Masahiro Kawai - Profile on Academia.edu (original) (raw)

Papers by Masahiro Kawai

Regionalismo financiero: los acuerdos regionales están transformando la arquitectura financiera internacional y contribuyendo a la estabilidad financiera mundial

Finanzas Y Desarrollo Publicacion Trimestral Del Fondo Monetario Internacional Y Del Banco Mundial, 2012

International Monetary Regime in the Twenty-First Century, The (NBER-CEPR-TCER conference)

Nber Books, 1998

Eiji Yamamoto, The Change in Key Currencies and the Dollar

Economic Review, 1990

Japanese Investment in Foreign Securities in the 1980's

Le Japon, pays créditeur : causes et implications

Revue d'économie financière, 1993

Kawaï Masahiro. Le Japon, pays créditeur : causes et implications. In: Revue d'économie finan... more Kawaï Masahiro. Le Japon, pays créditeur : causes et implications. In: Revue d'économie financière, n°24, 1993. Les marchés dérivés : L’intermédiation bancaire au Japon , sous la direction de François Henrot et Catherine Lubochinsky. pp. 239-275

Spot and Futures Prices of Nonsotrable Commodities under Rational Expectations

Spot and Futures Prices of Nonstorable Commodities Under Rational Expectations*

The Quarterly Journal of Economics, 1983

The paper examines the effect of the presence of a commodity futures market upon the price format... more The paper examines the effect of the presence of a commodity futures market upon the price formation process in a stochastic rational expectations framework. An opti-mizing model with price uncertainty and risk aversion is used in order to solve equi-librium distributions of ...

The role of nominal anchor currencies in exchange arrangements

Price Volatility of Storable Commodities under Rational Expectations in Spot and Futures Markets

International Economic Review, 1983

... The assumption that the slopes of the demand and/or supply equations are also stochastic migh... more ... The assumption that the slopes of the demand and/or supply equations are also stochastic might be desirable in certain models (see Turnovsky [1976]), but this assumption makes it mathemati-cally impossible to solve for the rational expectations equilibrium prices in our model ...

Fiscal Policy, Anticipated Switches in Methods of Finance, and the Effects on the Economy

International Economic Review, 1990

Page 1. INTERNATIONAL ECONOMIC REVIEW Vol. 31, No. 4, November 1990 FISCAL POLICY, ANTICIPATED SW... more Page 1. INTERNATIONAL ECONOMIC REVIEW Vol. 31, No. 4, November 1990 FISCAL POLICY, ANTICIPATED SWITCHES IN METHODS OF FINANCE, AND THE EFFECTS ON THE ECONOMY BY MASAHIRO KAWAI AND Louis J. MACCINI1 ...

Capital Inflows and Regional Policy Cooperation

Asian Development Review, 2012

Regional Economic and Financial Integration in Asia: Challenges from the Global and Financial Crisis

The Changing Landscape of Global Financial Governance and the Role of Soft Law

행사명 : Strengthening Economic Cooperation in ASI

Trade Invoicing in the Japanese Yen and the Deutsche Mark in the 1980s and 90s: Lessons for Renminbi Internationalization

Toward a New Regional Financial Architecture in East Asia

Journal of Southeast Asian Economies (JSEAE), 2016

Asiaâ€™s Role in the Global Economic Architecture

Time Preference, International Capital Mobility and Optimum Asset Accumulation

Asian Development Review, Vol. 32(1) (March 2015)

Reform of the International Monetary System: Introduction and Overview

Reform of the International Monetary System, 2014

This chapter provides an overview of the issues related to reform of the international monetary s... more This chapter provides an overview of the issues related to reform of the international monetary system in light of experiences during the global financial crisis of 2007–2009 and related developments, particularly the eurozone sovereign debt and banking crisis, with a focus on the implications for Asian economies. Contributions by various international experts are presented focusing on topics covering policy reforms on how to develop balanced policy frameworks that support currency stability, monetary policy independence, and an increasing degree of financial openness, and how to build robust, resilient financial systems that can serve the interests of the real sector in a stable manner and absorb shocks coming from volatile capital flows and global financial turmoil. The thematic topic areas covered include (i) international monetary system reforms, (ii) managing international capital flows, (iii) Asian currency arrangements, (iv) regional financial cooperation, and (v) linking regional and global initiatives.

Optimum Currency Areas

The World of Economics, 1991

An optimum currency area refers to the ‘optimum’ geographical domain having as a general means of... more An optimum currency area refers to the ‘optimum’ geographical domain having as a general means of payments either a single common currency or several currencies whose exchange values are immutably pegged to one another with unlimited convertibility for both current and capital transactions, but whose exchange rates fluctuate in unison against the rest of the world. ‘Optimum’ is defined in terms of the macroeconomic goal of maintaining internal and external balance. Internal balance is achieved at the optimal trade-off point between inflation and unemployment (if such a trade-off really exists), and external balance involves both intra-area and inter-area balance of payments equilibrium.