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Details about Robert Neil Mccauley

E-mail:
Phone:41-61-280-8080
Postal address:Centralbahnplatz 2 4002 Basel Switzerland
Workplace:Bank for International Settlements (BIS), (more information at EDIRC)

Access statistics for papers by Robert Neil Mccauley.

Last updated 2018-09-05. Update your information in the RePEc Author Service.

Short-id: pmc17


Jump to Journal Articles Books Edited books Chapters

Working Papers

2018

  1. Recent RMB policy and currency co-movements
    BIS Working Papers, Bank for International Settlements Downloads
  2. Triffin: dilemma or myth?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    Also in BIS Working Papers, Bank for International Settlements (2017) Downloads

2017

  1. Financial deglobalisation in banking?
    BIS Working Papers, Bank for International Settlements Downloads View citations (1)
    Also in Economic Papers, Trinity College Dublin, Economics Department (2017) Downloads View citations (1)

2016

  1. Asset managers, eurodollars and unconventional monetary policy
    BIS Working Papers, Bank for International Settlements Downloads View citations (2)
  2. The failure of covered interest parity: FX hedging demand and costly balance sheets
    BIS Working Papers, Bank for International Settlements Downloads View citations (5)

2015

  1. Breaking free of the triple coincidence in international finance
    BIS Working Papers, Bank for International Settlements Downloads View citations (20)
    See also Journal Article in Economic Policy (2016)
  2. Currency intervention and the global portfolio balance effect: Japanese lessons
    CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo Downloads
    Also in Papers, Economic and Social Research Institute (ESRI) (2012) Downloads View citations (3)
    BIS Working Papers, Bank for International Settlements (2012) Downloads View citations (1)

    See also Journal Article in Journal of the Japanese and International Economies (2016)
  3. Global dollar credit: links to US monetary policy and leverage
    BIS Working Papers, Bank for International Settlements Downloads View citations (64)
    See also Journal Article in Economic Policy (2015)

2014

  1. Benchmark tipping in the global bond market
    BIS Working Papers, Bank for International Settlements Downloads View citations (4)
  2. Financial openness of China and India: Implications for capital account liberalisation
    Working Papers, Bruegel Downloads View citations (2)
  3. Reforming the international monetary system in the 1970s and 2000s: would an SDR substitution account have worked?
    BIS Working Papers, Bank for International Settlements Downloads View citations (3)

2013

  1. Global and euro imbalances: China and Germany
    BIS Working Papers, Bank for International Settlements Downloads View citations (7)
    See also Chapter (2013)
  2. Is China or India more financially open?
    BIS Working Papers, Bank for International Settlements Downloads View citations (9)
    See also Journal Article in Journal of International Money and Finance (2013)
  3. Risk-On/Risk-Off, Capital Flows, Leverage, and Safe Assets
    Finance Working Papers, East Asian Bureau of Economic Research Downloads
    Also in Macroeconomics Working Papers, East Asian Bureau of Economic Research (2013) Downloads
    BIS Working Papers, Bank for International Settlements (2012) Downloads View citations (12)
    ADBI Working Papers, Asian Development Bank Institute (2013) Downloads

    See also Journal Article in Journal of Financial Perspectives (2013)
  4. The 2011 FDIC assessment on banks managed liabilities: interest rate and balance-sheet responses
    BIS Working Papers, Bank for International Settlements Downloads View citations (3)
  5. Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit
    Working Papers, Hong Kong Institute for Monetary Research Downloads View citations (22)
    Also in BIS Working Papers, Bank for International Settlements (2013) Downloads View citations (20)

2012

  1. Interpreting TARGET2 balances
    BIS Working Papers, Bank for International Settlements Downloads View citations (13)
  2. Rapid credit growth and international credit: Challenges for Asia
    BIS Working Papers, Bank for International Settlements Downloads View citations (39)

2011

  1. Currency intervention and the global portfolio balance effect: Japanese and Swiss lessons, 2003-2004 and 2009-2010
    CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo Downloads View citations (1)
    Also in CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo (2011) Downloads View citations (2)

2010

  1. Offshore Markets for the Domestic Currency: Monetary and Financial Stability Issues
    Working Papers, Hong Kong Monetary Authority Downloads View citations (17)
    Also in BIS Working Papers, Bank for International Settlements (2010) Downloads View citations (9)
  2. Renminbising China's Foreign Assets
    CESifo Working Paper Series, CESifo Group Munich Downloads View citations (13)
    Also in Working Papers, Hong Kong Institute for Monetary Research (2010) Downloads View citations (3)

    See also Journal Article in Pacific Economic Review (2011)
  3. The evolving renminbi regime and implications for Asian currency stability
    BIS Working Papers, Bank for International Settlements Downloads View citations (9)
    See also Journal Article in Journal of the Japanese and International Economies (2011)

2007

  1. Do China's capital controls still bind? Implications for monetary autonomy and capital liberalisation
    BIS Working Papers, Bank for International Settlements Downloads View citations (23)

2006

  1. Estimation of Asian effective exchange rates: a technical note
    BIS Working Papers, Bank for International Settlements Downloads View citations (2)

2004

  1. Living with flexible exchange rates
    International Finance, University Library of Munich, Germany Downloads View citations (42)

2003

  1. Living with flexible exchange rates: issues and recent experience in inflation targeting emerging market economies
    BIS Working Papers, Bank for International Settlements Downloads View citations (65)

1999

  1. The Anatomy of the Bond Market Turbulence of 1994
    Macroeconomics, University Library of Munich, Germany Downloads View citations (1)
    Also in BIS Working Papers, Bank for International Settlements (1995) Downloads View citations (2)
    Economics Working Paper Archive, Levy Economics Institute (1996) Downloads View citations (1)

1997

  1. The Euro and European financial markets
    BIS Working Papers, Bank for International Settlements Downloads View citations (57)
  2. The Euro and the Dollar
    Princeton Essays in International Economics, International Economics Section, Departement of Economics Princeton University, View citations (24)
    Also in BIS Working Papers, Bank for International Settlements (1997) Downloads View citations (19)

1990

  1. Policies toward corporate leveraging
    Research Paper, Federal Reserve Bank of New York
    See also Book (1990)
  2. The British invasion: explaining the strength of U.K. acquisitions of U. S. firms in the late 1980s
    Research Paper, Federal Reserve Bank of New York
  3. The cost of capital for banks in international competition
    Proceedings, Federal Reserve Bank of Chicago

1989

  1. Explaining international differences in the cost of capital: the United States and United Kingdom versus Japan and Germany
    Research Paper, Federal Reserve Bank of New York View citations (1)

1988

  1. Price discrimination in Hotelling's duopoly model: equilibrium and efficiency
    Research Paper, Federal Reserve Bank of New York

Journal Articles

2017

  1. A Global Shortage of Safe Assets: A New Triffin Dilemma?
    Atlantic Economic Journal, 2017, 45, (4), 443-451 Downloads View citations (1)
  2. FX swaps and forwards: missing global debt?
    BIS Quarterly Review, 2017 Downloads View citations (1)
  3. The bond benchmark continues to tip to swaps
    BIS Quarterly Review, 2017 Downloads

2016

  1. Breaking free of the triple coincidence in international finance
    Economic Policy, 2016, 31, (87), 409-451 Downloads View citations (21)
    See also Working Paper (2015)
  2. Covered interest parity lost: understanding the cross-currency basis
    BIS Quarterly Review, 2016 Downloads View citations (27)
  3. Currency intervention and the global portfolio balance effect: Japanese lessons
    Journal of the Japanese and International Economies, 2016, 39, (C), 1-16 Downloads View citations (3)
    See also Working Paper (2015)
  4. Non-deliverable forwards: impact of currency internationalisation and derivatives reform
    BIS Quarterly Review, 2016 Downloads View citations (4)
  5. The Current Account Version of the Triffin Dilemma
    Atlantic Economic Journal, 2016, 44, (2), 171-182 Downloads View citations (1)

2015

  1. Currency composition of reserves, trade invoicing and currency movements
    Emerging Markets Review, 2015, 25, (C), 16-29 Downloads View citations (3)
  2. Does the US dollar confer an exorbitant privilege?
    Journal of International Money and Finance, 2015, 57, (C), 1-14 Downloads View citations (4)
  3. Dollar credit to emerging market economies
    BIS Quarterly Review, 2015 Downloads View citations (15)
  4. Global dollar credit: links to US monetary policy and leverage
    Economic Policy, 2015, 30, (82), 187-229 Downloads View citations (63)
    See also Working Paper (2015)
  5. Reforming the International Monetary System in the 1970s and 2000s: Would a Special Drawing Right Substitution Account Have Worked?
    International Finance, 2015, 18, (2), 187-206 Downloads View citations (2)
  6. Transforming Central Bank Liabilities into Government Debt: The Case of China
    China & World Economy, 2015, 23, (4), 1-18 Downloads View citations (3)

2014

  1. Currency movements drive reserve composition
    BIS Quarterly Review, 2014 Downloads View citations (5)
  2. De-internationalizing Global Banking&quest
    Comparative Economic Studies, 2014, 56, (2), 257-270 Downloads
  3. Non-US banks' claims on the Federal Reserve
    BIS Quarterly Review, 2014 Downloads View citations (7)
  4. Non-deliverable forwards: 2013 and beyond
    BIS Quarterly Review, 2014 Downloads View citations (14)

2013

  1. Is China or India more financially open?
    Journal of International Money and Finance, 2013, 39, (C), 6-27 Downloads View citations (9)
    See also Working Paper (2013)
  2. Renminbi internationalisation and China’s financial development
    Journal of Chinese Economic and Business Studies, 2013, 11, (2), 101-115 Downloads View citations (3)
    Also in BIS Quarterly Review, 2011 (2011) Downloads View citations (14)
  3. Risk-On/Risk-Off, Capital Flows, Leverage and Safe Assets
    Journal of Financial Perspectives, 2013, 1, (2), 145-154
    Also in Public Policy Review, 2012, 8, (3), 281-298 (2012) Downloads View citations (12)

    See also Working Paper (2013)
  4. The Roles of Saving, Investment and the Renminbi in Rebalancing the Chinese Economy
    Review of International Economics, 2013, 21, (1), 72-84 Downloads View citations (8)

2012

  1. After the global financial crisis: From international to multinational banking?
    Journal of Economics and Business, 2012, 64, (1), 7-23 Downloads View citations (22)
  2. Eurodollar banking and currency internationalisation
    BIS Quarterly Review, 2012 Downloads View citations (13)

2011

  1. Foreign exchange trading in emerging currencies: more financial, more offshore
    BIS Quarterly Review, 2011 Downloads View citations (16)
  2. Global credit and domestic credit booms
    BIS Quarterly Review, 2011 Downloads View citations (59)
  3. La gestion du renminbi depuis 2005
    Revue d'économie financière, 2011, N° 102, (2), 163-182 Downloads
    Also in Revue d'Économie Financière, 2011, 102, (2), 163-181 (2011) Downloads
  4. RENMINBISING CHINA'S FOREIGN ASSETS
    Pacific Economic Review, 2011, 16, (1), 1-17 Downloads View citations (12)
    See also Working Paper (2010)
  5. The evolving renminbi regime and implications for Asian currency stability
    Journal of the Japanese and International Economies, 2011, 25, (1), 23-38 Downloads View citations (28)
    See also Working Paper (2010)

2010

  1. The architecture of global banking: from international to multinational?
    BIS Quarterly Review, 2010 Downloads View citations (44)

2009

  1. Dollar appreciation in 2008: safe haven, carry trades, dollar shortage and overhedging
    BIS Quarterly Review, 2009 Downloads View citations (60)
  2. Government debt management at low interest rates
    BIS Quarterly Review, 2009 Downloads View citations (13)
  3. Renminbisation des actifs internationaux de la Chine
    Revue d'Économie Financière, 2009, 95, (2), 135-155 Downloads View citations (4)
  4. US dollar money market funds and non-US banks
    BIS Quarterly Review, 2009 Downloads View citations (73)

2008

  1. Asian banks and the international interbank market
    BIS Quarterly Review, 2008 Downloads View citations (14)
  2. EFFICACY OF CHINA'S CAPITAL CONTROLS: EVIDENCE FROM PRICE AND FLOW DATA
    Pacific Economic Review, 2008, 13, (1), 104-123 Downloads View citations (54)

2007

  1. Comment on "Regional and Global Responses to the Asian Crisis"
    Asian Economic Policy Review, 2007, 2, (1), 71-72 Downloads
  2. Exchange rates and global volatility: implications for Asia-Pacific currencies
    BIS Quarterly Review, 2007 Downloads View citations (26)

2006

  1. Basket weaving: the euromarket experience with basket currency bonds
    BIS Quarterly Review, 2006 Downloads View citations (10)
  2. Internationalising a currency: the case of the Australian dollar
    BIS Quarterly Review, 2006 Downloads View citations (11)

2005

  1. Distinguishing global dollar reserves from official holdings in the United States
    BIS Quarterly Review, 2005 Downloads View citations (11)
  2. Trading Asian currencies
    BIS Quarterly Review, 2005 Downloads View citations (25)

2004

  1. Asian local currency bond markets
    BIS Quarterly Review, 2004 Downloads View citations (24)
  2. Diversifying with Asian local currency bonds
    BIS Quarterly Review, 2004 Downloads View citations (27)
  3. Maîtriser la croissance en Chine dans un contexte de mobilité internationale des capitaux
    Revue d'Économie Financière, 2004, 77, (4), 163-185 Downloads
  4. The markets for non-deliverable forwards in Asian currencies
    BIS Quarterly Review, 2004 Downloads View citations (64)

2003

  1. Capital flows in East Asia since the 1997 crisis
    BIS Quarterly Review, 2003 Downloads View citations (1)
  2. Choosing instruments in managing dollar foreign exchange reserves
    BIS Quarterly Review, 2003 Downloads View citations (2)
  3. Unifying government bond markets in East Asia
    BIS Quarterly Review, 2003 Downloads View citations (13)

2002

  1. Globalising international banking
    BIS Quarterly Review, 2002 Downloads View citations (7)
  2. Integrating the finances of East Asia
    BIS Quarterly Review, 2002 Downloads View citations (2)
  3. International market implications of declining Treasury debt, panel discussion
    Proceedings, 2002, 952-966 View citations (3)
  4. Panel: Implications of Declining Treasury Debt: International Market Implications of Declining Treasury Debt
    Journal of Money, Credit and Banking, 2002, 34, (3), 952-66 View citations (2)
  5. Rising foreign currency liquidity of banks in China
    BIS Quarterly Review, 2002 Downloads View citations (5)

2001

  1. Analysing the growth of Taiwanese deposits in foreign currency
    BIS Quarterly Review, 2001 Downloads View citations (3)
  2. Benchmark tipping in the money and bond markets
    BIS Quarterly Review, 2001 Downloads View citations (4)
  3. Dodging Bullets: Changing U.S. Corporate Capital Structure in the 1980s and 1990s. By Robert N. McCauley, Judith S. Ruud, and Frank Iacono. Cambridge, MA: MIT Press, 1999. Pp. xii, 415. $34.95
    The Journal of Economic History, 2001, 61, (04), 1158-1160 Downloads

2000

  1. Foreign currency deposits of firms and individuals with banks in China
    BIS Quarterly Review, 2000 Downloads View citations (4)
  2. Size and liquidity of government bond markets
    BIS Quarterly Review, 2000 Downloads View citations (4)

1999

  1. The Euro and the Dollar, 1998
    Open Economies Review, 1999, 10, (1), 91-133 Downloads View citations (1)

1994

  1. How lower Japanese asset prices affect Pacific financial markets
    Quarterly Review, 1994, (Spr), 19-33 Downloads View citations (16)

1992

  1. Corporate refinancing in the 1990s
    Quarterly Review, 1992, (Win), 1-27 Downloads
  2. Foreign bank credit to U.S. corporations: the implications of offshore loans
    Quarterly Review, 1992, (Spr), 52-65 Downloads View citations (35)

1991

  1. The cost of capital for securities firms in the United States and Japan
    Quarterly Review, 1991, (Aut), 14-27 Downloads View citations (1)

1990

  1. Bank cost of capital and international competition
    Quarterly Review, 1990, (Win), 33-59 Downloads View citations (12)

1989

  1. Explaining international differences in the cost of capital
    Quarterly Review, 1989, (Sum), 7-28 Downloads View citations (21)

1987

  1. Eurocommercial paper and U.S. commercial paper: converging money markets?
    Quarterly Review, 1987, (Aut), 24-35 Downloads View citations (1)
  2. Financial consequences of new Asian surpluses
    Quarterly Review, 1987, (Sum), 32-44 Downloads View citations (3)

1986

  1. Are large U.S. banks moving international activity off their balance sheets?
    Quarterly Review, 1986, (Sum), 42-44 Downloads

Books

2013

  1. 50 Years of Money and Finance: Lessons and Challenges
    SUERF 50th Anniversary Volume - 50 Years of Money and Finance: Lessons and Challenges, SUERF - The European Money and Finance Forum Downloads View citations (7)

2012

  1. New Paradigms in Monetary Theory and Policy?
    SUERF Studies, SUERF - The European Money and Finance Forum Downloads View citations (3)

2002

  1. Setting Monetary Policy in East Asia: Goals, Developments and Institutions
    Occasional Papers, South East Asian Central Banks (SEACEN) Research and Training Centre Downloads View citations (8)
    See also Chapter (2001)

1990

  1. Policies toward corporate leveraging
    Monograph, Federal Reserve Bank of New York
    See also Working Paper (1990)

Edited books

2011

  1. Monetary Policy after the Crisis
    SUERF Studies, SUERF - The European Money and Finance Forum Downloads View citations (2)

Chapters

2013

  1. Global and Euro Imbalances: China and Germany
    SUERF - The European Money and Finance Forum Downloads View citations (7)
    See also Working Paper (2013)

2011

  1. Managing foreign exchange reserves in the crisis and after
    A chapter in Portfolio and risk management for central banks and sovereign wealth funds, 2011, vol. 58, pp 19-47 Downloads View citations (7)
  2. The euro and the yen as anchor currencies before and during the financial crisis - comments on Moss's paper "The euro: internationalised at birth" and Takagi's paper "Internationalising the yen, 1984-2003: unfinished agenda or mission impossible?"
    A chapter in Currency internationalisation: lessons from the global financial crisis and prospects for the future in Asia and the Pacific, 2011, vol. 61, pp 93-104 Downloads

2010

  1. Managing Recent Hot Money Inflows in Asia
    Chapter 5 in Managing Capital Flows, 2010 Downloads View citations (2)

2009

  1. Hong Kong and Shanghai: Yesterday, Today and Tomorrow
    A chapter in Financial Sector Development in the Pacific Rim, East Asia Seminar on Economics, Volume 18, 2009, pp 13-37 Downloads View citations (2)
  2. Opening speech to "Household debt: implications for monetary policy and financial stability"
    A chapter in Household debt: implications for monetary policy and financial stability, 2009, vol. 46, pp 17-18 Downloads View citations (1)

2008

  1. Developing financial markets and operating monetary policy in Asia
    A chapter in Financial market developments and their implications for monetary policy, 2008, vol. 39, pp 126-141 Downloads View citations (5)

2006

  1. Consolidating the public debt markets of Asia
    A chapter in Asian bond markets: issues and prospects, 2006, vol. 30, pp 82-98 Downloads View citations (1)
  2. Developing the bond market(s) of East Asia: global, regional or national?
    A chapter in Asian bond markets: issues and prospects, 2006, vol. 30, pp 19-39 Downloads View citations (6)
  3. Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence
    A chapter in Monetary policy in Asia: approaches and implementation, 2006, vol. 31, pp 172-198 Downloads View citations (8)

2004

  1. Discussion of 'Inflation Targeting and Japan: Why has the Bank of Japan not Adopted Inflation Targeting?'
    A chapter in The Future of Inflation Targeting, 2004 Downloads

2003

  1. Discussion of 'Stock Market Volatility and Monetary Policy: What the Historical Record Shows'
    A chapter in Asset Prices and Monetary Policy, 2003 Downloads
  2. Introduction
    A chapter in China's capital account liberalisation: international perspective, 2003, vol. 15, pp 1-6 Downloads View citations (1)
  3. Liberalising the capital account without losing balance: lessons from Korea
    A chapter in China's capital account liberalisation: international perspective, 2003, vol. 15, pp 75-92 Downloads View citations (6)
  4. Opening China’s capital account amid ample dollar liquidity
    A chapter in China's capital account liberalisation: international perspective, 2003, vol. 15, pp 25-34 Downloads View citations (8)

2001

  1. Setting Monetary Policy in East Asia: Goals, Developments and Institutions
    A chapter in Future Directions for Monetary Policies in East Asia, 2001 Downloads View citations (5)
    See also Book (2002)

1999

  1. The Euro and the Liquidity of European Fixed Income Markets
    A chapter in Market Liquidity: Research Findings and Selected Policy Implications, 1999, vol. 11, pp 1-26 Downloads View citations (10)
 
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