where this concern is mitigated. Namely, we show that there is a substantial penalty against Asian Americans in admissions … with limited scope for omitted variables to overturn the result. This is because (i) Asian Americans are substantially … predicts admissions extremely well. Our preferred model shows that Asian Americans would be admitted at a rate 19% higher …

We review the modern history of financial crises, providing a context for analyses of the world's recent bout of … financial instability. Along with indicators of economic performance in the subject countries, we present a comprehensive …

The paper argues that global financial factors played an important role in the capital-inflow episode in Emerging … required. These results strongly suggest that: (1) deep financial crises can be prevented or at least largely alleviated and (2 … to succeed in fully shielding these economies from global financial shocks if not supported by arrangements like the EMF …

Asian Financial Crisis (AFC). In contrast, the Global Financial Crisis did not lead to a drastic change in the policy …The "monetary trilemma" - the hypothesis that full monetary policy autonomy, exchange rate stability, and financial … flexibility and financial openness. This finding is true for commodity, but not manufactured goods, exporters. Countries with …

monetary policy in an open economy with financial frictions, nominal rigidities, and sudden stops. We focus on a time …

Paths into the Asian Crisis of 1997-98 and the recent global financial crisis were similar, but the roads out could not …

: The Role of Reserve Accumulation," focuses on nine Asian economies: China, India, Indonesia, Japan, Korea, Malaysia … and financial turmoil (including its history, if any, with IMF programs) …

investment, however, is perplexing. For the nine Asian economies we focus on in this study, average investment/GDP is about 6 …, the estimated decline exceeds 9 percent. We document how in the wake of crisis home bias in finance usually increases …, or just plain undesirable from a financial stability perspective. Also, previous studies have not made a connection …

The 1990s Sudden Stops in emerging markets were a harbinger for the 2008 global financial crisis. During Sudden Stops … borrowing decisions affect collateral values during future financial crises …