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Keywords:International finance 

Working Paper
Tradability, Productivity, and Understanding International Economic Integration

This paper develops a two-country macro model with endogenous tradability to study features of international economic integration. Recent episodes of integration in Europe and North America suggest some surprising observations: while quantities of trade have increased significantly, especially along the extensive margin of goods previously not traded, price dispersion has not decreased and may even have increased. These observations challenge the usual understanding of integration in the literature. We propose a way of reconciling these price and quantity observations in a macroeconomic model ...
Working Paper Series , Paper 2005-13

Journal Article
International transactions of the United States in the first postwar year

Federal Reserve Bulletin , Issue Dec

Report
Risks in U.S. bank international exposures

U.S. banks have substantial exposure to foreign markets such as Europe and Latin America. In this paper, we show how the amounts and forms of these exposures have evolved over time and note the changes in embodied risks taken through banks' cross-border activity, local claims, and derivative positions. Our findings vary with the type of U.S. bank. Compared with other banks, money-center banks tend to have a greater share of their assets in foreign exposures. Some of money-center banks' exposure to riskier countries, particularly Latin American countries, is achieved through the activities of ...
Staff Reports , Paper 240

Journal Article
Fed. Gov Kroszner: Latin policymakers must be vigilant

Latin America links to the global economy in important ways, so Latin American policymakers should be mindful of economic turbulence elsewhere and continue their improvements, Fed Gov. Randall S. Kroszner said in a recent speech.
Financial Update , Volume 21 , Issue 2

Journal Article
Substitution account

FRBSF Economic Letter

Journal Article
Globalization, volume, decreasing costs force world's exchanges to automate

Economics Update , Issue Jul , Pages 3-4

Conference Paper
Financial shocks and business cycles: lessons form outside the United States

Conference Series ; [Proceedings] , Volume 42 , Issue Jun , Pages 187-193

Journal Article
Statement to Congress, May 6, 1987 (accessibility of American financial firms to Japanese financial markets)

Federal Reserve Bulletin , Issue Jul

Journal Article
Why the interest in reforming the International Monetary System?

The recent spate of severe financial crises has provoked an interest in international monetary reform not seen since the breakdown of the fixed exchange rate system 30 years ago. Indeed, the crises have forced both academic economists and policymakers to question some of their most basic assumptions about the appropriate design of the international monetary system. This article was the introductory paper at the Federal Reserve Bank of Boston's conference on "Rethinking the International Monetary System," held in June 1999. The article reviews recent changes in the economic environment that ...
New England Economic Review , Issue Sep , Pages 53-84

Conference Paper
General discussion: role reversal in global finance

Proceedings - Economic Policy Symposium - Jackson Hole

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