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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

Original Sin, Balance Sheet Crises, and the Roles of International Lending

Zettelmeyer, Jeromin; Jeanne, Olivier - International Monetary Fund (IMF) - 2002

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

Over there : American banks abroad

Hallow, Mary J. - 1993

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

Debt Crises and the Development of International Capital Markets

Sy, Amadou N. R.; Pescatori, Andrea - International Monetary Fund (IMF) - 2004

Crises on external sovereign debt are typically defined as defaults. Such a definition accurately captures debt-servicing difficulties in the 1980s, a period of numerous defaults on bank loans. However, defining defaults as debt crises is problematic for the 1990s, when sovereign bond markets...

Persistent link: https://www.econbiz.de/10005263954

Financial Stability in Dollarized Economies

Gulde, Anne Marie; Hoelscher, David S.; Ize, Alain; … - International Monetary Fund (IMF) - 2004

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 studyâ€™s conclusions are the basis of an ongoing policy dialogue with IMF member...

Persistent link: https://www.econbiz.de/10005824860

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

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

Unanticipated Shocks and Systemic Influences; The Impact of Contagion in Global Equity Markets in 1998

González-Hermosillo, Brenda; Martin, Vance; Fry, Renee; … - International Monetary Fund (IMF) - 2003

August to September 1998 has been characterized as one of the worst episodes of global financial distress in decades. This paper investigates the transmission of the Russian and the LTCM crises through global equity markets using a panel of 14 developing and industrial countries. The results...

Persistent link: https://www.econbiz.de/10005769188

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