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Eichengreen, Barry - 2010

We describe in this essay why the gold standard and the euro are extreme forms of fixed exchange rates, and how these …

Persistent link: https://www.econbiz.de/10012462453

The IMF in a World of Private Capital Markets

Eichengreen, Barry - 2005

The IMF attempts to stabilize private capital flows to emerging markets by providing public monitoring and emergency finance. In analyzing its role we contrast cases where banks and bondholders do the lending. Banks have a natural advantage in monitoring and creditor coordination, while bonds...

Persistent link: https://www.econbiz.de/10012467487

What Explains Changing Spreads on Emerging-Market Debt : Fundamentals or Market Sentiment?

Eichengreen, Barry - 1998

In this paper we analyze data on nearly 1,000 developing-country bonds issued in the years 1991-96 the recent episode of heavy reliance on bonded debt. We analyze both the issue decision of debtors and the pricing decision of investors, minimizing selectivity bias by treating the two issues...

Persistent link: https://www.econbiz.de/10012472400

Currency Mismatches, Debt Intolerance and Original Sin : Why They Are Not the Same and Why it Matters

Eichengreen, Barry - 2003

Recent years have seen the development of a large literature on balance sheet factors in emerging-market financial crises. In this paper we discuss three concepts widely used in this literature. Two of them original sin' and debt intolerance' seek to explain the same phenomenon, namely, the...

Persistent link: https://www.econbiz.de/10012468660

Imported or Home Grown? The 1992-3 EMS Crisis

Eichengreen, Barry; Naef, Alain - National Bureau of Economic Research - 2021

Using newly assembled data on foreign exchange market intervention, we construct a daily index of exchange market pressure during the 1992-3 crisis in the European Monetary System, allowing us to pinpoint when and where the crisis was most severe. Our analysis focuses on a neglected factor in...

Persistent link: https://www.econbiz.de/10012696397

Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008

Obstfeld, Maurice - 2009

In this paper we connect the events of the last twelve months, "The Panic of 2008" as it has been called, to the demand for international reserves. In previous work, we have shown that international reserve demand can be rationalized by a central bank's desire to backstop the broad money supply...

Persistent link: https://www.econbiz.de/10012463821

Testing

Bergbauer, Annika B. - 2018

School systems regularly use student assessments for accountability purposes. But, as highlighted by our conceptual model, different configurations of assessment usage generate performance-conducive incentives of different strengths for different stakeholders in different school environments. We...

Persistent link: https://www.econbiz.de/10012452885

The Breakup of the Euro Area

Eichengreen, Barry - 2007

The possibility that the euro area might break up was being raised even before the single currency existed. These … scenarios were then lent new life five or six years on, when appreciation of the euro and problems of slow growth in various … unlikely, I argue here, that one or more members of the euro area will leave in the next ten years; total disintegration of the …

Persistent link: https://www.econbiz.de/10012465257

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

Growth Slowdowns Redux : New Evidence on the Middle-Income Trap

Eichengreen, Barry - 2013

We analyze the incidence and correlates of growth slowdowns in fast-growing middle-income countries, extending the analysis of an earlier paper (Eichengreen, Park and Shin 2012). We continue to find dispersion in the per capita income at which slowdowns occur. But in contrast to our earlier...

Persistent link: https://www.econbiz.de/10012459988