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The impacts of financial crises on the trilemma configurations
Aizenman, Joshua; Chinn, Menzie David; Ito, Hiroyuki - 2022
Persistent link: https://www.econbiz.de/10014431919
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Living with the Trilemma Constraint : Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries
Aizenman, Joshua - 2013
This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...
Persistent link: https://www.econbiz.de/10012459214
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Living with the Trilemma Constraint : Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries
Aizenman, Joshua - 2013
This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...
Persistent link: https://www.econbiz.de/10013075864
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Uncertainty and the disappearance of international credit
Aizenman, Joshua; Marion, Nancy Peregrim - 1999
Persistent link: https://www.econbiz.de/10001421643
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Reserve Requirements on Sovereign Debt in the Presence of Moral Hazard -- on Debtors or Creditors?
Aizenman, Joshua - 1999
lender side (i.e., the anticipation that the taxpayer will bailout lending banks if large default will occur) and sovereign … increase with the expected bailout. Such a policy induces the lender to internalize the expected tax payer cost of the bailout …. Thus a more generous bailout that is accompanied by an optimal adjustment in the lender's reserve requirements exactly …
Persistent link: https://www.econbiz.de/10012471796
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Reserve Requirements on Sovereign Debt in the Presence of Moral Hazard -- on Debtors or Creditors?
Aizenman, Joshua - 2010
lender side (i.e., the anticipation that the taxpayer will bailout lending banks if large default will occur) and sovereign … increase with the expected bailout. Such a policy induces the lender to internalize the expected tax payer cost of the bailout …. Thus a more generous bailout that is accompanied by an optimal adjustment in the lender's reserve requirements exactly …
Persistent link: https://www.econbiz.de/10012763810
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Uncertainty and the Disappearance of International Credit
Aizenman, Joshua - 1999
We show that increased uncertainty about the size of an emerging market's external debt has a nonlinear and potentially large adverse effect on the supply of international credit offered to them. We also show that if international creditors are first- order risk averse, attaching greater weight...
Persistent link: https://www.econbiz.de/10012471396
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Uncertainty and the Disappearance of International Credit
Aizenman, Joshua; Marion, Nancy Peregrim - 2021
We show that increased uncertainty about the size of an emerging market's external debt has a nonlinear and potentially large adverse effect on the supply of international credit offered to them. We also show that if international creditors are first- order risk averse, attaching greater weight...
Persistent link: https://www.econbiz.de/10013240948
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Emerging Markets Sovereign CDS Spreads During Covid-19 : Economics Versus Epidemiology News
Daehler, Timo; Aizenman, Joshua; Jinjarak, Yothin - 2021
Can bad news about COVID-19 induce negative expectations on sovereign credit risks? We investigate the factors driving credit default swap (CDS) spreads of emerging market sovereigns around the outbreak of COVID-19. Using 2014-2019 data, we estimate a two-factor model of global and regional...
Persistent link: https://www.econbiz.de/10013236709
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The political-economy trilemma
Aizenman, Joshua; Ito, Hiroyuki - 2020
Persistent link: https://www.econbiz.de/10014365976