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On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
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This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view … euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is … insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an …
Persistent link: https://www.econbiz.de/10005825711
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
estimation finds these economic indicators to be significant for emerging market countries during the Mexican, Asian, and Russian …
Persistent link: https://www.econbiz.de/10005769104
We present a stylized framework which encompasses a variety of "balance sheet approaches" to currency crises that have been suggested in the literature, and analyze their policy implications. The common theme is that currency and maturity mismatches in private sector balance sheets constrain the...
Persistent link: https://www.econbiz.de/10005599651
This paper takes a step in empirically testing the implications of a number of theoretical models that attempt to highlight the dynamics behind currency crises. By focusing on countries with broadly disparate economic and political arrangements, the study attempts to determine the extent to...
Persistent link: https://www.econbiz.de/10005599757
against the euro relative to the U.S. dollar, while the opposite is true for the zloty, apparently related to earlier … inflation rates. By contrast, the currency options market shows enhanced information content of both currencies against the euro …
Persistent link: https://www.econbiz.de/10005826189
We test the hypothesis of a link between exchange rate policy and sovereign bonds. We analyze the effect of exchange rate policies on supply and credit spreads of sovereign bonds issued by developing countries. An exchange rate policy is captured by the de facto exchange rate regime and the real...
Persistent link: https://www.econbiz.de/10005599729