Robert N. McCauley

Boston University, Global Development Policy Center

Nonresident Senior Fellow

67 Bay State Road

Boston, MA 02215

United States

University of Oxford - Oxford Centre for Global History

Mansfield Road

Oxford, Oxfordshire OX1 4AU

United Kingdom

SCHOLARLY PAPERS

69

DOWNLOADS
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18,391

SSRN CITATIONS
Rank 1,230

SSRN RANKINGS

Top 1,230

in Total Papers Citations

224

CROSSREF CITATIONS

780

Ideas:
“  Central bank intervention in securities markets: from bank lender of last resort to securities firm lender of last resort to market maker of last resort to underwriter of last resort to securities buyer of last resort (see https://ftalphaville.ft.com/2020/04/30/1588254981000/How-should-the-Fed-buy-junk-bonds-/)  ”

Scholarly Papers (69)

1.

Dollar Appreciation in 2008: Safe Haven, Carry Trades, Dollar Shortage and Overhedging

BIS Quarterly Review December 2009
Number of pages: 9 Posted: 07 Aug 2012
Robert N. McCauley, Robert N. McCauley and Patrick McGuire
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 1,874 (10,908)
Citation 2

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2.

Currency Internationalisation: Lessons from the Global Financial Crisis and Prospects for the Future in Asia and the Pacific (Full Publication)

BIS Paper No. 61
Number of pages: 236 Posted: 14 Feb 2012
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS), affiliation not provided to SSRN, Central Bank of Iceland, Princeton University - Department of Economics, Reserve Bank of New Zealand, Bank for International Settlements (BIS), affiliation not provided to SSRN, Osaka University - Graduate School of Economics, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, affiliation not provided to SSRN, Chinese Academy of Social Sciences (CASS), affiliation not provided to SSRN, Hong Kong Monetary Authority - Hong Kong Institute for Monetary Research (HKIMR), affiliation not provided to SSRN, The University of Hong Kong - School of Economics and Finance, Sungkyunkwan University, affiliation not provided to SSRN, affiliation not provided to SSRN, Korea University - Department of Economics, Korea University, affiliation not provided to SSRN, affiliation not provided to SSRN, affiliation not provided to SSRN and Government of the Republic of the Philippines - Monetary Stability Sector
Downloads 1,734 (12,345)
Citation 1

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3.

Renminbi Internationalization and China’s Financial Development

BIS Quarterly Review, December 2011
Number of pages: 16 Posted: 06 Sep 2012
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 1,317 (18,914)
Citation 2

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The Failure of Covered Interest Parity: FX Hedging Demand and Costly Balance Sheets

BIS Working Papers No. 590
Number of pages: 63 Posted: 02 Feb 2017 Last Revised: 23 Nov 2018
Claudio E. V. Borio, Mobeen Iqbal, Robert N. McCauley, Robert N. McCauley, Patrick McGuire and Vladyslav Sushko
Bank for International Settlements (BIS) - Research and Policy Analysis, BlackRock, Inc, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 868 (34,109)
Citation 39

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Covered interest parity, FX swaps, currency basis, limits to arbitrage, US dollar funding, currency hedging, preferred habitat investors, term structure

The Failure of Covered Interest Parity: FX Hedging Demand and Costly Balance Sheets

BIS Working Paper No. 590
Number of pages: 64 Posted: 28 Oct 2016
Vladyslav Sushko, Claudio E. V. Borio, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) - Research and Policy Analysis, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 168 (222,243)

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Covered interest parity, FX swaps, currency basis, limits to arbitrage, US dollar funding, currency hedging

5.

US Dollar Money Market Funds and Non-US Banks

BIS Quarterly Review, March 2009
Number of pages: 17 Posted: 27 Jul 2012
Naohiko Baba, Robert N. McCauley, Robert N. McCauley and Srichander Ramaswamy
Bank of Japan - Financial Markets Department, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 958 (30,164)
Citation 10

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6.

Covered Interest Parity Lost: Understanding the Cross-Currency Basis

BIS Quarterly Review September 2016
Number of pages: 20 Posted: 05 Oct 2016
Claudio E. V. Borio, Robert N. McCauley, Robert N. McCauley, Patrick McGuire and Vladyslav Sushko
Bank for International Settlements (BIS) - Research and Policy Analysis, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 774 (40,571)
Citation 16

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7.

Living with Flexible Exchange Rates: Issues and Recent Experience in Inflation Targeting Emerging Market Economies

BIS Working Paper No. 130
Number of pages: 55 Posted: 13 Dec 2005
Corrinne Ho, Robert N. McCauley and Robert N. McCauley
Bank for International Settlements and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 577 (59,697)
Citation 30

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inflation targeting, exchange rate, monetary policy

Risk-On/Risk-Off, Capital Flows, Leverage and Safe Assets

BIS Working Paper No. 382
Number of pages: 20 Posted: 27 Jul 2012 Last Revised: 13 May 2014
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 416 (88,017)

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Capital flows, safe assets, international flow of funds, VIX, global liquidity

Risk-On/Risk-Off, Capital Flows, Leverage, and Safe Assets

ADBI Working Paper 405
Number of pages: 18 Posted: 29 Jan 2013
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 120 (291,152)
Citation 14

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capital flows, safe assets, international flow funds, vix, global liquidity

Risk-On/Risk-Off, Capital Flows, Leverage and Safe Assets

Journal of Financial Perspectives, Vol. 1, No. 2, 2013
Number of pages: 15 Posted: 27 Nov 2017
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 25 (624,148)

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9.

The Architecture of Global Banking: From International to Multinational?

BIS Quarterly Review, March 2010
Number of pages: 13 Posted: 09 Aug 2012
Robert N. McCauley, Robert N. McCauley, Patrick McGuire and Goetz von Peter
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Bank for International Settlements (BIS) and Bank for International Settlements - Research and Policy Analysis
Downloads 542 (64,439)
Citation 12

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10.

Do China's Capital Controls Still Bind? Implications for Monetary Autonomy and Capital Liberalisation

BIS Working Paper No. 233
Number of pages: 34 Posted: 25 Sep 2007
Guonan Ma, Robert N. McCauley and Robert N. McCauley
Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 430 (85,431)
Citation 25

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Foreign exchange market, capital flows, capital controls, monetary policy, financial stability and the Chinese economy

11.

Interpreting TARGET2 Balances

BIS Working Paper No. 393
Number of pages: 23 Posted: 05 Jan 2013
Stephen G. Cecchetti, Stephen G. Cecchetti, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
National Bureau of Economic Research (NBER)Brandeis International Business School, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 419 (88,048)
Citation 2

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payment system, financial crisis, monetary policy, international lending

12.

The Euro and European Financial Markets

BIS Working Paper No. 41
Number of pages: 65 Posted: 13 Dec 2005
Robert N. McCauley, Robert N. McCauley and William R. White
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Independent
Downloads 418 (88,290)
Citation 26

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13.

Offshore Markets for the Domestic Currency: Monetary and Financial Stability Issues

BIS Working Paper No. 320
Number of pages: 32 Posted: 30 Oct 2010
Dong He, Robert N. McCauley and Robert N. McCauley
Hong Kong Monetary Authority and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 412 (89,825)
Citation 24

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Offshore Markets, Currency Internationalisation, Monetary Stability, Financial Stability

14.

Exchange Rates and Global Volatility: Implications for Asia-Pacific Currencies

BIS Quarterly Review, March 2007
Number of pages: 12 Posted: 19 Jun 2012
John Cairns, Corrinne Ho, Robert N. McCauley and Robert N. McCauley
affiliation not provided to SSRN, Bank for International Settlements and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 410 (90,339)
Citation 2

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15.

The Markets for Non-Deliverable Forwards in Asian Currencies

BIS Quarterly Review, June 2004
Number of pages: 14 Posted: 08 May 2012 Last Revised: 30 Sep 2013
Guonan Ma, Corrinne Ho, Robert N. McCauley and Robert N. McCauley
Bruegel, Bank for International Settlements and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 390 (95,638)
Citation 5

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16.

The Euro and the Dollar

BIS Working Paper No. 50
Number of pages: 81 Posted: 13 Dec 2005
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 390 (95,638)
Citation 20

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17.

Asian Local Currency Bond Markets

BIS Quarterly Review, June 2004
Number of pages: 14 Posted: 08 May 2012 Last Revised: 29 Sep 2013
Guorong Jiang, Robert N. McCauley and Robert N. McCauley
Bank for International Settlements (BIS) and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 363 (103,840)

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18.

Global Credit and Domestic Credit Booms

BIS Quarterly Review, September 2011
Number of pages: 15 Posted: 03 Sep 2012 Last Revised: 29 Sep 2013
Claudio E. V. Borio, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
Bank for International Settlements (BIS) - Research and Policy Analysis, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 322 (118,557)
Citation 9

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19.

Foreign Exchange Trading in Emerging Currencies: More Financial, More Offshore

BIS Quarterly Review, March 2011
Number of pages: 9 Posted: 28 Aug 2012
Robert N. McCauley, Robert N. McCauley and Michela Scatigna
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 276 (139,500)
Citation 3

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20.

Non-Deliverable Forwards: 2013 and Beyond

BIS Quarterly Review March 2014
Number of pages: 14 Posted: 23 Jun 2014
Robert N. McCauley, Robert N. McCauley, Chang Shu and Guonan Ma
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Independent and Bruegel
Downloads 267 (144,359)

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21.

FX Swaps and Forwards: Missing Global Debt?

BIS Quarterly Review September 2017
Number of pages: 18 Posted: 26 Sep 2017
Claudio E. V. Borio, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
Bank for International Settlements (BIS) - Research and Policy Analysis, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 255 (151,039)
Citation 11

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22.

Internationalising a Currency: The Case of the Australian Dollar

BIS Quarterly Review, December 2006
Number of pages: 14 Posted: 15 Jun 2012
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 255 (151,039)
Citation 2

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23.

Rapid Credit Growth and International Credit: Challenges for Asia

BIS Working Paper No. 377
Number of pages: 28 Posted: 19 Apr 2012
Stefan Avdjiev, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
Bank for International Settlements (BIS), University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 244 (157,830)
Citation 6

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international credit, credit booms, cross-border lending, emerging markets

24.

Dollar Credit to Emerging Market Economies

BIS Quarterly Review December 2015
Number of pages: 15 Posted: 08 Dec 2015
Robert N. McCauley, Robert N. McCauley, Patrick McGuire and Vladyslav Sushko
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 239 (161,050)
Citation 5

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25.

Government Debt Management at Low Interest Rates

BIS Quarterly Review, June 2009
Number of pages: 17 Posted: 29 Jul 2012
Robert N. McCauley, Robert N. McCauley and Kazuo Ueda
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and University of Tokyo - Faculty of Economics
Downloads 210 (182,121)
Citation 3

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26.

Trading Asian Currencies

BIS Quarterly Review, March 2005
Number of pages: 10 Posted: 18 May 2012 Last Revised: 29 Sep 2013
Bank for International Settlements, Corrinne Ho, Guonan Ma, Robert N. McCauley and Robert N. McCauley
Bank for International Settlements (BIS), Bank for International Settlements, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 209 (182,962)
Citation 2

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Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit

BIS Working Paper No. 431
Number of pages: 38 Posted: 27 Feb 2014
Dong He, Robert N. McCauley and Robert N. McCauley
Hong Kong Monetary Authority and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 143 (254,420)

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global liquidity, taylor rule, monetary policy, bond markets, exchange rates, foreign currency debt, dollarisation, macroprudential policy, capital controls

Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit

HKIMR Working Paper No.15/2013
Number of pages: 47 Posted: 28 Oct 2013
Dong He, Robert N. McCauley and Robert N. McCauley
Hong Kong Monetary Authority and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 57 (457,986)
Citation 19

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28.

Eurodollar Banking and Currency Internationalisation

BIS Quarterly Review, June 2012
Number of pages: 14 Posted: 14 Sep 2012
Dong He, Robert N. McCauley and Robert N. McCauley
Hong Kong Monetary Authority and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 189 (200,460)
Citation 1

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29.

Non-Deliverable Forwards: Impact of Currency Internationalisation and Derivatives Reform

BIS Quarterly Review December 2016
Number of pages: 13 Posted: 22 Dec 2016
Robert N. McCauley, Robert N. McCauley and Chang Shu
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Independent
Downloads 173 (216,461)
Citation 7

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30.

Global Dollar Credit: Links to US Monetary Policy and Leverage

BIS Working Paper No. 483
Number of pages: 36 Posted: 22 Jan 2015
Robert N. McCauley, Robert N. McCauley, Patrick McGuire and Vladyslav Sushko
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 168 (221,980)
Citation 8

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US dollar, offshore credit, interest rate differentials, leverage, bond fund flows, policy rates, term premium, unconventional monetary policy

31.

Unifying Government Bond Markets in East Asia

BIS Quarterly Review, December 2003
Number of pages: 10 Posted: 02 May 2012
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 162 (228,878)

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32.
Downloads 141 (256,487)
Citation 6

Renminbising China's Foreign Assets

CESifo Working Paper Series No. 3009
Number of pages: 27 Posted: 17 Apr 2010
Yin-Wong Cheung, Guonan Ma, Robert N. McCauley and Robert N. McCauley
University of California, Santa Cruz - Department of Economics, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 139 (260,286)

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renminbi internationalisation, net international asset position, convertibility, exchange rate uncertainty, dollar peg

Renminbising China'S Foreign Assets

Pacific Economic Review, Vol. 16, Issue 1, pp. 1-17, 2011
Number of pages: 17 Posted: 08 Feb 2011
Yin-Wong Cheung, Guonan Ma, Robert N. McCauley and Robert N. McCauley
University of California, Santa Cruz - Department of Economics, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 2 (814,953)
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33.

Central Bank Swaps Then and Now: Swaps and Dollar Liquidity in the 1960s

BIS Working Paper No. 851
Number of pages: 47 Posted: 15 Apr 2020
Robert N. McCauley, Robert N. McCauley and Catherine R. Schenk
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and University of Oxford
Downloads 132 (269,987)
Citation 2

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central bank swaps, international lender of last resort, central bank cooperation, eurodollar market, financial crises, Federal Reserve, Bank for International Settlements

34.

The Anatomy of the Bond Market Turbulence of 1994

BIS Working Paper No. 32
Number of pages: 30 Posted: 13 Dec 2005
Claudio E. V. Borio, Robert N. McCauley and Robert N. McCauley
Bank for International Settlements (BIS) - Research and Policy Analysis and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 127 (277,898)
Citation 5

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35.
Downloads 119 (291,555)
Citation 9

Financial Deglobalisation in Banking?

BIS Working Paper No. 650
Number of pages: 31 Posted: 03 Jul 2017
Robert N. McCauley, Robert N. McCauley, Agustín S. Bénétrix, Patrick McGuire and Goetz von Peter
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Trinity College (Dublin), Bank for International Settlements (BIS) and Bank for International Settlements - Research and Policy Analysis
Downloads 119 (292,933)
Citation 9

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Financial globalisation, international banking, consolidation, ownership

Financial Deglobalisation in Banking?

Journal of International Money and Finance, Vol. 94, June 2019 DOI/10.1016/j.jimonfin.2019.01.011
Posted: 09 Apr 2019
Robert N. McCauley, Robert N. McCauley, Agustín S. Bénétrix, Patrick McGuire and Goetz von Peter
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center, Trinity College (Dublin), Bank for International Settlements (BIS) and Bank for International Settlements - Research and Policy Analysis

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Financial globalisation; International banking; Consolidation; Bank nationality; Ownership

36.

Breaking Free of the Triple Coincidence in International Finance

BIS Working Paper No. 524
Number of pages: 41 Posted: 21 Oct 2015
Stefan Avdjiev, Robert N. McCauley, Robert N. McCauley and Hyun Song Shin
Bank for International Settlements (BIS), University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 117 (295,004)
Citation 10

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capital flows, global liquidity, international currencies

37.

Asian Banks and the International Interbank Market

BIS Quarterly Review, June 2008
Number of pages: 13 Posted: 16 Jul 2012
Robert N. McCauley, Robert N. McCauley and Jens Zukunft
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Federal Foreign Office (Auswärtiges AMT)
Downloads 111 (306,118)

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38.

Currency Movements Drive Reserve Composition

BIS Quarterly Review December 2014
Number of pages: 14 Posted: 11 Dec 2014
Robert N. McCauley, Robert N. McCauley and Tracy Chan
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 105 (318,108)
Citation 3

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39.

Estimation of Asian Effective Exchange Rates: A Technical Note

BIS Working Paper No. 217
Number of pages: 34 Posted: 20 Sep 2007
San Sau Fung, Marc Klau, Guonan Ma, Robert N. McCauley and Robert N. McCauley
affiliation not provided to SSRN, Bank for International Settlements (BIS) - Monetary and Economic Department, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 99 (330,613)
Citation 3

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Effective exchange rates, intra-regional trade

40.

The 2008 Crisis: Transpacific or Transatlantic?

BIS Quarterly Review December 2018
Number of pages: 20 Posted: 29 Jan 2019
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 92 (346,430)

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41.

Basket Weaving: The Euromarket Experience with Basket Currency Bonds

BIS Quarterly Review, March 2006
Number of pages: 14 Posted: 05 Jun 2012
Clifford Robert Dammers, Robert N. McCauley and Robert N. McCauley
affiliation not provided to SSRN and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 92 (346,430)

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42.
Downloads 89 (353,676)
Citation 6

Triffin: Dilemma or Myth?

BIS Working Paper No. 684
Number of pages: 43 Posted: 20 Dec 2017
Michael D. Bordo, Robert N. McCauley and Robert N. McCauley
Rutgers University, New Brunswick - Department of Economics and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 69 (414,763)
Citation 2

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Triffin dilemma, foreign exchange reserves, gold, US current account, safe assets, world's banker

Triffin: Dilemma or Myth?

NBER Working Paper No. w24195
Number of pages: 40 Posted: 17 Jan 2018 Last Revised: 12 Aug 2021
Michael D. Bordo, Robert N. McCauley and Robert N. McCauley
Rutgers University, New Brunswick - Department of Economics and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 20 (661,903)
Citation 3

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43.

Currency Intervention and the Global Portfolio Balance Effect: Japanese Lessons

BIS Working Paper No. 389
Number of pages: 17 Posted: 26 Oct 2012
Petra Gerlach-Kristen, Robert N. McCauley, Robert N. McCauley and Kazuo Ueda
Swiss National Bank, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and University of Tokyo - Faculty of Economics
Downloads 87 (358,681)

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Intervention, portfolio balance effect, Japan

44.

Asset Managers, Eurodollars and Unconventional Monetary Policy

BIS Working Paper No. 578
Number of pages: 30 Posted: 30 Aug 2016
Lawrence Kreicher, Robert N. McCauley and Robert N. McCauley
Dartmouth College and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 83 (369,108)
Citation 1

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asset managers, mutual funds, derivatives, unconventional monetary policy, forward guidance, money market, eurodollar futures

45.

The Evolving Renminbi Regime and Implications for Asian Currency Stability

BIS Working Paper No. 321
Number of pages: 22 Posted: 30 Oct 2010
Guonan Ma, Robert N. McCauley and Robert N. McCauley
Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 81 (374,520)
Citation 12

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Exchange Rate Regime, Renminbi, Effective Exchange Rate, Regional Currency Stability, Regional Monetary Cooperation

46.

The Bond Benchmark Continues to Tip to Swaps

BIS Quarterly Review March 2017
Number of pages: 11 Posted: 20 Mar 2017
Lawrence Kreicher, Robert N. McCauley, Robert N. McCauley and Philip D. Wooldridge
Dartmouth College, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 76 (388,514)
Citation 1

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47.

Choosing Instruments in Managing Dollar Foreign Exchange Reserves

BIS Quarterly Review, March 2003
Number of pages: 8 Posted: 18 Apr 2012
Robert N. McCauley, Robert N. McCauley and Ben S. C. Fung
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank of Canada
Downloads 75 (391,388)
Citation 1

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48.

Recent RMB Policy and Currency Co-Movements

BIS Working Paper No. 727
Number of pages: 27 Posted: 14 Jun 2018
Robert N. McCauley, Robert N. McCauley and Chang Shu
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Independent
Downloads 74 (394,342)
Citation 3

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exchange-rate determination; renminbi (CNY) policy, renminbi zone, spillovers, renminbi internationalisation

49.
Downloads 72 (400,374)
Citation 6

Global and Euro Imbalances: China and Germany

BIS Working Paper No. 424
Number of pages: 32 Posted: 27 Feb 2014
Guonan Ma, Robert N. McCauley and Robert N. McCauley
Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 72 (405,033)

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Global imbalances, current account, capital account, saving and investment, international assets and liabilities, distribution of income, world banker

Global and Euro Imbalances: China and Germany

China & World Economy, Vol. 22, Issue 1, pp. 1-29, 2014
Number of pages: 29 Posted: 18 Jan 2016
Guonan Ma, Robert N. McCauley and Robert N. McCauley
Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 0
Citation 2
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current account, distribution of income, global imbalances, international investment, saving and investment

50.

Non-US Banks' Claims on the Federal Reserve

BIS Quarterly Review March 2014
Number of pages: 10 Posted: 23 Jun 2014
Robert N. McCauley, Robert N. McCauley and Patrick McGuire
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 71 (403,517)
Citation 4

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51.

Capital Flows in East Asia Since the 1997 Crisis

BIS Quarterly Review, June 2003
Number of pages: 16 Posted: 22 Apr 2012
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 71 (403,517)

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52.

Reforming the International Monetary System in the 1970s and 2000s: Would an SDR Substitution Account Have Worked?

BIS Working Paper No. 444
Number of pages: 38 Posted: 29 Apr 2014
Robert N. McCauley, Robert N. McCauley and Catherine R. Schenk
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and University of Glasgow - Economic and Social History
Downloads 70 (406,611)
Citation 1

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Special Drawing Right, substitution account, reserve currency, financial cycle, foreign exchange reserves, International Monetary Fund

53.

Renminbising China’s Foreign Assets

HKIMR Working Paper No.16/2010
Number of pages: 22 Posted: 30 Jun 2010
Yin-Wong Cheung, Guonan Ma, Robert N. McCauley and Robert N. McCauley
University of California, Santa Cruz - Department of Economics, Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 68 (412,913)
Citation 9

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Renminbi Internationalisation, Net International Asset Position, Convertibility, Exchange Rate Uncertainty, Dollar Peg

54.

The 2011 FDIC Assessment on Banks Managed Liabilities: Interest Rate and Balance-Sheet Responses

BIS Working Paper No. 413
Number of pages: 32 Posted: 20 Jun 2013
Lawrence Kreicher, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
Dartmouth College, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 63 (429,623)
Citation 2

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deposit insurance, reserve balances, money markets, federal funds, repo, eurodollars, wholesale funding, flow of funds, large-scale asset purchases, Dodd-Frank

55.

The Currency Composition of Foreign Exchange Reserves

BIS Working Paper No. 828
Number of pages: 38 Posted: 18 Dec 2019
Hiro Ito, Robert N. McCauley and Robert N. McCauley
Portland State University - Department of Economics and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 62 (433,094)

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foreign exchange reserves, international currency; key currency; currency zones; invoicing of trade, currency of international debt, foreign exchange reserve management

56.

The Fed in the Corporate Bond Market in 2020

GEGI WORKING PAPER 041 • 08/2020
Number of pages: 27 Posted: 05 Oct 2020
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 61 (436,593)
Citation 1

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Central Bank Credit, Federal Reserve, Corporate Bonds, Mutual Funds, Bond Yields

57.

A Key Currency View of Global Imbalances

BIS Working Paper No. 762
Number of pages: 32 Posted: 13 Feb 2019
Hiro Ito, Robert N. McCauley and Robert N. McCauley
Portland State University - Department of Economics and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 59 (443,749)
Citation 2

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global imbalances, current accounts, currency zones, international investment positions

58.

Safe Assets: Made, Not Just Born

BIS Working Paper No. 769
Number of pages: 22 Posted: 27 Feb 2019
Robert N. McCauley and Robert N. McCauley
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 58 (447,381)
Citation 5

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safe assets; US Treasury securities; agency securities; bank deposits; Eurodollars; Triffin dilemma

59.

Benchmark Tipping in the Global Bond Market

BIS Working Paper No. 466
Number of pages: 34 Posted: 07 Oct 2014
Lawrence Kreicher, Robert N. McCauley, Robert N. McCauley and Philip D. Wooldridge
Dartmouth College, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 56 (454,752)

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Benchmark, safe assets, government bond futures, interest rate swaps, US Treasury bonds, German bunds, Japanese government bonds, UK gilts

60.

Is China or India More Financially Open?

BIS Working Paper No. 410
Number of pages: 35 Posted: 16 May 2013
Guonan Ma, Robert N. McCauley and Robert N. McCauley
Bruegel and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 55 (458,485)
Citation 1

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capital account openness, financial integration, law of one price, foreign exchange market, currency internationalisation, Chinn-Ito, Lane-Milesi-Ferretti

61.

Distinguishing Global Dollar Reserves from Official Holdings in the United States

BIS Quarterly Review, September 2005
Number of pages: 16 Posted: 25 May 2012 Last Revised: 29 Sep 2013
Bank for International Settlements, Robert N. McCauley and Robert N. McCauley
Bank for International Settlements (BIS) and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 52 (470,035)

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62.

Geographic Spread of Currency Trading: The Renminbi and Other EM Currencies

BIS Working Paper No. 806
Number of pages: 18 Posted: 09 Sep 2019
Yin-Wong Cheung, Robert N. McCauley, Robert N. McCauley and Chang Shu
University of California, Santa Cruz - Department of Economics, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Chief Asia Economist, Bloomberg
Downloads 39 (527,349)
Citation 3

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international currency, FX turnover, renminbi internationalisation, international financial centre

63.

Diversifying with Asian Local Currency Bonds

BIS Quarterly Review, September 2004
Number of pages: 16 Posted: 11 May 2012 Last Revised: 29 Sep 2013
Bank for International Settlements, Robert N. McCauley, Robert N. McCauley and Guorong Jiang
Bank for International Settlements (BIS), University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 29 (580,962)
Citation 1

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64.

A Disaster Under-(Re)Insurance Puzzle: Home Bias in Disaster Risk-Bearing

BIS Working Paper No. 808
Number of pages: 46 Posted: 09 Sep 2019
Hiro Ito, Robert N. McCauley and Robert N. McCauley
Portland State University - Department of Economics and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
Downloads 26 (599,686)
Citation 1

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international risk-sharing, earthquake insurance, reinsurance

65.

Do Central Banks Rebalance Their Currency Shares?

NBER Working Paper No. w29190
Number of pages: 39 Posted: 30 Aug 2021 Last Revised: 07 Oct 2021
Menzie David Chinn, Hiro Ito, Robert N. McCauley and Robert N. McCauley
University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics, Portland State University - Department of Economics and University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center
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66.

The Roles of Saving, Investment and the Renminbi in Rebalancing the Chinese Economy

Review of International Economics, Vol. 21, Issue 1, pp. 72-84, 2013
Number of pages: 13 Posted: 24 Jan 2013
Guonan Ma, Robert N. McCauley, Robert N. McCauley and Lillie Lam
Bruegel, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and affiliation not provided to SSRN
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67.

Geographic Spread of Currency Trading: The Renminbi and Other Emerging Market Currencies

China & World Economy, Vol. 27, Issue 5, pp. 25-36, 2019
Number of pages: 12 Posted: 07 May 2020
Yin-Wong Cheung, Robert N. McCauley, Robert N. McCauley and Chang Shu
University of California, Santa Cruz - Department of Economics, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Chief Asia Economist, Bloomberg
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Citation 4
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foreign exchange turnover, international currency, international financial center, renminbi internationalization

68.

Transforming Central Bank Liabilities into Government Debt: The Case of China

China & World Economy, Vol. 23, Issue 4, pp. 1-18, 2015
Number of pages: 18 Posted: 23 Jul 2015
Robert N. McCauley, Robert N. McCauley and Guonan Ma
University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bruegel
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debt management, foreign exchange reserves, government bond market, renminbi internationalization

69.

After the Global Financial Crisis: From International to Multinational Banking?

Journal of Economics and Business, Vol. 64, No. 1, February 2012
Posted: 26 May 2013
Goetz von Peter, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
Bank for International Settlements - Research and Policy Analysis, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)

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Multinational banking, Global banks, Local operations, Regulatory reform, Basel III, Liquidity regulation