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Yet it endures : the persistence of original sin

Eichengreen, Barry; Hausmann, Ricardo; Panizza, Ugo - 2022

Persistent link: https://www.econbiz.de/10013455433

Fetters of Gold and Paper

Eichengreen, Barry - 2010

We describe in this essay why the gold standard and the euro are extreme forms of fixed exchange rates, and how these …

Persistent link: https://www.econbiz.de/10013139971

The euro crisis in the mirror of the EMS

Corsetti, Giancarlo; Eichengreen, Barry; Hale, Galina; … - 2019

Persistent link: https://www.econbiz.de/10012122524

Currency Mismatches, Debt Intolerance and Original Sin : Why They are Not the Same and Why it Matters

Eichengreen, Barry; Hausmann, Ricardo; Panizza, Ugo - 2021

Recent years have seen the development of a large literature on balance sheet factors in emerging-market financial crises. In this paper we discuss three concepts widely used in this literature. Two of them original sin' and debt intolerance' seek to explain the same phenomenon, namely, the...

Persistent link: https://www.econbiz.de/10013225038

The trials of the trilemma : international finance 1870-2017

Esteves, Rui Pedro; Eichengreen, Barry - 2019

Persistent link: https://www.econbiz.de/10012051739

The Breakup of the Euro Area

Eichengreen, Barry - 2010

The possibility that the euro area might break up was being raised even before the single currency existed. These … scenarios were then lent new life five or six years on, when appreciation of the euro and problems of slow growth in various … unlikely, I argue here, that one or more members of the euro area will leave in the next ten years; total disintegration of the …

Persistent link: https://www.econbiz.de/10012759842

Financial collapse and active monetary policy : a lesson from the Great Depression

Cooper, Russell W.; Corbae, Dean - 2001

"We analyze financial collapses, such as the one that occurred during the U.S. Great Depression, from the perspective of a monetary model with multiple equilibria.The multiplicity arises from the presence of a strategic complementarity due to increasing returns to scale in the intermediation...

Persistent link: https://www.econbiz.de/10001565889

Macroeconomic Adjustment Under Bretton Woods and the Post-Bretton Woods Float : An Impulse-Response Analysis

Bayoumi, Tamim; Eichengreen, Barry - 2021

We use time-series methods to estimate a simple aggregate-supply aggregate-demand model in order to analyze the comparative performance of fixed- and flexible-exchange-rate systems and test competing hypotheses designed to explain shifts between exchange-rate regimes. The paper provides a...

Persistent link: https://www.econbiz.de/10013226928

Contagious Currency Crises

Eichengreen, Barry; Rose, Andrew Kenan; Wyplosz, Charles - 2010

This paper is concerned with the fact that the incidence of speculative attacks tends to be temporally correlated; that is, currency crises appear to pass contagiously from one country to another. The paper provides a survey of the theoretical literature, and analyzes the contagious nature of...

Persistent link: https://www.econbiz.de/10014076135

Currency Crisis and Unemployment : Sterling in 1931

Eichengreen, Barry; Jeanne, Olivier - 2021

This paper studies the role of unemployment in sterling's interwar experience. According to most narrative accounts, the proximate cause of the 1931 sterling crisis was a high and rising unemployment rate that placed pressure on British governments to pursue reflationary policies. We present a...

Persistent link: https://www.econbiz.de/10013224321