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Regional Financial Interlinkages and Financial Contagion within Europe

Ötker, Inci - 2009

This paper focuses on financial interlinkages within Europe and potential contagion channeled through these … channels of contagion through financial linkages; and assesses the magnitude of cross-border exposures between emerging and … regional contagion that could help identify the likely pressure points and capture potential spillover effects and propagation …

Persistent link: https://www.econbiz.de/10014404299

Modeling with Macro-Financial Linkages : Credit and Policy Shocks in Emerging Markets

Benes, Jaromir - 2009

This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated...

Persistent link: https://www.econbiz.de/10014402486

Important Elements for Inflation Targeting for Emerging Economies

Ötker, Inci - 2010

This is the fifth chapter of a forthcoming monograph entitled ""On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say."" It examines whether certain conditions have to be met before emerging economies can adopt an inflation-targeting regime and...

Persistent link: https://www.econbiz.de/10014402797

The International Lender of Last Resort : How Large is Large Enought?

Jeanne, Olivier - 2001

This paper considers how an international lender of last resort (LOLR) can prevent self-fulfilling banking and currency crises in emerging economies. We compare two different arrangements: one in which the international LOLR injects liquidity into international financial markets, and one in...

Persistent link: https://www.econbiz.de/10014403614

Why Do Emerging Economies Borrow in Foreign Currency?

Jeanne, Olivier - 2003

This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency composition of their debts so as to minimize their probability of default. Decreasing...

Persistent link: https://www.econbiz.de/10014403679

The Optimal Level of International Reserves for Emerging Market Countries : Formulas and Applications

Ranciere, Romain - 2006

We present a model of the optimal level of international reserves for a small open economy that is vulnerable to sudden stops in capital flows. Reserves allow the country to smooth domestic absorption in response to sudden stops, but yield a lower return than the interest rate on the country''s...

Persistent link: https://www.econbiz.de/10014399870

Original Sin, Balance Sheet Crises, and the Roles of International Lending

Zettelmeyer, Jeromin - 2002

We present a stylized framework which encompasses a variety of ""balance sheet approaches"" to currency crises that have been suggested in the literature, and analyze their policy implications. The common theme is that currency and maturity mismatches in private sector balance sheets constrain...

Persistent link: https://www.econbiz.de/10014401374

Government Debt in Emerging Market Countries : A New Data Set

Guscina, Anastasia - 2006

This paper presents a new database on government debt in 19 emerging market countries since 1980. The data set focuses on the structure of debt in terms of jurisdiction of insurance, maturity, currency composition and indexation. The paper presents stylized facts on debt structures and...

Persistent link: https://www.econbiz.de/10014402299

Inflation Pressures and Monetary Policy Options in Emerging and Developing Countries : A Cross Regional Perspective

Ötker, Inci - 2009

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of...

Persistent link: https://www.econbiz.de/10014402575