Journal of International Money and Finance最新文献_第6页

Tokenization: a potential pathway for Bitcoin’s future 代币化：比特币未来的潜在途径

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2025-12-02 DOI: 10.1016/j.jimonfin.2025.103492

Georgii Zvonka

引用次数: 0

Sustainable regulation, stronger currencies: Evidence from capital flow dynamics 可持续监管，货币走强：来自资本流动动态的证据

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2026-01-17 DOI: 10.1016/j.jimonfin.2026.103531

Sining Liu , Wendi Huang

引用次数: 0

Assessing financial risk in China: a text-based indicator approach 中国金融风险评估：基于文本的指标方法

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2026-01-20 DOI: 10.1016/j.jimonfin.2025.103514

Alexander Al-Haschimi , Apostolos Apostolou , Andres Azqueta-Gavaldon , Martino Ricci

引用次数: 0

Stablecoins and short-term funding markets 稳定币和短期融资市场

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2025-11-07 DOI: 10.1016/j.jimonfin.2025.103469

Jean Barthélemy , Paul Gardin , Benoit Nguyen

引用次数: 0

Monetary-fiscal policy interactions in public debt consolidation: the role of fiscal rules and inflation targeting 公共债务整合中的货币-财政政策互动：财政规则和通胀目标制的作用

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2025-12-26 DOI: 10.1016/j.jimonfin.2025.103510

Yunhan Zhang , Zhixin Liu , Hao Jin

引用次数: 0

Risk retention in the European securitization market: Skimmed by the skin-in-the-game methods? 欧洲证券化市场的风险自留：被参与博弈的方法所忽略？

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2025-12-25 DOI: 10.1016/j.jimonfin.2025.103512

Vivian M. van Breemen , Claudia Schwarz , Dennis Vink , Frank J. Fabozzi

引用次数: 0

Global shocks, institutional development, and trade restrictions: What can we learn from crises and recoveries between 1990 and 2022? 全球冲击、制度发展和贸易限制：我们能从1990年至2022年的危机和复苏中学到什么？

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2025-12-04 DOI: 10.1016/j.jimonfin.2025.103504

Joshua Aizenman , Hiro Ito , Donghyun Park , Jamel Saadaoui , Gazi Salah Uddin

{"title":"Global shocks, institutional development, and trade restrictions: What can we learn from crises and recoveries between 1990 and 2022?","authors":"Joshua Aizenman , Hiro Ito , Donghyun Park , Jamel Saadaoui , Gazi Salah Uddin","doi":"10.1016/j.jimonfin.2025.103504","DOIUrl":"10.1016/j.jimonfin.2025.103504","url":null,"abstract":"<div><div>The Global Financial Crisis and the COVID-19 pandemic were two major shocks to the world economy in the 21st century. In this study, we analyze the patterns of recessions and recoveries of 101 advanced and developing economies. We identify the turning points of recessions and expansions between 1990 and 2022, and perform cross-country analysis of domestic and external drivers of economic recovery. In addition to the standard independent variables, we include institutional development, political stability, the extent of democracy, and trade restrictions indexes, and explore their roles in explaining recessions and recovery patterns. For the whole sample, we find that deeper recessions are followed by stronger recoveries, in line with Friedman’s plucking model of the business cycle. However, the empirical evidence for the plucking model becomes weaker if institutional development is limited and trade restrictions are high. We show that recessions that create conflict and trade tensions differ sharply from those that do not, a relevant finding in the current global climate of heightened trade tensions and geopolitical uncertainty. Finally, since developing countries tend to have weaker institutions and higher trade barriers, our evidence suggests that countercyclical monetary and fiscal policy will have to play a bigger role in cushioning global shocks in those countries. This, in turn, requires more robust and credible monetary and fiscal policy frameworks.</div></div>","PeriodicalId":48331,"journal":{"name":"Journal of International Money and Finance","volume":"161 ","pages":"Article 103504"},"PeriodicalIF":3.3,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145748022","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

In search of the origin of original sin dissipation 寻找原罪的起源消散

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2026-01-17 DOI: 10.1016/j.jimonfin.2026.103532

Bada Han , Taehee Oh , Jangyoun Lee

{"title":"In search of the origin of original sin dissipation","authors":"Bada Han , Taehee Oh , Jangyoun Lee","doi":"10.1016/j.jimonfin.2026.103532","DOIUrl":"10.1016/j.jimonfin.2026.103532","url":null,"abstract":"<div><div>In this paper, we examine how, contrary to the ‘original sin’ hypothesis, emerging market economies have gained the ability to borrow abroad in their local currency. We empirically analyze the relationship between various economic variables and local currency debt and identify three crucial conditions for the capacity to borrow in local currency: institutional quality, sufficient depth in the domestic bond market, and adequate performance in inflation targeting. While trade and financial openness, as well as shares in JPMorgan Government Bond Index-Emerging Markets (GBI-EM) Index also appear to be influential, their associations with local currency debt are less clear. We conduct a similar empirical analysis on portfolio equity, which represents a safer form of external liability than foreign currency debt, and verify that the depth of the equity market plays a key role in attracting foreign capital to domestic equity markets. Finally, we propose a simple portfolio model based on the inelastic market hypothesis to explain the positive correlation between capital market depth and the dissipation of original sin, which refers to the presence of more external liability in the form of equity or local currency debt. In essence, our analysis suggests that emerging market economies with reasonably strong fundamentals are not necessarily reliant on foreign currency debt.</div></div>","PeriodicalId":48331,"journal":{"name":"Journal of International Money and Finance","volume":"162 ","pages":"Article 103532"},"PeriodicalIF":3.3,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146039166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Public spending, private gains: the gendered impact of exogenous fiscal policy shocks 公共支出、私人收益：外生财政政策冲击的性别影响

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2026-01-16 DOI: 10.1016/j.jimonfin.2026.103527

João Jalles , John Beirne , Donghyun Park , Gazi Salah Uddin

{"title":"Public spending, private gains: the gendered impact of exogenous fiscal policy shocks","authors":"João Jalles , John Beirne , Donghyun Park , Gazi Salah Uddin","doi":"10.1016/j.jimonfin.2026.103527","DOIUrl":"10.1016/j.jimonfin.2026.103527","url":null,"abstract":"<div><div>This paper examines the gender-specific effects of exogenous public spending shocks across a global sample, using a novel identification strategy and local projections. We distinguish between investment and consumption shocks and further decompose spending by function—education, health, and social protection. Public investment shocks generally reduce female labor force participation but increase wage shares and lower maternal mortality. Consumption shocks also lower participation but raise service-sector employment and tertiary enrolment in the short term. Functionally, education spending delays labor force entry but improves wages and enrolment; health spending boosts agricultural employment but may initially increase maternal mortality; and social protection stabilizes rural employment while reducing overall participation. Nonlinear analyses reveal strong heterogeneity by income level, initial gender inequality, and labor informality. For example, investment boosts female employment in poorer EMDEs but reinforces participation gaps in richer ones. These results highlight the need for gender-responsive fiscal frameworks tailored to structural conditions, and show that fiscal design—not just scale—shapes inclusive development outcomes.</div></div>","PeriodicalId":48331,"journal":{"name":"Journal of International Money and Finance","volume":"162 ","pages":"Article 103527"},"PeriodicalIF":3.3,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146039167","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exchange rate regime flexibility and firms’ employment 汇率制度灵活性与企业就业

IF 3.3 2区经济学

Journal of International Money and Finance Pub Date : 2026-02-01 Epub Date: 2025-11-27 DOI: 10.1016/j.jimonfin.2025.103487

Silvio Contessi , Qingyuan Du , Deting Gao , Lei Pan , Shenxiang Xie

引用次数: 0