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Managing Financial Crises; Recent Experience and Lessons for Latin America

Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003

This paper seeks to draw lessons from the IMFâ€™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

Trade and Financial Contagion in Currency Crises

Salgado, Ranil; Ricci, Luca Antonio; Caramazza, Francesco - International Monetary Fund (IMF) - 2000

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

Over there : American banks abroad

Hallow, Mary J. - 1993

Persistent link: https://www.econbiz.de/10004163218

Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries

Yue, Vivian Z.; Jahjah, Samir - International Monetary Fund (IMF) - 2004

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

What Caused the 1991 Currency Crisis in India?

Saxena, Sweta Chaman; Cerra, Valerie - International Monetary Fund (IMF) - 2000

Did real overvaluation contribute to the 1991 currency crisis in India? This paper seeks an answer by constructing the equilibrium real exchange rate, using an error correction model and a technique developed by Gonzalo and Granger (1995). The results are affirmative and the evidence indicates...

Persistent link: https://www.econbiz.de/10005263897

Exchange Rate Policy and Debt Crises in Emerging Economies

Montiel, Peter; Jahjah, Samir - International Monetary Fund (IMF) - 2003

We explore a model intended to capture the interaction between exchange rate policy, fiscal policy, and outright default on foreign-currency denominated debt. We examine how the exchange rate affects the supply of short-term debt facing the government. We show that under a credible hard peg...

Persistent link: https://www.econbiz.de/10005826111

Currency Boards, Credibility, and Macroeconomic Behavior

Sy, Amadou N. R.; Rivera-Batiz, Luis - International Monetary Fund (IMF) - 2000

Currency boards operate differently from standard pegs. The former exhibit greater currency stability and lower transaction costs, inflation, and nominal interest rates, but are limited in their use of devaluation. We extend Drazen and Masson’s (1994) signaling model to consider the choice...

Persistent link: https://www.econbiz.de/10005768949

The Pros and Cons of Full Dollarization

Borensztein, Eduardo; Berg, Andrew - International Monetary Fund (IMF) - 2000

We analyze the costs and benefits of full dollarization compared to its closest alternative, a currency board, quantifying for Argentina where possible. Potential advantages include lower borrowing costs and deeper integration into world markets. One cost is the transfer of seigniorage to the...

Persistent link: https://www.econbiz.de/10005605277

Adopting the Euro in Central Europe; Challenges of the Next Step in European Integration

International Monetary Fund (IMF); International … - 2005

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

Ist der Dollar noch zu retten? : der Egoismus der USA

Fritz, Paul - 1990

Persistent link: https://www.econbiz.de/10004112406

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