Taking Europe seriously: European financialization and US monetary power

References

• Acharya, V. V., & Schnabl, P. (2009). Do global banks spread global Imbalances? The case of asset-backed commercial paper during the financial crisis of 2007-09. NBER Working Paper 16079, June.
   Google Scholar
• Allen, W., & Moessner, R. (2010). Central bank co-operation and international liquidity in the financial crisis of 2008-9. BIS Working Paper no. 310, May.
   Google Scholar
• Andrews, D. M. (1994). Capital Mobility and State Autonomy: Toward a Structural Theory of International Monetary Relations. International Studies Quarterly, 38(2), 193–218. https://doi.org/10.2307/2600975
   Web of Science ®Google Scholar
• Andrews, D. M. (2006). Power, statecraft, and international monetary relations. In D. M. Andrews (Ed.), International Monetary Power. (pp. 7–28). Cornell University Press.
   Google Scholar
• Baba, N., McCauley, R. N., & Ramaswamy, S. (2009). US dollar money market funds and non-US banks. BIS Quarterly Review, 65–81.
   Google Scholar
• Baldwin, D. A., (2013). Power and International Relations. in W. Carlsnaes, T. Risse and B.A Simmons (eds.) Handbook of International Relations (2nd. ed., pp. 273–297). SAGE Publications.
   Google Scholar
• Bayoumi, T. (2017). Unfinished Business. Yale University Press.
   Google Scholar
• Bernanke, B. S. (2005). ‘The global savings glut and the US current account deficit.’ Speech delivered for the Sandridge Lecture at the Virginia Association of Economists, Richmond, March 10. www.federalreserve.gov/boarddocs/speeches/2005/200503102/default.htm.
   Google Scholar
• Bernanke, B. S., Bertaut, C., Pounder DeMarco, L., & Kamin, S. (2010). International capital flows and the return to safe assets in the United States, 2003-07. Board of Governors of the Federal Reserve System International Finance Discussion Papers, 1014. https://doi.org/10.17016/IFDP.2010.1014
   Google Scholar
• Bertaut, C., DeMarco, L. P.., Kamin, S., & Tryon, R. (2011). ABS Inflows to the United States and the global financial crisis. Board of Governors of the Federal Reserve System International Finance Discussion Papers Number 1028, August
   Google Scholar
• Borio, C., & Disyatat, P. (2011). Global imbalances and the financial crisis: Link or no link?. BIS Working Papers no. 346, May.
   Google Scholar
• Braun, B., Krampf, A., & Murau, S. (2020). Financial globalization as positive integration: Monetary technocrats and the Eurodollar market in the 1970s’. Review of International Political Economy, https://doi.org/10.1080/09692290.2020.1740291.
   Google Scholar
• Brender, A., & Pisani, F. (2009). Globalized finance and its collapse. https://www.dexia-am.com/NR/rdonlyres/DC3E445C-427E-4A69-ADC6-4B10374D6FE8/0/Globalisedfinance.pdf
   Google Scholar
• Broz, L. (2015). ‘The Federal Reserve as global lender of last resort, 2007-2010’. SRC Discussion Paper, No 30. Systemic Risk Centre, The London School of Economics and Political Science, London, UK.
   Google Scholar
• Caballero, R. J. (2010). The “other” imbalance and the financial crisis. NBER Working Paper 15636, January.
   Google Scholar
• Caballero, R. J., & Krishnamurthy, A. (2009). Global imbalances and financial fragility. American Economic Review, 99(2), 584–588. https://doi.org/10.1257/aer.99.2.584
   Web of Science ®Google Scholar
• Caballero, R. J., Farhi, E., & Gourinchas, P.-O. (2017). The safe assets shortage conundrum. Journal of Economic Perspectives, 31(3), 29–46. https://doi.org/10.1257/jep.31.3.29
   Web of Science ®Google Scholar
• Carrel, P. (2011). ECB says will “actively implement” bond-buying. Reuters, 7 August. https://www.reuters.com/article/us-crisis-ecb-idUSTRE7762PE20110807
   Google Scholar
• Chaffin, J., Barker, A., & Hope, K. (2011). Geithner warns EU of catastrophic risk. Financial Times, September 17.
   Google Scholar
• Claeys, G., Demertzis, M., Efstathiou, K., Raposo, I. G., Hüttl, P., & Lehmann, A. (2017). A nalysis of developments in EU capital flows in the global context. European Commission Final Report, Bruegel, FISMA/2016/032/B1/ST/OP.
   Google Scholar
• Cohen, B. J. (2006). The Macrofoundations of Monetary Power. In D. M. Andrews (ed.) International Monetary Power (pp. 31–50). Cornell University Press.
   Google Scholar
• Cohen, B. J. (2009). A grave case of myopia. International Interactions, 35(4), 436–444. https://doi.org/10.1080/03050620903329025
   Web of Science ®Google Scholar
• Cohen, B. J. (2012). The future of the Euro: Let’s get real. Review of International Political Economy, 19(4), 689–700. https://doi.org/10.1080/09692290.2012.715089
   Web of Science ®Google Scholar
• Cohen, B. J. (2015). Currency Power. Princeton University Press.
   Google Scholar
• Cohen, B. J. (2017). The IPE of money revisited. Review of International Political Economy, 24(4), 657–680. https://doi.org/10.1080/09692290.2016.1259119
   Web of Science ®Google Scholar
• Cohen, B. J. (2019). Currency Statecraft. Chicago University Press.
   Google Scholar
• Corden, M. W. (2009). The world credit crisis: Understanding it, and what to do. World Economy, 32(3), 385–400. https://doi.org/10.1111/j.1467-9701.2009.01165.x
   Web of Science ®Google Scholar
• Dahl, R. A. (1957). The Concept of Power. Behavioral Science, 2(3), 201–215. https://doi.org/10.1002/bs.3830020303
   Google Scholar
• Depres, E., Kindleberger, C., & Salant, W. (1966). The dollar and world liquidity: a minority view. Brookings Institution.
   Google Scholar
• Destais, C. (2014). Central bank currency swaps and the international monetary system. CEPII Policy Brief, 5, 1–10.
   Google Scholar
• Drezner, D. W., & McNamara, K. R. (2013). International political economy, global financial orders and the 2008 financial crisis. Perspectives on Politics, 11(1), 155–166. https://doi.org/10.1017/S1537592712003660
   Web of Science ®Google Scholar
• Eser, F., & Schwab, B. (2013). Assessing asset purchases within the ECB’s securities markets program. ECB Working Paper Series, No 1587.
   Google Scholar
• Federal Reserve. (n.d.). Central Bank Liquidity Swap Lines. https://www.federalreserve.gov/regreform/reform-swaplines.htm
   Google Scholar
• Federal Reserve. (2007a). Transcript of FOMC, September 18. https://www.federalreserve.gov/monetarypolicy/files/FOMC20070918meeting.pdf
   Google Scholar
• Federal Reserve. (2007b). Transcript of FOMC October 30-31. https://www.federalreserve.gov/monetarypolicy/files/FOMC20071031meeting.pdf
   Google Scholar
• Federal Reserve. (2007c). Transcript of conference call of the FOMC, December 6. https://www.federalreserve.gov/monetarypolicy/files/FOMC20071206confcall.pdf
   Google Scholar
• Federal Reserve. (2008a). Transcript of FOMC January 29-30. https://www.federalreserve.gov/monetarypolicy/files/FOMC20080130meeting.pdf.
   Google Scholar
• Federal Reserve. (2008b). Transcript of FOMC October 28-29. https://www.federalreserve.gov/monetarypolicy/files/FOMC20081029meeting.pdf.
   Google Scholar
• Federal Reserve. (2008c). Transcript of FOMC September 16. https://www.federalreserve.gov/monetarypolicy/files/FOMC20080916meeting.pdf
   Google Scholar
• Federal Reserve. (2010). Transcript of FOMC May 9. https://www.federalreserve.gov/monetarypolicy/files/FOMC20100509confcall.pdf
   Google Scholar
• Federal Reserve. (2011). Transcript of FOMC September 20-21. https://www.federalreserve.gov/monetarypolicy/files/FOMC20110921meeting.pdf
   Google Scholar
• Federal Reserve. (2013). Minutes of FOMC October 29-30. https://www.federalreserve.gov/monetarypolicy/files/FOMC20131030meeting.pdf
   Google Scholar
• Federal Reserve. (2018). Authorization for foreign currency operations, as reaffirmed effective January 30, 2018. https://www.federalreserve.gov/monetarypolicy/files/FOMC_ForeignAuthorization.pdf
   Google Scholar
• Federal Reserve Bank of New York. (2014). Federal Reserve foreign exchange swap agreements. http://www.newyorkfed.org/markets/fxswap/fxswap.cfm
   Google Scholar
• Ferguson, N. (2009). What “Chimerica” hath wrought. The American Interest, 4(3), 119–123.
   Google Scholar
• Gorton, G. B. (2016). The history and economics of safe assets. NBER Working Paper 22210.
   Google Scholar
• Gourinchas, P.-O., & Rey, H. (2005). From world banker to world venture capitalist: US external adjustment and the exorbitant privilege. NBER Working Paper 11563.
   Google Scholar
• Gourinchas, P.-O., Rey, H., & Govillot, N. (2010). Exorbitant privilege and exorbitant duty. IMES Discussion Paper No.2010-E-20. www.imes.boj.or.jp/research/papers/english/10-E-20.pdf.
   Google Scholar
• Hardie, I., & Maxfield, S. (2016). Atlas constrained: The US external balance sheet and international monetary power. Review of International Political Economy, 23(4), 583–613. https://doi.org/10.1080/09692290.2016.1176587
   Web of Science ®Google Scholar
• Hardie, I., Howarth, D., Maxfield, S., & Verdun, A. (2013). Banks and the false dichotomy in the comparative political economy of finance. World Politics, 65(4), 691–728. https://doi.org/10.1017/S0043887113000221
   Web of Science ®Google Scholar
• He, D., & McCauley, R. (2012). Eurodollar banking and currency internationalization. BIS Quarterly Review, 33–46.
   Google Scholar
• Helleiner, E. (2011). Understanding the 2007-08 global financial crisis: Lessons for scholars of international political economy?. Annual Review of Political Science, 14(1), 67–87. https://doi.org/10.1146/annurev-polisci-050409-112539
   Web of Science ®Google Scholar
• Helleiner, E., & Kirshner, J. (2009). The future of the dollar: Whither the key currency. ? In E. Helleiner & J. Kirshner (Eds.), The future of the dollar (pp. 1–23). Cornell University Press.
   Google Scholar
• IMF. (2010). Global Financial Stability Report. IMF.
   Google Scholar
• James, H. (2009). The enduring international preeminence of the dollar. In E. Helleiner & J. Kirshner (Eds.) The future of the dollar. (pp. 24–45). Cornell University Press.
   Google Scholar
• Kaminska, I. (2016). A global reserve requirement for all those Eurodollars. Financial Times Alphaville, April 15.
   Google Scholar
• Kindleberger, C. (1965). Balance of payments deficits and the international market for liquidity. Essays in International Finance. 46, Princeton University.
   Google Scholar
• Lewis, M. (2010). The big short. Allen Lane.
   Google Scholar
• Mayer, H. (1979). Credit and liquidity creation in the international banking sector. BIS Economic Papers, 1.
   Google Scholar
• McCauley, R. N. (2018). The 2008 crisis: Transatlantic or transpacific? BIS Quarterly Review, 39–58.
   Google Scholar
• McCauley, R. N., Bénétrix, A. S., McGuire, P. M., & von Peter, G. (2017). Financial de-globalization in banking? BIS Working Papers, 650.
   Google Scholar
• McCauley, R. N., McGuire, P. M., & Sushko, V. (2015). Global dollar credit: Links to US monetary policy and leverage. BIS Working Papers, 483.
   Google Scholar
• McDowell, D. (2012). The US as sovereign international last resort lender. New Political Economy, 17(2), 157–178. https://doi.org/10.1080/13563467.2010.542235
   Web of Science ®Google Scholar
• McDowell, D. (2017). Brother can you spare a billion?: The United States, the IMF and the International Lender of Last Resort. Oxford University Press.
   Google Scholar
• McGuire, P., & von Peter, G. (2009). The US dollar shortage in global banking. BIS Quarterly Review, 47–63.
   Google Scholar
• Mehrling, P. (2015). Elasticity and discipline in the global swap network. International Journal of Political Economy, 44(4), 311–324. https://doi.org/10.1080/08911916.2015.1129848
   Web of Science ®Google Scholar
• Morganthau, H. J. (1948). Politics among nations. Alfred A. Knopf.
   Google Scholar
• Murau, S. (2017). Shadow money and the public money supply: The Impact of the 2007-9 financial crisis on the monetary system. Review of International Political Economy, 24(5), 802–838. https://doi.org/10.1080/09692290.2017.1325765
   Web of Science ®Google Scholar
• Murau, S. (2018). Offshore dollar creation in the post-2008 international monetary system: Eurodollars, shadow money, and central bank swap lines. IASS Discussion Paper, Potsdam: Institute for Advanced Sustainability Studies.
   Google Scholar
• Obstfeld, M., & Rogoff, K. (2009). Global imbalances and the financial crisis: products of common causes. CEPR Discussion Paper DP7606.
   Google Scholar
• Roubini, N., & Mihm, S. (2010). Crisis Economics. Penguin.
   Google Scholar
• Sahasrabuddhe, A. (2019). Drawing the line: The politics of federal currency swaps in the global financial crisis. Review of International Political Economy, 26(3), 461–489. https://doi.org/10.1080/09692290.2019.1572639
   Web of Science ®Google Scholar
• Schwartz, H. (2009). Subprime nation: American power, global capital and the housing bubble. Cornell University Press.
   Google Scholar
• Schwartz, H. (2012). Euro-crisis, American lessons?. Review of International Political Economy, 19(4), 701–708. https://doi.org/10.1080/09692290.2012.719534
   Web of Science ®Google Scholar
• Schwartz, H. (2016). Banking on the FED: QE1-2-3 and the rebalancing of the global economy. New Political Economy, 21(1), 26–48. https://doi.org/10.1080/13563467.2015.1041480
   Web of Science ®Google Scholar
• Setser, B. (2008). The new ‘Westphalian’ international financial system. Journal of International Affairs, 62(1), 17–34.
   Google Scholar
• Shiller, R. (2008). The subprime solution: how today’s global financial crisis happened and what to do about it. Princeton University Press.
   Google Scholar
• Shin, H. S. (2011). ‘Global banking glut and loan risk premium’. Paper presented at the 12th Jacques Polak Annual Research Conference, Washington DC, November 10-11.
   Google Scholar
• Steil, B. (2014). Taper trouble: The international consequences of Fed policy. Foreign Affairs, 93(4), 54–61.
   Web of Science ®Google Scholar
• Thompson, H. (2009). The political origins of the financial crisis: The domestic and international politics of Fannie Mae and Freddie Mac. The Political Quarterly, 80(1), 17–24. https://doi.org/10.1111/j.1467-923X.2009.01967.x
   Web of Science ®Google Scholar
• Thompson, H. (2010). China and the mortgaging of America: Economic interdependence and domestic politics. Palgrave Macmillan.
   Google Scholar
• Thompson, H. (2016). Enduring capital flow constraints and the 2007-8 financial and euro-zone crises. British Journal of Politics and International Relations, 18(1), 216–233. https://doi.org/10.1177/1369148115612791
   Web of Science ®Google Scholar
• Tooze, A. (2018). Crashed: how a decade of financial crisis changed the world. Allen Lane.
   Google Scholar
• Van der Zwan, N. (2014). Making sense of financialization. Socio-Economic Review, 12(1), 99–129. https://doi.org/10.1093/ser/mwt020
   Web of Science ®Google Scholar
• Vermeiren, M. (2014). Power and Imbalances in the Global Monetary System: A Comparative Capitalism Perspective. Palgrave Macmillan.
   Google Scholar
• Warnock, F., & Warnock, V. (2009). International capital flows and US interest rates. Journal of International Money and Finance, 28(6), 903–919. https://doi.org/10.1016/j.jimonfin.2009.03.002
   Web of Science ®Google Scholar