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The Level Reer Model in the External Balance Assessment (EBA) Methodology

Mano, Rui C. - 2019

This paper offers an empirical model of the drivers of the level of the Real Effective Exchange Rate (REER) that is now part of the IMF's methodology for the assessment of external positions, including exchange rates. It constructs a measure of the level of the REER and it offers a panel...

Persistent link: https://www.econbiz.de/10012860991

Taming Financial Development to Reduce Crises

Ben Naceur, Sami - 2019

This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for almost 100 countries. Through estimation of a dynamic logit panel model, it...

Persistent link: https://www.econbiz.de/10012868462

External Liabilities and Crises

Catão, Luis - 2013

We examine the determinants of external crises, focusing on the role of foreign liabilities and their composition. Using a variety of statistical tools and comprehensive data spanning 1970-2011, we find that the ratio of net foreign liabilities (NFL) to GDP is a significant crisis predictor, and...

Persistent link: https://www.econbiz.de/10013080853

The External Balance Assessment (EBA) Methodology

Phillips, Steven - 2014

The External Balance Assessment (EBA) methodology has been developed by the IMF's Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing...

Persistent link: https://www.econbiz.de/10013059857

Systemic Banking Crises Revisited

Laeven, Luc - 2018

This paper updates the database on systemic banking crises presented in Laeven and Valencia (2008, 2013). Drawing on 151 systemic banking crises episodes around the globe during 1970-2017, the database includes information on crisis dates, policy responses to resolve banking crises, and the...

Persistent link: https://www.econbiz.de/10012909413

Rating the Rating Agencies : Anticipating Currency Crises or Debt Crises?

Sy, Amadou - 2021

In contrast to the early-warning system literature, we find that currency and debt crises are not closely linked in emerging markets. We find that after 1994, credit ratings predict debt crises but fail to anticipate currency crises. When debt crises are defined as sovereign distress-when...

Persistent link: https://www.econbiz.de/10013212322

Systemic Banking Crises Database : An Update

Laeven, Luc - 2012

We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of...

Persistent link: https://www.econbiz.de/10013098639

Exits from Pegged Regimes : An Empirical Analysis

Ötker, Inci; Duttagupta, Rupa - 2021

Using countries' de facto exchange rate regimes during 1985-2002, this paper analyzes the determinants of exits from pegged regimes, where exits involve shifts to more or less flexible regimes, or adjustments within the existing regime. Distinguishing episodes characterized by "exchange market...

Persistent link: https://www.econbiz.de/10013212330

Destabilizing Stability? Exchange Rate Arrangements and Foreign Currency Debt

Csonto, Balazs - 2021

Emerging markets (EMs) often respond to shocks by intervening in foreign exchange (FX) markets and thus preventing full exchange rate adjustment. This response can serve to dampen the effect of shocks and increase monetary policy space but may also incentivize economic participants to increase...

Persistent link: https://www.econbiz.de/10013315118

Going Viral : A Gravity Model of Infectious Diseases and Tourism Flows

Cevik, Serhan - 2020

This paper develops a gravity model framework to estimate the impact of infectious diseases on bilateral tourism flows … among 38,184 pairs of countries over the period 1995-2017. The results confirm that international tourism is adversely … tourism flows to advanced economies, the magnitude and statistical significance of the impact of infectious diseases are much …

Persistent link: https://www.econbiz.de/10012827591

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