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Journal Article
Financial globalization: gain and pain for developing countries
Economies around the world are becoming increasingly interconnected by the unprecedented breadth and depth of financial globalization. Developed countries tend to be most actively involved in cross-country capital movement, but in recent years developing countries have begun to participate in the process. ; This article focuses on the integration of developing countries into the international financial system. It examines recent developments and the principal agents of financial globalization as well as globalization?s effect on the domestic financial sector. Financial liberalization tends to develop the financial system, enhancing financing opportunities, reducing the cost of capital, and increasing investment and liquidity. But global financial interconnectedness also carries with it some risks, especially in the short run, because it tends to intensify a country?s sensitivity to foreign shocks. ; For policymakers, the challenges center on maximizing the advantages that globalization presents while minimizing the risks. Governments participating in financial globalization tend to have fewer policy options and to become more reliant on international financial policies.> As the line between foreign and domestic capital blurs, a country?s successful participation in financial globalization will require strong economic fundamentals and a properly regulated and supervised financial system. A primary challenge of globalization, the author concludes, is to integrate all sectors and countries because nonparticipants are at a disadvantage.
AUTHORS: Schmukler, Sergio L.
DATE: 2004-04

Conference Paper
The effects of globalization on inflation and their implications for monetary policy
Policymakers here and abroad cannot lose sight of a fundamental truth: In a world of separate currencies that can fluctuate against each other over time, each country?s central bank determines its inflation rate. If the FOMC were to allow the U.S. economy to run beyond its sustainable potential for some time, inflation would eventually rise. And, this pickup would become self-perpetuating if it became embedded in inflation expectations. Thus, while a better understanding of the implications of globalization will aid in our understanding of inflation dynamics, it is also clear that such developments do not relieve central banks of their responsibility for maintaining price and economic stability.
AUTHORS: Kohn, Donald L.
DATE: 2006

Journal Article
On the record: making sense of today's globalized economy
A discussion with University of Wisconsin economics professor Charles Engel, a senior fellow of the Dallas Fed's Globalization and Monetary Policy Institute, ranges from the current financial crisis to the unpredictability of exchange rates.
AUTHORS: Engel, Charles
DATE: 2008-09

Journal Article
President's perspective
AUTHORS: Fisher, Richard W.
DATE: 2006-01

Journal Article
Globalizing Texas: exports and high-tech jobs
AUTHORS: Kumar, Anil
DATE: 2007-09

In the lap of the gods
Remarks at the Greater Dallas Chamber Annual State of Technology Luncheon, Dallas, Texas, October 2, 2007. ; "We live in a time when it is fashionable to look at all glasses as half full. Chicken Little rules the roost of economic prognostication. The innovators in this room know differently."
AUTHORS: Fisher, Richard W.
DATE: 2007

Selling our services to the world (with an ode to Chicago)
"The United States, like Chicago, can continue to prosper only if it faces economic change head-on, choosing to compete rather than retreat, seeking out new opportunities in a globalizing economy, where goods, services, money and ideas flow freely across international borders." ; Remarks before the Chicago Council on Global Affairs, Chicago, Illinois, April 17, 2008.
AUTHORS: Fisher, Richard W.
DATE: 2008

Globalization's impact on U.S. growth and inflation
Remarks before the Dallas Assembly, Dallas, Texas, May 22, 2006 ; "Our globalizing economy is not a vintage car. It is more like a 2006 BMW Z4 roadster, fully equipped and Bluetooth enabled. It is a very complex, highly integrated, technologically advanced and brilliantly engineered vehicle that just cannot help exceeding the posted speed limit."
AUTHORS: Fisher, Richard W.
DATE: 2006

Globalization and the Latin perspective (with reference to Las Meninas)
Remarks at the Central Bank of Argentina, Buenos Aires, April 19, 2006 ; "My business contacts talk and act as if the globalization now under way will bring another decade of intense competition. This hothouse will enable--perhaps even force--businesses to keep productivity growth in the range we have enjoyed since the mid-1990s--hopefully, for many years to come. If labor productivity growth can stay near 3 percent, monetary policy can accommodate relatively faster growth without igniting inflation."
AUTHORS: Fisher, Richard W.
DATE: 2006

The Federal Reserve and Texas
Remarks at a Community Luncheon Hosted by the Federal Reserve Bank of Dallas, San Antonio, Texas, August 29, 2006 ; "The business of getting it right on inflation is not an easy task. I keep a close eye on all of the inflation measures--especially now, when high energy prices and utility bills are putting pressure on many businesses to raise prices. But I put extra weight on the Trimmed-Mean PCE Deflator because I believe it provides a more realistic picture of the price pressures in the economy and more accurately measures what conditions the operations of our economy."
AUTHORS: Fisher, Richard W.
DATE: 2006



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Fisher, Richard W. 21 items

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