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The Economics of Currency Crises and Contagion: An Introduction

Pesenti, Paolo A.; Tille, Cédric - Federal Reserve Bank <New York, NY> - 2000

[...]We begin by discussing the so-called first generation ofmodels, in which crises are viewed in the literature as theunavoidable result of unsustainable policies or fundamentalimbalances. Next, we survey the literature on the secondgeneration of models, which highlights the possibility of...

Persistent link: https://www.econbiz.de/10005869910

What explains global exchange rate movements during the financial crisis?

Fratzscher, Marcel - European Central Bank - 2009

A striking and unexpected feature of the financial crisis has been the sharpappreciation of the US dollar against virtually all currencies globally. The paper findsthat negative US-specific macroeconomic shocks during the crisis have triggered asignificant strengthening of the US dollar, rather...

Persistent link: https://www.econbiz.de/10005866568

EARLY WARNING SYSTEMS OF FINANCIAL CRISES - IMPLEMENTATION OF ACURRENCY CRISIS MODEL FOR UGANDA

Heun, Michael; Schlink, Torsten - Frankfurt School of Finance & Management - 2004

The objective of this paper is to implement a prototype of a currency crisis modelas part of an early warning system framework for Uganda. The financial systemsof developing countries like Uganda are especially vulnerable and therefore robustinstruments to predict crises are needed. Our model is...

Persistent link: https://www.econbiz.de/10005865806

Detecting Speculative Bubbles in Stock Prices : a New Approach and Some Evidence for the US

Siklos, Pierre L.; Bohl, Martin T. - 2001

A large part of the current debate on US stock price behaviorconcentrates on the question of whether stock prices are driven byfundamentals or by non-fundamental factors(...)

Persistent link: https://www.econbiz.de/10005843733

Market Returns and Mutual Fund Flows

Remolona, Eli M.; Kleiman, Paul; Bocian, Debbie Gruenstein - Federal Reserve Bank <New York, NY>; London School of … - 1997

[...]In this study, we use recent historical evidence toexplore one dimension of the broad relationship betweenmarket returns and mutual fund flows: the effect of shorttermmarket returns on mutual fund flows. Research onthis issue has already confirmed high correlations betweenmarket returns and...

Persistent link: https://www.econbiz.de/10005870270

Die Korea-Krise als Chance?

Goydke, Tim - 1999

Stellt sich das Investitionsklima für deutsche Unternehmen seit der Krise von 1997/98 in Korea tatsächlich so positiv dar, wie Medienberichte und Wirtschaftszahlen suggerieren oder ist die Entwicklung möglicherweise nur auf einige wenige "Großeinkäufe" deutscher Großunternehmen...

Persistent link: https://www.econbiz.de/10005841460

Asia’s Trade Performance after the Currency Crisis

Higgins, Matthew J.; Klitgaard Hertel, Thomas - Federal Reserve Bank <New York, NY> - 2000

[...]A key observation is that import and export prices roughlytracked each other, with both tracking the behavior of worldtradable goods prices. Indeed, trade prices were fallingthroughout Asia by similar magnitudes, regardless of howmuch each country’s currency depreciated. For both...

Persistent link: https://www.econbiz.de/10005869932

Asia Crisis Postmortem: Where Did the Money Go and Did the United States Benefit?

Van Wincoop, Eric; Yi, Kei-Mu - Federal Reserve Bank <New York, NY> - 2000

[...]In our view, this apparently surprising immunity of the U.S.economy to the Asia crisis reflects the fact that the original wayof thinking about the crisis was flawed. First, it focused only ondemand-side channels and ignored the supply side. Second, thedepreciation of the Asian currencies...

Persistent link: https://www.econbiz.de/10005869933

Messung und Bewertung sozialer Folgelasten für die Geberländerdes Euro-Rettungsfonds

Maier, Helmut - Leontief-Institut für Wirtschaftsanalyse - 2011

. Euro) aufgespannt, unter anderem deshalb, weil ähnliche Schockwellen wie beim Zusammenbruch der US-Bank Lehman Brothers … befürchtet wurden und ein Zusammenbruch der Gemeinschaftswährung Euro vermieden werden sollte. Während diese solidarische …. Euro verdoppelt; nach Jean-Claude Juncker, Vorsitzender der Eurogruppe, beziffert diese Zahl die „effektive …

Persistent link: https://www.econbiz.de/10008911488

Risk and Wealth in a Model of Self-Fulfilling Currency Attacks

Guimarães, Bernardo; Morris, Stephen - London School of Economics and Political Science - 2006

Market participants' risk attitudes, wealth and portfolio composition influence their positions in apegged foreign currency and, therefore, may have important effects on the sustainability of currencypegs. We analyze such effects in a global game model of currency crises with continuous...

Persistent link: https://www.econbiz.de/10008911497