Joshua Aizenman

University of Southern California - Department of Economics

3620 South Vermont Ave. Kaprielian (KAP) Hall, 300

Los Angeles, CA 90089

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

42

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CITATIONS
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55

Scholarly Papers (42)

The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China

BOFIT Discussion Paper No. 4/2015
Number of pages: 27 Posted: 24 Feb 2015
Joshua Aizenman
University of Southern California - Department of Economics
Downloads 91 (280,563)

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export led growth, CNY internationalization, mercantilism, financial integration, FDI

The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China

NBER Working Paper No. w20943
Number of pages: 25 Posted: 09 Feb 2015
Joshua Aizenman
University of Southern California - Department of Economics
Downloads 25 (501,622)

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2.

Measuring Systemic Risk Contribution of International Mutual Funds

ADBI Working Paper 594
Number of pages: 16 Posted: 14 Sep 2016
Joshua Aizenman, Yothin Jinjarak and Huanhuan Zheng
University of Southern California - Department of Economics, Victoria University of Wellington and National University of Singapore
Downloads 92 (276,427)

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systemic risk contribution, systemic risk, mutual funds, international mutual funds, global financial system

3.

A Modern Reincarnation of Mundell-Fleming's Trilemma

Number of pages: 28 Posted: 06 Mar 2018
Joshua Aizenman
University of Southern California - Department of Economics
Downloads 68 (330,373)

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The Impossible Trinity, International Reserves, Financial Crises, Financial Stability, Swap Lines, Debt and Banking Crises, Balance Sheet Exposure

4.

The People's Republic of China's Growth, Stability, and Use of International Reserves

ADBI Working Paper 455
Number of pages: 28 Posted: 28 Jan 2014
Joshua Aizenman, Yothin Jinjarak and Nancy Peregrim Marion
University of Southern California - Department of Economics, University of London - SOAS - Department of Financial and Management Studies and Dartmouth College - Department of Economics
Downloads 61 (349,408)

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current account imbalances, structural change, financial crisis, PRC, international reserves

Domestic and Multilateral Effects of Capital Controls in Emerging Markets

ECB Working Paper No. 1844
Number of pages: 74 Posted: 26 Aug 2015
Government of Canada - Bank of Canada, European Central Bank (ECB), European Central Bank (ECB) and University of Southern California - Department of Economics
Downloads 52 (383,104)

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Capital controls, capital flows, policy spillovers; emerging market economies; monetary policy trilemma

Domestic and Multilateral Effects of Capital Controls in Emerging Markets

NBER Working Paper No. w20822
Number of pages: 54 Posted: 12 Jan 2015
Government of Canada - Bank of Canada, University of Bologna - Department of Economics, European Central Bank (ECB) and University of Southern California - Department of Economics
Downloads 8 (612,238)
Citation 6

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6.

Real Estate Valuation, Current Account, and Credit Growth Patterns Before and After the 2008–2009 Crisis

ADBI Working Paper 429
Number of pages: 30 Posted: 24 Jul 2013
Joshua Aizenman and Yothin Jinjarak
University of Southern California - Department of Economics and University of London - SOAS - Department of Financial and Management Studies
Downloads 50 (383,459)
Citation 3

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current account, real estate, credit supply, global crisis, housing boom

The Transmission of Federal Reserve Tapering News to Emerging Financial Markets

Number of pages: 27 Posted: 07 Jun 2014
Joshua Aizenman, Mahir Binici and Michael M. Hutchison
University of Southern California - Department of Economics, University of California, Santa Cruz and University of California, Santa Cruz - Department of Economics
Downloads 31 (468,468)
Citation 26

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The Transmission of Federal Reserve Tapering News to Emerging Financial Markets

NBER Working Paper No. w19980
Number of pages: 38 Posted: 19 Mar 2014
Joshua Aizenman, Mahir Binici and Michael M. Hutchison
University of Southern California - Department of Economics, Central Bank of Turkey and University of California, Santa Cruz - Department of Economics
Downloads 17 (552,138)
Citation 3

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International Reserves Before and After the Global Crisis: Is There No End to Hoarding?

CESifo Working Paper Series No. 5237
Number of pages: 39 Posted: 20 Mar 2015
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
Downloads 36 (445,131)

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global financial crisis, gross saving, swap agreements, macro-prudential policies, sovereign wealth funds

International Reserves Before and after the Global Crisis: Is There No End to Hoarding?

NBER Working Paper No. w20386
Number of pages: 47 Posted: 18 Aug 2014
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
Downloads 11 (591,806)
Citation 22

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Flexibility of Adjustment to Shocks: Economic Growth and Volatility of Middle-Income Countries Before and after the Global Financial Crisis of 2008

ADBI Working Paper 526
Number of pages: 31 Posted: 07 Jun 2018
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance, Asian Development Bank - Economic Research and Asian Development Bank
Downloads 14 (571,665)

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growth, institutions, middle income, shocks, volatility

Flexibility of Adjustment to Shocks: Economic Growth and Volatility of Middle-Income Countries Before and after the Global Financial Crisis of 2008

NBER Working Paper No. w23467
Number of pages: 40 Posted: 05 Jun 2017 Last Revised: 13 Jun 2017
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance, Asian Development Bank - Economic Research and Asian Development Bank
Downloads 13 (578,224)

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10.

House Valuations and Economic Growth: Some International Evidence

NBER Working Paper No. w22699
Number of pages: 27 Posted: 03 Oct 2016
Joshua Aizenman, Yothin Jinjarak and Huanhuan Zheng
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance and National University of Singapore
Downloads 18 (526,804)

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11.

The Eurocrisis: Muddling Through, or on the Way to a More Perfect Euro Union?

NBER Working Paper No. w20242
Number of pages: 15 Posted: 23 Jun 2014
Joshua Aizenman
University of Southern California - Department of Economics
Downloads 18 (526,804)
Citation 1

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12.

Financial Development and Output Growth in Developing Asia and Latin America: A Comparative Sectoral Analysis

NBER Working Paper No. w20917
Number of pages: 38 Posted: 02 Feb 2015 Last Revised: 26 Feb 2015
Joshua Aizenman, Donghyun Park and Yothin Jinjarak
University of Southern California - Department of Economics, Asian Development Bank - Economic Research and Victoria University of Wellington - School of Economics & Finance
Downloads 17 (532,575)
Citation 8

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13.

Fundamentals and Sovereign Risk of Emerging Markets

NBER Working Paper No. w18963
Number of pages: 39 Posted: 13 Apr 2013 Last Revised: 25 Apr 2013
University of Southern California - Department of Economics, National Bureau of Economic Research (NBER), University of London - SOAS - Department of Financial and Management Studies and Asian Development Bank - Economic Research
Downloads 17 (532,575)

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14.

Chinese Outwards Mercantilism – the Art and Practice of Bundling

NBER Working Paper No. w21089
Number of pages: 43 Posted: 13 Apr 2015 Last Revised: 19 Apr 2015
Joshua Aizenman, Yothin Jinjarak and Huanhuan Zheng
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance and National University of Singapore
Downloads 16 (538,253)

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15.

Vocational Education, Manufacturing, and Income Distribution: International Evidence and Case Studies

NBER Working Paper No. w23950
Number of pages: 33 Posted: 23 Oct 2017
Joshua Aizenman, Yothin Jinjarak, Nam Ngo and Ilan Noy
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance, Victoria University of Wellington - School of Economics and Finance and Victoria University of Wellington
Downloads 14 (550,127)

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16.

Monetary Policy Spillovers and the Trilemma in the New Normal: Periphery Country Sensitivity to Core Country Conditions

NBER Working Paper No. w21128
Number of pages: 51 Posted: 04 May 2015
Joshua Aizenman, Menzie David Chinn and Hiro Ito
University of Southern California - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Portland State University - Department of Economics
Downloads 14 (550,127)
Citation 36

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17.

Credit Ratings and the Pricing of Sovereign Debt During the Euro Crisis

NBER Working Paper No. w19125
Number of pages: 38 Posted: 18 Jun 2013
Joshua Aizenman, Mahir Binici and Michael M. Hutchison
University of Southern California - Department of Economics, Central Bank of Turkey and University of California, Santa Cruz - Department of Economics
Downloads 14 (550,127)
Citation 5

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18.

Balance Sheet Effects on Monetary and Financial Spillovers: The East Asian Crisis Plus 20

NBER Working Paper No. w22737
Number of pages: 49 Posted: 17 Oct 2016
Joshua Aizenman, Menzie David Chinn and Hiro Ito
University of Southern California - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Portland State University - Department of Economics
Downloads 11 (568,285)
Citation 2

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19.

Optimal Currency Area: A 20th Century Idea for the 21st Century?

NBER Working Paper No. w22097
Number of pages: 15 Posted: 21 Mar 2016
Joshua Aizenman
University of Southern California - Department of Economics
Downloads 11 (568,285)

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20.

China's Growth, Stability, and Use of International Reserves

NBER Working Paper No. w19739
Number of pages: 34 Posted: 20 Dec 2013
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance, University of London - SOAS - Department of Financial and Management Studies and Dartmouth College - Department of Economics
Downloads 11 (568,285)
Citation 4

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21.

East Asian Economies and Financial Globalization in the Post-Crisis World

NBER Working Paper No. w22268
Number of pages: 35 Posted: 24 May 2016
Joshua Aizenman and Hiro Ito
University of Southern California - Department of Economics and Portland State University - Department of Economics
Downloads 9 (580,637)

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22.

The More Divergent, the Better? Lessons on Trilemma Policies and Crises for Asia

Asian Development Review 31:2
Number of pages: 34 Posted: 07 Apr 2016
Joshua Aizenman and Hiro Ito
University of Southern California - Department of Economics and Portland State University - Department of Economics
Downloads 9 (580,637)
Citation 1

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impossible trinity, international reserves, financial liberalization, financial crisis, exchange rate regime

23.

Real Estate Valuation, Current Account and Credit Growth Patterns, Before and after the 2008-9 Crisis

NBER Working Paper No. w19190
Number of pages: 35 Posted: 29 Jun 2013
Joshua Aizenman and Yothin Jinjarak
University of Southern California - Department of Economics and University of London - SOAS - Department of Financial and Management Studies
Downloads 8 (586,868)
Citation 1

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24.

Fiscal Space and Government-Spending & Tax-Rate Cyclicality Patterns: A Cross-Country Comparison, 1960-2016

NBER Working Paper No. w25012
Number of pages: 95 Posted: 17 Sep 2018
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance, Victoria University of Wellington and Asian Development Bank - Economic Research
Downloads 7 (593,158)
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25.

The Interest Rate Effect on Private Saving: Alternative Perspectives

NBER Working Paper No. w22872
Number of pages: 52 Posted: 28 Nov 2016
Joshua Aizenman, Yin-Wong Cheung and Hiro Ito
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and Portland State University - Department of Economics
Downloads 7 (593,158)
Citation 1

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26.

Precautionary Strategies and Household Saving

NBER Working Paper No. w21019
Number of pages: 37 Posted: 16 Mar 2015
Joshua Aizenman, Eduardo A. Cavallo and Ilan Noy
University of Southern California - Department of Economics, Inter-American Development Bank (IDB) - Research Department and Victoria University of Wellington
Downloads 7 (593,158)
Citation 2

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27.

Living with the Trilemma Constraint: Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries

NBER Working Paper No. w19448
Number of pages: 43 Posted: 20 Sep 2013
Joshua Aizenman and Hiro Ito
University of Southern California - Department of Economics and Portland State University - Department of Economics
Downloads 7 (593,158)
Citation 4

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28.

Financial Spillovers and Macroprudential Policies

NBER Working Paper No. w24105
Number of pages: 44 Posted: 16 Dec 2017
Joshua Aizenman, Menzie David Chinn and Hiro Ito
University of Southern California - Department of Economics, University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics and Portland State University - Department of Economics
Downloads 6 (599,646)
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29.

Tax Revenue Trends in Asia and Latin America: A Comparative Analysis

NBER Working Paper No. w21755
Number of pages: 37 Posted: 30 Nov 2015
Joshua Aizenman, Yothin Jinjarak, Jungsuk Kim and Donghyun Park
University of Southern California - Department of Economics, Victoria University of Wellington - School of Economics & Finance, Sogang University - Institute of International and Area Studies and Asian Development Bank - Economic Research
Downloads 6 (599,646)

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30.

Saving and the Long Shadow of Macroeconomic Shocks

NBER Working Paper No. w19067
Number of pages: 33 Posted: 24 May 2013
Joshua Aizenman, Joshua Aizenman and Ilan Noy
University of Southern California - Department of Economics, National Bureau of Economic Research (NBER) and Victoria University of Wellington
Downloads 6 (599,646)
Citation 2

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31.

The Currency Composition of International Reserves, Demand for International Reserves, and Global Safe Assets

NBER Working Paper No. w25934
Number of pages: 39 Posted: 11 Jun 2019
Joshua Aizenman, Yin-Wong Cheung and Xingwang Qian
University of Southern California - Department of Economics, City University of Hong Kong - Department of Economics & Finance and State University of New York, Buffalo State
Downloads 4 (613,096)
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32.

Hoarding for Stormy Days - Test of International Reserves Providing Financial Buffer Services

NBER Working Paper No. w25909
Number of pages: 39 Posted: 05 Jun 2019
Joshua Aizenman and Yothin Jinjarak
University of Southern California - Department of Economics and Victoria University of Wellington - School of Economics & Finance
Downloads 4 (613,096)
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33.

Financial Trilemma in China and a Comparative Analysis with India

Pacific Economic Review, Wiley Blackwell, vol. 18(2), pages 123-146, May, 2012, UC Santa Cruz Working Paper Series 2012
Number of pages: 32 Posted: 30 May 2019
Joshua Aizenman and Rajeswari Sengupta
University of Southern California - Department of Economics and Indira Gandhi Institute of Development Research (IGIDR)
Downloads 4 (613,096)
Citation 9

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Financial Trilemma, International reserves, Foreign exchange intervention, Monetary policy, Capital account openness.

34.

Exchange Market Pressure in OECD and Emerging Economies: Domestic vs. External Factors and Capital Flows in the Old and New Normal

NBER Working Paper No. w21662
Number of pages: 35 Posted: 26 Oct 2015 Last Revised: 01 Nov 2015
Joshua Aizenman and Mahir Binici
University of Southern California - Department of Economics and Central Bank of Turkey
Downloads 4 (613,096)

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35.

Liquidity and Foreign Asset Management Challenges for Latin American Countries

NBER Working Paper No. w20646
Number of pages: 40 Posted: 03 Nov 2014
Joshua Aizenman and Daniel Riera-Crichton
University of Southern California - Department of Economics and Bates College
Downloads 4 (613,096)

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36.

International Coordination and Precautionary Policies

NBER Working Paper No. w21793
Number of pages: 18 Posted: 14 Dec 2015
Joshua Aizenman
University of Southern California - Department of Economics
Downloads 3 (621,025)
Citation 4

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37.

Fiscal Challenges in Multilayered Unions: An Overview and Case Study

NBER Working Paper No. w20564
Number of pages: 38 Posted: 14 Oct 2014 Last Revised: 16 Oct 2014
Joshua Aizenman and Gunnar Gunnarsson
University of Southern California - Department of Economics and Central Bank of Iceland
Downloads 3 (621,025)
Citation 2

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Inflation and Exchange Rate Targeting Challenges Under Fiscal Dominance

NBER Working Paper No. w25996
Number of pages: 46 Posted: 27 Jun 2019
Rashad Ahmed, Joshua Aizenman and Yothin Jinjarak
University of Southern California - Department of Economics, University of Southern California - Department of Economics and Victoria University of Wellington - School of Economics & Finance
Downloads 1 (675,558)
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Inflation and Exchange Rate Targeting Challenges Under Fiscal Dominance

NBER Working Paper No. w25996
Number of pages: 46 Posted: 01 Jul 2019
Rashad Ahmed, Joshua Aizenman and Yothin Jinjarak
University of Southern California - Department of Economics, University of Southern California - Department of Economics and Victoria University of Wellington - School of Economics & Finance
Downloads 1 (675,558)
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39.

Fundamentals and Sovereign Risk of Emerging Markets

Pacific Economic Review, Vol. 21, Issue 2, pp. 151-177, 2016
Number of pages: 27 Posted: 18 May 2016
Joshua Aizenman, Yothin Jinjarak and Donghyun Park
University of Southern California - Department of Economics, University of London - SOAS - Department of Financial and Management Studies and Asian Development Bank - Economic Research
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40.

Internationalization of the RMB, Capital Market Openness and Financial Reforms in China

Pacific Economic Review, Vol. 20, Issue 3, pp. 444-460, 2015
Number of pages: 17 Posted: 20 Aug 2015
Joshua Aizenman
University of Southern California - Department of Economics
Downloads 0 (661,847)
Citation 4
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41.

Managing Financial Integration and Capital Mobility — Policy Lessons from the Past Two Decades

Review of International Economics, Vol. 21, Issue 4, pp. 636-653, 2013
Number of pages: 18 Posted: 16 Aug 2013
Joshua Aizenman and Brian Pinto
University of Southern California - Department of Economics and Independent
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Citation 1
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42.

Net Fiscal Stimulus During the Great Recession

Review of Development Economics - Special Issue. Guest Editor: Zhihao Yu, Vol. 17, Issue 3, pp. 397-413, 2013
Number of pages: 17 Posted: 18 Jul 2013
Joshua Aizenman and Gurnain Kaur Pasricha
University of Southern California - Department of Economics and Government of Canada - Bank of Canada
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Citation 4
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