AMPF Papers

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Policy Note

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May 2018

Trump Trade Policy: Exercise in Futility

Douglas A. IRWIN
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AMPF Papers

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Commissioned Paper

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May 2014

Trilemmas and Tradeoffs: Living with Financial Globalization

Maurice OBSTFELD
This paper evaluates the capacity of emerging market economies (EMEs) to moderate the domestic impact of global financial and monetary forces through their own monetary policies. Those EMEs able to exploit a flexible exchange rate are far better positioned than those that devote monetary policy to f...
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AMPF Papers

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Policy Note

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May 2018

The Trilemma Then and Now

Alan M. TAYLOR
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AMPF Papers

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Commissioned Paper

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May 2019

The Dollar Hegemon? Implications for Policy Makers

Pierre-Olivier GOURINCHAS
This paper reviews the central role of the US dollar in the global trade, financial and monetary systems. The dominance of the US dollar as an invoicing, issuance, anchor and reserve currency has increased over time, especially so and somewhat paradoxically since the end of the Bretton Woods system....
Keywords: Pierre-Olivier Gourinchas (University of California, Berkeley)
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AMPF Papers

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Commissioned Paper

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May 2017

Systematic Managed Floating

Jeffrey FRANKEL
A majority of countries neither freely float their currencies nor firmly peg. But most of the remainder in practice also don’t obey such well-defined intermediate exchange rate regimes as target zones. This paper proposes to define an intermediate regime, to be called “systematic managed floatin...
Keywords: Jeffrey FRANKEL
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