Showing 1 - 10 of 15
currencies for much of the world. Our discussion encompasses the history of anchor currency choice, methods for classifying …
Persistent link: https://www.econbiz.de/10012660025
On the twentieth anniversary of its inception, the euro has yet to expand its role as an international currency. We document this fact with a wide range of indicators including its role as an anchor or reference in exchange rate arrangements--which we argue is a portmanteau measure--and as a...
Persistent link: https://www.econbiz.de/10012479284
analysis is on three related hypotheses tested with both "world" aggregate levels and on an individual country basis. First …
Persistent link: https://www.econbiz.de/10012462855
We study economic growth and inflation at different levels of government and external debt. Our analysis is based on new data on forty-four countries spanning about two hundred years. The dataset incorporates over 3,700 annual observations covering a wide range of political systems,...
Persistent link: https://www.econbiz.de/10012463011
, the real price of oil has tended to be highly persistent and volatile whenever rapid industrialization in a major world …
Persistent link: https://www.econbiz.de/10012463721
major post-World War II episodes. The main cause of debt explosions is usually not the widely cited costs of bailing out and …
Persistent link: https://www.econbiz.de/10012463993
There is a rich scholarly literature on sovereign default on external debt. Comparatively little is known about sovereign defaults on domestic debt. Even today, cross-country data on domestic public debt remains curiously exotic, particularly prior to the 1980s. We have filled this gap in the...
Persistent link: https://www.econbiz.de/10012464703
This paper offers a "panoramic" analysis of the history of financial crises dating from England's fourteenth-century default to the current United States sub-prime financial crisis. Our study is based on a new dataset that spans all regions. It incorporates a number of important credit episodes...
Persistent link: https://www.econbiz.de/10012464765
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels with a variety of apparently conflicting results. We attempt to provide a unified conceptual framework for organizing this vast and growing...
Persistent link: https://www.econbiz.de/10012466181
Lucas (1990) argued that it was a paradox that more capital does not flow from rich countries to poor countries. He rejected the standard explanation of expropriation risk and argued that paucity of capital flows to poor countries must instead be rooted in externalities in human capital...
Persistent link: https://www.econbiz.de/10012468398