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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 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
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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
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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
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Financial Repression and Exchange Rate Management in Developing Countries; Theory and Empirical Evidence for India
Kohli, Renu; Kletzer, Kenneth - International Monetary Fund (IMF) - 2001
Most developing countries have imposed restrictions on domestic and international financial transactions at one time or another. Such restrictions have allowed governments to generate significant proportions of their revenues from financial repression while restraining inflation. The eventual...
Persistent link: https://www.econbiz.de/10005826206
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Looking backwards and living forwards: the EMU and the history of monetary unions in Western Europe
Barbezat, Daniel - In: International Journal of Economics and Business Research 2 (2010) 1/2, pp. 10-30
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
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The US Dollar and the Euro: Deus Ex-Machina
Lorca-Susino, Maria - Volkswirtschaftliche Fakultät, … - 2008
the end of Pax Americana and the beginning of something else, possibly a Pax Europea, led by the strength of the euro … performance of these two economic blocs. While the current exchange rate between the US dollar and the euro has been considered a … worried. The strength of the euro is becoming irritating for the Eurozone and, nevertheless, the weakness of the US dollar is …
Persistent link: https://www.econbiz.de/10005789886
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An Anatomy of Credit Booms; Evidence From Macro Aggregates and Micro Data
Terrones, Marco; Mendoza, Enrique G. - International Monetary Fund (IMF) - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10005263687
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Managing Financial Crises; The Experience in East Asia
Lane, Timothy D.; Hamann, A. Javier; Schulze-Gattas, … - International Monetary Fund (IMF) - 2000
The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management...
Persistent link: https://www.econbiz.de/10005263845
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External Liabilities and Crises
Catão, Luis; Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2013
We examine the determinants of external crises, focusing on the role of foreign liabilities and their composition. Using a variety of statistical tools and comprehensive data spanning 1970-2011, we find that the ratio of net foreign liabilities (NFL) to GDP is a significant crisis predictor, and...
Persistent link: https://www.econbiz.de/10010838007
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Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies
Comelli, Fabio - International Monetary Fund (IMF) - 2013
The purpose of this paper is to compare in-sample and out-of-sample performances of three parametric and non-parametric early warning systems (EWS) for currency crises in emerging market economies (EMs). The parametric EWS achieves superior out-of-sample results compared to the non-parametric...
Persistent link: https://www.econbiz.de/10010790354