Hutchison, Michael M.

Overview

Works:	121 works in 278 publications in 6 languages and 4,480 library holdings
Roles:	Redactor, Honoree, Editor
Classifications:	hg1275, 332.4952

Publication Timeline

1970 |

|2020

Key

Publications about Michael M Hutchison

Publications by Michael M Hutchison

Most widely held works by Michael M Hutchison

The political economy of Japanese monetary policy by Thomas F Cargill ( Book )
13 editions published between 1997 and 2002 in English and Japanese and held by 1,144 libraries worldwide
In The Political Economy of Japanese Monetary Policy, Cargill, Hutchison, and Ito investigate the formulation and execution of monetary and financial policies in Japan within a broad technical, political, and institutional context. Their emphasis is on the period since the early 1970s, when the Bretton Woods system of fixed exchange rates collapsed, and on how policies and institutions have shaped the modern Japanese economy. In addition to presenting basic themes, recent developments, and their own research findings, they review and integrate the large literature, considering theoretical arguments and empirical evidence.

Japan's great stagnation financial and monetary policy lessons for advanced economies ( Book )
10 editions published in 2006 in English and held by 630 libraries worldwide
Experts on the Japanese economy examine Japan's prolonged period of economic underperformance, analyzing the ways in which the financial system, monetary policy, and international financial factors contributed to its onset and duration.

Financial policy and central banking in Japan by Thomas F Cargill ( Book )
6 editions published between 2000 and 2001 in English and held by 443 libraries worldwide

Japanese financial policies and the U.S. trade deficit by Stephen E Haynes ( Book )
3 editions published in 1986 in English and held by 418 libraries worldwide

Exchange rate policy and interdependence : perspectives from the Pacific basin ( Book )
4 editions published in 1994 in English and held by 286 libraries worldwide

Fiscal aspects of European monetary integration ( Book )
4 editions published between 1999 and 2010 in English and held by 260 libraries worldwide

Budget policy and the decline of national saving revisited by Michael M Hutchison ( Book )
7 editions published in 1992 in English and held by 94 libraries worldwide

Aggregate demand, uncertainty, and oil prices : the 1990 oil stock in comparative perspective by Michael M Hutchison ( Book )
3 editions published in 1991 in English and held by 80 libraries worldwide

A cure worse than the disease? : currency crises and the output costs of IMF-supported stabilization programs by Michael M Hutchison ( Book )
10 editions published in 2001 in English and No Linguistic content and held by 77 libraries worldwide

Are all banking crises alike? : the Japanese experience in international comparison by Michael M Hutchison ( Book )
10 editions published in 1999 in English and held by 72 libraries worldwide

Effectiveness of official daily foreign exchange market intervention operations in Japan by Rasmus Fatum ( Book )
6 editions published in 2003 in English and No Linguistic content and held by 68 libraries worldwide

Controlling capital? legal restrictions and the asset composition of international financial flows by Mahir Binici ( Book )
6 editions published in 2009 in English and held by 44 libraries worldwide

Central bank institutional design and the output cost of disinflation : did the 1989 New Zealand Reserve Bank Act affect the inflation-output tradeoff by Michael M Hutchison ( Book )
10 editions published in 1996 in English and held by 30 libraries worldwide

Predicting banking crises : Japan's financial crises in international comparison by Michael M Hutchison ( Book )
1 edition published in 1999 in English and held by 26 libraries worldwide

Inflation targeting and real exchange rates in emerging markets by Joshua Aizenman ( Book )
3 editions published in 2008 in English and held by 22 libraries worldwide
We examine the inflation targeting (IT) experiences of emerging market economies, focusing especially on the roles of the real exchange rate and the distinction between commodity and non-commodity exporting nations. In the context of a simple empirical model, estimated with panel data for 17 emerging markets using both IT and non-IT observations, we find a significant and stable response running from inflation to policy interest rates in emerging markets that are following publically announced IT policies. By contrast, central banks respond much less to inflation in non-IT regimes. IT emerging markets follow a mixed IT strategy whereby both inflation and real exchange rates are important determinants of policy interest rates. The response to real exchange rates is much stronger in non-IT countries, however, suggesting that policymakers are more constrained in the IT regime--they are attempting to simultaneously target both inflation and real exchange rates and these objectives are not always consistent. We also find that the response to real exchange rates is strongest in those countries following IT policies that are relatively intensive in exporting basic commodities. We present a simple model that explains this empirical result.

Exchange market pressure and absorption by international reserves emerging markets and fear of reserve loss during the 2008-09 crisis by Joshua Aizenman ( Book )
4 editions published in 2010 in English and held by 18 libraries worldwide
This paper evaluates how the global financial crisis emanating from the U.S. was transmitted to emerging markets. Our focus is on the extent that the crisis caused external market pressures (EMP), and whether the absorption of the shock was mainly through exchange rate depreciation or the loss of international reserves. Controlling for variety of factors associated with EMP, we find clear evidence that emerging markets with higher total foreign liabilities, including short- and long-term debt, equities, FDI and derivative products--had greater exposure and were much more vulnerable to the financial crisis. Countries with large balance sheet exposure -- high external portfolio liabilities exceeding international reserves--absorbed the global shock by allowing greater exchange rate depreciation and comparatively less reserve loss. Despite the remarkable buildup of international reserves by emerging markets during the period prior to the financial crisis, countries relied primarily on exchange rate depreciation rather than reserve loss to absorb most of the exchange market pressure shock. This could reflect a deliberate choice ("fear of reserve loss" or competitive depreciations) or market actions that caused very rapid exchange rate adjustment, especially in emerging markets with open capital markets, overwhelming policy actions.

East Asian captial flow and world financial stability will there be a free-fall of the U.S. dollar by Michael M Hutchison ( Book )
1 edition published in 2005 in English and held by 17 libraries worldwide

Transmission of the U.S. subprime crisis to emerging markets evidence on the decoupling-recoupling hypothesis by Michael P Dooley ( Book )
2 editions published in 2009 in English and held by 17 libraries worldwide
We find that emerging markets appeared to be somewhat insulated from developments in U.S. financial markets from early 2007 to summer 2008. From that point on, however, emerging markets responded very strongly to the deteriorating situation in the U.S. financial system and real economy. Policy measures taken in emerging markets to insulate themselves from global financial developments proved inadequate in the face of the credit crunch and decline in international trade that followed the Lehman bankruptcy in September 2008.

Exchange rates, non-traded goods and the terms-of-trade : an empirical application for New Zealand by Eric Hansen ( Book )
7 editions published between 1995 and 1997 in English and held by 15 libraries worldwide

Central bank secrecy and money surprises : international evidence by Michael M Hutchison ( Book )
4 editions published between 1989 and 1991 in English and held by 13 libraries worldwide