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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Were Bid-Ask Spreads in the Foreign Exchange Market Excessive During the Asian Crisis?
Becker, Törbjörn I.; Sy, Amadou N. R. - International Monetary Fund (IMF) - 2005
of excessive spreads. The result is largely explained by the substantial increase in exchange rate volatility during the …
Persistent link: https://www.econbiz.de/10005826576
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Trade and Financial Contagion in Currency Crises
Salgado, Ranil; Ricci, Luca Antonio; Caramazza, Francesco - International Monetary Fund (IMF) - 2000
estimation finds these economic indicators to be significant for emerging market countries during the Mexican, Asian, and Russian …
Persistent link: https://www.econbiz.de/10005769104
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Discriminating Contagion; An Alternative Explanation of Contagious Currency Crises in Emerging Markets
Ahluwalia, Pavan - International Monetary Fund (IMF) - 1999
This paper shows that a country’s vulnerability to contagious crises depends on the visible similarities between that country and other countries that are experiencing crises. A country is vulnerable to shifts in investor sentiment if it exhibits weaknesses in the same economic variables as...
Persistent link: https://www.econbiz.de/10005599208
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Original Sin, Balance Sheet Crises, and the Roles of International Lending
Zettelmeyer, Jeromin; Jeanne, Olivier - International Monetary Fund (IMF) - 2002
We present a stylized framework which encompasses a variety of "balance sheet approaches" to currency crises that have been suggested in the literature, and analyze their policy implications. The common theme is that currency and maturity mismatches in private sector balance sheets constrain the...
Persistent link: https://www.econbiz.de/10005599651
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Currency Crises in Developed and Emerging Market Economies; A Comparative Empirical Treatment
Fontaine, Thomson - International Monetary Fund (IMF) - 2005
This paper takes a step in empirically testing the implications of a number of theoretical models that attempt to highlight the dynamics behind currency crises. By focusing on countries with broadly disparate economic and political arrangements, the study attempts to determine the extent to...
Persistent link: https://www.econbiz.de/10005599757
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Assessing Competitiveness Using Industry Unit Labor Costs; An Application to Slovakia
International Monetary Fund (IMF); International … - 2012
Conceptual ambiguities and statistical weaknesses hamper the assessment of external competitiveness. The term competitiveness, while applied extensively, is often imprecisely defined, which can result in analytical errors and mistaken policy advice. Furthermore, aggregate statistical measures of...
Persistent link: https://www.econbiz.de/10011242314
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Transmission of Financial Stress in Europe: The Pivotal Role of Italy and Spain, but not Greece
González-Hermosillo, Brenda; Johnson, Christian A - International Monetary Fund (IMF) - 2014
This paper proposes a stochastic volatility model to measure sovereign financial distress. It examines how key European … sovereign credit default swap (CDS) spreads affect each other; specifically, the paper analyses the volatility structure of … explaining each other’s volatility while Germany also plays an important role. It is found that extreme bad news led to …
Persistent link: https://www.econbiz.de/10011142190
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The Bahamas; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2005
This Selected Issues paper for The Bahamas reports that the largest portion of tourism expenditure in The Bahamas comes from stayover visitors, and total tourism spending has been stagnant. The Bahamas is a small open economy highly dependent on tourism and the offshore financial sector. Private...
Persistent link: https://www.econbiz.de/10005252900
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What Attracts tourists to Paradise?
Tsounta, Evridiki - International Monetary Fund (IMF) - 2008
This paper investigates the determinants of tourism demand in the Eastern Caribbean Currency Union. We estimate the demand function in a panel setting using annual data from 1979 to 2005. Results show that tourism arrivals are significantly affected by economic developments in the source...
Persistent link: https://www.econbiz.de/10005769110