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Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Durdu, Ceyhun Bora - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …

Persistent link: https://www.econbiz.de/10012465531

An Anatomy Of Credit Booms : Evidence From Macro Aggregates And Micro Data

Mendoza, Enrique G. - 2008

This paper proposes a methodology for measuring credit booms and uses it to identify credit booms in emerging and industrial economies over the past four decades. In addition, we use event study methods to identify the key empirical regularities of credit booms in macroeconomic aggregates and...

Persistent link: https://www.econbiz.de/10012464598

An Anatomy of Credit Booms and their Demise

Mendoza, Enrique G. - 2012

What are the stylized facts that characterize the dynamics of credit booms and the associated fluctuations in macro-economic aggregates? This paper answers this question by applying a method proposed in our earlier work for measuring and identifying credit booms to data for 61 emerging and...

Persistent link: https://www.econbiz.de/10012460280

Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints : A Fisherian Deflation of Tobin's Q

Mendoza, Enrique G. - 2006

consistent with the key features of Sudden Stops. Standard shocks to imported input prices, the world interest rate, and …

Persistent link: https://www.econbiz.de/10012466098