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Keywords:International economic relations 

Conference Paper
Noncooperative monetary policies in interdependent economies: time consistency and reputation

Proceedings

Working Paper
The new regionalism and Asia: impact and options

New regional initiatives abound, both outside Asia and within. Free Trade Areas in the West - notably NAFTA, its possible enlargement into an FTA of the Americas, and the European Union - have implications for Asia. Asian manufacturers will experience trade diversion, especially in textiles and apparel. Balancing such losses is the likelihood of gains from higher import demand caused by stronger economic growth in the Americas and Europe. ; New estimates of the gravity model of bilateral trade confirm the presence of implicit or de facto trade blocs in Asia and the Pacific, as in Europe ...
Pacific Basin Working Paper Series , Paper 95-10

Journal Article
The foreign dimension

FRBSF Economic Letter

Journal Article
Stabilization policy in world context

Economic Review , Issue Fall , Pages 5-19

Journal Article
The impact of rising oil prices on the major foreign industrial countries

Federal Reserve Bulletin , Issue Oct , Pages 817-824

Newsletter
International ties

Chicago Fed Letter , Issue Oct

Journal Article
Fully funded social security: Now you see it, now you don't?

Governments of countries around the world, including the United States, are considering implementing social security reform programs. In most cases, one of the principal goals of the reform program is to convert a pay-as-you-go social security system into a fully funded system. Most economists believe that the long-run macroeconomic benefits of a successful transition to a fully funded system are likely to be large relative to the benefits from social security reforms of other types. ; The authors of this article describe the basic differences between pay-as-you-go and fully funded systems ...
Economic Review , Volume 84 , Issue Q4 , Pages 16-25

Journal Article
Downhill racers

FRBSF Economic Letter

Journal Article
Policy coordination and financial intermediaries

Summary of proceedings from the 1986 Fall Academic Conference sponsored by the Federal Reserve Bank of San Francisco
Economic Review , Issue Win , Pages 31-45

Report
International coordination of fiscal policy in limiting economies

We examine the limiting behavior of cooperative and noncooperative fiscal policies as countries? market power goes to zero. We show that these policies converge if countries raise revenues through lump-sum taxation. However, if there are unremovable domestic distortions, such as distorting taxes, there can be gains to coordination even when a single country?s policy cannot affect world prices. These results differ from the received wisdom in the optimal tariff literature. The key distinction is that, unlike in the tariff literature, the spending decisions of governments are explicitly modeled.
Staff Report , Paper 121

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