We show that macroprudential regulation can considerably dampen the impact of globalfinancial shocks on emerging … markets. More specifically, a tighter level of regulation reducesthe sensitivity of GDP growth to VIX movements and capital … andliquidity, foreign currency mismatches, and risky forms of credit. We also find that tightermacroprudential regulation allows …

foreign debt; however, high levels of this debt reduces countercyclicality to mercantilist concerns. Higher exchange rate pass …-through to export prices, and having an inflation targeting regime with non-freely floating exchange rates, increase …

We construct a new, comprehensive instrument-level database of sovereign debt for 18 advanced and emerging countries … over the period 1913-46. The database contains data on amounts outstanding for some 3,800 individual debt instruments as … notoriously high debt levels. We document how interwar governments rolled over debts that were largely unsustainable and how the …

This paper focuses on the debt build-up that frontier low-income developing countries (LIDCs) have faced since 2012 …. First, it documents a 20-percentage point increase in the external and government debt-to-GDP ratios, a composition shift … toward higher non-concessional debt, and a rise in interest rate payments. Second, using panel regressions, it shows that …

shocks than the usual filtering techniques. It also produces smaller out-of-sample forecast errors for inflation. At the same …