These are the topics covered in West Coast Workshop on International Finance and Open Economy Macroeconomics, October 11th, organized by Michael Hutchison (UCSC) and Helen Popper (SCU).
Category Archives: international
CNY on the Rise
The preliminary results from the BIS triennial survey for 2013 are out. There are a lot of interesting results, but one I want to flag is that the Chinese yuan is increasingly used in forex transactions.
Coping with high oil prices
We’ve been seeing oil over $100 a barrel and gasoline above $3.40 a gallon for much of the last 3 years. Those prices would have shocked many Americans a few years ago, but have now become the new normal. What has changed and what hasn’t as a result?
What Should Emerging Market Economies Do?
Some thoughts on how choices between monetary autonomy, exchange rate stability and capital account openness — and reserve accumulation/decumulation — relate to macro outcomes.
Assessing the Trilemma
From “Rounding the Corners of the Policy Trilemma: Sources of monetary policy autonomy,” by Michael Klein and Jay hambaugh:
A central result in international macroeconomics is that a government cannot simultaneously opt for open financial markets, fixed exchange rates, and monetary autonomy; rather, it is constrained to choosing two of these three. …
“Global Spillovers and Economic Cycles”
That was the title of an illuminating EABCN/CEPR/Banque de France/European University Institute conference I attended last week (organized by Philippe Bacchetta, Laurent Ferrara, Jean Imbs, and Massimiliano Marcellino). The program is here, and papers here.
“Can Japan Export Its Way to Recovery?”
From an article with Isao Kamata, in the Spring 2013 La Follette Policy Review:
Measuring Financial Openness
Chinn-Ito Index Updated to 2011
Guest Contribution: “Fairness and Sustainability for Cyprus”
Today, we have a guest contribution from Marios Zachariadis, Associate Professor of Economics at University of Cyprus.
“Rethinking Macro Policy II: First Steps and Early Lessons”
That’s the title of an IMF conference taking place starting tomorrow (April 16-17). The program is below, and the live webcast will be available here (and follows up on a 2011 conference on the same subject).
Five years into the crisis, the contours of the macroeconomic policy of the future are only slowly coming into focus. From macroeconomic to financial stability, policy makers have realized that they have to watch many targets. They have also realized that they have potentially many more instruments at their disposal, from macro prudential tools to unconventional monetary policy. But how to map instruments to targets remains very much a work in progress. — Olivier Blanchard