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The COVID-19 Symmetric Shock, and Its Asymmetric Consequences
The outbreak of the COVID-19 pandemic is opening a period of policy uncertainties upon all us. The upcoming massive recession presents critical economic and financial variables, a steep rise of jobless claims, fixed-asset investment falling by 45% year on year, capital outflows from emerging markets by $ 83 bl. Buffers and shock absorbers are weak in several emerging and developing countries, and preventing the worst-case scenario, a lengthy L shape recession, the size of the fiscal injection must be equivalent to the fall in the GDP. What can Caribbean countries do to mitigate the full impact of the pandemic tsunami? Jointly to Multilateral Development Banks, Caribbean governments should require core G20 Members to repurpose climate change investment plans, and, abide by their commitments. Lacking these actions, the COVID-19 shock would develop into a demand-driven slump, opening the door to a long stagnation.
Far-Reaching Consequences of U.S. Financial Sanctions. The Dollar Shortage and the “Triffin Moment”
Miriam L. Campanella discusses the US financial sanctions and the consequences of disconnection from the dollar capital markets in Robert Triffin International
The Changing Geography of Finance. Shifting Financial Flows and New Hubs: Shanghai and Paris?
A new publication by Miriam Campanella on the recovery of the global economy and cross-border capital flows
UMPs’ Spillovers, and the Periphery’s Spillbacks
SSRN has published Miriam L. Campanella paper on UM's spillovers and reverse spillbacks, which hint to new dynamics in monetary policies
The Internationalization of the Renminbi and the Rise of a Multipolar Currency System
Miriam Campanella’s paper on the internationalization of the Renminbi translated into Chinese in First Think Tank, 15 January 2015
Is the euro ready to play the global currency role?
A chapter written by Miriam L. Campanella in a book ‘The euro and the dollar in a globalized economy’, edited by Joaquín Roy and Pedro Gomis-Porqueras, 2007
Euro weakness and the ECB economic governance. A strategic institutionalist perspective
A chapter written by Miriam L. Campanella in a book ‘EU Economic Governance and Globalisation’, Edward Elgar Publishing, 2003
Between Rationality and Cognition: Policy-making under conditions of uncertainty, complexity, and turbulence’
Book editied by Mirial L. Campanella with contributions from Herbert Simon, Karl Deutch, and Yehezekel Dror, 1988 Meynier Geneva