Emerging Asia and International Food Inflation

Food inflation in Asia is rising sharply (Figure 1 and 2, dark line), and the recent appreciations of the renminbi and the rupee mean even larger increases in dollar terms (Figure 1 and 2, gray line). China and India are always amongst the largest producers, consumers, importers and exporters of food such as wheat and […]

The EMBI in the Global Village

The stance of US monetary policy appears to have a lagged effect on leverage and risk aversion, and risk aversion has a contemporaneous effect on the price of risk. In turn, the price of risk in the US is related to the price of risk internationally, including the premium on emerging market bonds. Panel A, […]