Recent Analysis and Research

Posted September 2, 2014
Reuven Glick and Mark M. Spiegel

Economic Letter a Publication of Economic Research

A new volume, Prospects for Asia and the Global Economy, summarizes the 2013 Asia Economic Policy Conference hosted by the Federal Reserve Bank of San Francisco’s Center for Pacific Basin Studies. The conference focused on challenges faced by policymakers in advanced and emerging economies as they continue to recover from the recent global financial crisis. Issues discussed included the monetary policy spillovers from advanced economies to emerging markets, the costs and benefits of foreign reserve accumulation, and the desirability of macroprudential interventions, restrictions on cross-border capital flows, and financial regulatory reforms to reduce the likelihood of future crises.

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Posted August 28, 2014
Eugenio Cerutti, Galina Hale, and Camelia Minoiu

Working Papers a Publication of Economic Research

We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures, which account for almost one third of total cross-border loan exposures, increased during the global financial. We show that banks with lower levels of capital favor syndicated over other kinds of cross-border loans, that borrower country characteristics indicate a diversification motive for syndication, and that information asymmetries between lender and borrower countries became more binding during the recent crisis.

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The New Geography of Jobs (EiP)

Posted April 30, 2014

The New Geography of Jobs

In the 1950s, the best indicator of a community's economic success was its level of physical capital. In today's world, the best indicator of a community's economic success is human capital. Professor Enrico Moretti discusses the factors shaping community development and the pivotal role of college-educated workers.

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