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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
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This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The study’s conclusions are the basis of an ongoing policy dialogue with IMF member...
Persistent link: https://www.econbiz.de/10005824860
derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national … currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro … convergence with the rest of the euro area. …
Persistent link: https://www.econbiz.de/10005767345
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implications of the first decade of the Euro and to extend this understanding forwards to Europe and beyond. …
Persistent link: https://www.econbiz.de/10010669631