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The decline of Latin American economies : growth, institutions, and crises

Edwards, Sebastian (ed.) - 2007

Persistent link: https://www.econbiz.de/10013480802

Morales, Juan Antonio - 1988

By any standard, Bolivia's economic crisis in the 1980's has been extraordinary. Like its neighbors. Bolivia suffered from major external shocks, but the extent of economic collapse in the face of these shocks (including a hyperinflation during 1984-85) suggests that internal factors as well as...

Persistent link: https://www.econbiz.de/10012476427

Globalization, Growth and Crises : The View from Latin America

Edwards, Sebastian - 2008

's history has been characterized by low growth, high inflation and recurrent external crises. In Section, I deal formally with …

Persistent link: https://www.econbiz.de/10012464617

Optimal Reserve Management and Sovereign Debt

Alfaro, Laura - 2007

To study the joint decision of holding sovereign debt and reserves, we construct a stochastic dynamic equilibrium model that incorporates willingness-to-pay incentive problems. In this setup, debt and assets are not perfect substitutes, as reserves can be used even after a country has defaulted....

Persistent link: https://www.econbiz.de/10012465438

Sudden Stop, Financial Factors and Economic Collpase in Latin America : Learning from Argentina and Chile

Calvo, Guillermo A. - 2005

This paper shows that the Russian 1998 crisis had a big impact on capital flows to Emerging Market Economies, EMs, especially in Latin America, and that the impact of the Russian shock differs quite markedly across EMs. To illustrate this statement, we compare the polar cases of Chile and...

Persistent link: https://www.econbiz.de/10012467532

Liquidity and Foreign Asset Management Challenges for Latin American Countries

Aizenman, Joshua - 2014

We analyze the degree to which the growing importance of sovereign wealth funds [SWFs] and the diffusion of inflation … Recession and the post-Great Recession period. Inflation targeting (IT) policy matters: IT countries give up the use of reserves …, their monetary authorities place large weights on output gaps; while inflation gains importance for IT countries. Countries …

Persistent link: https://www.econbiz.de/10012458019

Living with the Trilemma Constraint : Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries

Aizenman, Joshua - 2013

This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...

Persistent link: https://www.econbiz.de/10012459214

The Political Economy of the COVID-19 Fiscal Stimulus Packages of 2020

Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - National Bureau of Economic Research - 2021

Almost all countries announced fiscal support programs once COVID-19 hit. However, there was significant diversity in the magnitude and composition of these fiscal stimulus programs. These differences were determined by myriad political, financial, social, and economic factors - these factors...

Persistent link: https://www.econbiz.de/10012660038

Norwegian and US Policies Alleviate Business Vulnerability Due to the Covid-19 Shock Equally Well

Alstadsæter, Annette - 2020

We use Norwegian administrative data and applications for emergency government support to simulate magnitude and distribution of business revenue shock due to the Covid-19 pandemic. We rely on it to analyze the impact of business support policies available in Norway and the United States by...

Persistent link: https://www.econbiz.de/10012481185

The Ends of 30 Big Depressions

Ellison, Martin - 2020

How did countries recover from the Great Depression? In this paper we explore the argument that leaving the gold standard helped by boosting inflationary expectations and lowering real interest rates. We do so for a sample of 30 countries, using modern nowcasting methods and a new dataset...

Persistent link: https://www.econbiz.de/10012481440