The Macroeconomics of International Financial Trade

IIIS Discussion Paper No. 13

25 Pages Posted: 1 Jun 2005

See all articles by Philip R. Lane

Philip R. Lane

Trinity College (Dublin) - Department of Economics; Centre for Economic Policy Research (CEPR); Central Bank of Ireland

Date Written: November 2003

Abstract

A driving factor in any open-economy macroeconomics model is the degree of international financial integration. This suggests that understanding the sources of the recent explosive growth in cross-border asset trade and the impact of the upscaling in gross and net international investment positions on key open-economy macroeconomic variables such as the trade balance and the real exchange rate is critically important for policy analysis. Accordingly, the goal of this paper is to highlight some of the main results emerging from this fast-expanding research field.

Keywords: international financial integration, international macroeconomics integration, international asset trade

Suggested Citation

Lane, Philip R., The Macroeconomics of International Financial Trade (November 2003). IIIS Discussion Paper No. 13. Available at SSRN: https://ssrn.com/abstract=733443 or http://dx.doi.org/10.2139/ssrn.733443

Philip R. Lane (Contact Author)

Trinity College (Dublin) - Department of Economics ( email )

Trinity College
Dublin 2
Ireland
+353 1 608 2259 (Phone)
+353 1 677 2503 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Central Bank of Ireland ( email )

P.O. Box 559
Dame Street
Dublin, 2
Ireland

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