The IMM Archive
Explore past publications, commentary, interviews and video presentations from the International Monetary Monitor.
The IMM Newsletter
Latest IMM Newsletter editions:
Full IMM Newsletter Archive including all past editions.
Other Publications
Hong Kong’s Link to the US Dollar
Origins and Evolution – Second Edition
This updated edition of John Greenwood’s authoritative study explains the origins and development of Hong Kong’s linked exchange rate system. Drawing on first-hand analysis and key historical documents, the book examines the city’s currency crises, the creation and reform of the currency board, and the evolution of the monetary framework from 1983 through to 2020.
It provides readers with a clear understanding of why Hong Kong adopted the linked system, how it has operated in periods of stress, and how the framework has been strengthened over time.
Other Monetary Articles
Full Other Monetary Articles Archive
John Greenwood's Course on the Monetary Theory of Asset Prices
Introduction
Why Money Matters for Investors
How Money is Created
Quantifying the Impact of Money - Part 1
Quantifying the Impact of Money - Part 2
Money Creation and the Exchange Rate Regime
Money and Shadow Banking
Summary: Money and the Business Cycle
Money Counterpart Analysis
Case studies of Hong Kong and Australia
Summary: Drivers of Change in Monetary Growth
Money and credit in Financial bubbles and Busts
Case Studies of Sweden and Thailand
Solving FInancial Crises with QE
Two Different Brands of QE and Their Impact:
Summary: Severe Recessions and Debt Crises
Asset Allocation Through the Business Cycle
Monetary Policy in a Global Health Crisis
Summary: Investment Principles from Monetary Analysis
Video Archive
A study on income velocity in 89 countries - John Greenwood & Steve Hanke (Monetary Conference 2025)
Inflation in the Aftermath of COVID-19: Was It Inevitable or Avoidable?
How This Man Saved Hong Kong's Financial Future
Discussion on the Japanese economy, from its outlier monetary policy to Prime Minister Fumio Kishida’s “New Capitalism”. Panelists include economists John Greenwood and Richard Katz
John Greenwood, chief economist at Invesco Asset Management and architect of Hong Kong's fixed-exchange-rate system, talks about the outlook for the local currency's peg to the U.S. dollar. Greenwood also discusses China's yuan policy and Europe's debt problems. He spoke yesterday with Bloomberg's Robyn Meredith. (Source: Bloomberg)
John Greenwood, chief economist at Invesco Asset Management, talks about China's trade surplus and inflation outlook.
Asian Monetary Monitor
The Asian Monetary Monitor (AMM) served as the original publication dedicated to tracking and analysing monetary and financial conditions across Asia. As a historical predecessor to the International Monetary Monitor, the AMM helped establish the analytical foundation and regional insights that later evolved into the broader global perspective of the IMM.
View the Asian Monetary Monitor Archive