One of the most serious problems that a central bank in an emerging market economy can face is the sudden reversal of … portfolios held by central banks can significantly improve the efficiency of the anti-sudden stop mechanism. We illustrate this …

This paper studies how foreign investors' concerns about model misspecification affect sovereign bond spreads. We … their bond holdings to compensate for the default risk in the context of uncertainty. In contrast with the existing …

Even in a world with rational expectations, it has been well established theoretically that if the central bank …

Whether central banks should play an active role in bank supervision and regulation is being debated both in the United … considering enhancing central bank involvement in this area. Many of the arguments for and against these proposals hinge on the … effect this change would have on the ability of the central bank to conduct monetary policy. We find that confidential …

Recently, several central banks have lost their bank supervisory responsibilities, in part because it has not been … monetary policy should be an important consideration when evaluating the structure of the central bank. …

We examine foreign acquisitions of United States banks around the time of the ownership change to determine whether the … observed poor performance of foreign subsidiaries is the result of changes in business strategy or the preexisting …, changes in business strategy by the foreign owners were generally not successful in raising the banks's performance level to …

We develop a matching model of foreign direct investment to study how multinational firms choose between greenfield …

We develop a matching model of foreign direct investment to study how multinational firms choose between greenfield …