elsevier, vol. 19(1), pages 53-65, March.
    96. Frankel, Jeffrey, 2004. "On the Renminbi: The Choice between Adjustment under a Fixed Exchange Rate and Adustment under a Flexible Rate," Working Paper Series rwp04-037, Harvard University, John F. Kennedy School of Government.
    97. Schnabl, Gunther, 2005. "International Capital Markets and Informal Dollar Standards in the CIS and East Asia," HWWA Discussion Papers 326, Hamburg Institute of International Economics (HWWA).
    98. Laurenceson, J. & Qin, F., 2005. "China's Exchange Rate Policy : The Case Against Abandoning the Dollar PEG," Discussion Paper 2005-70, Tilburg University, Center for Economic Research.
    99. Chmelarova, Viera & Schnabl, Gunther, 2006. "Exchange rate stabilization in developed and underdeveloped capital markets," Working Paper Series 636, European Central Bank.
    100. Brahim Gaies & Stéphane Goutte & Khaled Guesmi, 2019. "Does Financial Globalization Still Spur Growth In Emerging And Developing Countries? Considering Exchange Rate Volatility'S Effects," Working Papers hal-01968082, HAL.
    101. Kim, Bong-Han & Min, Hong-Ghi & McDonald, Judy & Hwang, Young-Soon, 2012. "Yen-synchronization of floating East Asian currencies: A regime-switching regression model and micro-structural analysis," Journal of the Japanese and International Economies, Elsevier, vol. 26(2), pages 221-232.
    102. Shin-ichi Fukuda & Sanae Ohno, 2006. "Post-crisis Exchange Rate Regimes in ASEAN:A New Empirical Test Based on Intra-daily Data (Forthcoming in "Singapore Economic Review". )," CARF F-Series CARF-F-079, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    103. Gunther Schnabl & Franziska Schobert, 2009. "Global Asymmetries In Monetary Policy Operations: Debtor Central Banks Of The Mena Region," Manchester School, University of Manchester, vol. 77(s1), pages 85-107, September.
    104. Huang, Haizhou & Wang, Shuilin, 2004. "Exchange rate regimes: China's experience and choices," China Economic Review, Elsevier, vol. 15(3), pages 336-342.
    105. Köpke, Nikola & Baten, Jörg, 2003. "The biological standard of living in Europe during the last two millennia," Tübinger Diskussionsbeiträge 265, University of Tübingen, School of Business and Economics.
    106. Frontczak, Robert, 2009. "Valuing options in Heston's stochastic volatility model: Another analytical approach," Tübinger Diskussionsbeiträge 326, University of Tübingen, School of Business and Economics.
    107. Jeffrey Frankel, 2005. "On the renminbi," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 6(3), pages 16-21, October.
    108. Jong-Eun Lee, 2016. "Exchange Rate Dynamics with Foreign Reserves: Revisiting the Dornbusch Overshooting Model," Review of Development Economics, Wiley Blackwell, vol. 20(2), pages 406-414, May.
    109. Hoffmann, Andreas & Loeffler, Axel, 2013. "Low interest rate policy and the use of reserve requirements in emerging markets," Working Papers 120, University of Leipzig, Faculty of Economics and Management Science.
    110. Hailong Jin & E. Kwan Choi, 2014. "China's Profits and Losses from Currency Intervention, 1994–2011," Pacific Economic Review, Wiley Blackwell, vol. 19(2), pages 170-183, May.
    111. Cook, David & Devereux, Michael B., 2006. "Accounting for the East Asian Crisis: A Quantitative Model of Capital Outflows in Small Open Economies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(3), pages 721-749, April.
    112. Kawai, Masahiro & Pontines, Victor, 2014. "Is There Really a Renminbi Bloc in Asia?," ADBI Working Papers 467, Asian Development Bank Institute.
    113. Shi, Kang & Xu, Juanyi, 2010. "Twin dollarization and exchange rate policy," Journal of International Economics, Elsevier, vol. 81(1), pages 109-121, May.
    114. Tomasz Koluk & Aaron Mehrotra, 2009. "The impact of Chinese monetary policy shocks on East and South-East Asia," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 17(1), pages 121-145, January.
    115. Siwei Goo & Reza Siregar, 2009. "Economic Shocks And Exchange Rate As A Shock Absorber In Indonesia And Thailand," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp72, April.
    116. Piti Disyatat & Surach Tanboon, 2005. "When Global Imbalances Unwind: Challenges for the Asian Region," Working Papers 2005-01, Monetary Policy Group, Bank of Thailand.
    117. Giancarlo Marini & Giovanni Piersanti, 2012. "Models of Speculative Attacks and Crashes in International Capital Markets," CEIS Research Paper 245, Tor Vergata University, CEIS, revised 24 Jul 2012.
    118. Paul De Grauwe & Gunther Schnabl, 2004. "Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe," International Finance 0404011, University Library of Munich, Germany.
    119. Schnabl, Gunther & Hoffmann, Andreas, 2007. "Geldpolitik, vagabundierende Liquidität und platzende Blasen in neuen und Aufstrebenden Märkten
      [Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets]
      ," MPRA Paper 4019, University Library of Munich, Germany.
    120. Basse, Tobias, 2006. "Floating exchange rates and inflation in Germany: Are external shocks really irrelevant?," Economics Letters, Elsevier, vol. 93(3), pages 393-397, December.
    121. Keddad, Benjamin, 2016. "How do the Renminbi and other East Asian currencies co-move?," MPRA Paper 83782, University Library of Munich, Germany.
    122. Deniz Arinsoy & Erdal Özmen, 2004. "Original Sin Mystery Trinity and Unequal Blessings," ERC Working Papers 0415, ERC - Economic Research Center, Middle East Technical University, revised Oct 2004.
    123. Eichengreen, Barry, 2006. "Global Imbalances and the Asian Economies: Implications for Regional Cooperation," Working Papers on Regional Economic Integration 4, Asian Development Bank.
    124. Woosik Moon & Yeongseop Rhee, 2012. "Asian Monetary Integration," Books, Edward Elgar Publishing, number 14191.
    125. McKinnon, Ronald I., 2005. "Trapped by the international dollar standard," Journal of Policy Modeling, Elsevier, vol. 27(4), pages 477-485, June.
    126. Baten, Jörg & Wallusch, Jacek, 2003. "Market integration and disintegration of Poland and Gemany [Germany] in the 18th century," Tübinger Diskussionsbeiträge 268, University of Tübingen, School of Business and Economics.
    127. Andreas Hoffmann & Gunther Schnabl, 2011. "National Monetary Policy, Internatinal Economic Instability and Feeback Effects - An Overinvestment View," Global Financial Markets Working Paper Series 19-2011, Friedrich-Schiller-University Jena.
    128. Michael P. Dooley & David Folkerts-Landau & Peter Garber, 2003. "An Essay on the Revived Bretton Woods System," NBER Working Papers 9971, National Bureau of Economic Research, Inc.
    129. Paul De Grauwe & Gunther Schnabl, 2008. "Exchange Rate Stability, Inflation, and Growth in (South) Eastern and Central Europe," Review of Development Economics, Wiley Blackwell, vol. 12(3), pages 530-549, August.
    130. Aliyu, Shehu Usman Rano, 2009. "Impact of Oil Price Shock and Exchange Rate Volatility on Economic Growth in Nigeria: An Empirical Investigation," MPRA Paper 16319, University Library of Munich, Germany, revised 10 Jun 2009.
    131. Gunther Schnabl, 2005. "International Capital Markets and Exchange Rate Stabilization in the CIS," International Finance 0505015, University Library of Munich, Germany.
    132. Ramayandi, Arief & Rawat, Umang & Tang, Hsiao Chink, 2014. "Can Low Interest Rates be Harmful: An Assessment of the Bank Risk-Taking Channel in Asia," Working Papers on Regional Economic Integration 123, Asian Development Bank.
    133. Schnabl, Gunther, 2005. "Der Festkurs als merkantilistische Handelspolitik : Chinas Währungs- und Geldpolitik im Umfeld globaler Ungleichgewichte," Tübinger Diskussionsbeiträge 291, University of Tübingen, School of Business and Economics.
    134. Andreas Hoffmann, 2014. "Zero-Interest Rate Policy and Unintended Consequences in Emerging Markets," ICER Working Papers 02-2014, ICER - International Centre for Economic Research.
    135. Frontczak, Robert & Schöbel, Rainer, 2009. "On modified Mellin transforms, Gauss-Laguerre quadrature, and the valuation of American call options," Tübinger Diskussionsbeiträge 320, University of Tübingen, School of Business and Economics.
    136. Stefan Eichler & Dominik Maltritz, 2011. "Stock Market‐Induced Currency Crises—A New Type of Twins," Review of Development Economics, Wiley Blackwell, vol. 15(2), pages 223-236, May.
    137. Vipin Arora & Rod Tyers & Ying Zhang, 2014. "Reconstructing the Savings Glut: The Global Implications of Asian Excess Saving," Economics Discussion / Working Papers 14-24, The University of Western Australia, Department of Economics.
    138. Kamps, Annette, 2006. "The euro as invoicing currency in international trade," Working Paper Series 665, European Central Bank.
    139. Avner Bar-Ilan & Nancy P. Marion, 2009. "A Macroeconomic Perspective on Reserve Accumulation," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 802-823, September.
    140. Kaltenbrunner, Annina & Nissanke, Machiko, 2009. "The Case for an Intermediate Exchange Rate Regime with Endogenizing Market Structures and Capital Mobility," WIDER Working Paper Series 029, World Institute for Development Economic Research (UNU-WIDER).
    141. Cheng, Wenli & Zhang, Dingsheng, 2012. "A monetary model of China–US trade relations," Economic Modelling, Elsevier, vol. 29(2), pages 233-238.
    142. Erdem Kilic & Veysel Ulusoy, 2015. "Evidence for Financial Contagion in Endogenous Volatile Periods," Review of Development Economics, Wiley Blackwell, vol. 19(1), pages 62-74, February.
    143. Kim, Woochan & Sung, Taeyoon, 2005. "What makes firms manage FX risk?," Emerging Markets Review, Elsevier, vol. 6(3), pages 263-288, September.
    144. Simrit Kaur & Aditya Vikram, 2013. "Economic impact of trade openness and exchange rate regimes: evidence from developing Asia," International Journal of Business and Emerging Markets, Inderscience Enterprises Ltd, vol. 5(4), pages 341-370.
    145. Maier, Ramona & Merz, Michael, 2008. "Credibility theory and filter theory in discrete and continuous time," Tübinger Diskussionsbeiträge 318, University of Tübingen, School of Business and Economics.
    146. Gunther Schnabl, 2007. "Exchange Rate Volatility and Growth in Emerging Europe and East Asia," CESifo Working Paper Series 2023, CESifo Group Munich.
    147. Gunther Schnabl, 2005. "The Russian Currency Basket: The Rising Role of the Euro for Russia’s Exchange Rate Policies," International Finance 0512005, University Library of Munich, Germany.
    148. Kang Chen & Chang Yee Kwan, 2015. "How are Exchange Rates Managed? Evidence of an Anchor-Based Heuristic," The World Economy, Wiley Blackwell, vol. 38(6), pages 1006-1014, June.
    149. Renu Kohli, 2015. "Capital Flows and Exchange Rate Volatility in India: How Crucial Are Reserves?," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 577-591, August.
    150. Volz, Ulrich, 2013. "RMB internationalisation and currency co-operation in East Asia," Working Papers 125, University of Leipzig, Faculty of Economics and Management Science.

  15. Ronald McKinnon & Gunther Schnabl, 2003. "Synchronized Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate," Working Papers 022003, Hong Kong Institute for Monetary Research.

    Cited by:

    1. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.
    2. Hager, Svenja & Schöbel, Rainer, 2006. "Deriving the dependence structure of portfolio credit derivatives using evolutionary algorithms," Tübinger Diskussionsbeiträge 300, University of Tübingen, School of Business and Economics.
    3. Bartosz Mackowiak, 2005. "What does the Bank of Japan do to East Asia?," SFB 649 Discussion Papers SFB649DP2005-059, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    4. Thorbecke, Willem, 2008. "Global imbalances, triangular trading patterns, and the yen/dollar exchange rate," Journal of the Japanese and International Economies, Elsevier, vol. 22(4), pages 503-517, December.
    5. Gunther Schnabl, 2006. "The Evolution of the East Asian Currency Baskets – Still Undisclosed and Changing," CESifo Working Paper Series 1873, CESifo Group Munich.
    6. Hyeon-seung Huh & Cyn-Young Park, 2013. "Examining the determinants of food prices in developing Asia," Working papers 2013rwp-62, Yonsei University, Yonsei Economics Research Institute.
    7. Ouyang, Alice Y. & Rajan, Ramkishen S. & Willett, Thomas D., 2010. "China as a reserve sink: The evidence from offset and sterilization coefficients," Journal of International Money and Finance, Elsevier, vol. 29(5), pages 951-972, September.
    8. Kearney, Colm & Muckley, Cal, 2008. "Can the traditional Asian US dollar peg exchange rate regime be extended to include the Japanese yen?," International Review of Financial Analysis, Elsevier, vol. 17(5), pages 870-885, December.
    9. Willem Thorbecke, 2011. "The Effect Of Exchange Rate Changes On Trade In East Asia," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 2(01), pages 85-102.
    10. Cheung, Yin-Wong & Chinn, Menzie D. & Qian, XingWang, 2014. "The structural behavior of China–US trade flows," BOFIT Discussion Papers 23/2014, Bank of Finland, Institute for Economies in Transition.
    11. Jun-ichi Shinkai & Akira Kohsaka, 2009. "Global Shocks and the Japanese Economy:Structural Changes in the 1990s," OSIPP Discussion Paper 09E008, Osaka School of International Public Policy, Osaka University.
    12. Ronald McKinnon & Gunther Schnabl, 2012. "China and Its Dollar Exchange Rate: A Worldwide Stabilising Influence?," The World Economy, Wiley Blackwell, vol. 35(6), pages 667-693, June.
    13. Schnabl, Gunther, 2003. "China: a stabilizing or deflationary influence in East Asia?The problem of conflicted virtue," Tübinger Diskussionsbeiträge 263, University of Tübingen, School of Business and Economics.
    14. Nagayasu, Jun, 2015. "Global and country-specific factors in real effective exchange rates," MPRA Paper 64217, University Library of Munich, Germany.
    15. Schnabl, Gunther, 2007. "Exchange rate volatility and growth in small open economies at the EMU periphery," Working Paper Series 773, European Central Bank.
    16. Eliane Cristina de Araújo, 2011. "Volatilidade Cambial eCrescimento Econômico: Teorias e Evidencias para Economias emDesenvolvimento e Emergentes (1980 e 2007)," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 105, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    17. Abdul Karim, Bakri & Abdul Majid, M. Shabri & Abdul Karim, Samsul Ariffin, 2009. "Financial Integration between Indonesia and Its Major Trading Partners," MPRA Paper 17277, University Library of Munich, Germany.
    18. Moneta, Fabio & Rüffer, Rasmus, 2009. "Business cycle synchronisation in East Asia," Journal of Asian Economics, Elsevier, vol. 20(1), pages 1-12, January.
    19. James Laurenceson, "undated". "China�s exchange rate policy: the case against abandoning the dollar peg," EAERG Discussion Paper Series 0105, School of Economics, University of Queensland, Australia.
    20. Schnabl, Gunther, 2006. "Capital markets and exchange rate stabilization in East Asia: Diversifying risk based on currency baskets," HWWI Research Papers 2-1, Hamburg Institute of International Economics (HWWI).
    21. Bakri Abdul Karim & M. Shabri Abd. Majid, 2010. "Does trade matter for stock market integration?," Studies in Economics and Finance, Emerald Group Publishing, vol. 27(1), pages 47-66, March.
    22. Yin-Wong Cheung & Jude Yuen, 2004. "An Output Perspective on a Northeast Asia Currency Union," CESifo Working Paper Series 1250, CESifo Group Munich.
    23. Rostek, Stefan & Schöbel, Rainer, 2006. "Risk preference based option pricing in a fractional Brownian market," Tübinger Diskussionsbeiträge 299, University of Tübingen, School of Business and Economics.
    24. Bong-Han Kim & Hyeongwoo Kim & Hong-Ghi Min, 2011. "Reassessing the Link between the Japanese Yen and Emerging Asian Currencies," Auburn Economics Working Paper Series auwp2011-05, Department of Economics, Auburn University.
    25. Nagayasu, Jun, 2013. "Interdependence in Real Effective Exchange Rates: Evidence from the Dynamic Hierarchical Factor Model," MPRA Paper 45955, University Library of Munich, Germany.
    26. Yin-Wong Cheung & Jude Yuen, 2005. "The Suitability Of A Greater China Currency Union," Pacific Economic Review, Wiley Blackwell, vol. 10(1), pages 83-103, February.
    27. Pitterle, Ingo & Steffen, Dirk, 2004. "Welfare Effects of Fiscal Policy under Alternative Exchange Rate Regimes : The Role of the Scale Variable of Money Demand," Tübinger Diskussionsbeiträge 284, University of Tübingen, School of Business and Economics.
    28. Gabriele Tondl & Iulia Traistaru-Siedschlag, 2006. "Regional growth cycle synchronisation with the Euro Area," Papers WP173, Economic and Social Research Institute (ESRI).
    29. Yin-Wong Cheung & Menzie Chinn & Xingwang Qian, 2016. "China–US trade flow behavior: the implications of alternative exchange rate measures and trade classifications," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(1), pages 43-67, February.
    30. McKinnon, Ronald & Liu, Zhao, 2013. "Modern Currency Wars: The United States versus Japan," ADBI Working Papers 437, Asian Development Bank Institute.
    31. Jouini, Jamel, 2015. "New empirical evidence from assessing financial market integration, with application to Saudi Arabia," Economic Modelling, Elsevier, vol. 49(C), pages 198-211.
    32. Zhibai, Zhang, 2012. "A Simple Model and Its Application in the Valuation of Five Asian Real Exchange Rates," MPRA Paper 40953, University Library of Munich, Germany.
    33. Nagayasu, Jun, 2013. "Co-movements in Real Effective Exchange Rates: Evidence from the Dynamic Hierarchical Factor Model," SIRE Discussion Papers 2013-66, Scottish Institute for Research in Economics (SIRE).
    34. Y.L. Cheung & Y.W. Cheung & K.C. Ng, 2003. "East Asian Equity Markets, Financial Crises, and the Japanese Currency," Working Papers 032003, Hong Kong Institute for Monetary Research.
    35. Moneta, Fabio & Rüffer, Rasmus, 2006. "Business cycle synchronisation in East Asia," Working Paper Series 671, European Central Bank.
    36. Chee-Heong Quah & Patrick M. Crowley, 2012. "China and the Dollar: An Optimum Currency Area View," Prague Economic Papers, University of Economics, Prague, vol. 2012(4), pages 391-411.
    37. Schnabl, Gunther, 2005. "International Capital Markets and Informal Dollar Standards in the CIS and East Asia," HWWA Discussion Papers 326, Hamburg Institute of International Economics (HWWA).
    38. Laurenceson, J. & Qin, F., 2005. "China's Exchange Rate Policy : The Case Against Abandoning the Dollar PEG," Discussion Paper 2005-70, Tilburg University, Center for Economic Research.
    39. Chmelarova, Viera & Schnabl, Gunther, 2006. "Exchange rate stabilization in developed and underdeveloped capital markets," Working Paper Series 636, European Central Bank.
    40. Ronald Ian McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency," CESifo Working Paper Series 4649, CESifo Group Munich.
    41. Kim, Bong-Han & Min, Hong-Ghi & McDonald, Judy & Hwang, Young-Soon, 2012. "Yen-synchronization of floating East Asian currencies: A regime-switching regression model and micro-structural analysis," Journal of the Japanese and International Economies, Elsevier, vol. 26(2), pages 221-232.
    42. Nagayasu, Jun, 2016. "Commonality and Heterogeneity in Real Effective Exchange Rates: Evidence from Advanced and Developing Countries," MPRA Paper 70078, University Library of Munich, Germany.
    43. Köpke, Nikola & Baten, Jörg, 2003. "The biological standard of living in Europe during the last two millennia," Tübinger Diskussionsbeiträge 265, University of Tübingen, School of Business and Economics.
    44. Gunther Schnabl, 2011. "The role of the chinese dollar peg for macroeconomic stability in China and the world economy," Global Financial Markets Working Paper Series 13-2010, Friedrich-Schiller-University Jena.
    45. Sánchez, Marcelo, 2009. "Characterising the inflation targeting regime in South Korea," Working Paper Series 1004, European Central Bank.
    46. Aggarwal, Raj & Muckley, Cal B., 2010. "Assessing co-ordinated Asian exchange rate regimes: Proposal for a possible move towards a common currency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(2), pages 149-165, April.
    47. Rahman, Mizanur, 2008. "The Impact of a Common Currency on East Asian Production Networks and China’s Exports Behavior," MPRA Paper 13931, University Library of Munich, Germany.
    48. Stadler, Manfred, 2003. "Innovation and growth: The role of labor-force qualification," Tübinger Diskussionsbeiträge 255, University of Tübingen, School of Business and Economics.
    49. Baten, Jörg & Wallusch, Jacek, 2003. "Market integration and disintegration of Poland and Gemany [Germany] in the 18th century," Tübinger Diskussionsbeiträge 268, University of Tübingen, School of Business and Economics.
    50. Gunther Schnabl, 2005. "International Capital Markets and Exchange Rate Stabilization in the CIS," International Finance 0505015, University Library of Munich, Germany.
    51. Schnabl, Gunther, 2005. "Der Festkurs als merkantilistische Handelspolitik : Chinas Währungs- und Geldpolitik im Umfeld globaler Ungleichgewichte," Tübinger Diskussionsbeiträge 291, University of Tübingen, School of Business and Economics.
    52. Simrit Kaur & Aditya Vikram, 2013. "Economic impact of trade openness and exchange rate regimes: evidence from developing Asia," International Journal of Business and Emerging Markets, Inderscience Enterprises Ltd, vol. 5(4), pages 341-370.
    53. Gunther Schnabl, 2007. "Exchange Rate Volatility and Growth in Emerging Europe and East Asia," CESifo Working Paper Series 2023, CESifo Group Munich.
    54. Slavov, Slavi T., 2008. "Measuring and modeling the effects of G-3 exchange rate fluctuations on small open economies: A natural experiment," Economic Systems, Elsevier, vol. 32(3), pages 253-273, September.

  16. Ronald McKinnon & Gunther Schnabl, 2003. "China: A Stabilizing or Deflationary Influence in East Asia? The Problem of Conflicted Virtue," Working Papers 03007, Stanford University, Department of Economics.

    Cited by:

    1. Hager, Svenja & Schöbel, Rainer, 2006. "Deriving the dependence structure of portfolio credit derivatives using evolutionary algorithms," Tübinger Diskussionsbeiträge 300, University of Tübingen, School of Business and Economics.
    2. Zaby, Alexandra K., 2009. "The propensity to patent in oligopolistic markets," Tübinger Diskussionsbeiträge 323, University of Tübingen, School of Business and Economics.
    3. Yalcin, Erdal, 2007. "The proximity-concentration trade-off in a dynamic framework," Tübinger Diskussionsbeiträge 312, University of Tübingen, School of Business and Economics.
    4. Ouyang, Alice Y. & Rajan, Ramkishen S. & Willett, Thomas D., 2010. "China as a reserve sink: The evidence from offset and sterilization coefficients," Journal of International Money and Finance, Elsevier, vol. 29(5), pages 951-972, September.
    5. Felbermayr, Gabriel & Toubal, Farid, 2006. "Cultural proximity and trade," Tübinger Diskussionsbeiträge 305, University of Tübingen, School of Business and Economics.
    6. Heger, Diana & Zaby, Alexandra K., 2009. "The propensity to patent with vertically differentiated products: An empirical investigation," Tübinger Diskussionsbeiträge 325, University of Tübingen, School of Business and Economics.
    7. Duo Qin & Xinhua He & Yimeng Liu, 2010. "Exchange Rate Misalignments: Historical Experience of Japan, Germany, Singapore and Taiwan Compared to China Today," Working Papers 667, Queen Mary University of London, School of Economics and Finance.
    8. Schüle, Tobias, 2006. "Creditor coordination with social learning and endogenous timing of credit decisions," Tübinger Diskussionsbeiträge 307, University of Tübingen, School of Business and Economics.
    9. Barry Eichengreen, 2008. "Should there be a coordinated response to the problem of global imbalances? Can there be one?," Working Papers 69, United Nations, Department of Economics and Social Affairs.
    10. Frontczak, Robert & Schöbel, Rainer, 2008. "Pricing American options with Mellin transforms," Tübinger Diskussionsbeiträge 319, University of Tübingen, School of Business and Economics.
    11. He, Xinhua & Qin, Duo & Liu, Yimeng, 2011. "Exchange rate misalignments : A comparison of China today against recent historical experiences of Japan, Germany, Singapore and Taiwan," BOFIT Discussion Papers 22/2011, Bank of Finland, Institute for Economies in Transition.
    12. Dymke, Björn M. & Walter, Andreas, 2006. "Insider trading in Germany: Do corporate insiders exploit inside information?," Tübinger Diskussionsbeiträge 309, University of Tübingen, School of Business and Economics.
    13. Rostek, Stefan & Schöbel, Rainer, 2006. "Risk preference based option pricing in a fractional Brownian market," Tübinger Diskussionsbeiträge 299, University of Tübingen, School of Business and Economics.
    14. Brandes, Julia & Schüle, Tobias, 2007. "IMF's assistance: Devil's kiss or guardian angel?," Tübinger Diskussionsbeiträge 310, University of Tübingen, School of Business and Economics.
    15. Pitterle, Ingo & Steffen, Dirk, 2004. "Welfare Effects of Fiscal Policy under Alternative Exchange Rate Regimes : The Role of the Scale Variable of Money Demand," Tübinger Diskussionsbeiträge 284, University of Tübingen, School of Business and Economics.
    16. Morris Goldstein, 2004. "Adjusting China's Exchange Rate Policies," Working Paper Series WP04-1, Peterson Institute for International Economics.
    17. Heger, Diana & Zaby, Alexandra K., 2009. "The propensity to patent with horizontally differentiated products: An empirical investigation," Tübinger Diskussionsbeiträge 324, University of Tübingen, School of Business and Economics.
    18. Ronald McKinnon & Gunther Schnabl, 2004. "The Return to Soft Dollar Pegging in East Asia. Mitigating Conflicted Virtue," International Finance 0406007, University Library of Munich, Germany, revised 07 Jul 2004.
    19. James R. Barth & Gerard Caprio Jr., 2007. "China's Changing Financial System: Can It Catch Up With, or Even Drive Growth," NFI Policy Briefs 2007-PB-05, Indiana State University, Scott College of Business, Networks Financial Institute.
    20. Köpke, Nikola & Baten, Jörg, 2003. "The biological standard of living in Europe during the last two millennia," Tübinger Diskussionsbeiträge 265, University of Tübingen, School of Business and Economics.
    21. Frontczak, Robert, 2009. "Valuing options in Heston's stochastic volatility model: Another analytical approach," Tübinger Diskussionsbeiträge 326, University of Tübingen, School of Business and Economics.
    22. Baten, Jörg & Wallusch, Jacek, 2003. "Market integration and disintegration of Poland and Gemany [Germany] in the 18th century," Tübinger Diskussionsbeiträge 268, University of Tübingen, School of Business and Economics.
    23. Schnabl, Gunther, 2005. "Der Festkurs als merkantilistische Handelspolitik : Chinas Währungs- und Geldpolitik im Umfeld globaler Ungleichgewichte," Tübinger Diskussionsbeiträge 291, University of Tübingen, School of Business and Economics.
    24. Frontczak, Robert & Schöbel, Rainer, 2009. "On modified Mellin transforms, Gauss-Laguerre quadrature, and the valuation of American call options," Tübinger Diskussionsbeiträge 320, University of Tübingen, School of Business and Economics.
    25. Akhand Akhtar Hossain, 2015. "Economic Management in a Volatile Environment: Monetary and Financial Issues by Ramkishen S. Rajan and Sasidaran Gopalan Palgrave Macmillan , London , 2015 Pp. xx+283. ISBN 9 78 137 37151-5," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 29(2), pages 103-106, November.
    26. Maier, Ramona & Merz, Michael, 2008. "Credibility theory and filter theory in discrete and continuous time," Tübinger Diskussionsbeiträge 318, University of Tübingen, School of Business and Economics.

  17. Rishi Goyal & Ronald McKinnon, 2002. "Japan's Negative Risk Premium in Interest Rates: The Liquidity Trap and Fall in Bank Lending," Working Papers 02006, Stanford University, Department of Economics.

    Cited by:

    1. Ronald McKinnon & Gunther Schnabl, 2003. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Working Papers 112003, Hong Kong Institute for Monetary Research.
    2. Ronald McKinnon & Gunther Schnabl, 2002. "Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China’s Stabilizing Role," Working Papers 02010, Stanford University, Department of Economics.

  18. Ronald McKinnon & Gunther Schnabl, 2002. "Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China’s Stabilizing Role," Working Papers 02010, Stanford University, Department of Economics.

    Cited by:

    1. Bartosz Mackowiak, 2005. "What does the Bank of Japan do to East Asia?," SFB 649 Discussion Papers SFB649DP2005-059, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    2. Mohamed Aslam, 2012. "Exchange Rate Policy in Developing Countries: The East Asian Experience," Chapters,in: Employment, Growth and Development, chapter 8 Edward Elgar Publishing.
    3. Jagjit S. Chadha & Lucio Sarno & Giorgio Valente, 2004. "Monetary Policy Rules, Asset Prices, and Exchange Rates," IMF Staff Papers, Palgrave Macmillan, vol. 51(3), pages 529-552, November.
    4. Ronald McKinnon & Gunther Schnabl, 2003. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Working Papers 112003, Hong Kong Institute for Monetary Research.
    5. Sarno, Lucio & Valente, Giorgio, 2006. "Deviations from purchasing power parity under different exchange rate regimes: Do they revert and, if so, how?," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 3147-3169, November.
    6. Shin-ichi Fukuda, 2002. "Post-crisis Exchange Rate Regimes in East Asia," CIRJE F-Series CIRJE-F-181, CIRJE, Faculty of Economics, University of Tokyo.
    7. Soyoung Kim & Sunghyun H. Kim, 2013. "International Capital Flows, Boom-Bust Cycles, And Business Cycle Synchronization In The Asia Pacific Region," Contemporary Economic Policy, Western Economic Association International, vol. 31(1), pages 191-211, January.
    8. Ronald McKinnon & Gunther Schnabl, 2003. "Synchronized Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate," Working Papers 022003, Hong Kong Institute for Monetary Research.
    9. Slavi T. Slavov, 2005. "Should small open economies in East Asia put all their eggs in one basket: the role of balance sheet effects," International Finance 0501001, University Library of Munich, Germany.
    10. Kian Teng Kwek & Kuan Nee Koay, 2006. "Exchange rate volatility and volatility asymmetries: an application to finding a natural dollar currency," Applied Economics, Taylor & Francis Journals, vol. 38(3), pages 307-323.
    11. Paul De Grauwe & Marianna Grimaldi, 2003. "Intervention in the Foreign Exchange Market in a Model with Noise Traders," Working Papers 162003, Hong Kong Institute for Monetary Research.
    12. Teo, Wing Leong, 2009. "Should East Asia's currencies be pegged to the yen? The role of invoice currency," Journal of the Japanese and International Economies, Elsevier, vol. 23(3), pages 283-308, September.
    13. Pomfret, Richard, 2005. "Sequencing trade and monetary integration: issues and application to Asia," Journal of Asian Economics, Elsevier, vol. 16(1), pages 105-124, February.
    14. Wang, Xi & Yang, Jiao-Hui & Wang, Kai-Li & Fawson, Christopher, 2017. "Dynamic information spillovers in intraregionally-focused spot and forward currency markets," Journal of International Money and Finance, Elsevier, vol. 71(C), pages 78-110.
    15. Kwack, Sung Y., 2005. "Exchange rate and monetary regime options for regional cooperation in East Asia," Journal of Asian Economics, Elsevier, vol. 16(1), pages 57-75, February.
    16. Kwack, Sung Yeung, 2004. "An optimum currency area in East Asia: feasibility, coordination, and leadership role," Journal of Asian Economics, Elsevier, vol. 15(1), pages 153-169, February.
    17. Shin-ichi Fukuda & Sanae Ohno, 2003. "Exchange Rate Regimes in East Asia after the Crisis: Implications from Intra-daily Data," CIRJE F-Series CIRJE-F-247, CIRJE, Faculty of Economics, University of Tokyo.
    18. Sinchan Mitra & Tara M. Sinclair, "undated". "Macroeconomic Fluctuations in Emerging Economies: An Unobserved Components Approach," MRG Discussion Paper Series 3911, School of Economics, University of Queensland, Australia.
    19. Pontines, Victor & Siregar, Reza, 2009. "Intervention index and exchange rate regimes: the cases of selected East-Asian economies," MPRA Paper 17138, University Library of Munich, Germany.
    20. Lean, Hooi Hooi & Teng, Kee Tuan, 2013. "Integration of world leaders and emerging powers into the Malaysian stock market: A DCC-MGARCH approach," Economic Modelling, Elsevier, vol. 32(C), pages 333-342.
    21. Richard Pomfret, 2003. "Formation and Dissolution of Monetary Unions: Evidence from Europe, and Lessons for Elsewhere," School of Economics Working Papers 2003-03, University of Adelaide, School of Economics.
    22. Henry Kim & Soyoung Kim & Yunjong Wang, 2005. "International Capital Flows and Boom-Bust Cycles in the Asia Pacific Region," Discussion Papers Series, Department of Economics, Tufts University 0506, Department of Economics, Tufts University.
    23. Hooi Hooi Lean & B. N. Ghosh, 2010. "Economic Integration in Asia: Quo Vadis Malaysia?," International Economic Journal, Taylor & Francis Journals, vol. 24(2), pages 237-248.

  19. Ronald I. McKinnon, 2001. "After the Crisis, The East Asian Dollar Standard Resurrected: An Interpretation of High Frequency Exchange Rate Pegging," Working Papers 042001, Hong Kong Institute for Monetary Research.

    Cited by:

    1. Chow, Hwee Kwan & Kim, Yoonbai, 2006. "Does greater exchange rate flexibility affect interest rates in post-crisis Asia?," Journal of Asian Economics, Elsevier, vol. 17(3), pages 478-493, June.
    2. Shu-ki Tsang, 2002. "Optimum Currency Area for Mainland HCina and Hong Kong? Empirical Tests," Working Papers 162002, Hong Kong Institute for Monetary Research.
    3. Eiji Ogawa, 2011. "Currency Baskets for East Asia," Chapters,in: Regional Integration, Economic Development and Global Governance, chapter 14 Edward Elgar Publishing.
    4. Marzovilla, Olga & Mele, Marco, 2010. "From dollar peg to basket peg:the experience of Kuwait in view of the GCC monetary unification," MPRA Paper 21605, University Library of Munich, Germany.
    5. Shu-ki Tsang, 2002. "Inflation Targeting in China?," Working Papers 192002, Hong Kong Institute for Monetary Research.
    6. Ronald McKinnon & Gunther Schnabl, 2003. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Working Papers 112003, Hong Kong Institute for Monetary Research.
    7. Ulrich Volz (ed.), 2011. "Regional Integration, Economic Development and Global Governance," Books, Edward Elgar Publishing, number 14259.
    8. Ronald McKinnon & Gunther Schnabl, 2002. "Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China’s Stabilizing Role," Working Papers 02010, Stanford University, Department of Economics.
    9. Alex Cukierman & Itay Goldstein & Yossi Spiegel, 2004. "The Choice of Exchange-Rate Regime and Speculative Attacks," Journal of the European Economic Association, MIT Press, vol. 2(6), pages 1206-1241, December.
    10. Teo, Wing Leong, 2009. "Should East Asia's currencies be pegged to the yen? The role of invoice currency," Journal of the Japanese and International Economies, Elsevier, vol. 23(3), pages 283-308, September.
    11. Taguchi, Hiroyuki, 2009. "The real effective exchange rate and trade balance in selected ASEAN countries," MPRA Paper 63216, University Library of Munich, Germany.
    12. Kwack, Sung Y., 2005. "Exchange rate and monetary regime options for regional cooperation in East Asia," Journal of Asian Economics, Elsevier, vol. 16(1), pages 57-75, February.
    13. Chow, Hwee Kwan & Kim, Yoonbai & Sun, Wei, 2007. "Characterizing exchange rate policy in East Asia: A reconsideration," Journal of Asian Economics, Elsevier, vol. 18(3), pages 448-465, June.
    14. Eiji Ogawa & Michiru Sakane, 2006. "The Chinese Yuan after the Chinese Exchange Rate System Reform," Discussion papers 06019, Research Institute of Economy, Trade and Industry (RIETI).
    15. Juthathip Jongwanich, 2008. "Real exchange rate overvaluation and currency crisis: evidence from Thailand," Applied Economics, Taylor & Francis Journals, vol. 40(3), pages 373-382.
    16. Oya Celasun, 2003. "Exchange Rate Regime Considerations in an Oil Economy; The Case of the Islamic Republic of Iran," IMF Working Papers 03/26, International Monetary Fund.
    17. Juthathip Jongwanich, 2006. "Exchange Rate Regimes, Capital Account Opening and Real Exchange Rates: Evidence from Thailand," Departmental Working Papers 2006-01, The Australian National University, Arndt-Corden Department of Economics.

  20. Ronald McKinnon, 2001. "The International Dollar Standard and Sustainability of the U.S. Current Account Deficit," Working Papers 01013, Stanford University, Department of Economics.

    Cited by:

    1. Yan, Ho-don, 2007. "Does capital mobility finance or cause a current account imbalance?," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(1), pages 1-25, March.
    2. Joshua E. Greene & Magda E. Kandil, 2002. "The Impact of Cyclical Factors on the U. S. Balance of Payments," IMF Working Papers 02/45, International Monetary Fund.
    3. Dimitris K. Christopoulos & Miguel León-Ledesma, 2004. "Current Account Sustainability in the US: What Do We Really Know About It?," Studies in Economics 0412, School of Economics, University of Kent.
    4. Fabian Lindner, 2014. "Haben die knappen Weltersparnisse die US-Immobilienblase finanziert?," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 40(1), pages 33-61.
    5. Ronald I. McKinnon, 2004. "Optimum Currency Areas and Key Currencies: Mundell I versus Mundell II," Journal of Common Market Studies, Wiley Blackwell, vol. 42(4), pages 689-715, November.
    6. Joshua Aizenman & Nancy P. Marion, 2002. "The high demand for international reserves in the Far East: what's going on?," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    7. Ogawa, Eiji & Kudo, Takeshi, 2007. "Asymmetric responses of East Asian currencies to the US dollar depreciation for reducing the US current account deficits," Journal of Asian Economics, Elsevier, vol. 18(1), pages 175-194, February.
    8. Chen, Shyh-Wei, 2011. "Are current account deficits really sustainable in the G-7 countries?," Japan and the World Economy, Elsevier, vol. 23(3), pages 190-201.
    9. Matsubayashi, Yoichi, 2005. "Are US current account deficits unsustainable?: Testing for the private and government intertemporal budget constraints," Japan and the World Economy, Elsevier, vol. 17(2), pages 223-237, April.
    10. Ho-don Yan & Cheng-lang Yang, 2012. "Are there different linkages of foreign capital inflows and the current account between industrial countries and emerging markets?," Empirical Economics, Springer, vol. 43(1), pages 25-54, August.
    11. Eiji Ogawa & Takeshi Kudo, 2007. "Possible depreciation of the US dollar for unsustainable current account deficit in the United States," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(4), pages 24-30, January.
    12. Cheng, Wenli & Zhang, Dingsheng, 2012. "A monetary model of China–US trade relations," Economic Modelling, Elsevier, vol. 29(2), pages 233-238.
    13. Heinz-Peter Spahn, 2004. "Stabilität und Staatsschulden: die europäische Wirtschaftspolitik in der strategischen Sackgasse," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 73(3), pages 429-444.
    14. Akbar Komijani & Hossein Tavakolian, 2011. "The Composition of Foreign Reserves of the Central Banks of Selected Countries: Will the Euro Replace the Dollar?," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 1(2), pages 143-156, December.

  21. Ronald McKinnon, 2000. "Mundell, the Euro, and Optimum Currency Areas," Working Papers 00009, Stanford University, Department of Economics.

    Cited by:

    1. Costas N. Kanellopoulos, 2012. "The Size and structure of uninsured employment," Economic Bulletin, Bank of Greece, issue 37, pages 23-41, December.
    2. Klaus Desmet, 2002. "Asymmetric Shocks, Risk Sharing, and the Latter Mundell," Working Papers 0222, Banco de España;Working Papers Homepage.
    3. Fegheh Majidi , Ali, 2014. "Determinants of the Choice of Exchange Rate Regimes in OIC Countries," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 9(3), pages 85-118, April.
    4. Heinz Handler, 2013. "The Eurozone: Piecemeal Approach to an Optimum Currency Area," WIFO Working Papers 446, WIFO.
    5. Horvath, Roman & Komarek, Lubos, 2002. "Optimum Currency Area Theory: A Framework for Discussion about Monetary Integration," Economic Research Papers 269460, University of Warwick - Department of Economics.
    6. Kleczka, Mitja, 2015. "Monetary Policy, Fiscal Policy, and Secular Stagnation at the Zero Lower Bound. A View on the Eurozone," MPRA Paper 67228, University Library of Munich, Germany.
    7. Robert A. Mundell, 2003. "Une théorie des zones monétaires optimales suivi de : Le paradoxe de Mundell par Agnès Bénassy-Quéré," Revue Française d'Économie, Programme National Persée, vol. 18(2), pages 3-33.
    8. Rokas Bancevičius, 2011. "New EU member states and the Euro: economic readiness, benefits and costs," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 38(4), pages 461-480, November.
    9. Petros M. Migiakis, 2012. "Reviewing the proposals for common bond issuances by the euro-area sovereign under a long-term perspective," Economic Bulletin, Bank of Greece, issue 37, pages 43-54, December.
    10. Fabio Masini, 2014. "A history of the theories on Optimum Currency Areas," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(6), pages 1015-1038, December.
    11. Marek Dabrowski, 2005. "A Strategy for EMU Enlargement," CASE Network Studies and Analyses 0290, CASE-Center for Social and Economic Research.
    12. Minford, Patrick, 1995. "Other people's money: Cash-in-advance microfoundations for optimal currency areas," Journal of International Money and Finance, Elsevier, vol. 14(3), pages 427-440, June.
    13. Zacharias Bragoudakis & Dimitrios Sideris, 2012. "Do retail gasoline prices adjust symmetrically to crude oil price changes? the case of the Greek oil market," Economic Bulletin, Bank of Greece, issue 37, pages 7-21, December.

  22. Ronald McKinnon & Kenichi Ohno, 2000. "The Foreign Exchange Orgins of Japan's Economic Slump and Low Interest Liquidity Trap," Working Papers 00010, Stanford University, Department of Economics.

    Cited by:

    1. Kenji Nishizaki & Toshitaka Sekine & Yoichi Ueno, 2014. "Chronic Deflation in Japan," Asian Economic Policy Review, Japan Center for Economic Research, vol. 9(1), pages 20-39, January.
    2. Duo Qin & Xinhua He & Yimeng Liu, 2010. "Exchange Rate Misalignments: Historical Experience of Japan, Germany, Singapore and Taiwan Compared to China Today," Working Papers 667, Queen Mary University of London, School of Economics and Finance.
    3. C.A. Ullersma, 2001. "The Zero Lower Bound on Nominal Interest Rates and Monetary Policy Effectiveness: a Survey," MEB Series (discontinued) 2001-9, Netherlands Central Bank, Monetary and Economic Policy Department.
    4. He, Xinhua & Qin, Duo & Liu, Yimeng, 2011. "Exchange rate misalignments : A comparison of China today against recent historical experiences of Japan, Germany, Singapore and Taiwan," BOFIT Discussion Papers 22/2011, Bank of Finland, Institute for Economies in Transition.
    5. Taiji Harashima, 2004. "A More Realistic Endogenous Time Preference Model and the Slump in Japan," Macroeconomics 0402015, University Library of Munich, Germany, revised 09 Feb 2004.
    6. Ronald McKinnon & Gunther Schnabl, 2003. "Synchronized Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate," Working Papers 022003, Hong Kong Institute for Monetary Research.
    7. Rishi Goyal & Ronald McKinnon, 2002. "Japan's Negative Risk Premium in Interest Rates: The Liquidity Trap and Fall in Bank Lending," Working Papers 02006, Stanford University, Department of Economics.
    8. Salah A. Nusair & Khalid M. Kisswani, 2015. "Asian Real Exchange Rates And Oil Prices: A Cointegration Analysis Under Structural Breaks," Bulletin of Economic Research, Wiley Blackwell, vol. 67(S1), pages 1-25, December.
    9. Lynn Elaine Browne, 2001. "Does Japan offer any lessons for the United States?," New England Economic Review, Federal Reserve Bank of Boston, pages 3-18.
    10. Qin, Duo & He, Xinhua, 2013. "Globalisation effect on inflation in the Great Moderation era: New evidence from G10 countries," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 7, pages 1-32.

  23. Ronald I. McKinnon, 1999. "Euroland and East Asia in a Dollar-Based International Monetary System: Mundell Revisited," Working Papers 99020, Stanford University, Department of Economics.

    Cited by:

    1. Tuan Khai Vu, 2015. "Exchange Rate Regimes and the Sources of Real Exchange Rate Fluctuations: Evidence from East Asia," Discussion Papers 31, Meisei University, School of Economics.
    2. Gerardo ESQUIVEL & Felipe LARRAIN B., 2002. "The Impact Of G-3 Exchange Rate Volatility On Developing Countries," G-24 Discussion Papers 16, United Nations Conference on Trade and Development.
    3. Mashkoor, Asim & Ahmed, Ovais & Herani, Dr. Gobin, 2015. "The relationship between Foreign Currency trading and Economic Development: A case Study of Pakistan," MPRA Paper 64482, University Library of Munich, Germany.

  24. Ronald I. McKinnon & Huw Pill, 1999. "Exchange Rate Regimes for Emerging Markets: Moral Hazard and International Overborrowing," Working Papers 99018, Stanford University, Department of Economics.

    Cited by:

    1. Aaron Tornell & Frank Westermann & Lorenza Martinez, 2004. "The Positive Link Between Financial Liberalization, Growth and Crises," NBER Working Papers 10293, National Bureau of Economic Research, Inc.
    2. Ajit Singh, 2003. "Capital Account Liberalization, Free Long-Term Capital Flows, Financial Crises and Economic Development," Eastern Economic Journal, Eastern Economic Association, vol. 29(2), pages 191-216, Spring.
    3. Shang-Jin Wei & Yi Wu, 2001. "Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises," NBER Working Papers 8187, National Bureau of Economic Research, Inc.
    4. Nakatani, Ryota, 2018. "Adjustment to negative price shocks by a commodity exporting economy: Does exchange rate flexibility resolve a balance of payments crisis?," Journal of Asian Economics, Elsevier, vol. 57(C), pages 13-35.
    5. Perkins, J.O.N., 2000. "Some Current Issues of Interational Monetary Policy," Department of Economics - Working Papers Series 758, The University of Melbourne.
    6. Ronald McKinnon & Gunther Schnabl, 2003. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Working Papers 112003, Hong Kong Institute for Monetary Research.
    7. Martin, Philippe & Rey, Hélène, 2002. "Financial Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 3378, C.E.P.R. Discussion Papers.
    8. Ronald McKinnon & Gunther Schnabl, 2002. "Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China’s Stabilizing Role," Working Papers 02010, Stanford University, Department of Economics.
    9. Shang-Jin Wei, 2000. "Corruption, composition of capital flows, and currency crises," Policy Research Working Paper Series 2429, The World Bank.
    10. Aaron Tornell & Frank Westermann, 2002. "Boom-Bust Cycles in Middle Income Countries: Facts and Explanation," IMF Staff Papers, Palgrave Macmillan, vol. 49(Special i), pages 111-155.
    11. Ryota Nakatani, 2019. "Output Costs of Currency Crisis and Banking Crisis: Shocks, Policies and Cycles," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 61(1), pages 83-102, March.
    12. Ryota Nakatani, 2017. "External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea," IMF Working Papers 17/267, International Monetary Fund.
    13. Philippe Martin & Hélène Rey, 2006. "Globalization and Emerging Markets: With or Without Crash?," Sciences Po publications info:hdl:2441/9261, Sciences Po.
    14. Cook, David & Devereux, Michael B., 2006. "Capital inflows, fiscal discretion, and exchange rate policy," European Economic Review, Elsevier, vol. 50(8), pages 1975-1992, November.
    15. Yue Ma, 2009. "External Shocks, Balance Sheet Contagion, and Speculative Attack on the Pegged Exchange Rate System," Review of Development Economics, Wiley Blackwell, vol. 13(1), pages 87-98, February.
    16. Peter Montiel, 2014. "Capital Flows: Issues and Policies," Open Economies Review, Springer, vol. 25(3), pages 595-633, July.
    17. Adamcik, Santiago, 2008. "Sobre la Elección de Regímenes de Tipo de Cambio en Economías Emergentes
      [On Choosing an Exchange Rate Regimes in Emerging Economies]
      ," MPRA Paper 9329, University Library of Munich, Germany.
    18. Pablo Bustelo Gómez, 2004. "Capital Flows and Financial Crises: A Comparative Analysis of East Asia (1997-97) and Argentina (2001-02)," Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales 04-17, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales.
    19. Bucevska, Vesna, 2011. "An anaylsis of financial crisis by an early warning system model: The Case of the EU candidate countries," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 4(1), pages 1-14, January.
    20. Spadafora, Francesco, 2003. "Official bailouts, moral hazard and the 'speciality' of the international interbank market," Emerging Markets Review, Elsevier, vol. 4(2), pages 165-196, June.
    21. Fratzscher, Marcel & Bussière, Matthieu, 2004. "Financial openness and growth: short-run gain, long-run pain?," Working Paper Series 348, European Central Bank.
    22. McKinnon, Ronald I., 2001. "The problem of dollar encroachment in emerging markets," Journal of Policy Modeling, Elsevier, vol. 23(3), pages 301-319, April.
    23. Clara Garcia, 2004. "Capital Inflows, Policy Responses, and Their Ill Consequences: Thailand, Malaysia, and Indonesia in the Decade Before the Crises," Working Papers wp81, Political Economy Research Institute, University of Massachusetts at Amherst.
    24. Graham Bird & Ramkishen Rajan, 2002. "Optimal currency baskets and the third currency phenomenon: exchange rate policy in Southeast Asia," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(8), pages 1053-1073.
    25. Rungrudee Suetorsak, 2006. "Banking crisis in east asia: A micro/macro perspective," Review of Quantitative Finance and Accounting, Springer, vol. 26(3), pages 219-248, May.
    26. Jeon, Bang Nam & Zhang, Hongfang, 2007. "A currency union or an exchange rate union: evidence from Northeast Asia," MPRA Paper 36622, University Library of Munich, Germany, revised 01 Feb 2012.
    27. Herman Kamil, 2012. "How Do Exchange Rate Regimes Affect Firms' Incentives to Hedge Currency Risk? Micro Evidence for Latin America," IMF Working Papers 12/69, International Monetary Fund.
    28. Miller, Victoria & Vallée, Luc, 2010. "The size of banking crises in credible fixed exchange rate regimes," Journal of International Money and Finance, Elsevier, vol. 29(7), pages 1226-1236, November.
    29. Prasanna Gai, 2012. "Discussion of Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit," RBA Annual Conference Volume,in: Alexandra Heath & Frank Packer & Callan Windsor (ed.), Property Markets and Financial Stability Reserve Bank of Australia.
    30. Peter J. Montiel, 2013. "Capital Flows: Issues and Policies," IDB Publications (Working Papers) 4624, Inter-American Development Bank.
    31. Aaron Tornell, 2003. "Liberalization, Growth and Financial Crises (October 2003)," UCLA Economics Online Papers 276, UCLA Department of Economics.
    32. McKinnon, Ronald I., 2000. "On the periphery of the international dollar standard: Canada, Latin America, and East Asia," The North American Journal of Economics and Finance, Elsevier, vol. 11(2), pages 105-121, December.

  25. Ronald I. McKinnon & Huw Pill, 1998. "International Overborrowing: A Decomposition of Credit and Currency Risks," Working Papers 98004, Stanford University, Department of Economics.

    Cited by:

    1. Aaron Tornell, 2004. "Banks, Bailout Guarantees, and Risky Debt," NBER Chapters,in: Governance, Regulation, and Privatization in the Asia-Pacific Region, NBER East Asia Seminar on Economics, Volume 12, pages 425-456 National Bureau of Economic Research, Inc.
    2. Ramkishen Rajan, 2010. "Sand in the Wheels of International Finance: Revisiting the Debate in Light of the East Asian Mayhem," Working Papers id:2686, eSocialSciences.
    3. Jesús Muñoz & P. Nicholas Snowden, 2006. "Floating without flotations-the exchange rate and the Mexican stock market: 1995-2001," Journal of International Development, John Wiley & Sons, Ltd., vol. 18(3), pages 299-318.
    4. Karatas, B., 2014. "Financial crisis and monetary policy," Other publications TiSEM 41e463f0-e122-4379-8db5-6, Tilburg University, School of Economics and Management.
    5. McKinnon, Ronald I & Pill, Huw, 1999. "Exchange-Rate Regimes for Emerging Markets: Moral Hazard and International Overborrowing," Oxford Review of Economic Policy, Oxford University Press, vol. 15(3), pages 19-38, Autumn.
    6. Claessens, Stijn & Kose, Ayhan, 2013. "Financial Crises: Explanations, Types, and Implications," CEPR Discussion Papers 9329, C.E.P.R. Discussion Papers.
    7. Olivier D Jeanne, 2003. "Why Do Emerging Economies Borrow in Foreign Currency?," IMF Working Papers 03/177, International Monetary Fund.
    8. Claessens, Stijn & Klingebiel, Daniela & Schmukler, Sergio, 2003. "Government Bonds in Domestic and Foreign Currency: The Role of Macroeconomic and Institutional Factors," CEPR Discussion Papers 3789, C.E.P.R. Discussion Papers.
    9. Ronald I. McKinnon, 1999. "Exchange rate co-ordination for surmounting the East Asian currency crises," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(1), pages 95-106.
    10. Brahim Gaies & Stéphane Goutte & Khaled Guesmi, 2019. "Banking Crises in Developing Countries-What Crucial Role of Exchange Rate Stability and External Liabilities?," Working Papers hal-01968084, HAL.
    11. Keskinsoy, Bilal, 2017. "Taxi, Takeoff and Landing: Behavioural Patterns of Capital Flows to Emerging Markets," MPRA Paper 78129, University Library of Munich, Germany.
    12. Rajeswari Sengupta, 2014. "Firm dollar debt and central bank dollar reserves: Empirical evidence from Latin America," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2014-013, Indira Gandhi Institute of Development Research, Mumbai, India.
    13. Martin Schneider & Aaron Tornell, 2004. "Balance Sheet Effects, Bailout Guarantees and Financial Crises," Review of Economic Studies, Oxford University Press, vol. 71(3), pages 883-913.
    14. Nicolas Berman & Antoine Berthou, 2009. "Financial Market Imperfections and the Impact of Exchange Rate Movements on Exports," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00650665, HAL.
    15. Chen, Nan-Kuang & Chu, Hsiao-Lei, 2003. "Collateral value and forbearance lending," LSE Research Online Documents on Economics 20004, London School of Economics and Political Science, LSE Library.
    16. Golder, Stefan M., 1999. "Precautionary credit lines: A means to contain contagion in financial markets?," Kiel Discussion Papers 341, Kiel Institute for the World Economy (IfW).
    17. Machiko Nissanke & Howard Stein, 2003. "Financial Globalization and Economic Development: Toward an Institutional Foundation," Eastern Economic Journal, Eastern Economic Association, vol. 29(2), pages 287-308, Spring.
    18. Anton Korinek, 2011. "The New Economics of Capital Controls Imposed for Prudential Reasons+L4888," IMF Working Papers 11/298, International Monetary Fund.
    19. Annina Kaltenbrunner & Juan Pablo Painceira, 2016. "International and Domestic Financialisation in Middle Income Countries; The Brazilian Experience," Working papers wpaper146, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    20. Jane Sneddon Little & Giovanni P. Olivei, 1999. "Why the interest in reform?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 43(Jun), pages 41-97.
    21. Zvika Neeman & Gerhard O. Orosel, 2000. "Credits, Crises, and Capital Controls: A Microeconomic Analysis," Boston University - Institute for Economic Development 100, Boston University, Institute for Economic Development.
    22. Michael B. Devereux, 2001. "Financial Constraints and Exchange Rate Flexibility in Emerging Market Economies," Working Papers 152001, Hong Kong Institute for Monetary Research.
    23. Beja, Edsel Jr., 2006. "Capital Flight and the Hollowing Out of the Philippine Economy in the Neoliberal Regime," MPRA Paper 4830, University Library of Munich, Germany.
    24. de la Torre, Augusto & Schmukler & Sergio L., 2004. "Coping with risk through mismatches : domestic and international financial contracts for emerging economies," Policy Research Working Paper Series 3212, The World Bank.
    25. Bengui, Julien & Nguyen, Ha, 2011. "Consumption baskets and currency choice in international borrowing," Policy Research Working Paper Series 5870, The World Bank.
    26. Jane Sneddon Little & Giovanni P. Olivei, 1999. "Why the interest in reforming the International Monetary System?," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 53-84.
    27. Zhanyun WU, 2018. "Research on the Mechanism of the Spatial Contagion of Global Financial Crises: From the Perspective of Pure Contagion," Chinese Journal of Urban and Environmental Studies (CJUES), World Scientific Publishing Co. Pte. Ltd., vol. 6(01), pages 1-16, March.
    28. Singh, Rajesh, 2009. "Asset prices and twin crises," Journal of International Money and Finance, Elsevier, vol. 28(1), pages 26-55, February.
    29. Michael Chui, 2002. "Leading indicators of balance-of-payments crises: a partial review," Bank of England working papers 171, Bank of England.
    30. Franklin Allen & Douglas Gale, 1998. "Bubbles and Crises The Economic Journal," Center for Financial Institutions Working Papers 98-01, Wharton School Center for Financial Institutions, University of Pennsylvania.
    31. Nicholas Snowden, 1999. "The international financial architecture after the Asian crisis: learning from Las Vegas?," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(1), pages 107-119.
    32. Patrick Artus, 2003. "Local Currency or Foreign Currency Debt?," Revue économique, Presses de Sciences-Po, vol. 54(5), pages 1013-1031.
    33. de la Torre, Augusto & Gozzi, Juan Carlos & Schmukler, Sergio L., 2006. "Financial development in Latin America : big emerging issues, limited policy answers," Policy Research Working Paper Series 3963, The World Bank.
    34. Victoria Miller & Luc Vallée, 2016. "Unconventional Bank Bailouts in Fixed Exchange Rate Regimes," Open Economies Review, Springer, vol. 27(1), pages 39-49, February.
    35. Giovanni Cozzi & Jan Toporowski, 2006. "The Balance Sheet Approach To Financial Crises In Emerging Markets," Working Papers 149, Department of Economics, SOAS, University of London, UK.
    36. Sebastjan Strasek & Timotej Jagric & Natasa Spes, 2007. "Emerging Economies Crises: Lessons from the 1990’," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 5(3), pages 289-304.
    37. Chang, Ha-Joon, 2000. "The Hazard of Moral Hazard: Untangling the Asian Crisis," World Development, Elsevier, vol. 28(4), pages 775-788, April.
    38. Karel Jansen, 2001. "Thailand, Financial Crisis And Monetary Policy," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 6(1), pages 124-152.
    39. Brahim Gaies & Stéphane Goutte & Khaled Guesmi, 2019. "Does Financial Globalization Still Spur Growth In Emerging And Developing Countries? Considering Exchange Rate Volatility'S Effects," Working Papers hal-01968082, HAL.
    40. Victoria Miller, 2014. "A Crisis Transmission Channel for Reserve Currency Countries: A Cautionary Tale," Open Economies Review, Springer, vol. 25(4), pages 809-818, September.
    41. Ramon Moreno, 1999. "Depreciation and recessions in East Asia," Economic Review, Federal Reserve Bank of San Francisco, pages 27-40.
    42. Bacha, Obiyathulla I., 1997. "The Asian Currency Crisis - A Fait Accompli?," MPRA Paper 12756, University Library of Munich, Germany.
    43. Aaron Tornell, 2003. "Soft Landings (February 2000), with Martin Schneider," UCLA Economics Online Papers 241, UCLA Department of Economics.
    44. Sharma, Anurag & Jha, Raghbendra, 2012. "Fiscal deficits, banking crises and policy reversal in a semi-open economy," Economic Modelling, Elsevier, vol. 29(2), pages 271-282.
    45. Iancu, Aurel, 2011. "Models of Financial System Fragility," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 230-256, March.
    46. Caprio Jr., Gerard, 1998. "Banking on crises : expensive lessons from recent financial crises," Policy Research Working Paper Series 1979, The World Bank.

  26. Ronald I. McKinnon, 1992. "Macroeconomic control in liberalizing Socialist economies: Asian and European parallels," Pacific Basin Working Paper Series 92-05, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Lal, Deepak, 1995. "India and China: Contrasts in economic liberalization?," World Development, Elsevier, vol. 23(9), pages 1475-1494, September.

  27. R McKinnon, 1991. "Financial Control in the Transition to a Market Economy," CEP Discussion Papers dp0040, Centre for Economic Performance, LSE.

    Cited by:

    1. Alexandru Minea & Patrick Villieu, 2007. "Long-Run Monetary and Fiscal Policy Trade-Off in an Endogenous Growth Model with Transaction Costs," Post-Print halshs-00371184, HAL.
    2. Lin He & Calum Turvey, 2009. "Financial repression in China's agricultural economy," China Agricultural Economic Review, Emerald Group Publishing, vol. 1(3), pages 260-274, May.
    3. Niels Hermes & Aljar Meesters, 2015. "Financial liberalization, financial regulation and bank efficiency: a multi-country analysis," Applied Economics, Taylor & Francis Journals, vol. 47(21), pages 2154-2172, May.
    4. Sasidaran Gopalan, 2015. "Financial Liberalization and Foreign Bank Entry in Emerging and Developing Economies: What Does the Literature Tell Us?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 6(02), pages 1-25.
    5. Kraft, Evan & Vodopivec, Milan, 1992. "How soft is the budget constraint for Yugoslav firms?," Journal of Comparative Economics, Elsevier, vol. 16(3), pages 432-455, September.
    6. Alexandru Minea & Patrick Villieu, 2010. "Financial Development, Institutional Quality and Maximizing-Growth Trade-Off in Government Finance," Post-Print hal-00488706, HAL.
    7. Alexandru MINEA & Patrick VILLIEU, 2010. "Développement Financier, Qualité Institutionnelle Et Croissance : Un Modèle Simple Avec Effets De Seuil," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 32, pages 31-58.

  28. Ronald McKinnon, "undated". "The East Asian Dollar Standard, Life after Death?," Working Papers 99017, Stanford University, Department of Economics.

    Cited by:

    1. Virginie Coudert & Cécile Couharde & Valérie Mignon, 2013. "Pegging emerging currencies in the face of dollar swings," Post-Print hal-01411740, HAL.
    2. Kearney, Colm & Muckley, Cal, 2008. "Can the traditional Asian US dollar peg exchange rate regime be extended to include the Japanese yen?," International Review of Financial Analysis, Elsevier, vol. 17(5), pages 870-885, December.
    3. Rashid, Abdul & Ling, Jeffrey, 2009. "Fundamentals and Exchange Rates: Evidence from ASEAN-5," MPRA Paper 22451, University Library of Munich, Germany.
    4. Dirk Engelmann & Jan Hanousek & Evzen Kocenda, 2004. "Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks (Currencies, Competition, and Clans)," Macroeconomics 0406003, University Library of Munich, Germany.
    5. Taguchi, Hiroyuki, 2003. "Exchange rate management and capital inflows in selected East Asian countries," MPRA Paper 63220, University Library of Munich, Germany.
    6. Virginie Coudert & Cécile Couharde & Valérie Mignon, 2010. "Exchange Rate Flexibility across Financial Crises," CEPN Working Papers hal-00845254, HAL.
    7. Taguchi, Hiroyuki, 2002. "Exchange rate management in selected East Asian countries after the financial crisis," MPRA Paper 63785, University Library of Munich, Germany.
    8. Ronald McKinnon & Gunther Schnabl, 2002. "Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China’s Stabilizing Role," Working Papers 02010, Stanford University, Department of Economics.
    9. WenShwo Fang & YiHao Lai & Stephen M. Miller, 2005. "Does Exchange Rate Risk Affect Exports Asymmetrically? Asian Evidence," Working papers 2005-09, University of Connecticut, Department of Economics.
    10. Ye, Min & Hutson, Elaine & Muckley, Cal, 2014. "Exchange rate regimes and foreign exchange exposure: The case of emerging market firms," Emerging Markets Review, Elsevier, vol. 21(C), pages 156-182.
    11. Davide Furceri & Annabelle Mourougane, 2009. "Financial Crises: Past Lessons and Policy Implications," OECD Economics Department Working Papers 668, OECD Publishing.
    12. Ronald McKinnon & Gunther Schnabl, 2003. "Synchronized Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate," Working Papers 022003, Hong Kong Institute for Monetary Research.
    13. Mishra, Ritesh Kumar & Sharma, Chandan, 2010. "Real exchange rate behavior and optimum currency area in East Asia: Evidence from Generalized Purchasing Power Parity," International Review of Financial Analysis, Elsevier, vol. 19(3), pages 205-213, June.
    14. Kearney, Colm & Muckley, Cal, 2007. "Reassessing the evidence of an emerging yen block in North and Southeast Asia," International Review of Economics & Finance, Elsevier, vol. 16(2), pages 255-271.
    15. Kawai, Masahiro & Takagi, Shinji, 2000. "Proposed strategy for a regional exchange rate arrangement in post-crisis East Asia," Policy Research Working Paper Series 2503, The World Bank.
    16. Michael Chui, 2002. "Leading indicators of balance-of-payments crises: a partial review," Bank of England working papers 171, Bank of England.
    17. Peter B. Kenen & Ellen E. Meade, 2006. "Monetary integration in East Asia," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    18. Kawai, Masahiro & Akiyama, Shigeru, 2000. "Implications of the currency crisis for exchange rate arrangements in emerging East Asia," Policy Research Working Paper Series 2502, The World Bank.
    19. John Williamson, 2001. "The Case for a Basket, Band and Crawl (BBC) Regime for East Asia," RBA Annual Conference Volume,in: David Gruen & John Simon (ed.), Future Directions for Monetary Policies in East Asia Reserve Bank of Australia.
    20. Masahiro Kawai & Shinji Takagi, 2012. "A Proposal for Exchange Rate Policy Coordination in East Asia," Chapters,in: Monetary and Currency Policy Management in Asia, chapter 9 Edward Elgar Publishing.
    21. Masahiro Kawai & Peter J. Morgan & Shinji Takagi (ed.), 2012. "Monetary and Currency Policy Management in Asia," Books, Edward Elgar Publishing, number 14414.
    22. Berdiev, Aziz N. & Chang, Chun-Ping, 2015. "Business cycle synchronization in Asia-Pacific: New evidence from wavelet analysis," Journal of Asian Economics, Elsevier, vol. 37(C), pages 20-33.
    23. Kwack, Sung Y., 2005. "Exchange rate and monetary regime options for regional cooperation in East Asia," Journal of Asian Economics, Elsevier, vol. 16(1), pages 57-75, February.
    24. Kwack, Sung Yeung, 2004. "An optimum currency area in East Asia: feasibility, coordination, and leadership role," Journal of Asian Economics, Elsevier, vol. 15(1), pages 153-169, February.
    25. Ramon Moreno & Reuven Glick, 2001. "Is money still useful for policy in East Asia?," Pacific Basin Working Paper Series 2001-12, Federal Reserve Bank of San Francisco.
    26. Pontines, Victor & Siregar, Reza, 2009. "Intervention index and exchange rate regimes: the cases of selected East-Asian economies," MPRA Paper 17138, University Library of Munich, Germany.
    27. Kawai, Masahiro, 2005. "East Asian economic regionalism: progress and challenges," Journal of Asian Economics, Elsevier, vol. 16(1), pages 29-55, February.
    28. Mansor H. IBRAHIM, 2007. "The Yen-Dollar Exchange Rate And Malaysian Macroeconomic Dynamics," The Developing Economies, Institute of Developing Economies, vol. 45(3), pages 315-338.
    29. Takuji Kinkyo, 2004. "The case for regional exchange rate arrangement in East Asia," Working Papers 141, Department of Economics, SOAS, University of London, UK.
    30. Shirono, Kazuko, 2008. "Real effects of common currencies in East Asia," Journal of Asian Economics, Elsevier, vol. 19(3), pages 199-212, June.

  29. Ronald I. McKinnon, "undated". "Exchange Rate Coordination for Surmounting the East Asian Currency Crises," Working Papers 98010, Stanford University, Department of Economics.

    Cited by:

    1. Benjamin Keddad, 2013. "Assessing Asian Exchange Rates Coordination under Regional Currency Basket System," Working Papers halshs-00862254, HAL.
    2. Benjamin Keddad, 2013. "Exchange rate coordination in Asia under regional currency basket systems," Economics Bulletin, AccessEcon, vol. 33(4), pages 2913-2929.
    3. Noel Gaston & Ahmed M. Khalid, 2010. "Globalization and Integration in the Asia-Pacific: Prospects and Risks," Chapters,in: Globalization and Economic Integration, chapter 1 Edward Elgar Publishing.
    4. Nicolas Schlotthauer, 1999. "Will the People's Republic of China trigger off the next Asian crisis?," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 34(3), pages 124-135, May.
    5. Woosik Moon & Yeongseop Rhee, 2012. "Asian Monetary Integration," Books, Edward Elgar Publishing, number 14191.
    6. Chan, Kenneth S. & Chao, Chi-Chur & Chou, Win Lin, 2002. "Trade similarities and contagion among the Asian crisis economies," Journal of Asian Economics, Elsevier, vol. 13(2), pages 271-283.

Articles

  1. Ronald McKinnon, 2015. "Hot Money Flows, Cycles in Primary Commodity Prices, and Financial Control in Developing Countries," Frontiers of Economics in China, Higher Education Press, vol. 10(2), pages 201-223, June. See citations under working paper version above.
  2. Ronald McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the RMB as an International Currency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 1-35, July.

    Cited by:

    1. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.
    2. Naoyuki Yoshino & Sahoko Kaji & Tamon Asonuma, 2014. "Dynamic Transition of Exchange Rate Regime in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 36-55, July.
    3. Tang, Bo, 2014. "Real Exchange Rate and Economic Growth in China: A Cointegrated VAR Approach," MPRA Paper 66087, University Library of Munich, Germany.
    4. Xue GAO & Hsu-Ling CHANG & Chi-Wei SU, 2018. "Does exchange rate always affect the number of inbound tourists significantly in China?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(614), S), pages 55-72, Spring.
    5. Gunther Schnabl, 2016. "Exchange Rate Regime, Financial Market Bubbles and Long-Term Growth in China: Lessons from Japan," CESifo Working Paper Series 5902, CESifo Group Munich.
    6. Hoffmann, Andreas & Schnabl, Gunther, 2016. "Monetary policies of industrial countries, emerging market credit cycles and feedback effects," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 855-873.
    7. Yoshino, Naoyuki & Asonuma, Tamon, 2017. "Optimal Dynamic Path during the Transition of Exchange Rate Regime: Analysis of the People’s Republic of China (PRC), Malaysia, and Singapore," ADBI Working Papers 765, Asian Development Bank Institute.
    8. Andreas Hoffmann & Gunther Schnabl, 2014. "Monetary Policies of Large Industrialised Countries, Emerging Market Credit Cycles and Feedback Effects," CESifo Working Paper Series 4723, CESifo Group Munich.
    9. Andreas Hoffmann & Gunther Schnabl, 2018. "Warum der frühe Ausstieg aus der finanziellen Repression lohnt
      [Why an Early Exit from Financial Repression is Worthwhile]
      ," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 98(7), pages 498-503, July.

  3. Ronald McKinnon, 2013. "Hot Money Flows, Commodity Price Cycles and Financial Repression in the USA and China: The Consequences of Near-zero US Interest Rates," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 21(4), pages 1-13, July.

    Cited by:

    1. Tong, Eric, 2017. "US monetary policy and global financial stability," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 466-485.

  4. McKinnon, Ronald, 2013. "The U.S. saving deficiency, current-account deficits, and deindustrialization: Implications for China," Journal of Policy Modeling, Elsevier, vol. 35(3), pages 449-458.

    Cited by:

    1. Rod TYERS, 2013. "China and Global Macroeconomic Interdependence," CAMA Working Papers 2013-34, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    2. Eberechukwu Uneze & Adedeji Adeniran, 2014. "Exploring Domestic Financing Options for Post-2015 Development Agenda in Selected Sub-Saharan African Countries," Southern Voice Occasional Paper 18, Southern Voice.

  5. Ronald McKinnon & Zhao Liu, 2013. "Zero Interest Rates in the United States Provoke World Monetary Instability and Constrict the US Economy," Review of International Economics, Wiley Blackwell, vol. 21(1), pages 49-56, February.

    Cited by:

    1. Fuertes, Ana-Maria & Phylaktis, Kate & Yan, Cheng, 2016. "Hot money in bank credit flows to emerging markets during the banking globalization era," Journal of International Money and Finance, Elsevier, vol. 60(C), pages 29-52.

  6. McKinnon, Ronald, 2012. "Carry trades, interest differentials, and international monetary reform," Journal of Policy Modeling, Elsevier, vol. 34(4), pages 549-567.

    Cited by:

    1. Miyakoshi, Tatsuyoshi & Shimada, Junji & Li, Kui-Wai, 2017. "The dynamic effects of quantitative easing on stock price: Evidence from Asian emerging markets, 2001–2016," International Review of Economics & Finance, Elsevier, vol. 49(C), pages 548-567.
    2. Kornkarun Cheewatrakoolpong & Somprawin Manprasert, 2015. "Trade Diversification and Crisis Transmission: A Case Study of Thailand," Asian Economic Journal, East Asian Economic Association, vol. 29(4), pages 385-408, December.
    3. Rakesh Mohan & Muneesh Kapur, 2014. "Monetary Policy Coordination and the Role of Central Banks," IMF Working Papers 14/70, International Monetary Fund.

  7. Ronald McKinnon & Gunther Schnabl, 2012. "China and Its Dollar Exchange Rate: A Worldwide Stabilising Influence?," The World Economy, Wiley Blackwell, vol. 35(6), pages 667-693, June.
    See citations under working paper version above.
  8. Ronald McKinnon, 2012. "The Fed as the Engine of Worldwide Inflation," Open Economies Review, Springer, vol. 23(1), pages 109-112, February.

    Cited by:

    1. Gunther Schnabl, 2012. "Monetary Policy Reform in a World of Central Banks," Global Financial Markets Working Paper Series 26-2012, Friedrich-Schiller-University Jena.

  9. Ronald I., McKinnon, 2011. "Beggar-thy-neighbor interest rate policies," Journal of Policy Modeling, Elsevier, vol. 33(5), pages 759-775, September.

    Cited by:

    1. Cizkowicz, Piotr & Rzonca, Andrzej, 2011. "Interest rates close to zero, post-crisis restructuring and natural interest rate," MPRA Paper 36989, University Library of Munich, Germany.
    2. Hoffmann, Andreas & Loeffler, Axel, 2013. "Low interest rate policy and the use of reserve requirements in emerging markets," Working Papers 120, University of Leipzig, Faculty of Economics and Management Science.

  10. Ronald McKinnon, 2011. "Worldwide Inflation and International Monetary Reform: Exchange Rates or Interest Rates?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 19(5), pages 1-16, September.

    Cited by:

    1. Fardoust, Shahrokh & Dhareshwar, Ashok, 2013. "Some thoughts on making long-term forecasts for the world economy," Policy Research Working Paper Series 6705, The World Bank.
    2. Mattias Vermeiren, 2013. "Foreign Exchange Accumulation and the Entrapment of Chinese Monetary Power: Towards a Balanced Growth Regime?," New Political Economy, Taylor & Francis Journals, vol. 18(5), pages 680-714, October.

  11. Ronald McKinnon, 2010. "Rehabilitating the unloved dollar standard," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 24(2), pages 1-18, November.

    Cited by:

    1. Anni Huang & Narayan Kundan Kishor, 2019. "The rise of dollar credit in emerging market economies and US monetary policy," The World Economy, Wiley Blackwell, vol. 42(2), pages 530-551, February.
    2. Andreas Hoffmann, 2014. "Zero-interest Rate Policy and Unintended Consequences in Emerging Markets," The World Economy, Wiley Blackwell, vol. 37(10), pages 1367-1387, October.
    3. Nicolas Cachanosky, 2014. "The Mises-Hayek business cycle theory, fiat currencies and open economies," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(3), pages 281-299, September.
    4. Cachanosky, Nicolás & Lewin, Peter, 2016. "An empirical application of the EVA® framework to business cycles," Review of Financial Economics, Elsevier, vol. 30(C), pages 60-67.
    5. Hoffmann, Andreas, 2012. "Did the Fed and ECB react asymmetrically with respect to asset market developments?," Working Papers 103, University of Leipzig, Faculty of Economics and Management Science.
    6. Ronald I., McKinnon, 2011. "Beggar-thy-neighbor interest rate policies," Journal of Policy Modeling, Elsevier, vol. 33(5), pages 759-775, September.
    7. Nicolás Cachanosky & Alexander W. Salter, 2017. "The view from Vienna: An analysis of the renewed interest in the Mises-Hayek theory of the business cycle," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 30(2), pages 169-192, June.
    8. Miguel Otero-Iglesias & Federico Steinberg, 2013. "Is the Dollar Becoming a Negotiated Currency? Evidence from the Emerging Markets," New Political Economy, Taylor & Francis Journals, vol. 18(3), pages 309-336, June.
    9. Andreas Hoffmann & Gunther Schnabl, 2011. "National Monetary Policy, Internatinal Economic Instability and Feeback Effects - An Overinvestment View," Global Financial Markets Working Paper Series 19-2011, Friedrich-Schiller-University Jena.
    10. Andreas Hoffmann, 2014. "Zero-Interest Rate Policy and Unintended Consequences in Emerging Markets," ICER Working Papers 02-2014, ICER - International Centre for Economic Research.
    11. Cachanosky, Nicolas, 2014. "The effects of U.S. monetary policy on Colombia and Panama (2002–2007)," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(3), pages 428-436.

  12. Ronald I. McKinnon, 2010. "China in Africa: The Washington Consensus versus the Beijing Consensus," International Finance, Wiley Blackwell, vol. 13(3), pages 495-506, Winter.

    Cited by:

    1. Kearney, Colm, 2012. "Emerging markets research: Trends, issues and future directions," Emerging Markets Review, Elsevier, vol. 13(2), pages 159-183.

  13. Ronald McKinnon & Gunther Schnabl, 2009. "The Case for Stabilizing China's Exchange Rate: Setting the Stage for Fiscal Expansion," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(1), pages 1-32.

    Cited by:

    1. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.
    2. Schnabl, Gunther & Freitag, Stephan, 2009. "An asymmetry matrix in global current accounts," Working Papers 76, University of Leipzig, Faculty of Economics and Management Science.
    3. Christopher Garroway & Burcu Hacibedel & Helmut Reisen & Edouard Turkisch, 2012. "The Renminbi and Poor‐country Growth," The World Economy, Wiley Blackwell, vol. 35(3), pages 273-294, March.
    4. Gunther Schnabl & Stephan Freitag, 2012. "Determinants of Global and Intra-European Imbalances," Global Financial Markets Working Paper Series 25-2011, Friedrich-Schiller-University Jena.
    5. Ronald McKinnon & Gunther Schnabl, 2012. "China and Its Dollar Exchange Rate: A Worldwide Stabilising Influence?," The World Economy, Wiley Blackwell, vol. 35(6), pages 667-693, June.
    6. Giannellis, Nikolaos & Papadopoulos, Athanasios P., 2016. "Intra-national and international spillovers between the real economy and the stock market: The case of China," The Journal of Economic Asymmetries, Elsevier, vol. 14(PA), pages 78-92.
    7. Menkhoff, Lukas, 2012. "Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies," Hannover Economic Papers (HEP) dp-498, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    8. Gunther Schnabl, 2012. "Monetary Policy Reform in a World of Central Banks," Global Financial Markets Working Paper Series 26-2012, Friedrich-Schiller-University Jena.
    9. Luis A. Gil-Alana & Jiang Liang, 2011. "The PPP hypothesis in the US/China relationship. Fractional integration, time variation and data frequency," Faculty Working Papers 13/11, School of Economics and Business Administration, University of Navarra.
    10. Schnabl, Gunther, 2013. "The global move into the zero interest rate and high debt trap," Working Papers 121, University of Leipzig, Faculty of Economics and Management Science.
    11. McKinnon, Ronald, 2012. "Carry trades, interest differentials, and international monetary reform," Journal of Policy Modeling, Elsevier, vol. 34(4), pages 549-567.
    12. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2013. "Limits of Monetary Policy Autonomy and Exchange Rate Flexibility by East Asian Central Banks," Global Financial Markets Working Paper Series 48-2013, Friedrich-Schiller-University Jena.
    13. Boysen-Hogrefe, Jens & Gern, Klaus-Jürgen & Jannsen, Nils, 2009. "Global imbalances after the financial crisis," Open Access Publications from Kiel Institute for the World Economy 32857, Kiel Institute for the World Economy (IfW).
    14. Knight, John & Wang, Wei, 2011. "China's macroeconomic imbalances : causes and consequences," BOFIT Discussion Papers 15/2011, Bank of Finland, Institute for Economies in Transition.
    15. Jörg Asmussen & Gunther Schnabl, 2011. "Umbruch im Weltwährungssystem: Sollte die Zeit freier Wechselkurse beendet werden?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(07), pages 03-09, April.
    16. Yi David Wang, 2010. "Anomaly in China's Dollar-RMB Forward Market," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 18(2), pages 96-120.
    17. Hoffmann, Andreas, 2009. "An Overinvestment Cycle in Central and Eastern Europe?," MPRA Paper 15668, University Library of Munich, Germany.
    18. Kishor Sharma & Wei Wang, 2014. "Foreign Investment and Vertical Specialisation: An Analysis of Emerging Trends in Chinese Exports," Proceedings of Economics and Finance Conferences 0401580, International Institute of Social and Economic Sciences.
    19. Gunther Schnabl & Stephan Freitag, 2012. "Reverse Causality in Global and Intra-European Imbalances," Review of International Economics, Wiley Blackwell, vol. 20(4), pages 674-690, September.
    20. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2012. "Limits of Monetary Policy Autonomy by East Asian Debtor Central Banks," CESifo Working Paper Series 3742, CESifo Group Munich.
    21. Ronald I., McKinnon, 2011. "Beggar-thy-neighbor interest rate policies," Journal of Policy Modeling, Elsevier, vol. 33(5), pages 759-775, September.
    22. Kristina Spantig, 2012. "International monetary policy spillovers in an asymmetric world monetary system - The United States and China," Global Financial Markets Working Paper Series 2012-33, Friedrich-Schiller-University Jena.
    23. Ronald McKinnon, 2013. "Hot Money Flows, Commodity Price Cycles and Financial Repression in the USA and China: The Consequences of Near-zero US Interest Rates," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 21(4), pages 1-13, July.
    24. Luigi Bonatti & Andrea Fracasso, 2016. "Modelling The Transition Towards The Renminbi'S Full Convertibility: Implications For China'S Growth," Bulletin of Economic Research, Wiley Blackwell, vol. 68(S1), pages 146-170, December.
    25. Ronald McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the RMB as an International Currency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 1-35, July.
    26. Meixing Dai, 2011. "Motivations and strategies for a real revaluation of the Yuan," Working Papers of BETA 2011-23, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    27. Chee-Heong Quah & Patrick M. Crowley, 2012. "China and the Dollar: An Optimum Currency Area View," Prague Economic Papers, University of Economics, Prague, vol. 2012(4), pages 391-411.
    28. Ronald Ian McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency," CESifo Working Paper Series 4649, CESifo Group Munich.
    29. Gunther Schnabl & Franziska Schobert, 2009. "Global Asymmetries In Monetary Policy Operations: Debtor Central Banks Of The Mena Region," Manchester School, University of Manchester, vol. 77(s1), pages 85-107, September.
    30. Bonatti, Luigi & Fracasso, Andrea, 2014. "Modeling the Transition Towards Renminbi's Full Convertibility: Implications for China’s Growth," MPRA Paper 54129, University Library of Munich, Germany.
    31. Gunther Schnabl, 2011. "The role of the chinese dollar peg for macroeconomic stability in China and the world economy," Global Financial Markets Working Paper Series 13-2010, Friedrich-Schiller-University Jena.
    32. Robert Dixon & Zhichao Zhang & Yang Dai, 2016. "Exchange Rate Flexibility in China: Measurement, Regime Shifts and Driving Forces of Change," Review of International Economics, Wiley Blackwell, vol. 24(5), pages 875-892, November.
    33. Ansgar Belke & Gunther Schnabl, 2015. "Exchange Rate Challenges in Emerging Markets and Developing Countries—Introduction," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 449-454, August.
    34. Boysen-Hogrefe, Jens & Gern, Klaus-Jürgen & Jannsen, Nils, 2009. "Will global imbalances decrease or even increase?," Open Access Publications from Kiel Institute for the World Economy 32967, Kiel Institute for the World Economy (IfW).
    35. James Xiaohe Zhang, 2011. "RMB Appreciation or Fiscal Stimulus, and their Policy Implications," Chapters,in: China’s Economy in the Post-WTO Environment, chapter 9 Edward Elgar Publishing.
    36. Andreas Hoffmann & Gunther Schnabl, 2011. "National Monetary Policy, Internatinal Economic Instability and Feeback Effects - An Overinvestment View," Global Financial Markets Working Paper Series 19-2011, Friedrich-Schiller-University Jena.
    37. Luigi Bonatti & Andrea Fracasso, 2012. "The costs of rebalancing the China-US co-dependency," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 120(1), pages 59-106.
    38. Luigi Bonatti & Andrea Fracasso, 2010. "Global Rebalancing and the Future of the Sino-US Codependency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 18(s1), pages 70-87.
    39. Cai, Lixin & Liu, Amy Y.C., 2015. "Wage determination and distribution in urban China and Vietnam: A comparative analysis," Journal of Comparative Economics, Elsevier, vol. 43(1), pages 186-203.
    40. Fuertes, Ana-Maria & Phylaktis, Kate & Yan, Cheng, 2016. "Hot money in bank credit flows to emerging markets during the banking globalization era," Journal of International Money and Finance, Elsevier, vol. 60(C), pages 29-52.
    41. Ning, Ye & Wang, Yiming & Su, Chi-wei, 2017. "How did China’s foreign exchange reform affect the efficiency of foreign exchange market?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 483(C), pages 219-226.

  14. Ronald Mckinnon, 2007. "Japan'S Deflationary Hangover: Wage Stagnation And The Syndrome Of The Ever-Weaker Yen," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 52(03), pages 309-334.

    Cited by:

    1. Ronald I. McKinnon, 2010. "China in Africa: The Washington Consensus versus the Beijing Consensus," International Finance, Wiley Blackwell, vol. 13(3), pages 495-506, Winter.

  15. Ronald Ian McKinnon, 2007. "The US current account deficits and the dollar standard’s sustainability: A monetary approach," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(4), pages 12-23, January.

    Cited by:

    1. Joshua Aizenman, 2010. "International Reserves and Swap Lines in Times of Financial Distress : Overview and Interpretations," Finance Working Papers 23008, East Asian Bureau of Economic Research.
    2. McKinnon, Ronald & Schnabl, Gunther, 2008. "China's exchange rate impasse and the weak U.S. dollar," Working Papers 73, University of Leipzig, Faculty of Economics and Management Science.
    3. Ronald McKinnon & Gunther Schnabl, 2009. "The Case for Stabilizing China's Exchange Rate: Setting the Stage for Fiscal Expansion," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(1), pages 1-32.

  16. McKinnon, Ronald I., 2007. "The transfer problem in reducing the U.S. current account deficit," Journal of Policy Modeling, Elsevier, vol. 29(5), pages 669-675.

    Cited by:

    1. Chiu, Yi-Bin & Lee, Chien-Chiang & Sun, Chia-Hung, 2010. "The U.S. trade imbalance and real exchange rate: An application of the heterogeneous panel cointegration method," Economic Modelling, Elsevier, vol. 27(3), pages 705-716, May.
    2. von Arnim, Rudiger, 2009. "Recession and rebalancing: How the housing and credit crises will impact US real activity," Journal of Policy Modeling, Elsevier, vol. 31(3), pages 309-324, May.
    3. YUAN, Chunming & CHEN, Ruo, 2015. "Policy transmissions, external imbalances, and their impacts: Cross-country evidence from BRICS," China Economic Review, Elsevier, vol. 33(C), pages 1-24.
    4. Turhan, Ibrahim M. & Arslan, Yavuz & Kılınç, Mustafa, 2011. "Global Imbalances, Current Account Rebalancing and Exchange Rate Adjustments," MPRA Paper 36475, University Library of Munich, Germany.
    5. Chiu, Yi-Bin & Sun, Chia-Hung D., 2016. "The role of savings rate in exchange rate and trade imbalance nexus: Cross-countries evidence," Economic Modelling, Elsevier, vol. 52(PB), pages 1017-1025.

  17. Ronald McKinnon, 2007. "Why China Should Keep Its Dollar Peg," International Finance, Wiley Blackwell, vol. 10(1), pages 43-70, March.

    Cited by:

    1. Ronald Ian McKinnon, 2007. "The US current account deficits and the dollar standard’s sustainability: A monetary approach," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(4), pages 12-23, January.
    2. Moosa, Imad A., 2011. "“Undermining the Case for a Trade War between the U.S. and China” - Una critica all’ipotesi di una guerra commerciale tra Stati Uniti e Cina," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 64(3), pages 365-388.
    3. Kang-Soek LEE, 2010. "A Euro Peg System as an Alternative for the Chinese Exchange Rate Regime," LEO Working Papers / DR LEO 165, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    4. Soyoung Kim & Yoonbai Kim, 2012. "The RMB Debate: Empirical Analysis on the Effects of Exchange Rate Shocks in China and Japan," Working Papers 132012, Hong Kong Institute for Monetary Research.
    5. Straub, Roland & Thimann, Christian, 2010. "The external and domestic side of macroeconomic adjustment in China," Journal of Asian Economics, Elsevier, vol. 21(5), pages 425-444, October.
    6. Chengsi Zhang, 2009. "Excess Liquidity, Inflation and the Yuan Appreciation: What Can China Learn from Recent History?," The World Economy, Wiley Blackwell, vol. 32(7), pages 998-1018, July.
    7. Paul S. L. Yip, 2016. "China’S Exchange Rate System Reform: Two Potential Mistakes And The Recommended Long-Term System," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-40, June.
    8. Gunther Schnabl & Christian Danne, 2007. "A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan," CESifo Working Paper Series 2051, CESifo Group Munich.
    9. Robert Dixon & Zhichao Zhang & Yang Dai, 2016. "Exchange Rate Flexibility in China: Measurement, Regime Shifts and Driving Forces of Change," Review of International Economics, Wiley Blackwell, vol. 24(5), pages 875-892, November.
    10. Aggarwal, Raj & Muckley, Cal B., 2010. "Assessing co-ordinated Asian exchange rate regimes: Proposal for a possible move towards a common currency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(2), pages 149-165, April.
    11. James Xiaohe Zhang, 2011. "RMB Appreciation or Fiscal Stimulus, and their Policy Implications," Chapters,in: China’s Economy in the Post-WTO Environment, chapter 9 Edward Elgar Publishing.
    12. Yuanquan Chen, 2008. "Chinese Economy and Excess Liquidity," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 16(5), pages 63-82.
    13. Bagnai, Alberto, 2009. "The role of China in global external imbalances: Some further evidence," China Economic Review, Elsevier, vol. 20(3), pages 508-526, September.
    14. Yoonbai Kim & Gil Kim, 2012. "The Renminbi Debate: A Review of Issues and Search for Resolution," Chapters,in: Asian Responses to the Global Financial Crisis, chapter 4 Edward Elgar Publishing.
    15. Imad A. Moosa, 2008. "Forecasting the Chinese Yuan-US Dollar Exchange Rate under the New Chinese Exchange Rate Regime," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 7(1), pages 23-35, April.
    16. Kang Chen & Chang Yee Kwan, 2015. "How are Exchange Rates Managed? Evidence of an Anchor-Based Heuristic," The World Economy, Wiley Blackwell, vol. 38(6), pages 1006-1014, June.

  18. Ronald McKinnon & Gunther Schnabl, 2006. "China's Exchange Rate and International Adjustment in Wages, Prices and Interest Rates: Japan Déjà Vu?," CESifo Economic Studies, CESifo, vol. 52(2), pages 276-303, June. See citations under working paper version above.
  19. Ronald McKinnon, 2006. "China's Exchange Rate Trap: Japan Redux?," American Economic Review, American Economic Association, vol. 96(2), pages 427-431, May.

    Cited by:

    1. Giannellis, Nikolaos & Papadopoulos, Athanasios P., 2016. "Intra-national and international spillovers between the real economy and the stock market: The case of China," The Journal of Economic Asymmetries, Elsevier, vol. 14(PA), pages 78-92.
    2. Zhang, Zhichao & Shi, Nan & Zhang, Xiaoli, 2011. "China’s new exchange rate regime, optimal basket currency and currency diversification," MPRA Paper 32642, University Library of Munich, Germany.
    3. Andrea Fracasso, 2015. "Economic Rebalancing and Growth: the Japanese experience and China’s prospects," DEM Discussion Papers 2015/07, Department of Economics and Management.
    4. Marvin S Goodfriend & Eswar S Prasad, 2006. "A Framework for Independent Monetary Policy in China," IMF Working Papers 06/111, International Monetary Fund.
    5. Cao Emily Yixuan & Cao Yong & Prasad Rashmi & Shen Zhengping, 2011. "U.S.-China Exchange Rate Negotiation: Stakeholders' Participation and Strategy Deployment," Business and Politics, De Gruyter, vol. 13(3), pages 1-25, October.
    6. Bonatti, Luigi & Fracasso, Andrea, 2013. "Regime switches in the Sino-American co-dependency: Growth and structural change in China," Structural Change and Economic Dynamics, Elsevier, vol. 25(C), pages 1-32.
    7. Bonatti, Luigi & Fracasso, Andrea, 2014. "Modeling the Transition Towards Renminbi's Full Convertibility: Implications for China’s Growth," MPRA Paper 54129, University Library of Munich, Germany.
    8. Robert Dixon & Zhichao Zhang & Yang Dai, 2016. "Exchange Rate Flexibility in China: Measurement, Regime Shifts and Driving Forces of Change," Review of International Economics, Wiley Blackwell, vol. 24(5), pages 875-892, November.
    9. Luigi Bonatti & Andrea Fracasso, 2012. "The costs of rebalancing the China-US co-dependency," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 120(1), pages 59-106.
    10. van Treeck, Till. & Sturn, Simon., 2012. "Income inequality as a cause of the Great Recession? : A survey of current debates," ILO Working Papers 994709343402676, International Labour Organization.
    11. Yoshinori Kurokawa & Jiaren Pang & Yao Tang, 2013. "Exchange Rate Regimes and Wage Comovements in a Ricardian Model with Money," Tsukuba Economics Working Papers 2013-005, Economics, Graduate School of Humanities and Social Sciences, University of Tsukuba, revised Jul 2016.
    12. Fracasso, Andrea & Schiavo, Stefano, 2009. "Global imbalances, exchange rates adjustment and the crisis: Implications from network analysis," Journal of Policy Modeling, Elsevier, vol. 31(5), pages 601-619, September.
    13. Yang, Jun & Zhang, Wei & Tokgoz, Simla, 2013. "Macroeconomic impacts of Chinese currency appreciation on China and the Rest of World: A global CGE analysis," Journal of Policy Modeling, Elsevier, vol. 35(6), pages 1029-1042.

  20. McKinnon Ronald I, 2006. "China's New Exchange Rate Policy: Will China Follow Japan into a Liquidity Trap?," The Economists' Voice, De Gruyter, vol. 3(5), pages 1-7, April.
    See citations under working paper version above.
  21. Ronald McKinnon, 2006. "China'S Exchange Rate Appreciation In The Light Of The Earlier Japanese Experience," Pacific Economic Review, Wiley Blackwell, vol. 11(3), pages 287-298, October.
    See citations under working paper version above.
  22. McKinnon, Ronald & Schnabl, Gunther, 2006. "Devaluing the dollar: A critical analysis of William Cline's case for a New Plaza Agreement," Journal of Policy Modeling, Elsevier, vol. 28(6), pages 683-694, September.

    Cited by:

    1. Schnabl, Gunther & Freitag, Stephan, 2009. "An asymmetry matrix in global current accounts," Working Papers 76, University of Leipzig, Faculty of Economics and Management Science.
    2. Xafa, Miranda, 2007. "Global imbalances and financial stability," Journal of Policy Modeling, Elsevier, vol. 29(5), pages 783-796.
    3. George Irvin, 2007. "Inequality and the Anglo-American Economic Model," ICER Working Papers 26-2007, ICER - International Centre for Economic Research.
    4. Frieden, Jeffry A., 2008. "Global Governance of Global Monetary Relations: Rationale and Feasibility," Economics Discussion Papers 2008-32, Kiel Institute for the World Economy (IfW).
    5. Robin Pope & Reinhard Selten & Johannes Kaiser & Sebastian Kube & Jürgen Hagen, 2012. "Exchange rate determination: a theory of the decisive role of central bank cooperation and conflict," International Economics and Economic Policy, Springer, vol. 9(1), pages 13-51, March.
    6. Ronald McKinnon & Gunther Schnabl, 2006. "China's Exchange Rate and International Adjustment in Wages, Prices and Interest Rates: Japan Déjà Vu?," CESifo Economic Studies, CESifo, vol. 52(2), pages 276-303, June.
    7. Pablo Duarte & Gunther Schnabl, 2014. "Macroeconomic Policy Making, Exchange Rate Adjustment and Current Account Imbalances in Emerging Markets," CESifo Working Paper Series 5064, CESifo Group Munich.
    8. Luigi Bonatti & Andrea Fracasso, 2009. "The evolution of the Sino-American Co-dependency: modelling a regime switch in a growth setting," Department of Economics Working Papers 0905, Department of Economics, University of Trento, Italia.
    9. Andrea Fracasso & Stefano Schiavo, 2009. "Trade-imbalances networks and exchange rate adjustments: the paradox of a new Plaza. The XIVth Spring Meeting of Young Economists (SMYE-2009), Istanbul, April 2009," Sciences Po publications info:hdl:2441/10028, Sciences Po.
    10. Meixing Dai, 2011. "Motivations and strategies for a real revaluation of the Yuan," Working Papers of BETA 2011-23, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    11. Costabile, Lilia, 2009. "Current global imbalances and the Keynes Plan: A Keynesian approach for reforming the international monetary system," Structural Change and Economic Dynamics, Elsevier, vol. 20(2), pages 79-89, June.
    12. Turhan, Ibrahim M. & Arslan, Yavuz & Kılınç, Mustafa, 2011. "Global Imbalances, Current Account Rebalancing and Exchange Rate Adjustments," MPRA Paper 36475, University Library of Munich, Germany.
    13. Miranda Xafa, 2007. "Global Imbalances and Financial Stability," IMF Working Papers 07/111, International Monetary Fund.
    14. Pope, Robin & Selten, Reinhard & Kube, Sebastian & Kaiser, Johannes & von Hagen, Jürgen, 2007. "Exchange Rate Determination: A Model of the Decisive Role of Central Bank Cooperation and Conflict," Bonn Econ Discussion Papers 18/2007, University of Bonn, Bonn Graduate School of Economics (BGSE).
    15. Chakravarty, Sangeeta & Mitra, Arup, 2009. "Is industry still the engine of growth? An econometric study of the organized sector employment in India," Journal of Policy Modeling, Elsevier, vol. 31(1), pages 22-35.
    16. Fracasso, Andrea & Schiavo, Stefano, 2009. "Global imbalances, exchange rates adjustment and the crisis: Implications from network analysis," Journal of Policy Modeling, Elsevier, vol. 31(5), pages 601-619, September.
    17. Robin Pope, 2009. "Beggar-Thy-Neighbour Exchange Rate Regime Misadvice from Misapplications of Mundell (1961 ) and the Remedy," The World Economy, Wiley Blackwell, vol. 32(2), pages 326-350, February.

  23. Ronald I. McKinnon, 2005. "Exchange rates, wages, and international adjustment: Japan and China versus the United States," Proceedings, Federal Reserve Bank of San Francisco, issue Feb.

    Cited by:

    1. Antoine Bouveret & Sana Mestiri & Henri Sterdyniak, 2006. "The Renminbi Equilibrium Exchange Rate: an agnostic view," Working Papers hal-01073825, HAL.
    2. Yin-wong Cheung & Dickson Tam & Matthew S. Yiu, 2006. "Does the Chinese Interest Rate Follow the US Interest Rate?," Working Papers 192006, Hong Kong Institute for Monetary Research.

  24. Ronald McKinnon, 2005. "Exchange rate or wage changes in international adjustment?," International Economics and Economic Policy, Springer, vol. 2(2), pages 261-274, November.

    Cited by:

    1. Paul J.J. Welfens, 2009. "Innovationen und Transatlantische Bankenkrise: Eine ordnungspolitische Analyse," EIIW Discussion paper disbei171, Universitätsbibliothek Wuppertal, University Library.
    2. Antoine Bouveret & Sana Mestiri & Henri Sterdyniak, 2006. "La valeur du yuan: Les paradoxes du taux de change d’équilibre," Sciences Po publications info:hdl:2441/5282, Sciences Po.
    3. Martín Redrado & Jorge Carrera & Diego Bastourre & Javier Ibarlucia, 2006. "The Economic Policy of Foreign Reserve Accumulation: New International Evidence," BCRA Working Paper Series 200614, Central Bank of Argentina, Economic Research Department.

  25. McKinnon, Ronald I., 2005. "Trapped by the international dollar standard," Journal of Policy Modeling, Elsevier, vol. 27(4), pages 477-485, June.

    Cited by:

    1. Apergis, Nicholas & Zestos, George K. & Shaltayev, Dmitriy S., 2012. "Do market fundamentals determine the Dollar–Euro exchange rate?," Journal of Policy Modeling, Elsevier, vol. 34(1), pages 1-15.
    2. Ronald Ian McKinnon, 2007. "The US current account deficits and the dollar standard’s sustainability: A monetary approach," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(4), pages 12-23, January.
    3. Seghezza, Elena & Morelli, Pierluigi & Pittaluga, Giovanni B., 2017. "Reserve accumulation and exchange rate policy in China: The authoritarian elite's aim of political survival," European Journal of Political Economy, Elsevier, vol. 46(C), pages 40-51.
    4. Schnabl, Gunther & Ziegler, Christina, 2011. "Exchange rate and wage policies in Central and Eastern Europe," Journal of Policy Modeling, Elsevier, vol. 33(3), pages 347-360, May.
    5. Marzovilla, Olga, 2010. "Impact of global economic imbalance on migrant workers and economies of the Gulf Cooperation Council," MPRA Paper 24210, University Library of Munich, Germany.
    6. Sheng, Andrew & Kwek, Kian-Teng & Cho, Cho-Wai, 2009. "A tale of Asian exchange rate management: Romance of the three currencies," Journal of Asian Economics, Elsevier, vol. 20(5), pages 519-535, September.
    7. Labrinidis, George, 2014. "The forms of world money," MPRA Paper 59962, University Library of Munich, Germany.
    8. Marzovilla, Olga, 2010. "The impact of global economic imbalance on migrant workers and economies of the Gulf Cooperation Council," MPRA Paper 29466, University Library of Munich, Germany.
    9. von Arnim, Rudiger, 2009. "Recession and rebalancing: How the housing and credit crises will impact US real activity," Journal of Policy Modeling, Elsevier, vol. 31(3), pages 309-324, May.
    10. Yeh Kuo-chun, 2009. "Will a Taiwan-China Monetary Union be Feasible? Lessons from Europe," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 14(3), pages 1-36, March.
    11. Kuo-Chun Yeh, 2013. "An Asian Currency Unit: Simulations for Its Effects on East Asia," The World Economy, Wiley Blackwell, vol. 36(12), pages 1611-1631, December.
    12. Martín Redrado & Jorge Carrera & Diego Bastourre & Javier Ibarlucia, 2006. "The Economic Policy of Foreign Reserve Accumulation: New International Evidence," BCRA Working Paper Series 200614, Central Bank of Argentina, Economic Research Department.

  26. McKinnon Ronald I, 2004. "Government Deficits and The Deindustrialization of America," The Economists' Voice, De Gruyter, vol. 1(3), pages 1-8, December.

    Cited by:

    1. Nouriel Roubini, 2006. "The BW 2 regime: an unstable disequilibrium bound to unravel," International Economics and Economic Policy, Springer, vol. 3(3), pages 303-332, December.

  27. Ronald I. McKinnon, 2004. "Optimum Currency Areas and Key Currencies: Mundell I versus Mundell II," Journal of Common Market Studies, Wiley Blackwell, vol. 42(4), pages 689-715, November.

    Cited by:

    1. Hyoung-kyu Chey, 2009. "A Political Economic Critique on the Theory of Optimum Currency Areas, and the Implications for East Asia," The World Economy, Wiley Blackwell, vol. 32(12), pages 1685-1705, December.
    2. Fritz Breuss, 2009. "Ten Years of EMU – Achievements, Drawbacks and Challenges," WIFO Monatsberichte (monthly reports), WIFO, vol. 82(1), pages 61-84, January.
    3. Schnabl, Gunther & Zemanek, Holger, 2011. "Inter-Temporal Savings, Current Account Dynamics and Asymmetric Shocks in a Heterogeneous European Monetary Union," Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48685, Verein für Socialpolitik / German Economic Association.
    4. Christiansen, Charlotte & Ranaldo, Angelo, 2009. "Extreme coexceedances in new EU member states' stock markets," Journal of Banking & Finance, Elsevier, vol. 33(6), pages 1048-1057, June.
    5. Marc-Alexandre Sénégas, 2010. "La théorie des zones monétaires optimales au regard de l'euro : Quels enseignements après dix années d'union économique et monétaire en Europe ?," Revue d'économie politique, Dalloz, vol. 120(2), pages 379-419.
    6. Artis, Michael J, 2006. "What Do We Now Know About Currency Unions?," CEPR Discussion Papers 5677, C.E.P.R. Discussion Papers.
    7. Dariusz K. Rosati, 2013. "Czy Polska powinna przystąpić do strefy euro?," Gospodarka Narodowa, Warsaw School of Economics, issue 10, pages 5-37.
    8. Assessment of CIS Countries Readiness for Creation of Currency Union & Mironov, Alexey, 2014. "Assessment of CIS Countries Readiness for Creation of Currency Union," Published Papers dok19, Russian Presidential Academy of National Economy and Public Administration.
    9. Filippo Cesarano, 2006. "Optimum currency areas: a policy view," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 59(239), pages 317-332.
    10. Heinz Handler, 2013. "The Eurozone: Piecemeal Approach to an Optimum Currency Area," WIFO Working Papers 446, WIFO.
    11. Troeger, Vera, 2012. "Monetary Policy Flixibility in floating Exchange Rate Regimes: Currency Denomination and Import Shares," CAGE Online Working Paper Series 82, Competitive Advantage in the Global Economy (CAGE).
    12. Yuliya Demyanyk & Vadym Volosovych, 2006. "Gains from Financial Integration in the European Union: Evidence for New and Old Members," Working Papers 06009, Department of Economics, College of Business, Florida Atlantic University, revised Aug 2007.
    13. Arratibel, Olga & Martin, Reiner & Furceri, Davide, 2008. "Real convergence in Central and Eastern European EU Member States: which role for exchange rate volatility?," Working Paper Series 929, European Central Bank.
    14. Plamen K Iossifov & Misa Takebe & Zaijin Zhan & Noriaki Kinoshita & Robert C York, 2009. "Improving Surveillance Across the CEMAC Region," IMF Working Papers 09/260, International Monetary Fund.
    15. Filippo Cesarano, 2006. "Optimum currency areas: a policy view," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 59(239), pages 317-332.
    16. Riccardo Fiorentini & Guido Montani, 2012. "The New Global Political Economy," Books, Edward Elgar Publishing, number 14443.
    17. Becchetti, Leonardo & Hasan, Iftekhar, 2005. "The Effects of (within and with EU) Regional Integration: Impact on Real Effective Exchange Rate Volatility, Institutional Quality and Growth for MENA Countries," WIDER Working Paper Series 073, World Institute for Development Economic Research (UNU-WIDER).
    18. Fernando Ballabriga & Carolina Villegas-Sánchez, 2017. "Specialization, Risk Sharing and the Euro," Journal of Common Market Studies, Wiley Blackwell, vol. 55(6), pages 1380-1397, November.
    19. Petr Rozmahel & Nikola Najman, 2012. "Continuing integration in Europe? Some empirical evidence on European industrial production cycle," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 60(7), pages 233-242.
    20. Thierry Warin & Phanindra V. Wunnava & Hubert P. Janicki, 2009. "Testing Mundell's Intuition of Endogenous OCA Theory," Review of International Economics, Wiley Blackwell, vol. 17(1), pages 74-86, February.
    21. Mulatu Fekadu Zerihun & Marthinus C. Breitenbach, 2017. "Panel Data Analysis of the Proposed Monetary Union in the Southern African Development Community," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 67(4), pages 23-44, October-D.
    22. Fritz, Barbara & Mühlich, Laurissa, 2006. "Regional Monetary Integration among Developing Countries: New Opportunities for Macroeconomic Stability beyond the Theory of Optimum Currency Areas?," GIGA Working Papers 38, GIGA German Institute of Global and Area Studies.
    23. Canale, Rosaria Rita & de Grauwe, Paul & Foresti, Pasquale & Napolitano, Oreste, 2018. "Is there a trade-off between free capital mobility, financial stability and fiscal policy flexibility in the EMU?," LSE Research Online Documents on Economics 86976, London School of Economics and Political Science, LSE Library.
    24. Thomas Plümper & Vera E. Troeger, 2006. "Fear of Floating and the External Effects of Currency Unions," The Institute for International Integration Studies Discussion Paper Series iiisdp181, IIIS.
    25. Francesco Paolo Mongelli, 2008. "European Economic and Monetary Integration, and the Optimum Currency Area Theory," European Economy - Economic Papers 2008 - 2015 302, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    26. Gunther Schnabl & Holger Zemanek, 2012. "German unification and intra- European imbalances," Chapters,in: European Integration in a Global Economy, chapter 7, pages 53-68 Edward Elgar Publishing.
    27. Paul De Grauwe & Gunther Schnabl, 2008. "Exchange Rate Stability, Inflation, and Growth in (South) Eastern and Central Europe," Review of Development Economics, Wiley Blackwell, vol. 12(3), pages 530-549, August.
    28. Vladimir Gligorov & Anna Iara & Michael Landesmann & Robert Stehrer & Hermine Vidovic, 2008. "Western Balkan Countries: Adjustment Capacity to External Shocks, with a Focus on Labour Markets," wiiw Research Reports 352, The Vienna Institute for International Economic Studies, wiiw.
    29. Casimir Dadak, 2011. "Political Economy of the Euro Area Crisis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(5), pages 593-604, December.

  28. Ronald McKinnon & Gunther Schnabl, 2004. "The Return to Soft Dollar Pegging in East Asia: Mitigating Conflicted Virtue," International Finance, Wiley Blackwell, vol. 7(2), pages 169-201, July.
    See citations under working paper version above.
  29. Ronald McKinnon & Gunther Schnabl, 2004. "The East Asian Dollar Standard, Fear of Floating, and Original Sin," Review of Development Economics, Wiley Blackwell, vol. 8(3), pages 331-360, August.
    See citations under working paper version above.
  30. McKinnon, Ronald I., 2004. "The East Asian dollar standard," China Economic Review, Elsevier, vol. 15(3), pages 325-330.

    Cited by:

    1. Charles Adams & Hwee Kwan Chow, 2007. "Asian Currency Baskets : An Answer in Search of a Question?," Finance Working Papers 22055, East Asian Bureau of Economic Research.
    2. Aaron Jackson & William Miles, 2008. "Fixed Exchange Rates and Disinflation in Emerging Markets: How Large Is the Effect?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 144(3), pages 538-557, October.
    3. Cruz Rodriguez, Alexis, 2009. "Choosing and assessing exchange rate regimes: A survey of the literature," MPRA Paper 16314, University Library of Munich, Germany.
    4. Essers, Dennis & Cassimon, Danny, 2012. "Washing away original sin: vulnerability to crisis and the role of local currency bonds in Sub-Saharan Africa," IOB Working Papers 2012.12, Universiteit Antwerpen, Institute of Development Policy (IOB).
    5. Dirk Engelmann & Jan Hanousek & Evzen Kocenda, 2004. "Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks (Currencies, Competition, and Clans)," Macroeconomics 0406003, University Library of Munich, Germany.
    6. Rod Tyers & Ying Zhang, 2010. "Appreciating The Renminbi," Economics Discussion / Working Papers 10-13, The University of Western Australia, Department of Economics.
    7. Syed Kumail Abbas Rizvi & Bushra Naqvi & Nawazish Mirza, 2014. "From Fear of Floating to Benign Neglect: The Exchange Rate Regime Roller Coaster in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 19(Special E), pages 17-34, September.
    8. Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2017. "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," Working Paper 503441, Harvard University OpenScholar.
    9. Schnabl, Gunther & Hillebrand, Eric, 2006. "A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility," Working Paper Series 650, European Central Bank.
    10. Michael Funke & Marc Gronwald, 2008. "The undisclosed Renminbi Basket: are the markets telling us something about where the Renminbi - US Dollar Exchange Rate is going?," Quantitative Macroeconomics Working Papers 20812b, Hamburg University, Department of Economics.
    11. Siregar, Reza.Y. & Goo, Siwei, 2009. "Effectiveness and Commitment to Inflation Targeting Policy: Evidences from Indonesia and Thailand," MPRA Paper 17271, University Library of Munich, Germany.
    12. James Laurenceson, "undated". "China�s exchange rate policy: the case against abandoning the dollar peg," EAERG Discussion Paper Series 0105, School of Economics, University of Queensland, Australia.
    13. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics,in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520 Elsevier.
    14. Dino Martellato, 2010. "Skirmishing Currencies," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 17(4), pages 645-661, December.
    15. Billen, Dieter & Garcia, Maria Melody & Khasanova, Nelli, 2005. "Is the effect of exchange rate volatility on trade more pronounced in Latin America than in Asia?," Kiel Advanced Studies Working Papers 434, Kiel Institute for the World Economy (IfW).
    16. Richard Pomfret, 2005. "Sequencing Trade and Monetary Integration," Others 0502004, University Library of Munich, Germany.
    17. Sheng, Andrew & Kwek, Kian-Teng & Cho, Cho-Wai, 2009. "A tale of Asian exchange rate management: Romance of the three currencies," Journal of Asian Economics, Elsevier, vol. 20(5), pages 519-535, September.
    18. Demosthenes N. Tambakis, 2007. "Fear of Floating and Social Welfare," International Journal of Central Banking, International Journal of Central Banking, vol. 3(3), pages 183-204, September.
    19. Flávio Vilela Vieira & Michele Polline Veríssimo, 2005. "Crescimento Econômico De Longo Prazo Na China: Uma Investigação Econométrica," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] 067, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    20. Pomfret, Richard, 2005. "Sequencing trade and monetary integration: issues and application to Asia," Journal of Asian Economics, Elsevier, vol. 16(1), pages 105-124, February.
    21. Giovanni Cozzi & Jan Toporowski, 2006. "The Balance Sheet Approach To Financial Crises In Emerging Markets," Working Papers 149, Department of Economics, SOAS, University of London, UK.
    22. Berdiev, Aziz N. & Chang, Chun-Ping, 2015. "Business cycle synchronization in Asia-Pacific: New evidence from wavelet analysis," Journal of Asian Economics, Elsevier, vol. 37(C), pages 20-33.
    23. Laurenceson, J. & Qin, F., 2005. "China's Exchange Rate Policy : The Case Against Abandoning the Dollar PEG," Discussion Paper 2005-70, Tilburg University, Center for Economic Research.
    24. Gunther Schnabl & Christian Danne, 2007. "A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan," CESifo Working Paper Series 2051, CESifo Group Munich.
    25. XU, Yingfeng, 2009. "Relevant international experience of real exchange rate adjustment for China," China Economic Review, Elsevier, vol. 20(3), pages 440-451, September.
    26. Hoffmann, Andreas & Loeffler, Axel, 2013. "Low interest rate policy and the use of reserve requirements in emerging markets," Working Papers 120, University of Leipzig, Faculty of Economics and Management Science.
    27. Siwei Goo & Reza Siregar, 2009. "Economic Shocks And Exchange Rate As A Shock Absorber In Indonesia And Thailand," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp72, April.
    28. Deniz Arinsoy & Erdal Özmen, 2004. "Original Sin Mystery Trinity and Unequal Blessings," ERC Working Papers 0415, ERC - Economic Research Center, Middle East Technical University, revised Oct 2004.
    29. Eichengreen, Barry, 2006. "Global Imbalances and the Asian Economies: Implications for Regional Cooperation," Working Papers on Regional Economic Integration 4, Asian Development Bank.
    30. Vipin Arora & Rod Tyers & Ying Zhang, 2014. "Reconstructing the Savings Glut: The Global Implications of Asian Excess Saving," Economics Discussion / Working Papers 14-24, The University of Western Australia, Department of Economics.
    31. Kamps, Annette, 2006. "The euro as invoicing currency in international trade," Working Paper Series 665, European Central Bank.
    32. Gunther Schnabl, 2007. "Exchange Rate Volatility and Growth in Emerging Europe and East Asia," CESifo Working Paper Series 2023, CESifo Group Munich.

  31. Ronald McKinnon & Gunther Schnabl, 2003. "Synchronised Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate," The World Economy, Wiley Blackwell, vol. 26(8), pages 1067-1088, August.
    See citations under working paper version above.
  32. Rishi Goyal & Ronald McKinnon, 2003. "Japan's Negative Risk Premium in Interest Rates: The Liquidity Trap and the Fall in Bank Lending," The World Economy, Wiley Blackwell, vol. 26(3), pages 339-363, March.

    Cited by:

    1. McKinnon, Ronald I., 2004. "The East Asian dollar standard," China Economic Review, Elsevier, vol. 15(3), pages 325-330.
    2. Eric Hillebrand & Gunther Schnabl, 2003. "The Effects of Japanese Foreign Exchange Intervention: GARCH Estimation and Change Point Detection," Departmental Working Papers 2003-09, Department of Economics, Louisiana State University.
    3. Matthias Neuenkirch & Matthias Nöckel, 2017. "The Risk-Taking Channel of Monetary Policy Transmission in the Euro Area," Research Papers in Economics 2017-02, University of Trier, Department of Economics.
    4. Axel Löffler & Gunther Schnabl & Franziska Schobert, 2013. "Limits of Monetary Policy Autonomy and Exchange Rate Flexibility by East Asian Central Banks," Global Financial Markets Working Paper Series 48-2013, Friedrich-Schiller-University Jena.
    5. Gunther Schnabl, 2015. "Monetary Policy and Structural Decline: Lessons from Japan for the European Crisis," Asian Economic Papers, MIT Press, vol. 14(1), pages 124-150, Winter/Sp.
    6. Rod Tyers, 2013. "Looking Inward for Transformative Growth in China," CAMA Working Papers 2013-48, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    7. Hoffmann, Andreas & Schnabl, Gunther, 2016. "Monetary policies of industrial countries, emerging market credit cycles and feedback effects," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 855-873.
    8. Damir Tokic, 2017. "Negative interest rates: Causes and consequences," Journal of Asset Management, Palgrave Macmillan, vol. 18(4), pages 243-254, July.
    9. Alan J. Auerbach & Maurice Obstfeld, 2005. "The Case for Open-Market Purchases in a Liquidity Trap," American Economic Review, American Economic Association, vol. 95(1), pages 110-137, March.
    10. Gunther Schnabl, 2012. "Die japanischen Lehren für die europäische Krise," Global Financial Markets Working Paper Series 2012-36, Friedrich-Schiller-University Jena.
    11. Chengsi Zhang, 2009. "Excess Liquidity, Inflation and the Yuan Appreciation: What Can China Learn from Recent History?," The World Economy, Wiley Blackwell, vol. 32(7), pages 998-1018, July.
    12. Andreas Hoffmann & Gunther Schnabl, 2014. "Monetary Policies of Large Industrialised Countries, Emerging Market Credit Cycles and Feedback Effects," CESifo Working Paper Series 4723, CESifo Group Munich.
    13. Tyers, Rod, 2014. "Looking inward for transformative growth," China Economic Review, Elsevier, vol. 29(C), pages 166-184.
    14. Ronald McKinnon & Gunther Schnabl, 2004. "The Return to Soft Dollar Pegging in East Asia. Mitigating Conflicted Virtue," International Finance 0406007, University Library of Munich, Germany, revised 07 Jul 2004.
    15. Gunther Schnabl & Christian Danne, 2007. "A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan," CESifo Working Paper Series 2051, CESifo Group Munich.
    16. Schnabl, Gunther, 2005. "Der Festkurs als merkantilistische Handelspolitik : Chinas Währungs- und Geldpolitik im Umfeld globaler Ungleichgewichte," Tübinger Diskussionsbeiträge 291, University of Tübingen, School of Business and Economics.
    17. Vipin Arora & Rod Tyers & Ying Zhang, 2014. "Reconstructing the Savings Glut: The Global Implications of Asian Excess Saving," Economics Discussion / Working Papers 14-24, The University of Western Australia, Department of Economics.
    18. Kristina Spantig, 2015. "International monetary policy spillovers—can the RMB and the euro challenge the hegemony of the US dollar?," Asia Europe Journal, Springer, vol. 13(4), pages 459-478, December.
    19. Meixing Dai & Fanny Loux, 2017. "Les taux d’intérêt nominaux négatifs sont-ils efficaces pour relancer la croissance des crédits et de l’économie ?," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 36(1), pages 9-20, June.
    20. J.A. Bikker & Tobias M. Vervliet, 2017. "Bank Profitability and Risk-Taking under Low Interest Rates," Working Papers 17-10, Utrecht School of Economics.
    21. Rafiq Sohrab, 2012. "Is Discretionary Fiscal Policy in Japan Effective?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-49, August.
    22. Ronald McKinnon & Gunther Schnabl, 2009. "The Case for Stabilizing China's Exchange Rate: Setting the Stage for Fiscal Expansion," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(1), pages 1-32.

  33. Ronald McKinnon, 2002. "Optimum currency areas and the European experience," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 10(2), pages 343-364, July.

    Cited by:

    1. Herbert Buscher & Hubert Gabrisch, 2012. "The synchronization of wage dynamics across EMU members. A test of the endogeneity hypothesis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 39(3), pages 327-340, August.
    2. Boewer Böwer, Uwe, 2006. "Risk Sharing, Financial integration, and "Mundell II" in the Enlarged European Union," Institute of European Studies, Working Paper Series qt2xz37086, Institute of European Studies, UC Berkeley.
    3. Jan Babetski & Laurence Boone & Mathilde Maurel, 2003. "Exchange Rate Regimes and Supply Shocks Asymmetry: the Case of the Accession Countries," CERGE-EI Working Papers wp206, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    4. Paul de Grauwe & Gunther Schnabl, 2004. "Nominal versus Real Convergence with Respect to EMU Accession.How to Cope with the Balassa-Samuelson Dilemma," EUI-RSCAS Working Papers 20, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    5. Jarko Fidrmuc & Iikka Korhonen, 2004. "The Euro goes East: Implications of the 2000–2002 Economic Slowdown for Synchronisation of Business Cycles between the Euro area and CEECs," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(1), pages 45-62, March.
    6. Liu, Yi Yun & Gan, Christopher & Ward, Bert D., 2006. "The Impact of the Euro on New Zealand’s Bilateral Trade with the European Union," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 59(3), pages 329-354.
    7. Mathilde Maurel, 2004. "Financial Integration, Exchange Rate Regimes in CEECs, and joining the EMU : Just Do It," Working Papers hal-01065481, HAL.
    8. Ioana Laura Valeanu, 2012. "Challenges Of The Economic And Monetary Union In The Context Of The Economic Crisis," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4(4), pages 866-877, December.
    9. Cécile Couharde & Cyriac Guillaumin, 2011. "Chocs externes et perspective d'union monétaire en Asie de l'Est : les enseignements d'un modèle VAR structurel," Post-Print halshs-00632373, HAL.
    10. Lars Jonung & Eoin Drea, 2010. "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989–2002," Econ Journal Watch, Econ Journal Watch, vol. 7(1), pages 1-4–52, January.
    11. Jan Babetskii, 2004. "Ladhésion des Peco (Pays dEurope Centrale et Orientale) à l'Union européenne et l'endogénéité des chocs d'offre et de demande," Économie et Prévision, Programme National Persée, vol. 163(2), pages 33-49.
    12. van Riet, Ad, 2017. "Addressing the safety trilemma: a safe sovereign asset for the eurozone," ESRB Working Paper Series 35, European Systemic Risk Board.
    13. Jarko Fidrmuc & Iikka Korhonen, 2006. "Meta-Analysis of the Business Cycle Correlation between the Euro Area and the CEECs," CESifo Working Paper Series 1693, CESifo Group Munich.
    14. Fidrmuc, Jarko & Korhonen, Iikka, 2004. "A meta-analysis of business cycle correlation between the euro area and CEECs : What do we know - and who cares?," BOFIT Discussion Papers 20/2004, Bank of Finland, Institute for Economies in Transition.
    15. van Riet, Ad, 2015. "Market-preserving fiscal federalism in the European Monetary Union," MPRA Paper 77772, University Library of Munich, Germany.
    16. Marco Celentani & J. Ignacio Conde-Ruiz & Klaus Desmet, "undated". "Inflation in open economies with complete markets," Working Papers 2004-12, FEDEA.
    17. Ian Babetskii & Laurence Boone & Mathilde Maurel, 2004. "Exchange rate regimes and shocks asymmetry: the case of the accession countries," Post-Print halshs-00468626, HAL.
    18. Joanna Tyrowicz, 2007. "The OCA Theory and Its Empirical Application for the EMU," Gospodarka Narodowa, Warsaw School of Economics, issue 5-6, pages 45-60.
    19. Fidrmuc, Jarko & Korhonen, Iikka, 2003. "Similarity of supply and demand shocks between the euro area and the CEECs," Economic Systems, Elsevier, vol. 27(3), pages 313-334, September.
    20. Samarina, Anna & Zhang, Lu & Bezemer, Dirk, 2017. "Credit cycle coherence in the eurozone: Was there a euro effect?," Journal of International Money and Finance, Elsevier, vol. 77(C), pages 77-98.
    21. Boubakri, Salem & Guillaumin, Cyriac, 2011. "Financial integration and currency risk premium in CEECs: Evidence from the ICAPM," Emerging Markets Review, Elsevier, vol. 12(4), pages 460-484.
    22. Kowalski, Tadeusz & Kowalski, Pawel & Wihlborg, Clas, 2007. "Poland. The EMU entry strategy vs. the monetary issues," MPRA Paper 42599, University Library of Munich, Germany, revised 2007.
    23. Thompson, Alexi & Thompson, Henry, 2018. "The Exchange Rate Regime Switch and Current Account in Greece, 1976-2014," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 71(3), pages 371-386.
    24. Rafal Warzala, 2017. "Business Cycles Variability in Polish Regions in the Years 2000–2016," Dynamic Econometric Models, Uniwersytet Mikolaja Kopernika, vol. 17, pages 177-189.
    25. Dong Phong Nguyen & Xuan Vinh Vo, 2017. "Determinants of bilateral trade: evidence from ASEAN+3," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 31(2), pages 115-122, November.
    26. DomeNico Raguseo & Jan Sebo, 2008. "Optimum Currency Areas theory and the Slovak suitability for the euro adoption," Economics Bulletin, AccessEcon, vol. 6(40), pages 1-14.

  34. Ronald I. McKinnon, 2002. "The East Asian Exchange Rate Dilemma and the World Dollar Standard," Money Affairs, Centro de Estudios Monetarios Latinoamericanos, CEMLA, vol. 0(2), pages 119-149, July-Dece.

    Cited by:

    1. Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2017. "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," Working Paper 503441, Harvard University OpenScholar.
    2. Michael Funke & Marc Gronwald, 2008. "The undisclosed Renminbi Basket: are the markets telling us something about where the Renminbi - US Dollar Exchange Rate is going?," Quantitative Macroeconomics Working Papers 20812b, Hamburg University, Department of Economics.
    3. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics,in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520 Elsevier.
    4. Billen, Dieter & Garcia, Maria Melody & Khasanova, Nelli, 2005. "Is the effect of exchange rate volatility on trade more pronounced in Latin America than in Asia?," Kiel Advanced Studies Working Papers 434, Kiel Institute for the World Economy (IfW).
    5. Peter B. Kenen & Ellen E. Meade, 2006. "Monetary integration in East Asia," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    6. Vipin Arora & Rod Tyers & Ying Zhang, 2014. "Reconstructing the Savings Glut: The Global Implications of Asian Excess Saving," Economics Discussion / Working Papers 14-24, The University of Western Australia, Department of Economics.
    7. Bin Zhang & Fan He, 2007. "Is Asian Currency Unit Attractive to East Asian Economies?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 15(1), pages 62-76.

  35. McKinnon, Ronald, 2002. "The euro versus the dollar: resolving a historical puzzle," Journal of Policy Modeling, Elsevier, vol. 24(4), pages 355-359, July.

    Cited by:

    1. Antoine Berthou & Lionel Fontagné, 2013. "How do Multiproduct Exporters React to a Change in Trade Costs?," PSE - Labex "OSE-Ouvrir la Science Economique" hal-00975562, HAL.
    2. Pompeo Della Posta, 2005. "Fundamentals, International Role of Euro and 'Framing' of Expectations: What are the Determinants of the Dollar/Euro Exchange Rate?," Working Papers de Economia (Economics Working Papers) 24, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
    3. Efstratios Kypriotelis, 2015. "The Institutions Developed In The Eu - Eurasia And The Role Of Balkan Countries – Geopolitical And Geo-Economic Analysis," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 9(1), pages 253-274.
    4. Devereux, Michael B & Shi, Kang & Xu, Juanyi, 2004. "Global Monetary Policy Under a Dollar Standard," CEPR Discussion Papers 4317, C.E.P.R. Discussion Papers.
    5. Idil Goksel, 2004. "Does The Euro Have A Chance to Challenge The Dollar," Working Papers 0401, Izmir University of Economics.
    6. Hermann Remsperger & Adalbert Winkler, 2009. "Welchen Einfluss hat der Wechselkurs auf die internationale Rolle von US-Dollar und Euro?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 10(1), pages 21-38, February.

  36. McKinnon, Ronald I., 2001. "The problem of dollar encroachment in emerging markets," Journal of Policy Modeling, Elsevier, vol. 23(3), pages 301-319, April.

    Cited by:

    1. Kenneth P. Jameson, 2004. "Dollarization in Ecuador: A Post-Keynesian Analysis," Working Paper Series, Department of Economics, University of Utah 2004_05, University of Utah, Department of Economics.
    2. Cruz-Rodríguez, Alexis, 2005. "¿Es la dolarización oficial una opción real para las economías emergentes?
      [Is Official Dollarization a real option for emerging countries?]
      ," MPRA Paper 54353, University Library of Munich, Germany.

  37. Ronald I. McKinnon, 2001. "The International Dollar Standard and the Sustainability of the U.S. Current Account Deficit," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(1), pages 227-241.

    Cited by:

    1. Yan, Ho-don, 2007. "Does capital mobility finance or cause a current account imbalance?," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(1), pages 1-25, March.
    2. Joshua E. Greene & Magda E. Kandil, 2002. "The Impact of Cyclical Factors on the U. S. Balance of Payments," IMF Working Papers 02/45, International Monetary Fund.
    3. Dimitris K. Christopoulos & Miguel León-Ledesma, 2004. "Current Account Sustainability in the US: What Do We Really Know About It?," Studies in Economics 0412, School of Economics, University of Kent.
    4. Fabian Lindner, 2014. "Haben die knappen Weltersparnisse die US-Immobilienblase finanziert?," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 40(1), pages 33-61.
    5. Ronald I. McKinnon, 2004. "Optimum Currency Areas and Key Currencies: Mundell I versus Mundell II," Journal of Common Market Studies, Wiley Blackwell, vol. 42(4), pages 689-715, November.
    6. Joshua Aizenman & Nancy P. Marion, 2002. "The high demand for international reserves in the Far East: what's going on?," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    7. Ogawa, Eiji & Kudo, Takeshi, 2007. "Asymmetric responses of East Asian currencies to the US dollar depreciation for reducing the US current account deficits," Journal of Asian Economics, Elsevier, vol. 18(1), pages 175-194, February.
    8. Chen, Shyh-Wei, 2011. "Are current account deficits really sustainable in the G-7 countries?," Japan and the World Economy, Elsevier, vol. 23(3), pages 190-201.
    9. Devereux, Michael B & Shi, Kang & Xu, Juanyi, 2004. "Global Monetary Policy Under a Dollar Standard," CEPR Discussion Papers 4317, C.E.P.R. Discussion Papers.
    10. Matsubayashi, Yoichi, 2005. "Are US current account deficits unsustainable?: Testing for the private and government intertemporal budget constraints," Japan and the World Economy, Elsevier, vol. 17(2), pages 223-237, April.
    11. Ho-don Yan & Cheng-lang Yang, 2012. "Are there different linkages of foreign capital inflows and the current account between industrial countries and emerging markets?," Empirical Economics, Springer, vol. 43(1), pages 25-54, August.
    12. Eiji Ogawa & Takeshi Kudo, 2007. "Possible depreciation of the US dollar for unsustainable current account deficit in the United States," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(4), pages 24-30, January.
    13. Cheng, Wenli & Zhang, Dingsheng, 2012. "A monetary model of China–US trade relations," Economic Modelling, Elsevier, vol. 29(2), pages 233-238.
    14. Heinz-Peter Spahn, 2004. "Stabilität und Staatsschulden: die europäische Wirtschaftspolitik in der strategischen Sackgasse," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 73(3), pages 429-444.
    15. Akbar Komijani & Hossein Tavakolian, 2011. "The Composition of Foreign Reserves of the Central Banks of Selected Countries: Will the Euro Replace the Dollar?," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 1(2), pages 143-156, December.

  38. Ronald McKinnon & Kenichi Ohno, 2001. "The Foreign Exchange Origins of Japan's Economic Slump and Low Interest Liquidity Trap," The World Economy, Wiley Blackwell, vol. 24(3), pages 279-315, March.
    See citations under working paper version above.
  39. R. I. McKinnon, 2000. "The East Asian Dollar Standard, Life After Death?," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 29(1), pages 31-82, February.
    See citations under working paper version above.
  40. McKinnon, Ronald, 2000. "Mundell, the Euro, and the World Dollar Standard," Journal of Policy Modeling, Elsevier, vol. 22(3), pages 311-324, May.

    Cited by:

    1. Miguel Lebre de Freitas, 2006. "Eu-Wide Money And Currency Substitution," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(4), pages 48-63, November.
    2. Jarko Fidrmuc & Iikka Korhonen, 2004. "The Euro goes East: Implications of the 2000–2002 Economic Slowdown for Synchronisation of Business Cycles between the Euro area and CEECs," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(1), pages 45-62, March.
    3. Schnabl, Gunther & Ziegler, Christina, 2011. "Exchange rate and wage policies in Central and Eastern Europe," Journal of Policy Modeling, Elsevier, vol. 33(3), pages 347-360, May.
    4. Guillermo A. Calvo & Carmen M. Reinhart, 2000. "Fixing for Your Life," NBER Working Papers 8006, National Bureau of Economic Research, Inc.
    5. Orlowski, Lucjan T., 2016. "Co-movements of non-Euro EU currencies with the Euro," International Review of Economics & Finance, Elsevier, vol. 45(C), pages 376-383.
    6. Fidrmuc, Jarko & Korhonen, Iikka, 2004. "A meta-analysis of business cycle correlation between the euro area and CEECs : What do we know - and who cares?," BOFIT Discussion Papers 20/2004, Bank of Finland, Institute for Economies in Transition.
    7. Crespo-Cuaresma, Jesús & Fernández-Amador, Octavio, 2013. "Business cycle convergence in EMU: A second look at the second moment," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 239-259.
    8. Fidrmuc, Jarko & Korhonen, Iikka, 2003. "Similarity of supply and demand shocks between the euro area and the CEECs," Economic Systems, Elsevier, vol. 27(3), pages 313-334, September.

  41. McKinnon, Ronald I., 2000. "On the periphery of the international dollar standard: Canada, Latin America, and East Asia," The North American Journal of Economics and Finance, Elsevier, vol. 11(2), pages 105-121, December.

    Cited by:

    1. Malliaris, A. G., 2002. "Global monetary instability: The role of the IMF, the EU and NAFTA," The North American Journal of Economics and Finance, Elsevier, vol. 13(1), pages 72-92, May.

  42. Ronald I. McKinnon, 1999. "Exchange rate co-ordination for surmounting the East Asian currency crises," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(1), pages 95-106.
    See citations under working paper version above.
  43. McKinnon, Ronald I & Pill, Huw, 1999. "Exchange-Rate Regimes for Emerging Markets: Moral Hazard and International Overborrowing," Oxford Review of Economic Policy, Oxford University Press, vol. 15(3), pages 19-38, Autumn.
    See citations under working paper version above.
  44. McKinnon, Ronald I. & Pill, Huw, 1998. "International Overborrowing: A Decomposition of Credit and Currency Risks," World Development, Elsevier, vol. 26(7), pages 1267-1282, July.
    See citations under working paper version above.
  45. McKinnon, Ronald I & Pill, Huw, 1997. "Credible Economic Liberalizations and Overborrowing," American Economic Review, American Economic Association, vol. 87(2), pages 189-193, May.

    Cited by:

    1. Levan Efremidze & John Rutledge & Thomas D. Willett, 2016. "Capital Flow Surges As Bubbles: Behavioral Finance And Mckinnon’S Over-Borrowing Syndrome Extended," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-27, June.
    2. Nakatani, Ryota, 2017. "Real and Financial Shocks, Exchange Rate Regimes and the Probability of a Currency Crisis," MPRA Paper 82186, University Library of Munich, Germany.
    3. Aaron Tornell & Frank Westermann, 2003. "Credit Market Imperfections in Middle Income Countries," NBER Working Papers 9737, National Bureau of Economic Research, Inc.
    4. Matthew S. Yiu & Alex Ho & Lu Jin, 2009. "Econometric Approach to Early Warnings of Vulnerability in the Banking System and Currency Markets for Hong Kong and Other EMEAP Economies," Working Papers 0908, Hong Kong Monetary Authority.
    5. Alain Ize & Andrew Powell, 2004. "Prudential Responses to De Facto Dollarization," IMF Working Papers 04/66, International Monetary Fund.
    6. Leonardo Hernández & Klaus Schmidt-Hebbel, 2001. "Banking, financial integration, and international crises : an overview," Working Papers Central Bank of Chile 100, Central Bank of Chile.
    7. Eichengreen, Barry, 2000. "Taming Capital Flows," World Development, Elsevier, vol. 28(6), pages 1105-1116, June.
    8. Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee, 1998. "Financial Liberalization and Volatility in Emerging Market Economies," Working Papers 98.02, Swiss National Bank, Study Center Gerzensee.
    9. Eduardo Fernández-Arias & Davide Lombardo, 2001. "Market Discipline and Exuberant Foreign Borrowing," Working Papers Central Bank of Chile 122, Central Bank of Chile.
    10. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, January.
    11. Bacchetta, Philippe & Aghion, Philippe & Banerjee, Abhijit, 2004. "Financial Development and the Instability of Open Economies," Scholarly Articles 4554209, Harvard University Department of Economics.
    12. Jeannine Bailliu, 2000. "Private Capital Flows, Financial Development, and Economic Growth in Developing Countries," Staff Working Papers 00-15, Bank of Canada.
    13. McKinnon, Ronald I & Pill, Huw, 1999. "Exchange-Rate Regimes for Emerging Markets: Moral Hazard and International Overborrowing," Oxford Review of Economic Policy, Oxford University Press, vol. 15(3), pages 19-38, Autumn.
    14. Philip Arestis, 2003. "Financial Sector Reforms in Developing Countries with Special reference to Egypt," Economic History 0307001, University Library of Munich, Germany.
    15. Aysan, Ahmet Faruk, 2006. "Distributional Effects of Boom-Bust Cycles in Developing Countries with Financial Frictions," MPRA Paper 5484, University Library of Munich, Germany.
    16. Kim, Y.J. & Lee, J.W., 1999. "Overinvestment, Collateral Lending, and Economic Crisis," Papers 4, Chicago - Graduate School of Business.
    17. Wilms, Philip & Swank, Job & de Haan, Jakob, 2018. "Determinants of the real impact of banking crises: A review and new evidence," The North American Journal of Economics and Finance, Elsevier, vol. 43(C), pages 54-70.
    18. Nikolas A. Müller-Plantenberg, 2017. "Boom-and-bust Cycles, External Imbalances and the Real Exchange Rate," The World Economy, Wiley Blackwell, vol. 40(1), pages 56-87, January.
    19. Ronald I. McKinnon & Huw Pill, 1998. "International Overborrowing: A Decomposition of Credit and Currency Risks," Working Papers 98004, Stanford University, Department of Economics.
    20. Müller-Plantenberg, Nikolas A., 2010. "Balance of payments accounting and exchange rate dynamics," International Review of Economics & Finance, Elsevier, vol. 19(1), pages 46-63, January.
    21. Belke, Ansgar & Haskamp, Ulrich & Schnabl, Gunther & Zemanek, Holger, 2015. "Beyond Balassa and Samuelson: Real convergence, capital flows, and competitiveness in Greece," Ruhr Economic Papers 577, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    22. Moritz Schularick & Alan M. Taylor, 2009. "Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008," NBER Working Papers 15512, National Bureau of Economic Research, Inc.
    23. Hicham AYAD & Mostéfa BELMOKADDEM, 2017. "Financial development, trade openness and economic growth in MENA countries: TYDL panel causality approach," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 233-246, Spring.
    24. Kaminsky,Graciela & Schmukler,Sergio L., 2001. "Emerging markets instability: do sovereign ratings affect country risk and stock returns?," Policy Research Working Paper Series 2678, The World Bank.
    25. Sabine Herrmann & Adalbert Winkler, 2009. "Financial markets and the current account: emerging Europe versus emerging Asia," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 145(3), pages 531-550, October.
    26. R.T.A. de Haas & I. van Lelyveld, 2002. "Foreign Bank Penetration and Bank Credit Stability in Central and Eastern Europe," Research Series Supervision (discontinued) 43, Netherlands Central Bank, Directorate Supervision.
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    28. Sergio Schmukler & Esteban Vesperoni, 2001. "Globalization and Firms' Financing Choices: Evidence from Emerging Economies," William Davidson Institute Working Papers Series 388, William Davidson Institute at the University of Michigan.
    29. Herrmann, Sabine & Winkler, Adalbert, 2009. "Real convergence, financial markets, and the current account - Emerging Europe versus emerging Asia," The North American Journal of Economics and Finance, Elsevier, vol. 20(2), pages 100-123, August.
    30. R. G Gelos & Alejandro M. Werner, 1999. "Financial Liberalization, Credit Constraints, and Collateral; Investment in the Mexican Manufacturing Sector," IMF Working Papers 99/25, International Monetary Fund.
    31. Joseph Stevy Mba Ollo, 2018. "Capital Account Liberalization and Financial Stability: An Application of the Finite Distributed Lag Model," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(3), pages 47-55, March.
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    35. De Nicolo, Gianni & Honohan, Patrick & Ize, Alain, 2003. "Dollarization of the banking system : good or bad?," Policy Research Working Paper Series 3116, The World Bank.
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    39. Dominic Wilson, 2001. "Managing Capital Flows: A Distortions Approach," Asia Pacific Economic Papers 312, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    40. A. Colangelo & D. Giannone & M. Lenza & H. Pill & L. Reichlin, 2017. "The national segmentation of euro area bank balance sheets during the financial crisis," Empirical Economics, Springer, vol. 53(1), pages 247-265, August.
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    48. HONIG, Adam & JAIN-CHANDRA, Sonali, 2006. "Micro-Level Evidence on the Role of MoralHazard in the Asian Financial Crisis," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 6(1).
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    50. James B. Ang, 2007. "Are Financial Sector Policies Effective in Deeping the Malaysian Financial System," DEGIT Conference Papers c012_031, DEGIT, Dynamics, Economic Growth, and International Trade.
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    65. Paolo Pesenti & Cedric Tille, 2000. "The economics of currency crises and contagion: an introduction," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 3-16.
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    76. Clara Garcia, 2004. "Capital Inflows, Policy Responses, and Their Ill Consequences: Thailand, Malaysia, and Indonesia in the Decade Before the Crises," Working Papers wp81, Political Economy Research Institute, University of Massachusetts at Amherst.
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    Cited by:

    1. Gordon, Robert J, 1999. "The Aftermath of the 1992 ERM Break-up: Was There a Macroeconomic Free Lunch?," CEPR Discussion Papers 2073, C.E.P.R. Discussion Papers.
    2. E. Mengus, 2014. "International Bailouts: Why Did Banks' Collective Bet Lead Europe to Rescue Greece?," Working papers 502, Banque de France.
    3. Oates, Wallace E., 2001. "Fiscal competition and European Union: contrasting perspectives," Regional Science and Urban Economics, Elsevier, vol. 31(2-3), pages 133-145, April.
    4. Rodney Thom & J. Peter Neary, 1996. "Punts, pounds and euros : in search of an optimum currency area," Working Papers 199624, School of Economics, University College Dublin.
    5. Lars Jonung & Eoin Drea, 2010. "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989–2002," Econ Journal Watch, Econ Journal Watch, vol. 7(1), pages 1-4–52, January.
    6. Thiess Büttner & David E. Wildasin, 2002. "The Dynamics of Municipal Fiscal Adjustment," CESifo Working Paper Series 649, CESifo Group Munich.
    7. Schmidt, André, 2011. "Fiskalische Stabilität in einer Währungsunion," Wittener Diskussionspapiere zu alten und neuen Fragen der Wirtschaftswissenschaft 13/2011, Witten/Herdecke University, Faculty of Management and Economics.
    8. Thomas D. Willett, "undated". "A Political Economy Analysis of the Maastricht and Stability Pact Fiscal Criteria," Claremont Colleges Working Papers 1999-33, Claremont Colleges.
    9. Schmidt, André, 2014. "Elemente einer Fiskalverfassung für die Eurozone," Beiträge zur Jahrestagung 2014 (Goettingen) 107394, Verein für Socialpolitik, Ausschuss für Wirtschaftssysteme und Institutionenökonomik.
    10. Anthony J. Pellechio & Saqib Rizavi & Phebby Kufa, 2003. "Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union," IMF Working Papers 03/162, International Monetary Fund.
    11. Rajiv Krishnan Kozhikode, 2016. "Dormancy as a Strategic Response to Detrimental Public Policy," Organization Science, INFORMS, vol. 27(1), pages 189-206, February.
    12. Benczes, István, 1999. "Fiskális politika a Gazdasági és Monetáris Unióban
      [Fiscal policy in the European Economic and Monetary Union]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 362-379.
    13. van der Hoek, M. Peter, 1998. "From Nation to State: A Difficult Process," MPRA Paper 6039, University Library of Munich, Germany.

  47. Ronald I. McKinnon & Huw Pill, 1996. "The overborrowing syndrome: are East Asian economies different?," Proceedings, Federal Reserve Bank of San Francisco, pages 322-355.

    Cited by:

    1. Allegret, Jean-Pierre & Sandretto, René, 2000. "La nouvelle architecture du système monétaire international," L'Actualité Economique, Société Canadienne de Science Economique, vol. 76(3), pages 437-456, septembre.
    2. Matthew S. Yiu & Alex Ho & Lu Jin, 2009. "Econometric Approach to Early Warnings of Vulnerability in the Banking System and Currency Markets for Hong Kong and Other EMEAP Economies," Working Papers 0908, Hong Kong Monetary Authority.
    3. Bleakley, Hoyt & Cowan, Kevin, 2010. "Maturity mismatch and financial crises: Evidence from emerging market corporations," Journal of Development Economics, Elsevier, vol. 93(2), pages 189-205, November.
    4. Jean-Pierre Allegret & Bernard Courbis & Philippe Dulbecco, 2003. "Financial Liberalization and Stability of the Financial System in Emerging Markets: The Institutional Dimension of Financial Crises," Post-Print hal-01659729, HAL.
    5. McKinnon, Ronald I & Pill, Huw, 1999. "Exchange-Rate Regimes for Emerging Markets: Moral Hazard and International Overborrowing," Oxford Review of Economic Policy, Oxford University Press, vol. 15(3), pages 19-38, Autumn.
    6. Ronald I. McKinnon & Huw Pill, 1998. "International Overborrowing: A Decomposition of Credit and Currency Risks," Working Papers 98004, Stanford University, Department of Economics.
    7. Hoyt Bleakley & Kevin Cowan, 2005. "Corporate Dollar Debt and Depreciations: Much Ado About Nothing?," Research Department Publications 4411, Inter-American Development Bank, Research Department.
    8. Glick, R. & Hutchison, M., 1999. "Banking and Currency Crises: How Common are Twins?," Papers pb99-07, Economisch Institut voor het Midden en Kleinbedrijf-.
    9. Zorobabel Bicaba & Daniel Kapp & Francesco Molteni, 2011. "Stability periods between financial crises : The role of macroeconomic fundamentals and crises management policies," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00639869, HAL.
    10. Hoyt Bleakley & Kevin Cowan, 2005. "Descalce de vencimientos y crisis financieras: elementos de juicio de empresas de mercados emergentes," Research Department Publications 4434, Inter-American Development Bank, Research Department.
    11. Roberto Rigobon, 2001. "The Curse of Non-Investment Grade Countries," NBER Working Papers 8636, National Bureau of Economic Research, Inc.
    12. Hoyt Bleakley & Kevin Cowan, 2005. "Deuda empresarial denominada en dólares y depreciación: ¿mucho ruido y pocas nueces?," Research Department Publications 4412, Inter-American Development Bank, Research Department.
    13. Kevin Cowan & Erwin Hansen & Luis Oscar Herrera, 2005. "Currency Mismatches, Balance-Sheet Effects and Hedging in Chilean Non-Financial Corporations," Research Department Publications 4387, Inter-American Development Bank, Research Department.
    14. Ilan Noy, 2004. "Do IMF Bailouts Result in Moral Hazard? An Events-Study Approach," Working Papers 200402, University of Hawaii at Manoa, Department of Economics.
    15. Reuven Glick, 1998. "Thoughts on the origins of the Asia crisis: impulses and propagation mechanisms," Pacific Basin Working Paper Series 98-07, Federal Reserve Bank of San Francisco.
    16. Kevin Cowan & Erwin Hansen & Luis Oscar Herrera, 2005. "Descalces cambiarios, repercusiones en el balance general y protección contra el riesgo en empresas no financieras chilenas," Research Department Publications 4388, Inter-American Development Bank, Research Department.

  48. McKinnon, Ronald I., 1995. "Intergovernmental competition in Europe with and without a common currency," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 463-478, October.

    Cited by:

    1. Yingyi Qian & Barry R. Weingast, 1997. "Federalism as a Commitment to Reserving Market Incentives," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 83-92, Fall.
    2. David E. Wildasin, 2001. "Externalities and Bailouts: Hard and Soft Budget Constraints in Intergovernmental Fiscal Relations," Public Economics 0112002, University Library of Munich, Germany.
    3. van Riet, Ad, 2016. "Safeguarding the euro as a currency beyond the state," Occasional Paper Series 173, European Central Bank.
    4. Landon, Stuart & Smith, Constance E., 2007. "Government debt spillovers in a monetary union," The North American Journal of Economics and Finance, Elsevier, vol. 18(2), pages 135-154, August.
    5. Chong Ju Choi & Philip Cheng & Brian Hilton, 2004. "European Union: Economic Convergenceversus Social Mobility," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 95(4), pages 427-432, September.
    6. Lars Jonung & Eoin Drea, 2010. "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989–2002," Econ Journal Watch, Econ Journal Watch, vol. 7(1), pages 1-4–52, January.
    7. van Riet, Ad, 2015. "Market-preserving fiscal federalism in the European Monetary Union," MPRA Paper 77772, University Library of Munich, Germany.
    8. Caroline-Antonia Goerl & Mike Seiferling, 2014. "Income Inequality, Fiscal Decentralization and Transfer Dependency," IMF Working Papers 14/64, International Monetary Fund.

  49. McKinnon Ronald I., 1994. "Financial Growth and Macroeconomic Stability in China, 1978-1992: Implications for Russia and Other Transitional Economies," Journal of Comparative Economics, Elsevier, vol. 18(3), pages 438-469, June.

    Cited by:

    1. Russell Smyth & He-Ling Shi, 2002. "Ownership reform and total factor productivity growth in Chinese industry," Applied Economics Letters, Taylor & Francis Journals, vol. 9(2), pages 103-106.
    2. Fung, Michael K. Y. & Ho, Wai-Ming & Zhu, Lijing, 2000. "Stagflationary effect of government bond financing in the transforming Chinese economy: a general equilibrium analysis," Journal of Development Economics, Elsevier, vol. 61(1), pages 111-135, February.

  50. McKinnon, Ronald I, 1994. "A Common Monetary Standard or a Common Currency for Europe? Fiscal Lessons from the United States," Scottish Journal of Political Economy, Scottish Economic Society, vol. 41(4), pages 337-357, November.

    Cited by:

    1. Michael J. Artis, 2002. "Reflections on the Optimal Currency Area (OCA) criteria in the light of EMU," Working Papers 69, Oesterreichische Nationalbank (Austrian Central Bank).
    2. Lars Jonung & Eoin Drea, 2010. "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989–2002," Econ Journal Watch, Econ Journal Watch, vol. 7(1), pages 1-4–52, January.
    3. Peter Nijkamp & Shunli Wang, 1998. "Winners and Losers in the European Monetary Union, A Neural Network Analysis of Spatial Industrial Shifts," Tinbergen Institute Discussion Papers 98-074/3, Tinbergen Institute.
    4. Artis, Michael J & Buti, Marco, 2000. ""Close to Balance or in Surplus": A Policy Maker's Guide to the Implementation of the Stability and Growth Pact," CEPR Discussion Papers 2515, C.E.P.R. Discussion Papers.
    5. Hall, S.G. & Yhap, B., 2008. "Measuring the Correlation of Shocks Between the UK and the Core of Europe," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 17-26, March.

  51. McKinnon, Ronald I, 1993. "The Rules of the Game: International Money in Historical Perspective," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 1-44, March.

    Cited by:

    1. Eichengreen, Barry, 1993. "International Monetary Arrangements for the 21st Century," Center for International and Development Economics Research (CIDER) Working Papers 233202, University of California-Berkeley, Department of Economics.
    2. Ben S Bernanke, 2017. "Federal Reserve Policy in an International Context," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(1), pages 1-32, April.
    3. Borio, Claudio & James, Harold & Shin, Hyun Song, 2014. "The international monetary and financial system: a capital account perspective," Globalization Institute Working Papers 204, Federal Reserve Bank of Dallas.
    4. McKinnon, Ronald I & Pill, Huw, 1999. "Exchange-Rate Regimes for Emerging Markets: Moral Hazard and International Overborrowing," Oxford Review of Economic Policy, Oxford University Press, vol. 15(3), pages 19-38, Autumn.
    5. Claudio Borio & Harold James & Hyun Song Shin, 2014. "The international monetary and financial system: a capital account historical perspective," BIS Working Papers 457, Bank for International Settlements.
    6. Bordo, Michael D. & Schwartz, Anna J., 1999. "Monetary policy regimes and economic performance: The historical record," Handbook of Macroeconomics,in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 3, pages 149-234 Elsevier.
    7. Michael Artis, 1993. "The Role of the Exchange Rate in Monetary Policy - the Experience of Other Countries," RBA Annual Conference Volume,in: Adrian Blundell-Wignall (ed.), The Exchange Rate, International Trade and the Balance of Payments Reserve Bank of Australia.
    8. Jean-Baptiste Desquilbet & Nikolay Nenovsky, 2005. "Confiance et ajustement dans les régimes d'étalon-or et de caisse d'émission," Mondes en développement, De Boeck Université, vol. 130(2), pages 77-93.
    9. Borio, Claudio & Filardo, Andrew J., 2004. "Looking back at the international deflation record," The North American Journal of Economics and Finance, Elsevier, vol. 15(3), pages 287-311, December.
    10. Jean Baptiste Desquilbet & Nikolay Nenovsky, 2004. "Credibility and adjustment: gold standards versus currency boards," William Davidson Institute Working Papers Series 2004-692, William Davidson Institute at the University of Michigan.
    11. Bordo, Michael D. & Humpage, Owen F., 2014. "Federal Reserve policy and Bretton Woods," Globalization Institute Working Papers 206, Federal Reserve Bank of Dallas.
    12. Bhattacharya, Utpal, 2005. "Financial liberalization and the stability of currency pegs," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 351-374, March.
    13. Issing, Otmar & Wieland, Volker, 2012. "Monetary theory and monetary policy: Reflections on the development over the last 150 years," CFS Working Paper Series 2012/20, Center for Financial Studies (CFS).
    14. Filippo Cesarano & Giulio Cifarelli & Gianni Toniolo, 2009. "Exchange Rate Regimes and Reserve Policy on the Periphery: The Italian Lira 1883-1911," Working Papers - Economics wp2009_11.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    15. Pavel Trunin & Sergey Narkevich, 2013. "Prospects for the Russian Ruble to Become Regional Reserve Currency," Working Papers 118, Gaidar Institute for Economic Policy, revised 2015.
    16. Fratianni, Michele & Giri, Federico, 2017. "The tale of two great crises," Journal of Economic Dynamics and Control, Elsevier, vol. 81(C), pages 5-31.
    17. Kenneth P. Jameson, 2005. "Exchange Rate Regimes: Latin American Economic Analysis before the Depression," Working Paper Series, Department of Economics, University of Utah 2005_06, University of Utah, Department of Economics.
    18. Cover James Peery & Pecorino Paul, 2003. "Optimal Monetary Policy and the Correlation between Prices and Output," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-21, February.
    19. Yaroslava Babych, 2011. "Financial Crises and Economic Growth - A Long Run Perspective," Working Papers 003-11, International School of Economics at TSU, Tbilisi, Republic of Georgia.
    20. Kenneth P. Jameson, 2000. "América Latina y el bloque del dólar en el siglo XXI. ¿Dolarizar o no dolarizar?," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, issue 45, pages 9-60.
    21. Richard W. Booser, 2018. "An Algorithm Exploiting Episodes of Inefficient Asset Pricing to Derive a Macro-Foundation Scaled Metric for Systemic Risk: A Time-Series Martingale Representation," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 8(1), pages 1-3.
    22. Jean-François Ponsot, 2009. "New financial architecture and regional monetary integration in Latin America," Post-Print halshs-00390436, HAL.
    23. Pedro Bação & António Portugal Durate & Mariana Simões, 2013. "The International Monetary System in Flux: Overview and Prospects," GEMF Working Papers 2013-07, GEMF, Faculty of Economics, University of Coimbra.
    24. Nicolas Cachanosky, 2014. "The Mises-Hayek business cycle theory, fiat currencies and open economies," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(3), pages 281-299, September.
    25. McKinnon, Ronald I., 1995. "Intergovernmental competition in Europe with and without a common currency," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 463-478, October.
    26. Muchlinski, Elke, 2004. "Kontroversen in der internationalen Währungspolitik: Retrospektive zu Keynes-White-Boughton & IMF," Discussion Papers 2004/1, Free University Berlin, School of Business & Economics.
    27. Adam Hawkins & Jyoti Rahman & Thomas Williamson, 2014. "Is the global financial safety net at a tipping point to fragmentation?," Economic Roundup, The Treasury, Australian Government, issue 1, pages 1-20, April.
    28. Borio, Claudio, 2014. "The international monetary and financial system: its Achilles heel and what to do about it," Globalization Institute Working Papers 203, Federal Reserve Bank of Dallas.
    29. Fernando Alexandre & Luís Aguiar Conraria & Pedro Bação & Miguel Portela, 2011. "A Poupança em Portugal," GEMF Working Papers 2011-19, GEMF, Faculty of Economics, University of Coimbra.
    30. Claude B. Erb & Campbell R. Harvey, 2013. "The Golden Dilemma," NBER Working Papers 18706, National Bureau of Economic Research, Inc.
    31. Muchlinski, Elke, 2003. "Against rigid rules: Keynes's economic theory," Discussion Papers 2003/2, Free University Berlin, School of Business & Economics.
    32. Ivar Bredesen & Lukas Menkhoff & Daniel Piazolo & Roger Svensson & Axel Schimmelpfennig & Karsten Junius, 1997. "Rezensionen," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 133(4), pages 754-768, December.
    33. Sok Heng Lay & Makoto Kakinaka & Koji Kotani, 2010. "Exchange Rate Movements in a Dollarized Economy: The Case of Cambodia," Working Papers EMS_2010_18, Research Institute, International University of Japan.
    34. Dwarkasing, N.R.D., 2014. "Essays on historical banking," Other publications TiSEM c101ecf0-6709-4fb7-a27a-4, Tilburg University, School of Economics and Management.
    35. Yilmaz, Kamil, 2003. "Martingale Property of Exchange Rates and Central Bank Interventions," Journal of Business & Economic Statistics, American Statistical Association, vol. 21(3), pages 383-395, July.
    36. Jean-François Ponsot, 2009. "How could the Bank of the South promote sustainable development and regional monetary integration in Latin America ?," Post-Print halshs-00402260, HAL.
    37. Filippo Cesarano & Giulio Cifarelli & Gianni Toniolo, 2012. "Exchange Rate Regimes and Reserve Policy: The Italian Lira, 1883–1911," Open Economies Review, Springer, vol. 23(2), pages 253-275, April.
    38. Nikiforos Laopodis, 2001. "Time-Varying Behavior and Asymmetry in EMS Exchange Rates," International Economic Journal, Taylor & Francis Journals, vol. 15(4), pages 81-94.
    39. Narkevich, Siarhei & Trunin, Pavel, 2013. "Prospects for the Russian Ruble as a Regional Reserve Currency," Published Papers dok2, Russian Presidential Academy of National Economy and Public Administration.
    40. Sergey Narkevich & Pavel Trunin, 2012. "Reserve Currencies: Factors of Evolution and their Role in the World Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 162P.
    41. Matthias Morys, 2006. "Adjustment under the Classical Gold Standard: How costly did the external constraint come to the European periphery?," Working Papers 6009, Economic History Society.
    42. Yinusa, Dauda Olalekan, 2008. "Between dollarization and exchange rate volatility: Nigeria's portfolio diversification option," Journal of Policy Modeling, Elsevier, vol. 30(5), pages 811-826.
    43. Kondonassis, Alex J. & Malliaris, A. G., 1996. "NAFTA: Old and new lessons from theory and practice with economic integration," The North American Journal of Economics and Finance, Elsevier, vol. 7(1), pages 31-41.
    44. Michael D. Bordo & Anna J. Schwartz, 1994. "The Specie Standard as a Contingent Rule: Some Evidence for Core and Peripheral Countries, 1880-1990," NBER Working Papers 4860, National Bureau of Economic Research, Inc.
    45. Jean Dermine, 1996. "European Banking with a Single Currency," Center for Financial Institutions Working Papers 96-54, Wharton School Center for Financial Institutions, University of Pennsylvania.

  52. McKinnon, Ronald I, 1992. "Taxation, Money, and Credit, in a Liberalizing Socialist Economy," Economic Change and Restructuring, Springer, vol. 25(1), pages 97-112.

    Cited by:

    1. Bilin Neyapti, 2000. "Central bank Independence and Economic Performance in Eastern Europe," Working Papers 0007, Department of Economics, Bilkent University.
    2. ter Horst, H.A.F., 1996. "Socialism, Capitalism, and Transition with Special Reference to Poland," Other publications TiSEM 58e2e881-80c1-45a0-8ce8-7, Tilburg University, School of Economics and Management.
    3. Blommstein, Hans J. & Spencer, Michael G., 1996. "Sound finance and the wealth of nations," The North American Journal of Economics and Finance, Elsevier, vol. 7(2), pages 115-124.
    4. Raiser, Martin, 1992. "Soft budget constraints: An institutional interpretation of stylised facts in economic transformation in Central Eastern Europe," Kiel Working Papers 549, Kiel Institute for the World Economy (IfW).

  53. McKinnon, Ronald I, 1992. "Spontaneous Order on the Road Back from Socialism: An Asian Perspective," American Economic Review, American Economic Association, vol. 82(2), pages 31-36, May.

    Cited by:

    1. Bruno Schönfelder, 2016. "The evolution of law under communism and post-communism: a system-theory analysis in the spirit of Luhmann," Financial Theory and Practice, Institute of Public Finance, vol. 40(3), pages 293-318.
    2. Andreas Hoffmann & Björn Urbansky, 2015. "Policy Shifts and Financial Instability in Emerging Markets," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 455-469, August.
    3. Chen, Kang, 2004. "Fiscal centralization and the form of corruption in China," European Journal of Political Economy, Elsevier, vol. 20(4), pages 1001-1009, November.
    4. Scott Jackson, 2015. "Standardizing the selection of countries for benchmarking," Regional Science Policy & Practice, Wiley Blackwell, vol. 7(1), pages 49-60, March.
    5. Li, Hongbin & Rozelle, Scott, 2001. "Insider Privatization With A Tail: The Buyout Price And Performance Of Privatized Firms In Rural China," Working Papers 11968, University of California, Davis, Department of Agricultural and Resource Economics.
    6. Andreas Hoffmann & Gunther Schnabl, 2018. "Warum der frühe Ausstieg aus der finanziellen Repression lohnt
      [Why an Early Exit from Financial Repression is Worthwhile]
      ," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 98(7), pages 498-503, July.

  54. Ronald I. McKinnon, 1991. "Financial Control in the Transition from Classical Socialism to a Market Economy," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 107-122, Fall.

    Cited by:

    1. Alexandru Minea & Patrick Villieu, 2007. "Long-Run Monetary and Fiscal Policy Trade-Off in an Endogenous Growth Model with Transaction Costs," Post-Print halshs-00371184, HAL.
    2. Dandume, Muhammad Yusuf & A.C., Dr.Malarvizhi, 2014. "Does Financial Liberalization, Spur Economic Growth and Poverty Reduction in Six Sub-Saharan African Countries; Panel Unit Root and Panel Vector Error Correction Tests," MPRA Paper 52349, University Library of Munich, Germany, revised Aug 2013.
    3. Wang, Yijiang & Chang, Chun, 1998. "Economic transition under a semifederalist government: The experience of China," China Economic Review, Elsevier, vol. 9(1), pages 1-23.
    4. James Laurenceson & J. C. H. Chai, 2001. "State banks and economic development in China," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(2), pages 211-225.
    5. Noland, Marcus & Son, Hyun H., 2012. "Editors’ introduction transitional economies: Progress and pitfalls," Journal of Asian Economics, Elsevier, vol. 23(2), pages 107-110.
    6. Lin He & Calum Turvey, 2009. "Financial repression in China's agricultural economy," China Agricultural Economic Review, Emerald Group Publishing, vol. 1(3), pages 260-274, May.
    7. Filippov, Mikhail G, 2002. "Russian Voting and the Initial Economic Shock of Hyperinflation," Public Choice, Springer, vol. 111(1-2), pages 73-104, March.
    8. Levine, Ross & Scott, David, 1992. "Old debts and new beginnings : a policy choice in transitional socialist economies," Policy Research Working Paper Series 876, The World Bank.
    9. Anna Meyendorff & Edward A. Snyder, 1997. "Transactional Structures of Bank Privatization in Central Europe and Russia," William Davidson Institute Working Papers Series 2, William Davidson Institute at the University of Michigan.
    10. Yosem E. Companys, 1997. "Institution-Building: Financial Sector Reform in Cuba," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 7.
    11. Sasidaran Gopalan, 2015. "Financial Liberalization and Foreign Bank Entry in Emerging and Developing Economies: What Does the Literature Tell Us?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 6(02), pages 1-25.
    12. Fardmanesh, Mohsen & Tan, Li, 1996. "Wage and Price Control Policies in Socialist Transitional Economies," Center Discussion Papers 28515, Yale University, Economic Growth Center.
    13. Pastor, Manuel Jr & Zimbalist, Andrew, 1995. "Waiting for change: Adjustment and reform in Cuba," World Development, Elsevier, vol. 23(5), pages 705-720, May.
    14. Dr James Laurenceson, 2002. "External Financial Liberalization and Foreign Debt in China," Discussion Papers Series 304, School of Economics, University of Queensland, Australia.
    15. Jorge Martinez-Vazquez & Robert McNab, 2000. "Tax Reform in The Tax Reform Experiment in Transitional Countries," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0001, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    16. Alexandru Minea & Patrick Villieu, 2010. "Financial Development, Institutional Quality and Maximizing-Growth Trade-Off in Government Finance," Post-Print hal-00488706, HAL.
    17. Bhattacharyya, Anjana & Bhattacharyya, Arunava & Kumbhakar, Subal C., 1997. "Changes in Economic Regime and Productivity Growth: A Study of Indian Public Sector Banks," Journal of Comparative Economics, Elsevier, vol. 25(2), pages 196-219, October.
    18. Alexandru MINEA & Patrick VILLIEU, 2010. "Développement Financier, Qualité Institutionnelle Et Croissance : Un Modèle Simple Avec Effets De Seuil," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 32, pages 31-58.
    19. Buch, Claudia M. & Hiemenz, Ulrich & Koop, Michael J. & Lücke, Matthias & Schrader, Klaus & Engerer, Hella & Schrettl, Wolfram & Schrooten, Mechthild & Weißenburger, Ulrich & Gabrisch, Hubert & Sigmun, 1994. "Die wirtschaftliche Lage Rußlands: Beschleunigte Talfahrt durch verschleppte Reformen. Vierter Bericht," Kiel Discussion Papers 232, Kiel Institute for the World Economy (IfW).
    20. Jorge Martinez-Vazquez & Robert McNab, 1997. "Tax Reform in Transition Economies: Experiences and Lessons," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper9706, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    21. Claessens, Stijn, 1996. "Banking reform in transition countries," Policy Research Working Paper Series 1642, The World Bank.
    22. Stephan, Paul III, 1996. "Toward a positive theory of privatization--lessons from soviet-type economies," International Review of Law and Economics, Elsevier, vol. 16(2), pages 173-193, June.
    23. McLure, Charles E., Jr., 1991. "A consumption-based direct tax for countries in transition from socialism," Policy Research Working Paper Series 751, The World Bank.
    24. Adnan Kasman & Kamila Mekenbayeva, 2016. "Technical Efficiency and Total Factor Productivity in the Kazakh Banking Industry," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 66(4), pages 685-709, December.
    25. Evgeni Peev, 2015. "Institutions, economic liberalization and firm growth: evidence from European transition economies," European Journal of Law and Economics, Springer, vol. 40(1), pages 149-174, August.
    26. Turhan, Ibrahim M., 2008. "Why did it work this time: a comparative analysis of transformation of Turkish economy after 2002," MPRA Paper 31158, University Library of Munich, Germany.
    27. Fardmanesh, Mohsen & Tan, Li, 2003. "Wage and price control policies in transition economies," Journal of Development Economics, Elsevier, vol. 70(1), pages 173-200, February.
    28. Gluzmann, Pablo & Guzman, Martin, 2017. "Assessing the robustness of the relationship between financial reforms and banking crises," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 49(C), pages 32-47.
    29. Francisco D. A. Nadal De Simone, 1995. "A Macroeconomic Perspective Of Afta'S Problems And Prospects," Contemporary Economic Policy, Western Economic Association International, vol. 13(2), pages 49-62, April.
    30. Timo Baas, 2006. "Die Disparität der Sparquoten Ost- und Westdeutschlands: kann der spezifische ostdeutsche Transformationsprozess die Abweichung erklären?," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 75(4), pages 121-134.
    31. Bogetic, Zeljko & Hillman, Arye L., 1994. "The tax base in transition : the case of Bulgaria," Policy Research Working Paper Series 1267, The World Bank.
    32. Hasan, Iftekhar & Marton, Katherin, 2003. "Development and efficiency of the banking sector in a transitional economy: Hungarian experience," Journal of Banking & Finance, Elsevier, vol. 27(12), pages 2249-2271, December.
    33. Fung, Michael K. Y. & Ho, Wai-Ming & Zhu, Lijing, 2000. "Stagflationary effect of government bond financing in the transforming Chinese economy: a general equilibrium analysis," Journal of Development Economics, Elsevier, vol. 61(1), pages 111-135, February.
    34. Son Ku Kim & Keunkwan Ryu, 2001. "Joint Determination of Internal Organizational Design: Decision-Making, Task Allocation, and Incentive Scheme," ISER Discussion Paper 0550, Institute of Social and Economic Research, Osaka University.
    35. Baer, Herbert L. & Gray, Cheryl W., 1995. "Debt as a control device in transitional economies : the experiences of Hungary and Poland," Policy Research Working Paper Series 1480, The World Bank.

  55. Ronald McKinnon, 1990. "The exchange rate and the trade balance," Open Economies Review, Springer, vol. 1(1), pages 17-37, February.

    Cited by:

    1. Thi Anh-Dao Tran & Thi Thanh Binh Dinh, 2014. "FDI inflows and trade imbalances: evidence from developing Asia," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 11(1), pages 147-169, June.
    2. Drabek, Zdenek & Brada, Josef C., 1998. "Exchange Rate Regimes and the Stability of Trade Policy in Transition Economies," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 642-668, December.
    3. Salvatore, Dominick, 2006. "Twin deficits in the G-7 countries and global structural imbalances," Journal of Policy Modeling, Elsevier, vol. 28(6), pages 701-712, September.
    4. Pál Péter Kolozsi, 2011. "Libéralisation commerciale et politique de change : possibilités et contraintes dans une petite économie ouverte – le cas de la Hongrie," Sciences Po publications info:hdl:2441/53r60a8s3ku, Sciences Po.
    5. Qiao, Hong, 2007. "Exchange rates and trade balances under the dollar standard," Journal of Policy Modeling, Elsevier, vol. 29(5), pages 765-782.

  56. Ronald McKinnon, 1990. "Why floating exchange rates fall: A reconsideration of the liquidity trap," Open Economies Review, Springer, vol. 1(3), pages 229-250, October.

    Cited by:

    1. de Groof, R.J. & van Tuijl, M.A., 1993. "The twin-debt problem in an interdependent world," Research Memorandum FEW 588, Tilburg University, School of Economics and Management.
    2. de Groof, R.J. & van Tuijl, M.A., 1991. "Financial integration and fiscal policy in interdependent two-sector economies with real and nominal wage rigidity," Research Memorandum FEW 526, Tilburg University, School of Economics and Management.
    3. de Groof, R.J. & van Tuijl, M.A., 1992. "Commercial integration and fiscal policy in interdependent, financially integrated two-sector economies with real and nominal wage rigidity," Research Memorandum FEW 567, Tilburg University, School of Economics and Management.

  57. RONALD I. McKINNON, 1990. "Interest Rate Volatility And Exchange Risk: New Rules For A Common Monetary Standard," Contemporary Economic Policy, Western Economic Association International, vol. 8(2), pages 1-17, April.

    Cited by:

    1. Eichengreen, Barry, 1993. "International Monetary Arrangements for the 21st Century," Center for International and Development Economics Research (CIDER) Working Papers 233202, University of California-Berkeley, Department of Economics.
    2. Lawrence Goldberg & James Lothian & John Okunev, 2003. "Has International Financial Integration Increased?," Open Economies Review, Springer, vol. 14(3), pages 299-317, July.
    3. Ronald McKinnon, 1990. "Why floating exchange rates fall: A reconsideration of the liquidity trap," Open Economies Review, Springer, vol. 1(3), pages 229-250, October.
    4. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    5. Claessens, Stijn & Kose, Ayhan, 2017. "Asset Prices and Macroeconomic Outcomes: A Survey," CEPR Discussion Papers 12460, C.E.P.R. Discussion Papers.
    6. MKC Jackson, 2002. "Reserve Bank Independence : A Post Keynesian Perspective," South African Journal of Economics, Economic Society of South Africa, vol. 70(1), pages 29-52, March.

  58. McKinnon, Ronald I, 1989. "Financial Liberalization and Economic Development: A Reassessment of Interest-Rate Policies in Asia and Latin America," Oxford Review of Economic Policy, Oxford University Press, vol. 5(4), pages 29-54, Winter.

    Cited by:

    1. International Monetary Fund, 2008. "Kingdom of Swaziland; Selected Issues and Statistical Appendix," IMF Staff Country Reports 08/355, International Monetary Fund.
    2. Xu, Lilai & Oh, K.B., 2011. "The stock market in China: An endogenous adjustment process responding to the demands of economic reform and growth," Journal of Asian Economics, Elsevier, vol. 22(1), pages 36-47, February.
    3. Thomas Barnebeck Andersen & Finn Tarp, 2003. "Financial liberalization, financial development and economic growth in LDCs," Journal of International Development, John Wiley & Sons, Ltd., vol. 15(2), pages 189-209.
    4. Serife Ozsahin & Dogan Uysal, 2017. "Financial Deepening and Economic Development in MENA Countries: Empirical Evidence from the Advanced Panel Method," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(4), pages 152-162, April.
    5. Bhattacharya, Rina, 1997. "Pace, sequencing and credibility of structural reforms," World Development, Elsevier, vol. 25(7), pages 1045-1061, July.
    6. JJ. Cao-Alvira & LG Deidda, 2013. "Financial liberalization and the development of microcredit," Working Paper CRENoS 201324, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    7. Felix Eschenbach, 2004. "Finance and Growth: A Survey of the Theoretical and Empirical Literature," Tinbergen Institute Discussion Papers 04-039/2, Tinbergen Institute.
    8. Bhide, M G & Prasad, A & Ghosh, Saibal, 2001. "Emerging Challenges in Indian Banking," MPRA Paper 1711, University Library of Munich, Germany.

  59. Ronald I. McKinnon & Kenichi Ohno, 1988. "Purchasing power parity as a monetary standard," Proceedings, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Ronald McKinnon, 1990. "The exchange rate and the trade balance," Open Economies Review, Springer, vol. 1(1), pages 17-37, February.

  60. McKinnon, Ronald I, 1988. "Monetary and Exchange Rate Policies for International Financial Stability: A Proposal," Journal of Economic Perspectives, American Economic Association, vol. 2(1), pages 83-103, Winter.

    Cited by:

    1. Guglielmo Caporale & Michael Chui & Stephen Hall & Brian Henry, 2003. "Evaluating the Gains to Cooperation in the G-3," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 30(4), pages 337-356, December.
    2. Richard C. Marston, 1992. "Interest Differentials Under Fixed and Flexible Exchange Rates: The Effects of Capital Controls and Exchange Risk," NBER Working Papers 4053, National Bureau of Economic Research, Inc.
    3. Alessandra Bonfiglioli & Caterina Mendicino, 2005. "Financial Liberalization, Bank Crises and Growth: Assessing the links," Departmental Working Papers of Economics - University 'Roma Tre' 0044, Department of Economics - University Roma Tre.
    4. Adenutsi, Deodat E., 2010. "Financial development, bank savings mobilization and economic performance in Ghana: evidence from a multivariate structural VAR," MPRA Paper 29571, University Library of Munich, Germany.
    5. J. Fackler & L. Filer, 2004. "Exchange Rate Targeting and Economic Stabilization," Econometric Society 2004 Far Eastern Meetings 565, Econometric Society.
    6. McKinnon, Ronald I., 1995. "Intergovernmental competition in Europe with and without a common currency," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 463-478, October.
    7. Collinge, Robert A., 1994. "Dampening exchange rate volatility: A micro alternative to macro policies," Journal of Policy Modeling, Elsevier, vol. 16(1), pages 113-118, February.
    8. Frankel, Jeffrey A, 1996. "Recent Exchange-Rate Experience and Proposals for Reform," American Economic Review, American Economic Association, vol. 86(2), pages 153-158, May.
    9. Edwin M. Truman, 1989. "International economic policy: the role of exchange rates," International Finance Discussion Papers 356, Board of Governors of the Federal Reserve System (U.S.).
    10. Langfeldt, Enno & Scheide, Joachim & Trapp, Peter, 1988. "Inflationsgefahren werden größer - Welchen Kurs soll die Geldpolitik steuern? Thesen zum 38. Kieler Konjunkturgespräch," Open Access Publications from Kiel Institute for the World Economy 394, Kiel Institute for the World Economy (IfW).
    11. Ádám Török & Boglárka Konka, 2018. "Episode or Hysteresis? Some Theoretical and Policy Lessons from the Crisis of 2008," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 68(supplemen), pages 45-70, November.
    12. Siebert, Horst, 1988. "Monetäres Gleichgewicht und Mechanismen zum Ausgleich der Zahlungsbilanz," Discussion Papers, Series II 71, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    13. John B. Taylor, 1989. "Policy Analysis With a Multicountry Model," NBER Working Papers 2881, National Bureau of Economic Research, Inc.
    14. Salvatore, Dominick, 1995. "The international monetary system: Are present arrangements optimal? Editor's introduction," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 443-448, October.
    15. RONALD I. McKINNON, 1990. "Interest Rate Volatility And Exchange Risk: New Rules For A Common Monetary Standard," Contemporary Economic Policy, Western Economic Association International, vol. 8(2), pages 1-17, April.
    16. Rudiger W. Dornbusch, 1988. "The adjustment mechanism: theory and problems," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 32, pages 195-228.
    17. Bonfiglioli, Alessandra & Mendicino, Caterina, 2004. "Financial Liberalization, Banking Crises and Growth: Assessing the Links," SSE/EFI Working Paper Series in Economics and Finance 567, Stockholm School of Economics.
    18. Kim, Jin-Ock, 1990. "A time series analysis of the real exchange rate movement in Korea," ISU General Staff Papers 1990010108000010378, Iowa State University, Department of Economics.
    19. Frankel, Jeffrey, 1991. "The Making of Exchange Rate Policy in the 1980s," Department of Economics, Working Paper Series qt42w688hs, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    20. Hallberg, Milton C. & Herendeen, James B., 1996. "Macroeconomic Policy and Agricultural Cycles in Australia and the United States," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 64(01), pages 1-15, April.
    21. Dominick Salvatore, 1998. "International Monetary and Financial Arrangements: Present and Future," Open Economies Review, Springer, vol. 9(1), pages 375-416, January.
    22. Dominick Salvatore, 2000. "The Present International Monetary System: Problems, Complications, and Reforms," Open Economies Review, Springer, vol. 11(1), pages 133-148, August.
    23. Su Zhou, 1993. "Fundamental equilibrium exchange rates and exchange rate dynamics," Open Economies Review, Springer, vol. 4(2), pages 189-209, June.
    24. DRAGOE Sebastian-Ilie, 2014. "Global Financial Crisis And The International Monetary System," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 66(1), pages 71-90.
    25. Robert Aliber, 2000. "Capital Flows, Exchange Rates, and the New International Financial Architecture: Six Financial Crises in Search of a Generic Explanation," Open Economies Review, Springer, vol. 11(1), pages 43-61, August.
    26. Hasan, Shahriar & Wallace, Myles, 1996. "Real exchange rate volatility and exchange rate regimes: Evidence from long-term data," Economics Letters, Elsevier, vol. 52(1), pages 67-73, July.
    27. Salvatore, Dominick, 1995. "The operation and future of the international monetary system," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 513-530, October.
    28. Langfeldt, Enno & Scheide, Joachim & Trapp, Peter, 1988. "Is money supply targeting obsolete?," Kiel Working Papers 338, Kiel Institute for the World Economy (IfW).

  61. Ronald I. McKinnon, 1988. "An International Gold Standard without Gold," Cato Journal, Cato Journal, Cato Institute, vol. 8(2), pages 351-392, Fall.

    Cited by:

    1. Bordo, Michael D. & Schwartz, Anna J., 1999. "Monetary policy regimes and economic performance: The historical record," Handbook of Macroeconomics,in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 3, pages 149-234 Elsevier.
    2. Eichengreen, Barry, 1994. "Deja Vu All Over Again: Lessons from the Gold Standard for European Monetary Unification," Center for International and Development Economics Research (CIDER) Working Papers 233215, University of California-Berkeley, Department of Economics.
    3. Bordo, Michael D. & Jonung, Lars, 2000. "A Return to the Convertibility Principle? Monetary And Fiscal Regimes in Historical Perspective," SSE/EFI Working Paper Series in Economics and Finance 415, Stockholm School of Economics.
    4. Ronald McKinnon, 1990. "Why floating exchange rates fall: A reconsideration of the liquidity trap," Open Economies Review, Springer, vol. 1(3), pages 229-250, October.
    5. Michael Bordo, 1993. "The Gold Standard, Bretton Woods and other Monetary Regimes: An Historical Appraisal," NBER Working Papers 4310, National Bureau of Economic Research, Inc.
    6. Michael D. Bordo & Lars Jonung, 1996. "Monetary Regimes, Inflation And Monetary Reform: An Essay in Honor of Axel Leijonhufvud," Departmental Working Papers 199407, Rutgers University, Department of Economics.
    7. Michael D. Bordo & Barry Eichengreen & Jongwoo Kim, 1998. "Was There Really an Earlier Period of International Financial Integration Comparable to Today?," NBER Working Papers 6738, National Bureau of Economic Research, Inc.

  62. McKinnon, Ronald I., 1985. "U.S monetary policy and the dollar exchange rate," Proceedings, Federal Reserve Bank of San Francisco, issue 7, pages 161-214.

    Cited by:

    1. Arize, A. C. & Shwiff, Steven S., 1998. "The appropriate exchange-rate variable in the money demand of 25 countries: an empirical investigation," The North American Journal of Economics and Finance, Elsevier, vol. 9(2), pages 169-185, December.

  63. McKinnon, Ronald I, et al, 1984. "International Influences on the U.S. Economy: Summary of an Exchange," American Economic Review, American Economic Association, vol. 74(5), pages 1132-1134, December.

    Cited by:

    1. Levan Efremidze & John Rutledge & Thomas D. Willett, 2016. "Capital Flow Surges As Bubbles: Behavioral Finance And Mckinnon’S Over-Borrowing Syndrome Extended," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-27, June.
    2. Richard G. Sheehan, 1987. "Does U. S. money growth determine money growth in other nations?," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 5-14.
    3. Nidhal Mgadmi & Houssem Rachdi & Hichem Saidi & Khaled Guesmi, 2019. "On the Instability of Tunisian Money Demand: Some Empirical Issues with Structural Breaks," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 17(1), pages 153-165, March.
    4. C. P. Barros & João Ricardo Faria & Luis A. Gil-Alana, 2017. "The demand for money in Angola," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 41(2), pages 408-420, April.
    5. Akinlo, A. Enisan, 2006. "The stability of money demand in Nigeria: An autoregressive distributed lag approach," Journal of Policy Modeling, Elsevier, vol. 28(4), pages 445-452, May.
    6. Bahmani-Oskooee, Mohsen & Shabsigh, Ghiath, 1996. "The demand for money in Japan: Evidence from cointegration analysis," Japan and the World Economy, Elsevier, vol. 8(1), pages 1-10, March.

  64. McKinnon, Ronald & Tan, Kong-Yam, 1983. "Currency Substitution and Instability in the World Dollar Standard: Reply," American Economic Review, American Economic Association, vol. 73(3), pages 474-476, June.

    Cited by:

    1. Levan Efremidze & John Rutledge & Thomas D. Willett, 2016. "Capital Flow Surges As Bubbles: Behavioral Finance And Mckinnon’S Over-Borrowing Syndrome Extended," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-27, June.
    2. McKenzie, C. R., 1992. "Money demand in an open economy," Journal of the Japanese and International Economies, Elsevier, vol. 6(2), pages 176-198, June.
    3. Muhammad Arshad Khan & Muhammad Zabir Sajjid, 2005. "The Exchange Rates and Monetary Dynamics in Pakistan: An Autoregressive Distributed Lag (ARDL) Approach," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 10(2), pages 87-99, Jul-Dec.
    4. Kevin S. Nell, 1999. "The Stability of Money Demand in South Africa, 1965-1997," Studies in Economics 9905, School of Economics, University of Kent.
    5. Alberto Giovannini & Bart Turtelboom, 1992. "Currency Substitution," NBER Working Papers 4232, National Bureau of Economic Research, Inc.

  65. McKinnon, Ronald I, 1982. "Currency Substitution and Instability in the World Dollar Standard," American Economic Review, American Economic Association, vol. 72(3), pages 320-333, June.

    Cited by:

    1. Levan Efremidze & John Rutledge & Thomas D. Willett, 2016. "Capital Flow Surges As Bubbles: Behavioral Finance And Mckinnon’S Over-Borrowing Syndrome Extended," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-27, June.
    2. Rudiger Dornbusch & Stanley Fischer, 1986. "The Open Economy: Implications for Monetary and Fiscal Policy," NBER Chapters,in: The American Business Cycle: Continuity and Change, pages 459-516 National Bureau of Economic Research, Inc.
    3. LEBRE DE FREITAS Miguel, "undated". "Currency Substitution and Money Demand in Euroland," EcoMod2003 330700087, EcoMod.
    4. Adeniji, Sesan, 2013. "Investigating the Relationship between Currency Substitution, Exchange Rate and Inflation in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach," MPRA Paper 52551, University Library of Munich, Germany, revised 28 Dec 2013.
    5. Tsang, Shu-ki & Ma, Yue, 2002. "Currency substitution and speculative attacks on a currency board system," Journal of International Money and Finance, Elsevier, vol. 21(1), pages 53-78, February.
    6. C. Bjørnland, Hilde, 2003. "A stable demand for money despite financial crisis: The case of Venezuela," Memorandum 12/2003, Oslo University, Department of Economics.
    7. Yildirim, Julide, 2003. "Currency Substitution and the Demand for Money in Five European Union Countries," Journal of Applied Economics, Universidad del CEMA, vol. 6(2), pages 1-23, November.
    8. Ramos Francia Manuel & Noriega Antonio E. & Rodríguez-Pérez Cid Alonso, 2015. "The Use of Monetary Aggregates as Indicators of the Future Evolution of Consumer Prices: Monetary Growth and Inflation Target," Working Papers 2015-14, Banco de México.
    9. Laure Frey & Benoît Mojon, 2009. "Le dollar et l’inflation mondiale," Revue d'Économie Financière, Programme National Persée, vol. 94(1), pages 81-106.
    10. Joao Sousa & Andrea Zaghini, 2007. "Monetary Policy Shocks in the Euro Area and Global Liquidity Spillovers," Temi di discussione (Economic working papers) 629, Bank of Italy, Economic Research and International Relations Area.
    11. Richard G. Sheehan, 1987. "Does U. S. money growth determine money growth in other nations?," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 5-14.
    12. Miguel Lebre de Freitas, 2006. "Eu-Wide Money And Currency Substitution," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(4), pages 48-63, November.
    13. Ciccarelli, Matteo & Mojon, Benoît, 2006. "Global Inflation," Kiel Working Papers 1337, Kiel Institute for the World Economy (IfW).
    14. Kenneth S. Rogoff, 1983. "Productive and counterproductive cooperative monetary policies," International Finance Discussion Papers 233, Board of Governors of the Federal Reserve System (U.S.).
    15. Virén, Matti, 1989. "Currency substitution, financial innovations and money demand," Research Discussion Papers 31/1989, Bank of Finland.
    16. Nicoletti-Altimari, Sergio, 2001. "Does money lead inflation in the euro area?," Working Paper Series 63, European Central Bank.
    17. McKenzie, C. R., 1992. "Money demand in an open economy," Journal of the Japanese and International Economies, Elsevier, vol. 6(2), pages 176-198, June.
    18. Ronald McKinnon, 2010. "Rehabilitating the unloved dollar standard," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 24(2), pages 1-18, November.
    19. Lucas Papademos, 2013. "Panel Session II remarks, The Great Inflation: Lessons for Central Banks," NBER Chapters,in: The Great Inflation: The Rebirth of Modern Central Banking, pages 503-511 National Bureau of Economic Research, Inc.
    20. Adenutsi, Deodat E., 2007. "The policy dilemma of economic openness and seigniorage-maximizing inflation in dollarised developing countries: The Ghanaian experience," MPRA Paper 37134, University Library of Munich, Germany.
    21. McKinnon, Ronald, 2012. "Carry trades, interest differentials, and international monetary reform," Journal of Policy Modeling, Elsevier, vol. 34(4), pages 549-567.
    22. Lee, Seohyun, 2017. "Three essays on uncertainty: real and financial effects of uncertainty shocks," MPRA Paper 83617, University Library of Munich, Germany.
    23. Yu Hsing, 2006. "Tests of Functional Forms, Currency Substitution, and Capital Mobility of Czech Money Demand Function," Prague Economic Papers, University of Economics, Prague, vol. 2006(4), pages 291-299.
    24. Nedeljković, Milan & Urošević, Branko, 2012. "Determinants of the Dinar-Euro Nominal Exchange Rate," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 121-141, September.
    25. Metin-Özcan, Kıvılcım & Us, Vuslat, 2007. "Dedollarization in Turkey after decades of dollarization: A myth or reality?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 385(1), pages 292-306.
    26. Carlo Monticelli & Marc-Olivier Strauss-Kahn, 1992. "European integration and the demand for broad money," BIS Working Papers 18, Bank for International Settlements.
    27. Aviral Tiwari & Niyati Bhanja & Arif Dar & Olaolu Olayeni, 2015. "Analyzing Time–Frequency Based Co-movement in Inflation: Evidence from G-7 Countries," Computational Economics, Springer;Society for Computational Economics, vol. 45(1), pages 91-109, January.
    28. Farrokh Nourzad, 1997. "The Short-and Long-Run Relationships Between the Exchange Rate of the Dollar and Producer Prices in the U.S," International Economic Journal, Taylor & Francis Journals, vol. 11(2), pages 59-71.
    29. Maurice Obstfeld, 2015. "Trilemmas and trade-offs: living with financial globalisation," BIS Working Papers 480, Bank for International Settlements.
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    32. Visser, H., 1989. "The demand for money," Serie Research Memoranda 0073, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    33. Lorenzo Bini-Smaghi & Silvia Vori, 1993. "Is there a “triffin dilemma” for the EMS?," Open Economies Review, Springer, vol. 4(2), pages 175-188, June.
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    35. Abdur Chowdhury, 1995. "The demand for money in a small open economy: The case of Switzerland," Open Economies Review, Springer, vol. 6(2), pages 131-144, April.
    36. Sousa, Joao Miguel & Zaghini, Andrea, 2007. "Global monetary policy shocks in the G5: A SVAR approach," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 17(5), pages 403-419, December.
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    38. Spencer, Peter, 1997. "Monetary integration and currency substitution in the EMS: The case for a European monetary aggregate," European Economic Review, Elsevier, vol. 41(7), pages 1403-1419, July.
    39. António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2008. "Exchange Rate and Interest Rate Volatility in a Target Zone: The Portuguese Case," GEMF Working Papers 2008-03, GEMF, Faculty of Economics, University of Coimbra.
    40. Calza, Alessandro & Sousa, João, 2003. "Why has broad money demand been more stable in the euro area than in other economies? A literature review," Working Paper Series 261, European Central Bank.
    41. Nyahoho, Emmanuel, 1995. "La concurrence de monnaies dans un marché financier dématérialisé," L'Actualité Economique, Société Canadienne de Science Economique, vol. 71(3), pages 334-364, septembre.
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    43. Jaime R. Marquez, 1985. "Currency substitution and the new divisia monetary aggregates : the U. S. case," International Finance Discussion Papers 257, Board of Governors of the Federal Reserve System (U.S.).
    44. Yu Hsing, 2007. "Currency Substitution, Capital Mobility and Functional Forms of Money Demand in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(1), pages 35-48, Jan-Jun.
    45. Hans Groeneveld, 1995. "Monetary Spill-over Effects in the ERM: The Case of Austria, a Former Shadow Member," Working Papers 20, Oesterreichische Nationalbank (Austrian Central Bank).
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    47. Kamleshan Pillay & Jorge E. Viñuales, 2016. "“Monetary” rules for a linked system of offset credits," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 16(6), pages 933-951, December.
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    49. Claudiu Tiberiu Albulescu & Dominique P'epin & Stephen Miller, 2017. "The micro-foundations of an open economy money demand: An application to the Central and Eastern European countries," Papers 1704.01840, arXiv.org.
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    53. Casto Martin Montero Kuscevic & Darius Daniel Martin, 2015. "Dollarization and money demand stability in Bolivia," Economics and Business Letters, Oviedo University Press, vol. 4(3), pages 116-122.
    54. Hossfeld, Oliver & Pramor, Marcus, 2018. "Global liquidity and exchange market pressure in emerging market economies," Discussion Papers 05/2018, Deutsche Bundesbank.
    55. Alami, Tarik H., 2001. "Currency substitution versus dollarization: A portfolio balance model," Journal of Policy Modeling, Elsevier, vol. 23(4), pages 473-479, May.
    56. Sok Heng Lay & Makoto Kakinaka & Koji Kotani, 2010. "Exchange Rate Movements in a Dollarized Economy: The Case of Cambodia," Working Papers EMS_2010_18, Research Institute, International University of Japan.
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    63. António Portugal Duarte & João Sousa Andrade & Adelaide Duarte, 2010. "Exchange Rate Target Zones: A Survey of the Literature," GEMF Working Papers 2010-14, GEMF, Faculty of Economics, University of Coimbra.
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    69. Siebert, Horst, 2006. "International exchange rate systems: Where do we stand?," Kiel Working Papers 1288, Kiel Institute for the World Economy (IfW).
    70. Renato Filosa, 1995. "Money demand stability and currency substitution in six European countries (1980-1992)," BIS Working Papers 30, Bank for International Settlements.
    71. Marcel Kasumovich, 1996. "Interpreting Money-Spply and Interest-Rate Sgocks as Monetary-Policy Shocks," Staff Working Papers 96-8, Bank of Canada.
    72. Peter Carr & Zura Kakushadze, 2015. "FX Options in Target Zone," Papers 1512.01527, arXiv.org, revised Jul 2016.
    73. Yu Hsing, 2007. "Tests of the functional form, the substitution effect, and the wealth effect of Mexico´s money demand function," Revista de Economía del Rosario, Universidad del Rosario, May.
    74. Yinusa, Dauda Olalekan, 2008. "Between dollarization and exchange rate volatility: Nigeria's portfolio diversification option," Journal of Policy Modeling, Elsevier, vol. 30(5), pages 811-826.
    75. Kondo, Koji, 1997. "Statistical analysis of foreign exchange rates: application of cointegration model and regime-switching stochastic volatility model," ISU General Staff Papers 1997010108000012997, Iowa State University, Department of Economics.
    76. Choudhry, Taufiq, 1995. "High inflation rates and the long-run money demand function: Evidence from cointegration tests," Journal of Macroeconomics, Elsevier, vol. 17(1), pages 77-91.
    77. Adenutsi, Deodat E. & Yartey, Charles A., 2007. "Financial sector development and the macrodynamics of ‘de facto’ dollarisation in developing countries: the case of Ghana," MPRA Paper 29333, University Library of Munich, Germany.
    78. Frederick T. Furlong, 1989. "International dimensions of U.S. economic policy in the 1980s," Economic Review, Federal Reserve Bank of San Francisco, issue Spr, pages 3-16.
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    80. Kem Reat Viseth, 2001. "Currency Substitution and Financial Sector Developments in Cambodia," International and Development Economics Working Papers idec01-4, International and Development Economics.
    81. Sylviane Guillaumont Jeanneney, 1994. "La politique économique en présence de substitution de monnaies," Revue Économique, Programme National Persée, vol. 45(3), pages 349-368.
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  66. McKinnon, Ronald I., 1982. "The order of economic liberalization: Lessons from Chile and Argentina," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 17(1), pages 159-186, January.

    Cited by:

    1. Diao, Xinshen & Roe, Terry L. & Yeldan, A. Erinc, 1998. "How Fiscal (Mis)-Management May Impede Trade Reform: Lessons From an Intertemporal, Multi-Sector General Equilibrium Model for Turkey," Bulletins 7459, University of Minnesota, Economic Development Center.
    2. Froot, Kenneth A., 1988. "Credibility, real interest rates, and the optimal speed of trade liberalization," Journal of International Economics, Elsevier, vol. 25(1-2), pages 71-93, August.
    3. Sebastian Edwards, 1993. "Trade Policy, Exchange Rates and Growth," NBER Working Papers 4511, National Bureau of Economic Research, Inc.
    4. Bhattacharya, Rina, 1999. "Capital flight under uncertainty about domestic taxation and trade liberalization," Journal of Development Economics, Elsevier, vol. 59(2), pages 365-387, August.
    5. Roubini, N. & Sala-i-Martin, X., 1992. "A Growth Model of Inflation, Tax Evasion and Financial Repression," Papers 658, Yale - Economic Growth Center.
    6. Prof. Neil D. Karunaratne, 2002. "Globalization, Crisis Contagion and the Reform of the International Financial Architecture," Discussion Papers Series 300, School of Economics, University of Queensland, Australia.
    7. Ronald I. McKinnon & Huw Pill, 1998. "International Overborrowing: A Decomposition of Credit and Currency Risks," Working Papers 98004, Stanford University, Department of Economics.
    8. Joshua Aizenman & Stephen Turnovsky, 1999. "Reserve Requirements on Sovereign Debt in the Presence of Moral Hazard -- on Debtors or Creditors?," Discussion Papers in Economics at the University of Washington 0044, Department of Economics at the University of Washington.
    9. Preston J. Miller, 1983. "Higher deficit policies lead to higher inflation," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win.
    10. Battle, Ann Marie, 1997. "Welfare effects of liberalization reforms with distortions in financial and labor markets," Journal of Development Economics, Elsevier, vol. 52(2), pages 279-294, April.
    11. L.A. Sjaastad & M. Manzur, 1996. "Protection and Real Exchange Rate Volatility," Economics Discussion / Working Papers 96-08, The University of Western Australia, Department of Economics.
    12. Sebastian Edwards, 1997. "The Mexican Peso Crisis? How Much Did We Know? When Did We Know It?," NBER Working Papers 6334, National Bureau of Economic Research, Inc.
    13. Buscaglia, Edgardo, 2001. "The economic factors behind international legal harmonization: a jurimetric analysis of the Latin American experience," Emerging Markets Review, Elsevier, vol. 2(1), pages 67-85, March.
    14. Sebastian Edwards, 1998. "Capital Flows, Real Exchange Rates, and Capital Controls: Some Latin American Experiences," NBER Working Papers 6800, National Bureau of Economic Research, Inc.
    15. Sebastian Edwards & Daniel Lederman, 1998. "The Political Economy of Unilateral Trade Liberalization: The Case of Chile," NBER Working Papers 6510, National Bureau of Economic Research, Inc.
    16. Sebastian Edwards, 1994. "Trade and Industrial Policy Reform in Latin America," NBER Working Papers 4772, National Bureau of Economic Research, Inc.
    17. Ercan Uygur, 1990. "Financial Liberalization and the Real Sector in Turkey," Discussion Papers 9010, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    18. Buffie, Edward F., 1995. "Trade liberalization, credibility and self-fulfilling failures," Journal of International Economics, Elsevier, vol. 38(1-2), pages 51-73, February.
    19. Conley, John P. & Maloney, William F., 1995. "Optimal sequencing of credible reforms with uncertain outcomes," Journal of Development Economics, Elsevier, vol. 48(1), pages 151-166, October.
    20. Larry A. Sjaastad & Meher Manzur, 2003. "Import Protection, Capital Inflows, and Real Exchange Rate Dynamics," Journal of Applied Economics, Universidad del CEMA, vol. 6, pages 177-203, May.
    21. Greenwood, Jeremy & Smith, Bruce D., 1997. "Financial markets in development, and the development of financial markets," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 145-181, January.
    22. Norkina, O. & Pekarski, S., 2015. "Nonmarket Debt Placement As Financial Repression," Journal of the New Economic Association, New Economic Association, vol. 28(4), pages 31-55.
    23. Roberto Frenkel & Martin Rapetti, 2010. "A Concise History of Exchange Rate Regimes in Latin America," UMASS Amherst Economics Working Papers 2010-01, University of Massachusetts Amherst, Department of Economics.
    24. Paul Mc-Nelis, 1985. "Política de Indización e Inestabilidad Inflacionaria en el Cono Sur," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 22(65), pages 99-116.
    25. Roubini, Nouriel & Sala-i-Martin, Xavier, 1992. "Financial repression and economic growth," Journal of Development Economics, Elsevier, vol. 39(1), pages 5-30, July.
    26. Alexandre Minda, 1997. "Marchés boursiers émergents et financement des infrastructures en Amérique Latine," Revue Économique, Programme National Persée, vol. 48(2), pages 295-320.
    27. Kopits, György, 1995. "Az előre bejelentett csúszó árfolyamrendszer Magyarországon
      [Preannounced crawlling peg regime in Hungary]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 797-818.
    28. Schweickert, Rainer, 2003. "Vom Washington-Konsens zum Post-Washington-Dissens? Glaubwürdigkeit, Timing und Sequencing wirtschaftlicher Reformen," Open Access Publications from Kiel Institute for the World Economy 3082, Kiel Institute for the World Economy (IfW).
    29. Sebastian Edwards, 1992. "Sequencing and Welfare: Labor Markets and Agriculture," NBER Working Papers 4095, National Bureau of Economic Research, Inc.
    30. Yilmaz Akyüz, 1994. "Libéralisation financière : mythes et réalités," Revue Tiers Monde, Programme National Persée, vol. 35(139), pages 521-555.
    31. Hassan, Rashid M., 1989. "A temporary general equilibrium model with endogenous money for economic policy analysis in Sudan," ISU General Staff Papers 1989010108000010129, Iowa State University, Department of Economics.
    32. Claudio E. V. Borio, 1990. "Financial arrangements, 'soft' budget constraints and inflation: lessons from the Yugoslav experience," BIS Working Papers 15, Bank for International Settlements.
    33. Bhattacharya, Rina, 1997. "Pace, sequencing and credibility of structural reforms," World Development, Elsevier, vol. 25(7), pages 1045-1061, July.
    34. Mustapha Nabli, 1990. "The political economy of trade liberalization in developing countries," Open Economies Review, Springer, vol. 1(2), pages 111-145, June.
    35. Jean-Marc Fontaine & Mario Lanzarotti, 2001. "Le néo-structuralisme De la critique du Consensus de Washington à l'émergence d'un nouveau paradigme," Mondes en développement, De Boeck Université, vol. 0(1), pages 47-62.
    36. Donges, Juergen B. & Hiemenz, Ulrich, 1985. "Export liberalization and the outward oriented trade regime," Kiel Working Papers 241, Kiel Institute for the World Economy (IfW).
    37. Schweickert, Rainer, 1992. "Geld- und Wechselkurspolitik in Argentinien und Chile 1970 - 1988: ein Vergleich," Open Access Publications from Kiel Institute for the World Economy 1512, Kiel Institute for the World Economy (IfW).
    38. Barrell, Ray & Karim, Dilruba & Ventouri, Alexia, 2017. "Interest rate liberalization and capital adequacy in models of financial crises," Journal of Financial Stability, Elsevier, vol. 33(C), pages 261-272.
    39. Jacob A. Frenkel & Assaf Razin, 1986. "The Limited Viability of Dual Exchange-Rate Regimes," NBER Working Papers 1902, National Bureau of Economic Research, Inc.

  67. McKinnon, Ronald I, 1981. "The Exchange Rate and Macroeconomic Policy: Changing Postwar Perceptions," Journal of Economic Literature, American Economic Association, vol. 19(2), pages 531-557, June.

    Cited by:

    1. Cruz Rodriguez, Alexis, 2009. "Choosing and assessing exchange rate regimes: A survey of the literature," MPRA Paper 16314, University Library of Munich, Germany.
    2. Frank Agbola & Chartri Kunanopparat, 2005. "Determinants of exchange rate practices: some empirical evidence from Thailand," Applied Economics, Taylor & Francis Journals, vol. 37(7), pages 807-816.
    3. Maurice Obstfeld, 2001. "International Macroeconomics: Beyond the Mundell-Fleming Model," NBER Working Papers 8369, National Bureau of Economic Research, Inc.
    4. Jürgen von Hagen & Jizhong Zhou, 2005. "The choice of exchange rate regime: "An empirical analysis for transition economies" ," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(4), pages 679-703, October.
    5. Oscar Bajo-Rubio & Simón Sosvilla Rivero, 1993. "Teorías del tipo de cambio: una panorámica," Documentos de Trabajo del ICAE 9307, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    6. Jabara, Cathy L. & Schwartz, Nancy E., 1986. "Flexible Exchange Rates and Commodity Price Changes: The Case of Japan," Staff Reports 277897, United States Department of Agriculture, Economic Research Service.
    7. Meller, Patricio, 1987. "Review of the theoretical approaches to external adjustment and their relevance for Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    8. Denbaly, Massoud Said Mark, 1984. "U. S. monetary policy and the exchange rate: effects on the world coarse grain market," ISU General Staff Papers 198401010800008753, Iowa State University, Department of Economics.
    9. von Hagen, Jurgen & Zhou, Jizhong, 2007. "The choice of exchange rate regimes in developing countries: A multinomial panel analysis," Journal of International Money and Finance, Elsevier, vol. 26(7), pages 1071-1094, November.
    10. von Hagen, Jürgen & Zhou, Jizhong, 2004. "The Choice of Exchange Rate Regime in Developing Countries: A Multinational Panel Analysis," CEPR Discussion Papers 4227, C.E.P.R. Discussion Papers.
    11. H.W. Arndt, 1998. "Globalisation," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 51(204), pages 73-89.
    12. Ramon Moreno, 1988. "Saving, investment, and the U.S. external balance," Economic Review, Federal Reserve Bank of San Francisco, issue Fall, pages 3-17.
    13. von Hagen, Jürgen & Zhou, Jizhong, 2004. "The choice of exchange rate regimes in developing countries: A mulitnominal panal analysis," ZEI Working Papers B 32-2004, University of Bonn, ZEI - Center for European Integration Studies.
    14. Tarlok Singh, 2007. "Intertemporal Optimizing Models Of Trade And Current Account Balance: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 21(1), pages 25-64, February.
    15. H.W. Arndt, 1998. "Globalisation," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 51(204), pages 73-89.
    16. Chalfant, James A. & Love, H. Alan & Rausser, Gordon C. & Stamoulis, Kostas G., 1986. "The effects of monetary policy on U.S. agriculture," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt1rn3z1wd, Department of Agricultural & Resource Economics, UC Berkeley.

  68. McKinnon, Ronald I, 1980. "Dollar Stabilization and American Monetary Policy," American Economic Review, American Economic Association, vol. 70(2), pages 382-387, May.

    Cited by:

    1. Elias Papaioannou & Richard Portes, 2008. "The international role of the euro: a status report," European Economy - Economic Papers 2008 - 2015 317, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

  69. McKinnon, Ronald I., 1979. "Foreign trade regimes and economic development : A review article," Journal of International Economics, Elsevier, vol. 9(3), pages 429-452, August.

    Cited by:

    1. Yousefi, Ayoub & Wirjanto, Tony S., 2003. "Exchange rate of the US dollar and the J curve: the case of oil exporting countries," Energy Economics, Elsevier, vol. 25(6), pages 741-765, November.
    2. Addison T. & Demery L., 1986. "Impact of liberalisation on growth and equity," ILO Working Papers 992500143402676, International Labour Organization.

  70. McKinnon, Ronald I., 1976. "Floating foreign exchange rates 1973-1974: The emperor's new clothes," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 3(1), pages 79-114, January.

    Cited by:

    1. José Saúl Lizondo, 1983. "Interest Differential and Covered Arbitrage," NBER Chapters,in: Financial Policies and the World Capital Market: The Problem of Latin American Countries, pages 221-244 National Bureau of Economic Research, Inc.

  71. McKinnon, Ronald I, 1973. "The Value-Added Tax and the Liberalization of Foreign Trade in Developing Economies: A Comment," Journal of Economic Literature, American Economic Association, vol. 11(2), pages 520-524, June.

    Cited by:

    1. Sebastian Edwards, 1999. "International capital flows and emerging markets: amending the rules of the game?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 43(Jun), pages 137-171.

  72. McKinnon, Ronald I, 1971. "Exchange-Rate Flexibility and Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 3(2), pages 339-355, May.

    Cited by:

    1. Gideon G. Goshit & Thaddeaus D. Longduut, 2016. "Indirect Monetary Policy Instruments and Poverty Reduction in Nigeria: An Empirical Evidence from Time Series Data," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 6(4), pages 86-101, April.

  73. McKinnon, Ronald I, 1971. "Futures Markets and Buffer Stocks: A Reply to William Poole," Journal of Political Economy, University of Chicago Press, vol. 79(2), pages 351-355, March-Apr.

    Cited by:

    1. Basant K. Kapur, 2016. "Another Look At Price Instability And Consumer Well-Being: Nondurable And Durable (Housing) Markets," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-9, June.

  74. Ronald I. McKinnon, 1967. "Futures Markets, Buffer Stocks, and Income Stability for Primary Producers," Journal of Political Economy, University of Chicago Press, vol. 75, pages 844-844.

    Cited by:

    1. Basant K. Kapur, 2016. "Another Look At Price Instability And Consumer Well-Being: Nondurable And Durable (Housing) Markets," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-9, June.
    2. Guy Meunier, 2012. "Risk aversion and technology portfolios," Working Papers hal-00763358, HAL.
    3. Christophe Gouel, 2012. "Agricultural price instability: a survey of competing explanations and remedies," Post-Print hal-01001218, HAL.
    4. Larry S. Karp, 1987. "Methods for Selecting the Optimal Dynamic Hedge When Production is Stochastic," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(3), pages 647-657.
    5. King, Robert P., 1979. "Operational Techniques for Applied Decision Analysis Under Uncertainty," AAEA Fellows - Dissertations and Theses, Agricultural and Applied Economics Association, number 181951.
    6. Kenyon, David E., 1984. "The Use Of Futures Versus Put Options In Pricing Corn Production In Virginia," 1984 Annual Meeting, August 5-8, Ithaca, New York 279002, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Nand, Sada & Houck, James P., 1971. "Buffer Stocks of Food Grains in India: The Economics of Their Operation and Potential Size," Economic Study Reports 8499, University of Minnesota, Department of Applied Economics.
    8. Severin Borenstein, 2007. "Customer Risk from Real-Time Retail Electricity Pricing: Bill Volatility and Hedgability," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 111-130.
    9. Rausser, Gordon C & Carter, Colin, 1983. "Futures Market Efficiency in the Soybean Complex," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 469-478, August.
    10. Coble, Keith H. & Zuniga, Manuel & Heifner, Richard, 2003. "Evaluation of the interaction of risk management tools for cotton and soybeans," Agricultural Systems, Elsevier, vol. 75(2-3), pages 323-340.
    11. Bullock, David W. & Wilson, William W. & Dahl, Bruce L., 2007. "Strategic use of futures and options by commodity processors," International Review of Economics & Finance, Elsevier, vol. 16(4), pages 578-591.
    12. Kim, Jae-Gyeong, 1993. "Futures markets in an open economy," ISU General Staff Papers 1993010108000011461, Iowa State University, Department of Economics.
    13. Tabesh, Hamid, 1987. "Hedging price risk to soybean producers with futures and options: a case study," ISU General Staff Papers 1987010108000010306, Iowa State University, Department of Economics.
    14. Cifarelli, Giulio & Paladino, Giovanna, 2015. "A dynamic model of hedging and speculation in the commodity futures markets," Journal of Financial Markets, Elsevier, vol. 25(C), pages 1-15.
    15. Pannell, David J. & Hailu, Getu & Weersink, Alfons & Burt, Amanda, 2007. "More Reasons Why Farmers Have So Little Interest in Futures Markets," Working Papers 9232, University of Western Australia, School of Agricultural and Resource Economics.
    16. Monson, Steven J., 1991. "Accounting for yield risk in preharvest commodity pricing decisions," ISU General Staff Papers 1991010108000018169, Iowa State University, Department of Economics.
    17. Kim, Tae-Kyun, 1989. "The factor bias of technical change and technology adoption under uncertainty," ISU General Staff Papers 1989010108000010138, Iowa State University, Department of Economics.
    18. Larson, Donald F. & Varangis, Panos & Yabuki, Nanae, 1998. "Commodity risk management and development," Policy Research Working Paper Series 1963, The World Bank.
    19. Bell, Peter N, 2014. "The variance-minimizing hedge with put options," MPRA Paper 62156, University Library of Munich, Germany.
    20. Heifner, Richard G., 1972. "Optimal Hedging Levels and Hedging Effectiveness in Cattle Feeding," Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 24(2), pages 1-14, April.
    21. Zant, Wouter, 2001. "Hedging Price Risks of Farmers by Commodity Boards: A Simulation Applied to the Indian Natural Rubber Market," World Development, Elsevier, vol. 29(4), pages 691-710, April.
    22. Guy Meunier, 2013. "Risk aversion and technology mix in an electricity market," Working Papers hal-00906944, HAL.
    23. Ardian Harri & John Michael Riley & John D. Anderson & Keith H. Coble, 2009. "Managing economic risk in value-based marketing of fed cattle," Agricultural Economics, International Association of Agricultural Economists, vol. 40(3), pages 295-306, May.
    24. Satyanarayan, Sudhakar & Somensatto, Eduardo, 1997. "Tradeoffs from hedging oil pricerisk in Ecuador," Policy Research Working Paper Series 1792, The World Bank.
    25. Mahul, Olivier, 2002. "Hedging Price Risk In The Presence Of Crop Yield And Revenue Insurance," 2002 Conference, April 22-23, 2002, St. Louis, Missouri 19070, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    26. EECKHOUDT Louis & THOMAS Alban & TREICH Nicolas, 2006. "Correlated Risks and the Value of Information for Agricultural Producers," LERNA Working Papers 06.12.205, LERNA, University of Toulouse.
    27. Hernandez, Manuel & Torero, Maximo, 2010. "Examining the dynamic relationship between spot and future prices of agricultural commodities," IFPRI discussion papers 988, International Food Policy Research Institute (IFPRI).
    28. Perry, Janet E. & Mishra, Ashok K., 1999. "Forward Contracting Of Inputs: A Farm-Level Analysis," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 17(2), pages 1-15.
    29. Finger, Robert, 2012. "How strong is the “natural hedge”? The effects of crop acreage and aggregation levels," 123rd Seminar, February 23-24, 2012, Dublin, Ireland 122538, European Association of Agricultural Economists.
    30. Benninga, Simon Z. & Oosterhof, Casper M., 2004. "Hedging with forwards and puts in complete and incomplete markets," Journal of Banking & Finance, Elsevier, vol. 28(1), pages 1-17, January.
    31. Pircalabu, A. & Hvolby, T. & Jung, J. & Høg, E., 2017. "Joint price and volumetric risk in wind power trading: A copula approach," Energy Economics, Elsevier, vol. 62(C), pages 139-154.
    32. Arshanapalli, Bala G. & Gupta, Omprakash K., 1996. "Optimal hedging under output price uncertainty," European Journal of Operational Research, Elsevier, vol. 95(3), pages 522-536, December.
    33. Goss, Barry A., 1980. "Aspects Of Hedging Theory," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(3), pages 1-14, December.
    34. Benoît Sévi, 2006. "Ederington's ratio with production flexibility," Economics Bulletin, AccessEcon, vol. 7(1), pages 1-8.
    35. Polinsky, A Mitchell, 1987. "Fixed Price versus Spot Price Contracts: A Study in Risk Allocation," Journal of Law, Economics, and Organization, Oxford University Press, vol. 3(1), pages 27-46, Spring.
    36. Mahul, Olivier, 2002. "Hedging Price Risk in the Presence of Crop Yield and Revenue Insurance," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24881, European Association of Agricultural Economists.
    37. Gemmill, Gordon, 1985. "Optimal hedging on futures markets for commodity-exporting nations," European Economic Review, Elsevier, vol. 27(2), pages 243-261, March.
    38. Benedicto Lukanima & Raymond Swaray, 2014. "Market Reforms and Commodity Price Volatility: The Case of East African Coffee Market," The World Economy, Wiley Blackwell, vol. 37(8), pages 1152-1185, August.
    39. Thiagu Ranganathan & Usha Ananthakumar, 2017. "Hedging in Presence of Crop Yield, Crop Revenue and Rainfall Insurance," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 15(1), pages 151-171, March.
    40. Jack Hirshleifer, 1984. "Two Models of Speculation and Information," UCLA Economics Working Papers 329, UCLA Department of Economics.
    41. Elder, William A., 1969. "Risk, Uncertainty, And Futures Trading: Implications For Hedging Decisions Of Beef Cattle Feeders," Staff Papers 13572, University of Minnesota, Department of Applied Economics.
    42. Andreas Röthig, 2009. "Microeconomic Risk Management and Macroeconomic Stability," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-642-01565-6, December.
    43. Moawia Alghalith & Ricardo Lalloob, 2012. "A General Empirical Model of Hedging," Journal of Risk and Financial Management, MDPI, Open Access Journal, vol. 5(1), pages 1-19, December.
    44. Donald Lien, 2004. "A Note on Dual Hedging," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 3(1), pages 29-34, April.
    45. Bullock, David William, 1989. "Options and market information: a mean-variance portfolio approach," ISU General Staff Papers 1989010108000010107, Iowa State University, Department of Economics.
    46. Mason, Charles Edwin, IV, 2000. "Estimation and attenuation of reinsurance risk in the crop insurance market," ISU General Staff Papers 2000010108000013703, Iowa State University, Department of Economics.
    47. Jacks, David S., 2007. "Populists versus theorists: Futures markets and the volatility of prices," Explorations in Economic History, Elsevier, vol. 44(2), pages 342-362, April.
    48. Gray, Roger W. & Rutledge, David J.S., 1971. "The Economics of Commodity Futures Markets: A Survey," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 39(04), pages 1-52, December.
    49. Yumi Oum & Shmuel S. Oren, 2010. "Optimal Static Hedging of Volumetric Risk in a Competitive Wholesale Electricity Market," Decision Analysis, INFORMS, vol. 7(1), pages 107-122, March.
    50. Williams, J., 2013. "Wheat and corn price skewness and volatility: Risk management implications for farmers and end users," Australasian Agribusiness Review, University of Melbourne, Melbourne School of Land and Environment, vol. 21, pages 1-20.

  75. Ronald I. McKinnon, 1966. "Intermediate Products and Differential Tariffs: A Generalization of Lerner's Symmetry Theorem," The Quarterly Journal of Economics, Oxford University Press, vol. 80(4), pages 584-615.

    Cited by:

    1. Fuller, Frank Harland, 1996. "The location of marginal production for value-added and intermediate goods: optimal policies and trade volumes," ISU General Staff Papers 1996010108000012147, Iowa State University, Department of Economics.
    2. Joseph Francis Francois & Miriam Manchin, 2013. "Lerner meets Gravity," UCL SSEES Economics and Business working paper series 123, UCL School of Slavonic and East European Studies (SSEES).
    3. Arnaud Costinot & Iván Werning, 2017. "The Lerner Symmetry Theorem: Generalizations and Qualifications," NBER Working Papers 23427, National Bureau of Economic Research, Inc.
    4. Ram C. Acharya, 2018. "Endogenous trade policy in general equilibrium: An interaction of redistribution rule, trade openness, and labor market condition," Economics and Politics, Wiley Blackwell, vol. 30(3), pages 423-443, November.
    5. Garred, Jason, 2018. "The persistence of trade policy in China after WTO accession," Journal of International Economics, Elsevier, vol. 114(C), pages 130-142.
    6. William Kaempfer & Edward Tower, 1982. "The balance of payments approach to trade tax symmetry theorems," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 118(1), pages 148-165, March.
    7. Michael Connolly, 2016. "Ronald Mckinnon’S Contributions To Economics," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-9, June.

Chapters

  1. Ronald McKinnon & Gunther Schnabl, 2009. "Current Account Surpluses and Conflicted Virtue in East Asia: China and Japan under the Dollar Standard," Chapters,in: Towards Monetary and Financial Integration in East Asia, chapter 7 Edward Elgar Publishing.

    Cited by:

    1. C. Randall Henning, 2012. "Choice and Coercion in East Asian Exchange Rate Regimes," Working Paper Series WP12-15, Peterson Institute for International Economics.

  2. Ronald I. McKinnon, 2006. "Exchange Rate or Wage Changes in International Adjustment? Japan and China versus the United States," Chapters,in: Recent Financial Crises, chapter 8 Edward Elgar Publishing.
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  3. Ronald I. McKinnon, 2004. "The East Asian exchange rate dilemma and the world dollar standard," Chapters,in: East Asia's Monetary Future, chapter 6 Edward Elgar Publishing.
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Books

  1. McKinnon, Ronald I., 2013. "The Unloved Dollar Standard: From Bretton Woods to the Rise of China," OUP Catalogue, Oxford University Press, number 9780199937004.

    Cited by:

    1. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.
    2. Shaista Arshad & Omair Haroon & Syed Aun R. Rizvi, 2019. "Understanding Asian Emerging Stock Markets," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 0(12th BMEB), pages 1-16, January.
    3. Kenneth Rogoff & Takeshi Tashiro, "undated". "Japan's Exorbitant Privilege," Working Paper 188831, Harvard University OpenScholar.
    4. Anni Huang & Narayan Kundan Kishor, 2019. "The rise of dollar credit in emerging market economies and US monetary policy," The World Economy, Wiley Blackwell, vol. 42(2), pages 530-551, February.
    5. Cohen, Benjamin J., 2015. "The Demise of the Dollar?," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 18.
    6. Campos Dias de Sousa, Ricardo Emanuel & Howden, David, 2015. "The Efficient Market Conjecture," MPRA Paper 79792, University Library of Munich, Germany.
    7. Chee-Heong Quah, 2016. "A Diagnostic on the West African Monetary Union," South African Journal of Economics, Economic Society of South Africa, vol. 84(1), pages 129-148, March.
    8. Guillermo A. Calvo, 2016. "From Chronic Inflation to Chronic Deflation: Focusing on Expectations and Liquidity Disarray Since WWII," NBER Working Papers 22535, National Bureau of Economic Research, Inc.
    9. C. Randall Henning, 2012. "Choice and Coercion in East Asian Exchange Rate Regimes," Working Paper Series WP12-15, Peterson Institute for International Economics.
    10. Vithessonthi, Chaiporn & Tongurai, Jittima, 2014. "The spillover effects of unremunerated reserve requirements: Evidence from Thailand," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 338-351.
    11. Hoffmann, Andreas & Schnabl, Gunther, 2016. "Monetary policies of industrial countries, emerging market credit cycles and feedback effects," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 855-873.
    12. Sophia Latsos & Gunther Schnabl, 2015. "Net Foreign Asset Positions and Appreciation Expectations on the Swiss Franc and the Japanese Yen," CESifo Working Paper Series 5490, CESifo Group Munich.
    13. Pierre Siklos, 2018. "Boom-and-Bust Cycles in Emerging Markets: How Important is the Exchange Rate?," LCERPA Working Papers 0108, Laurier Centre for Economic Research and Policy Analysis, revised 30 Jan 2018.
    14. Pablo Duarte & Gunther Schnabl, 2014. "Macroeconomic Policy Making, Exchange Rate Adjustment and Current Account Imbalances in Emerging Markets," CESifo Working Paper Series 5064, CESifo Group Munich.
    15. Andreas Hoffmann & Gunther Schnabl, 2014. "Monetary Policies of Large Industrialised Countries, Emerging Market Credit Cycles and Feedback Effects," CESifo Working Paper Series 4723, CESifo Group Munich.
    16. Ronald McKinnon, 2013. "Hot Money Flows, Commodity Price Cycles and Financial Repression in the USA and China: The Consequences of Near-zero US Interest Rates," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 21(4), pages 1-13, July.
    17. Ronald McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the RMB as an International Currency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 1-35, July.
    18. Ronald McKinnon & Zhao Liu, 2013. "Zero Interest Rates in the United States Provoke World Monetary Instability and Constrict the US Economy," Review of International Economics, Wiley Blackwell, vol. 21(1), pages 49-56, February.
    19. Fuertes, Ana-Maria & Phylaktis, Kate & Yan, Cheng, 2016. "Hot money in bank credit flows to emerging markets during the banking globalization era," Journal of International Money and Finance, Elsevier, vol. 60(C), pages 29-52.
    20. McKinnon, Ronald, 2013. "The U.S. saving deficiency, current-account deficits, and deindustrialization: Implications for China," Journal of Policy Modeling, Elsevier, vol. 35(3), pages 449-458.

  2. Ronald I. McKinnon, 2006. "Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtue," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633418, January.

    Cited by:

    1. Herman Mark Schwartz, 2016. "Banking on the FED: QE1-2-3 and the Rebalancing of the Global Economy," New Political Economy, Taylor & Francis Journals, vol. 21(1), pages 26-48, February.
    2. Thimann, Christian & Fidora, Michael & Engler, Philipp, 2007. "External imbalances and the US current account: how supply-side changes affect an exchange rate adjustment," Working Paper Series 761, European Central Bank.

  3. Ronald I. McKinnon & Kenichi Ohno, 1997. "Dollar and Yen: Resolving Economic Conflict between the United States and Japan," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262133350, January.

    Cited by:

    1. Leland B. Yeager, 2000. "Exchange Rates between What Sorts of Currencies?," Cato Journal, Cato Journal, Cato Institute, vol. 20(1), Spring/Su.
    2. Masahiro Kawai & Shinji Takagi, 2005. "Strategy for a Regional Exchange Rate Arrangement in East Asia: Analysis, Review and Proposal," Global Economic Review, Taylor & Francis Journals, vol. 34(1), pages 21-64.
    3. Gunther Schnabl, 2006. "The Evolution of the East Asian Currency Baskets – Still Undisclosed and Changing," CESifo Working Paper Series 1873, CESifo Group Munich.
    4. Mauro Boianovsky, 2003. "The IS-LM Model and the Liquidity Trap Concept: from Hicks to Krugman," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] a13, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    5. Ronald Ian McKinnon, 2007. "The US current account deficits and the dollar standard’s sustainability: A monetary approach," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(4), pages 12-23, January.
    6. McKinnon Ronald I, 2006. "China's New Exchange Rate Policy: Will China Follow Japan into a Liquidity Trap?," The Economists' Voice, De Gruyter, vol. 3(5), pages 1-7, April.
    7. Horioka, Charles Yuji, 2015. "IS Imbalances and Current Account Surpluses in Japan: In Memory of Professor Ronald I. McKinnon," AGI Working Paper Series 2015-14, Asian Growth Research Institute.
    8. Gunther Schnabl, 2017. "Monetary policy and overinvestment in East Asia and Europe," Asia Europe Journal, Springer, vol. 15(4), pages 445-462, December.
    9. Jen-Chi Cheng & Larry Taylor & Wenlong Weng, 2010. "The links between international parity conditions and Granger causality: a study of exchange rates and prices," Applied Economics, Taylor & Francis Journals, vol. 42(27), pages 3491-3501.
    10. Ronald I. McKinnon, 1999. "Exchange rate co-ordination for surmounting the East Asian currency crises," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(1), pages 95-106.
    11. Gary R. Saxonhouse & Robert M Stern, 2002. "Japan's Lost Decade: Origins, Consequences, and Prospects For Recovery," Working Papers 484, Research Seminar in International Economics, University of Michigan.
    12. Schnabl, Gunther, 2007. "Exchange rate volatility and growth in small open economies at the EMU periphery," Working Paper Series 773, European Central Bank.
    13. Schnabl, Gunther & Danne, Christian, 2005. "The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy," Tübinger Diskussionsbeiträge 290, University of Tübingen, School of Business and Economics.
    14. Haider Ali Khan, 2003. "General Conclusions: From Crisis to A Global Political Economy of Freedom," CIRJE F-Series CIRJE-F-192, CIRJE, Faculty of Economics, University of Tokyo.
    15. Yu-chin Chen & Pisut Kulthanavit, 2008. "Adaptive Learning and Monetary Policy: Lessons from Japan," Working Papers UWEC-2008-12-P, University of Washington, Department of Economics, revised Oct 2008.
    16. Andreas Hoffmann & Gunther Schnabl, 2007. "Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets – An Overinvestment View," CESifo Working Paper Series 2100, CESifo Group Munich.
    17. Ronald McKinnon, 2010. "Rehabilitating the unloved dollar standard," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 24(2), pages 1-18, November.
    18. Raphael Fischer & Gunther Schnabl, 2016. "Regional Heterogeneity, the Rise of Public Debt and Monetary Policy in Post-Bubble Japan: Lessons for the EMU," CESifo Working Paper Series 5908, CESifo Group Munich.
    19. Nathalie Aminian & K. C. Fung & Maurice K. S. Tse, 2016. "The Euro and the Yuan: Some Political Economy Considerations," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 5(01), pages 1-13, June.
    20. Benassy-Quere, A. & Fontagne, L. & Lahreche-Revil, A., 2000. "Exchange Rate Strategies in the Competition for Attracting FDI," Papiers d'Economie Mathématique et Applications 2000.07, Université Panthéon-Sorbonne (Paris 1).
    21. Gunther Schnabl, 2015. "Monetary Policy and Structural Decline: Lessons from Japan for the European Crisis," Asian Economic Papers, MIT Press, vol. 14(1), pages 124-150, Winter/Sp.
    22. Andrea Fracasso, 2015. "Economic Rebalancing and Growth: the Japanese experience and China’s prospects," DEM Discussion Papers 2015/07, Department of Economics and Management.
    23. Ronald McKinnon, 2000. "Mundell, the Euro, and Optimum Currency Areas," Working Papers 00009, Stanford University, Department of Economics.
    24. Ronald Mckinnon, 2007. "Japan'S Deflationary Hangover: Wage Stagnation And The Syndrome Of The Ever-Weaker Yen," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 52(03), pages 309-334.
    25. Bofinger, Peter, 2000. "A framework for stabilizing the euro/yen/dollar triplet," The North American Journal of Economics and Finance, Elsevier, vol. 11(2), pages 137-151, December.
    26. Yu-chin Chen & Pisut Kulthanavit, 2008. "Adaptive Learning And Monetary Policy In An Open Economy: Lessons From Japan," Pacific Economic Review, Wiley Blackwell, vol. 13(4), pages 405-430, October.
    27. Gunther Schnabl, 2016. "Exchange Rate Regime, Financial Market Bubbles and Long-Term Growth in China: Lessons from Japan," CESifo Working Paper Series 5902, CESifo Group Munich.
    28. Ronald I. McKinnon, 2001. "After the Crisis, The East Asian Dollar Standard Resurrected: An Interpretation of High Frequency Exchange Rate Pegging," Working Papers 042001, Hong Kong Institute for Monetary Research.
    29. Rishi Goyal & Ronald McKinnon, 2002. "Japan's Negative Risk Premium in Interest Rates: The Liquidity Trap and Fall in Bank Lending," Working Papers 02006, Stanford University, Department of Economics.
    30. Fabrizio Saccomanni, 2000. "Introduction: A New Architecture or New System? A Survey of International Monetary Reform in the 1990s," Open Economies Review, Springer, vol. 11(1), pages 15-41, August.
    31. Sophia Latsos & Gunther Schnabl, 2015. "Net Foreign Asset Positions and Appreciation Expectations on the Swiss Franc and the Japanese Yen," CESifo Working Paper Series 5490, CESifo Group Munich.
    32. Ronald I., McKinnon, 2011. "Beggar-thy-neighbor interest rate policies," Journal of Policy Modeling, Elsevier, vol. 33(5), pages 759-775, September.
    33. Joseph Aschheim & George Tavlas, 1998. "Two types of target zone proposals: McKinnon and Ohno versus Williamson," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 134(3), pages 548-557, September.
    34. Ming Feng & Hao Cheng, 2016. "RMB exchange rate regime reform and the Trilemma facing LOEs," China Finance and Economic Review, Springer, vol. 4(1), pages 1-15, December.
    35. Kawai, Masahiro & Akiyama, Shigeru, 2000. "Implications of the currency crisis for exchange rate arrangements in emerging East Asia," Policy Research Working Paper Series 2502, The World Bank.
    36. Schnabl, Gunther & Baur, Dirk, 2001. "Purchasing power parity: Granger causality tests for the yen-dollar exchange rate," Tübinger Diskussionsbeiträge 213, University of Tübingen, School of Business and Economics.
    37. Christoph A. Schaltegger & Martin Weder, 2013. "Will Europe Face A Lost Decade? A Comparison With Japan's Economic Crisis," CREMA Working Paper Series 2013-03, Center for Research in Economics, Management and the Arts (CREMA).
    38. Ronald McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the RMB as an International Currency," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(3), pages 1-35, July.
    39. McKinnon, Ronald, 2006. "China's Exchange Rate Appreciation in the Light of the Earlier Japanese Experience," ZEW Discussion Papers 06-035, ZEW - Leibniz Centre for European Economic Research.
    40. Chmelarova, Viera & Schnabl, Gunther, 2006. "Exchange rate stabilization in developed and underdeveloped capital markets," Working Paper Series 636, European Central Bank.
    41. Ronald Ian McKinnon & Gunther Schnabl, 2014. "China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency," CESifo Working Paper Series 4649, CESifo Group Munich.
    42. Takashi Matsuki & Ming-Jen Chang, 2016. "Out-of-Sample Exchange Rate Forecasting and Macroeconomic Fundamentals: The Case of Japan," Australian Economic Papers, Wiley Blackwell, vol. 55(4), pages 409-433, December.
    43. Gunther Schnabl & Christian Danne, 2007. "A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan," CESifo Working Paper Series 2051, CESifo Group Munich.
    44. Stefan Collignon & Susanne Mundschenk, 1999. "Währungsblöcke und internationale Integration der Asiatischen Staaten," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 68(1), pages 103-109.
    45. McKinnon, Ronald I., 2005. "Trapped by the international dollar standard," Journal of Policy Modeling, Elsevier, vol. 27(4), pages 477-485, June.
    46. Gunther Schnabl, 2013. "The Macroeconomic Policy Challenges of Balance Sheet Recession: Lessons from Japan for the European Crisis," CESifo Working Paper Series 4249, CESifo Group Munich.
    47. Richard N. Cooper & Jane Sneddon Little, 2000. "U.S. monetary policy in an integrating world: 1960 to 2000," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 45(Oct), pages 77-121.
    48. Schnabl, Gunther, 2017. "Monetary policy and wandering overinvestment cycles in East Asia and Europe," Working Papers 148, University of Leipzig, Faculty of Economics and Management Science.
    49. McKinnon, Ronald, 2013. "The U.S. saving deficiency, current-account deficits, and deindustrialization: Implications for China," Journal of Policy Modeling, Elsevier, vol. 35(3), pages 449-458.
    50. Ronald McKinnon & Gunther Schnabl, 2009. "The Case for Stabilizing China's Exchange Rate: Setting the Stage for Fiscal Expansion," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(1), pages 1-32.
    51. Aaron P. Forsberg, 2003. "Unmaking the Japanese Miracle: Macroeconomic Politics, 1985-2000 by William W. Grimes. Ithaca, NY: Cornell University Press, 2001, 288 pp., $39.95," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 22(1), pages 148-151.
    52. McKinnon, Ronald I., 2015. "Mundell, the Euro, and the World Dollar Standard," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 450-459.
    53. Qiao, Hong, 2007. "Exchange rates and trade balances under the dollar standard," Journal of Policy Modeling, Elsevier, vol. 29(5), pages 765-782.

  4. Ronald I. McKinnon, 1996. "The Rules of the Game: International Money and Exchange Rates," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262133180, January.

    Cited by:

    1. Ronald McKinnon, 2001. "The International Dollar Standard and Sustainability of the U.S. Current Account Deficit," Working Papers 01013, Stanford University, Department of Economics.
    2. Horioka, Charles Yuji, 2015. "IS Imbalances and Current Account Surpluses in Japan: In Memory of Professor Ronald I. McKinnon," AGI Working Paper Series 2015-14, Asian Growth Research Institute.
    3. Ronald McKinnon, 2010. "Rehabilitating the unloved dollar standard," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 24(2), pages 1-18, November.
    4. Honohan, Patrick & Shi, Anging, 2001. "Deposit dollarization and the financial sector in emerging economies," Policy Research Working Paper Series 2748, The World Bank.
    5. Balogun, Emmanuel Dele, 2008. "An Empirical Test of Trade Gravity Model Criteria for the West African Monetary Zone (WAMZ)," MPRA Paper 7083, University Library of Munich, Germany.
    6. Richard N. Cooper, 1999. "Exchange Rate Choices," Harvard Institute of Economic Research Working Papers 1877, Harvard - Institute of Economic Research.
    7. Ronald I. McKinnon, 2004. "Optimum Currency Areas and Key Currencies: Mundell I versus Mundell II," Journal of Common Market Studies, Wiley Blackwell, vol. 42(4), pages 689-715, November.
    8. Dore, Ron, 2001. "Making sense of globalisation," LSE Research Online Documents on Economics 28752, London School of Economics and Political Science, LSE Library.
    9. Barry Eichengreen, 2014. "International Currencies Past, Present and Future: Two Views from Economic History," Working Papers 2014-31, Economic Research Institute, Bank of Korea.
    10. Ronald McKinnon, 2000. "Mundell, the Euro, and Optimum Currency Areas," Working Papers 00009, Stanford University, Department of Economics.
    11. Balogun, Emmanuel Dele, 2008. "An alternative reconsideration of macroeconomic convergence criteria for West African Monetary Zone," MPRA Paper 11367, University Library of Munich, Germany.
    12. Ronald McKinnon & Kenichi Ohno & Kazuko Shirono, 1999. "The Syndrome of the Ever-Higher Yen, 1971-1995: American Mercantile Pressure on Japanese Monetary Policy," NBER Chapters,in: Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues (NBER-EASE volume 7), pages 341-376 National Bureau of Economic Research, Inc.
    13. McKinnon, Ronald I., 1995. "Intergovernmental competition in Europe with and without a common currency," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 463-478, October.
    14. Sheng, Andrew & Kwek, Kian-Teng & Cho, Cho-Wai, 2009. "A tale of Asian exchange rate management: Romance of the three currencies," Journal of Asian Economics, Elsevier, vol. 20(5), pages 519-535, September.
    15. Ronald I. McKinnon, 2001. "After the Crisis, The East Asian Dollar Standard Resurrected: An Interpretation of High Frequency Exchange Rate Pegging," Working Papers 042001, Hong Kong Institute for Monetary Research.
    16. Ronald McKinnon & Kenichi Ohno, 2000. "The Foreign Exchange Origins of Japan's Economic Slump and Low Interest Liquidity Trap," Working Papers 052000, Hong Kong Institute for Monetary Research.
    17. Patrick Honohan, 1998. "Diagnosing Banking System Failures in Developing Countries," Papers WP093, Economic and Social Research Institute (ESRI).
    18. Honohan, Patrick & Klingebiel, Daniela, 2000. "Controlling the fiscal costs of banking crises," Policy Research Working Paper Series 2441, The World Bank.
    19. Yilmaz, Kamil, 2003. "Martingale Property of Exchange Rates and Central Bank Interventions," Journal of Business & Economic Statistics, American Statistical Association, vol. 21(3), pages 383-395, July.
    20. Darvas, Zsolt & Szapáry, György, 1999. "A nemzetközi pénzügyi válságok tovaterjedése különböző árfolyamrendszerekben
      [The spread of international financial crises under various exchange-rate systems]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 945-968.
    21. Cho, Guedae & Sheldon, Ian M. & McCorriston, Steve, 2000. "Exchange Rate Misalignment And Agricultural Trade," 2000 Annual meeting, July 30-August 2, Tampa, FL 21824, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    22. Martín Redrado & Jorge Carrera & Diego Bastourre & Javier Ibarlucia (ed.), 2006. "The Economic Policy of Foreign Reserve Accumulation: New International Evidence," BCRA Paper Series, Central Bank of Argentina, Economic Research Department, number 02, December.
    23. Michael Dooley & Peter Garber, 2005. "Is It 1958 or 1968? Three Notes on the Longevity of the Revived Bretton Woods System," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 36(1), pages 147-210.
    24. Francisco Palomino, 2012. "Bond Risk Premiums and Optimal Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(1), pages 19-40, January.
    25. Martín Redrado & Jorge Carrera & Diego Bastourre & Javier Ibarlucia, 2006. "The Economic Policy of Foreign Reserve Accumulation: New International Evidence," BCRA Working Paper Series 200614, Central Bank of Argentina, Economic Research Department.
    26. Dominick Salvatore, 1998. "International Monetary and Financial Arrangements: Present and Future," Open Economies Review, Springer, vol. 9(1), pages 375-416, January.
    27. Liliane Karlinger, 2002. "The Impact of Common Currencies on Financial Markets: A Literature Review and Evidence from the Euro Area," Staff Working Papers 02-35, Bank of Canada.
    28. Dominick Salvatore, 2000. "The Present International Monetary System: Problems, Complications, and Reforms," Open Economies Review, Springer, vol. 11(1), pages 133-148, August.
    29. Richard Cooper, 2006. "Proposal for a common currency among rich democracies," International Economics and Economic Policy, Springer, vol. 3(3), pages 387-394, December.
    30. McKinnon, Ronald I., 2015. "Mundell, the Euro, and the World Dollar Standard," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 450-459.
    31. Ron Dore, 2001. "Making Sense of Globalisation," CEP Occasional Papers 16, Centre for Economic Performance, LSE.
    32. Jin, Hyun Joung & Cho, Guedae & Koo, Won W., 2004. "Third-Country Effects on the Market Shares of U.S. Wheat in Asian Countries," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(3), pages 1-17, December.
    33. Jorge Eduardo Carrera & Mariano Feliz & Demian Panigo & Marcelo Saavedra, 2001. "Dollarization as an Asymmetric Monetary Union. The Case of Argentina," Anais do XXIX Encontro Nacional de Economia [Proceedings of the 29th Brazilian Economics Meeting] 043, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

  5. McKinnon, Ronald I., 1979. "Money in International Exchange: The Convertible Currency System," OUP Catalogue, Oxford University Press, number 9780195024098.

    Cited by:

    1. Robert J. Hodrick & Sanjay Srivastava, 1983. "An Investigation of Risk and Return in Forward Foreign Exchange," NBER Working Papers 1180, National Bureau of Economic Research, Inc.
    2. Ligthart, Jenny E. & Werner, Sebastian E.V., 2012. "Has the euro affected the choice of invoicing currency?," Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1551-1573.
    3. Chinn, Menzie David & Frankel, Jeffrey A., 2006. "Will the Euro Eventually Surpass the Dollar As Leading International Reserve Currency?," Santa Cruz Department of Economics, Working Paper Series qt4hz4n9pb, Department of Economics, UC Santa Cruz.
    4. Leland B. Yeager, 2000. "Exchange Rates between What Sorts of Currencies?," Cato Journal, Cato Journal, Cato Institute, vol. 20(1), Spring/Su.
    5. Daniel Gersten Reiss, 2016. "Invoice Currency In Brazil," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42nd Brazilian Economics Meeting] 106, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    6. Visser, H., 1987. "A survey of recent developments in monetary theory," Serie Research Memoranda 0003, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    7. Ogawa, Eiji & Sasaki, Yuri Nagataki, 1998. "Inertia in the key currency," Japan and the World Economy, Elsevier, vol. 10(4), pages 421-439, October.
    8. Richard M. Levich, 1983. "Empirical Studies of Exchange Rates: Price Behavior, Rate Determinationand Market Efficiency," NBER Working Papers 1112, National Bureau of Economic Research, Inc.
    9. Linda S. Goldberg & Cedric Tille, 2006. "The internationalization of the dollar and trade balance adjustment," Staff Reports 255, Federal Reserve Bank of New York.
    10. Gourinchas, Pierre-Olivier & Rey, Hélène & Truempler, Kai Alexander, 2011. "The Financial Crisis and the Geography of Wealth Transfers," CEPR Discussion Papers 8567, C.E.P.R. Discussion Papers.
    11. Donnenfeld, S. & Zilcha, I., 1989. "Pricing Of Exports And Exchange Rate Uncertainty," Papers 12-89, Tel Aviv.
    12. Giovanni Capannelli & Carlo Filippini, 2010. "Economic Integration In East Asia And Europe: Lessons From A Comparative Analysis," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 55(01), pages 163-184.
    13. Obstfeld, Maurice & Taylor, Alan M., 1997. "The Great Depression as a Watershed: International Capital Mobility over the Long Run," CEPR Discussion Papers 1633, C.E.P.R. Discussion Papers.
    14. Prakash Kannan, 2007. "On The Welfare Benefits Of An International Currency," 2007 Meeting Papers 29, Society for Economic Dynamics.
    15. Rajas Parchure, 2009. "A Model of Market Clearing Exchange Rates," Working Papers id:2153, eSocialSciences.
    16. Chung, Wanyu, 2016. "Imported inputs and invoicing currency choice: Theory and evidence from UK transaction data," Journal of International Economics, Elsevier, vol. 99(C), pages 237-250.
    17. Yung-Chul Park & Kwanho Shin, 2011. "Internationalisation of currency in East Asia: implications for regional monetary and financial cooperation," BIS Papers chapters,in: Bank for International Settlements (ed.), Currency internationalisation: lessons from the global financial crisis and prospects for the future in Asia and the Pacific, volume 61, pages 180-197 Bank for International Settlements.
    18. Frankel, Jeffrey A., 2012. "Internationalization of the RMB and Historical Precedents," Scholarly Articles 10592469, Harvard Kennedy School of Government.
    19. Mileva, Elitza & Siegfried, Nikolaus, 2012. "Oil market structure, network effects and the choice of currency for oil invoicing," Energy Policy, Elsevier, vol. 44(C), pages 385-394.
    20. Linda S. Goldberg, 2005. "Trade invoicing in the accession countries: are they suited to the Euro?," Staff Reports 222, Federal Reserve Bank of New York.
    21. Laura Márquez-Ramos & Inmaculada Martínez-Zarzoso & Celestino Suárez-Burguet, 2011. "Determinants of Deep Integration: Examining Socio-political Factors," Open Economies Review, Springer, vol. 22(3), pages 479-500, July.
    22. Mehl, Arnaud & Eichengreen, Barry & Chiţu, Livia, 2014. "Network effects, homogeneous goods and international currency choice: new evidence on oil markets from an older era," Working Paper Series 1651, European Central Bank.
    23. Ronald McKinnon, 2010. "Rehabilitating the unloved dollar standard," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 24(2), pages 1-18, November.
    24. Ayoub Yousefi, 2000. "Merchandise Trade Balances of Less Developed Countries and Exchange Rate of the U.S. Dollar: Cases of Iran, Venezuela & Saudi Arabia," Working Papers 00002, University of Waterloo, Department of Economics, revised Feb 2000.
    25. Meng, Jingjing, 2016. "Asian emerging-market currencies in the international debt market (1994–2014)," Journal of Asian Economics, Elsevier, vol. 42(C), pages 20-32.
    26. Craig R. Parsons & Kiyotaka Sato, 2006. "Exchange Rate Pass-through and Currency Invoicing: Implications for Monetary Integration in East Asia," The World Economy, Wiley Blackwell, vol. 29(12), pages 1759-1788, December.
    27. Shin-ichi Fukuda, 1996. "The Structural Determinants of Invoice Currencies in Japan: The Case of Foreign Trade with East Asian Countries," NBER Chapters,in: Financial Deregulation and Integration in East Asia, NBER-EASE Volume 5, pages 147-165 National Bureau of Economic Research, Inc.
    28. Suvanto, Antti, . "Foreign Exchange Dealing. Essays on the Microstructure of the Foreign Exchange Market," ETLA A, The Research Institute of the Finnish Economy, number 19, December.
    29. Maxwell J. Fry, 1991. "Choosing a Money for Europe," Journal of Common Market Studies, Wiley Blackwell, vol. 29(5), pages 481-504, September.
    30. Philip Turner, 2012. "Macroprudential policies in EMEs: theory and practice," BIS Papers chapters,in: Bank for International Settlements (ed.), Financial sector regulation for growth, equity and stability, volume 62, pages 125-139 Bank for International Settlements.
    31. Hiro Ito & Masahiro Kawai, 2015. "Trade Invoicing in Major Currencies in the 1970s–1990s: Lessons for Renminbi Internationalization," NBER Chapters,in: International Finance in the Global Markets National Bureau of Economic Research, Inc.
    32. Wang, Xiangning & Zhao, Xing, 2014. "The invoicing currency choice model of export enterprises assuming joint utility maximization and analysis of the factors influencing selection," Economic Modelling, Elsevier, vol. 42(C), pages 38-42.
    33. Capannelli, Giovanni & Filippini, Carlo, 2009. "East Asian and European Economic Integration: A Comparative Analysis," Working Papers on Regional Economic Integration 29, Asian Development Bank.
    34. Roberto Tamborini, 1995. "Price Determination In Polypolistic Markets And Exchange Rate Changes," Metroeconomica, Wiley Blackwell, vol. 46(1), pages 63-89, February.
    35. Chinn, Menzie & Frankel, Jeffrey A., 2008. "Why the Euro Will Rival the Dollar," Scholarly Articles 27305995, Harvard Kennedy School of Government.
    36. Bilson, John F. O. & Hsieh, David A., 1987. "The profitability of currency speculation," International Journal of Forecasting, Elsevier, vol. 3(1), pages 115-130.
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