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Staying Afloat When the Wind Shifts : External Factors and Emerging-Market Banking Crises

Eichengreen, Barry - 1998

We analyze banking crises using a panel of macroeconomic and financial data for more than one hundred developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular Northern interest rates are...

Persistent link: https://www.econbiz.de/10012472448

Do WTO Members have More Liberal Trade Policy?

Rose, Andrew K. - 2002

This paper uses 68 measures of trade policy and trade liberalization to ask if membership in theWorld Trade Organization (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) is associated with more liberal trade policy. Almost no measures of trade policy are significantly...

Persistent link: https://www.econbiz.de/10012469358

The Endogeneity of the Optimum Currency Area Criteria

Frankel, Jeffrey A. - 1996

A country's suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other...

Persistent link: https://www.econbiz.de/10012473138

After the Deluge : Do Fixed Exchange Rates Allow Inter-Temporal Volatility Tradeoffs?

Rose, Andrew K. - 1995

This paper addresses the issue of whether regimes of fixed exchange rates are a mechanism for shifting volatility inter- temporally. Using a panel of data covering twenty industrialized countries from 1959 through 1993, I examine the volatilities of a host of real and monetary variables....

Persistent link: https://www.econbiz.de/10012473658

Fixing Exchange Rates : A Virtual Quest for Fundamentals

Flood, Robert P. - 1993

Fixed exchange rates are less volatile than floating rates. But the volatility of macroeconomic variables such as money and output does not change very much across exchange rate regimes. This suggests that exchange rate models based only on macroeconomic fundamentals are unlikely to be very...

Persistent link: https://www.econbiz.de/10012474442

Crunch Time : Fiscal Crises and the Role of Monetary Policy

Greenlaw, David - 2013

Countries with high debt loads are vulnerable to an adverse feedback loop in which doubts by lenders lead to higher sovereign interest rates which in turn make the debt problems more severe. We analyze the recent experience of advanced economies using both econometric methods and case studies...

Persistent link: https://www.econbiz.de/10012459364

Protectionism Isn't Counter‐Cyclic (anymore)

Rose, Andrew K. - 2012

. While that may have been a valid description of the data before the Second World War, it is now inaccurate. In the post …

Persistent link: https://www.econbiz.de/10012460597

Preventing Financial Crises : An International Perspective

Mishkin, Frederic S. - 1994

In recent years the possibility of an international financial crisis has increased because of greater liquidity of international financial markets, an increase in corporate indebtedness and the decline of the banking industry. Using an asymmetric information analysis, this paper outlines what...

Persistent link: https://www.econbiz.de/10012474300

The Rational Expectations Revolution : A Review Article of

Mishkin, Frederic S. - 1995

This review article of Preston Miller's The Rational Expectations Revolution, Readings From the Front Line focuses on the impact of this research on macroeconomic policymaking. Although policymakers have generally not accepted the equilibrium business cycle models advocated in many of the...

Persistent link: https://www.econbiz.de/10012473850

Globalization, Macroeconomic Performance, and Monetary Policy

Mishkin, Frederic S. - 2008

The paper argues that many of the exaggerated claims that globalization has been an important factor in lowering … inflation in recent years just do not hold up. Globalization does, however, have the potential to be stabilizing for individual … globalization on the monetary transmission mechanism and arrives at the following answers: (1) Has globalization led to a decline in …

Persistent link: https://www.econbiz.de/10012464701