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Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in
Central Banking in Theory and Practice
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Alan S. Blinder offers the dual perspective of a leading academic macroeconomist who served a stint as Vice-Chairman of the Federal Reserve Board—one who prac
Spillovers from United States Monetary Policy on Emerging Markets
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The impact of monetary policy in large advanced countries on emerging market economies—dubbed spillovers—is hotly debated in global and national policy circ
Investment-Led Growth in China
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Over the past decade, China’s growth model has become more reliant on investment and its footprint in global imports has widened substantially. Several econom
Emerging Market Volatility
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Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting i