Narrow search
Showing 1 - 10 of 2,254
Cover Image
Sudden stops, sovereign risk, and fiscal rules
Gómez González, José Eduardo; Valencia, Oscar M.; … - 2021
This paper studies the effect of implementing fiscal rules on sovereign default risk and on the probability of large capital ow reversals for a large sample of countries including both developed and emerging market economies. Results indicate that fiscal rules are beneficial for macroeconomic...
Persistent link: https://www.econbiz.de/10012586437
Cover Image
Capital flows : isues and polices
Montiel, Peter - 2013
developed, and strategies to achieve resilience to both inflows and outflows in a world where exogenous events may frequently …
Persistent link: https://www.econbiz.de/10010244171
Cover Image
External crisis vulnerability in Latin America and the Caribbean
Cavallo, Eduardo A.; Fernández Arias, Eduardo - 2023
This paper assesses the vulnerability of Latin American and Caribbean (LAC) economies to external crises. It shows that while the average LAC economy has made significant strides to reduce vulnerability to crises to its historical minimum, there is still considerable room for improvement,...
Persistent link: https://www.econbiz.de/10014536612
Cover Image
Sovereign external borrowing and multilateral lending : dynamics and crises
Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2018
the World Bank (WB). Finally, we find evidence of synchronization between MDBs and IMF during fiscal crises. …
Persistent link: https://www.econbiz.de/10011959415
Cover Image
Financial openness of China and India : implications for capital account liberalisation
Ma, Guonan; McCauley, Robert N. - 2014
We gauge the de-facto capital account openness of the Chinese and Indian economies by testing the law of one price on the basis of onshore and offshore price gaps for three key financial instruments. Generally, the three measures show both economies becoming more financially open over time. Over...
Persistent link: https://www.econbiz.de/10010402814
Cover Image
News, sovereign debt maturity, and default risk
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2018
estimation, a news shock has a larger contemporaneous impact on sovereign credit spreads than a comparable shock to labor … and a variance decomposition similar to the empirical VAR estimates. The dynamics of the economy after a bad news shock … share some features of a productivity shock and others of sudden stop events. However, unlike episodes of sudden stops, long …
Persistent link: https://www.econbiz.de/10011950496
Cover Image
The risk of external financial crisis
Cavallo, Eduardo A.; Fernández Arias, Eduardo; … - 2022
This paper explores the empirical determinants of external crises on a world panel dataset of 62 countries over the …
Persistent link: https://www.econbiz.de/10014480077
Cover Image
Bretton Woods and the reconstruction of Europe
Ohanian, Lee E.; Van Patten, Diana; … - 2019
The Bretton Woods international financial system, which was in place from roughly 1949 to 1973, is the most significant modern policy experiment to attempt to simultaneously manage international payments, international capital flows, and international currency values. This paper uses an...
Persistent link: https://www.econbiz.de/10012138670
Cover Image
External shocks and FX intervention policy in emerging economies
Carrasco, Alex; Florián Hoyle, David - 2021
This paper discusses the role of sterilized foreign exchange (FX) interventions as a monetary policy instrument for emerging market economies in response to external shocks. We develop a model for a commodity-exporting small open economy in which FX intervention is considered as a balance sheet...
Persistent link: https://www.econbiz.de/10012616248
Cover Image
Policy interventions in sovereign debt restructurings
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2019
The wave of sovereign defaults in the early 1980s and the string of debt crises in the decades that followed have fostered proposals involving policy interventions in sovereign debt restructurings. A key question about these proposals that has proved hard to handle is how they in influence the...
Persistent link: https://www.econbiz.de/10012139015