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Keywords:International economic relations 

Journal Article
Ad hoc approach to global economic integration may not work, Hale says

Economics Update , Issue Jul , Pages 5-6

Speech
The economic outlook and the role of monetary policy

Remarks at the Economic Club of New York, New York City.
Speech , Paper 99

Journal Article
Progress and peril in China's modern economy

The past 25 years have seen dramatic economic transformation, but major challenges remain
The Region , Volume 17 , Issue Dec , Pages 26-30

Conference Paper
Regionalism and the world trading system

Proceedings - Economic Policy Symposium - Jackson Hole

Working Paper
An empirical analysis of policy coordination in the United States, Japan and Europe

Coordination of macroeconomic policy has been a major topic at recent summit meetings, and has been the subject of a number of theoretical studies. However, relatively little empirical research exists on policy coordination. This paper is an attempt to help fill this gap. The paper considers the quantitative importance of the coordination of fiscal and monetary policy under flexible exchange rates. We also evaluate the mechanisms by which the effects of macroeconomic policy are transmitted abroad. The nature of the equilibrium reached in the absence of coordination is also analyzed, and the ...
International Finance Discussion Papers , Paper 286

Working Paper
Inflation dynamics and international linkages: a model of the United States, the euro area, and Japan

In this paper we estimate a small macroeconometric model of the United States, the euro area and Japan with rational expectations and nominal rigidities due to staggered contracts. Comparing three popular contracting specifications we find that euro area and Japanese inflation dynamics are best explained by Taylor-style contracts, while Buiter-Jewitt/Fuhrer-Moore contracts perform somewhat better in fitting U.S. inflation dynamics. We are unable to fit Calvo-style contracts to inflation dynamics in any of the three economies without allowing either for ad-hoc persistence in unobservables or a ...
International Finance Discussion Papers , Paper 745

Journal Article
The rising tide of protectionism

Economic Review , Issue Mar , Pages 4-10

Journal Article
Statement to Congress, June 18, 1991 (U.S. international competitiveness)

Federal Reserve Bulletin , Issue Aug

Journal Article
Trade liberalization in the Pacific Basin

FRBSF Economic Letter

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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