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Christiano, Lawrence J. - 2002

What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what conditions will a cut stimulate output and employment, and raise welfare? Under what conditions will a cut have the opposite e ffects? We answer these questions in a general...

Persistent link: https://www.econbiz.de/10012469709

Recovery and Sustainability in East Asia

Park, Yung Chul - 2001

This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The stylized pattern from the previous 160 currency crisis episodes over the period from 1970 to 1995 shows a V-type adjustment of real GDP growth in the years prior to and...

Persistent link: https://www.econbiz.de/10012470347

The Yen and Its East Asian Neighbors, 1980-1995 : Cooperation or Competition?

Takagi, Shinji - 1996

By looking at how an East Asian currency moves when the yen fluctuates sharply against the US dollar, we sometimes find that the reaction has been much more significant than would be suggested by the econometric estimates of the weight of the yen in nominal exchange rate determination. Moreover,...

Persistent link: https://www.econbiz.de/10012473118

Did the Malaysian Capital Controls Work?

Kaplan, Ethan - 2001

Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998 …. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not … play a significant role in facilitating Malaysia's rebound. However, the financial crisis was deepening in Malaysia in the …

Persistent link: https://www.econbiz.de/10012470587

Preventing currency crises in emerging markets

Edwards, Sebastian (ed.); Frankel, Jeffrey A. (contributor) - 2002

Persistent link: https://www.econbiz.de/10001664021

Understanding Financial Crises : A Developing Country Perspective

Mishkin, Frederic S. - 1996

This paper explains the puzzle of how a developing economy can shift from a path of reasonable growth before a financial crisis, as in Mexico in 1994, to a sharp decline in economic activity after a crisis occurs. It does so by outlining an asymmetric information framework for analyzing banking...

Persistent link: https://www.econbiz.de/10012473248

Restoring Confidence in Troubled Financial Institutions After a Financial Crisis

Calomiris, Charles W.; Carlson, Mark - National Bureau of Economic Research - 2022

After an unprecedented number of banks suspended operations during the Panic of 1893, the head regulator of banks chartered by the United States government allowed about 100 banks to reopen after certifying their solvency. We evaluate whether actions by bank owners to change management, contract...

Persistent link: https://www.econbiz.de/10013334444

An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime

Bordo, Michael D. - 2017

This paper surveys the co-evolution of monetary policy and financial stability for a number of countries across four exchange rate regimes from 1880 to the present. I present historical evidence on the incidence, costs and determinants of financial crises, combined with narratives on some famous...

Persistent link: https://www.econbiz.de/10012453559

Causes of the Korean Financial Crisis : Lessons for Policy

Hahm, Joon-Ho - 2000

This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers...

Persistent link: https://www.econbiz.de/10012471293

External Constraints on Monetary Policy and the Financial Accelerator

Gertler, Mark - 2003

lending rates and the large drop in output, investment and productivity during the 1997-1998 episode. We then perform some …

Persistent link: https://www.econbiz.de/10012468566

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