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Why Complementarity Matters for Stability—Hong Kong SAR and Singapore as Asian Financial Centers

Author/Editor: Vanessa Le Lesle, Franziska Ohnsorge, Minsuk Kim, Srikant Seshadri.

Release Date:July, 2014

There is much speculation regarding a “race for dominance” among financial centers in Asia, arising from the anticipated financial opening up of China. This frame of reference is, to an extent, a more...



Price: $18.00
Safe Havens, Feedback Loops, and Shock Propagation in Global Asset Prices

Author/Editor: Franziska Ohnsorge, Marcin Wolski, Yuanyan Sophia Zhang.

Release Date:May, 2014

We create a network of bilateral correlations of changes in sovereign bond yields and individual bank equity price changes since 2000. We extract some stylized facts from this network of asset price more...



Price: $18.00
Toward A Fiscal Union for the Euro Area

Author/Editor: Céline Allard, Petya Koeva Brooks, John C Bluedorn, Fabian Bornhorst, Franziska L Ohnsorge, Katharine M Christopherson Puh.

Release Date:September, 2013

This is on a highly topical issue and addresses a key policy issue for Europe—namely, reinforcing EMU institutional architecture along with the Banking Union. Some proposals have emerged more...



Price: $10.00
Do Inflows or Outflows Dominate? Global Implications of Capital Account Liberalization in China

Author/Editor: Tamim Bayoumi, Franziska Ohnsorge.

Release Date:August, 2013

This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies more...



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Precautionary Savings in the Great Recession

Author/Editor: Ashoka Mody, Franziska Ohnsorge, Damiano Sandri.

Release Date:February, 2012

Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings more...



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After the Crisis: Lower Consumption Growth but Narrower Global Imbalances?

Author/Editor: Franziska Ohnsorge, Ashoka Mody.

Release Date:January, 2010

We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary behavior in the face of uncertainty. We find that in the short run, continued more...



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Can Domestic Policies Influence Inflation?

Author/Editor: Ashoka Mody, Franziska Ohnsorge.

Release Date:November, 2007

Globalization operates not only by reducing domestic pressures on inflation but also by reducing the scope of domestic authorities to influence the pace of inflation. First, as markets are more...



Price: $18.00
Money Demand and Inflation in Dollarized Economies : The Case of Russia

Author/Editor: Franziska Ohnsorge, Nienke Oomes.

Release Date:July, 2005

Money demand in dollarized economies often appears to be highly unstable, making it difficult to forecast and control inflation. In this paper, we show that a stable money demand function for Russia more...



Price: $15.00