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Corporate financial policies and performance around currency crises

Bris, Arturo; Koskinen, Yrjö; Pons, Vicente - 2001

Using data from 17 countries that have suffered a currency crisis, this paper studies firm-level leverage and performance measures before and after a crisis has occurred. We show that in the years preceding a currency crisis, companies that are expected to benefit from currency depreciations...

Persistent link: https://www.econbiz.de/10010281399

Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtue

McKinnon, Ronald I. - The MIT Press

threatened trade sanctions if they do not. Analyzing interactions among the East Asian economies, McKinnon explains the rationale … collective action by national governments and considers the effect of American monetary and trade policies on the East Asian …

Persistent link: https://www.econbiz.de/10005237372

Prospects for Monetary Cooperation and Integration in East Asia

Volz, Ulrich - The MIT Press

East Asian countries were notably uninterested in regional monetary integration until the late 1990s, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the...

Persistent link: https://www.econbiz.de/10008632720

Dollar and Yen: Resolving Economic Conflict between the United States and Japan

McKinnon, Ronald I.; Ohno, Kenichi - The MIT Press

exchange rate economics. The authors argue against the prevailing view that the trade imbalance should be corrected by dollar … dichotomy between international trade and international finance, they link the yen's tremendous appreciation from 1971 to mid …-1995 to mercantile pressure from the United States arising from trade tensions between the two countries. Although …

Persistent link: https://www.econbiz.de/10004973013

Economic Effects of the Government Budget

Helpman, Elhanan (contributor); Razin, Assaf (contributor); … - The MIT Press

The effects of a government's budget on society and the political economy are of considerable concern to economists as well as to consumers and taxpayers. The original contributions in this book analyze all of the budget's components expenditures, revenues, the deficit - with a special emphasis...

Persistent link: https://www.econbiz.de/10004973057

Real-Financial Linkages among Open Economies

Arndt, Sven W. (contributor); … - The MIT Press

theoretical and empirical work in international finance and in international trade. This book is unique in attempting to link … consider long-run exchange rate variability and international trade. …

Persistent link: https://www.econbiz.de/10004973111

Money, Exchange Rates, and Output

Calvo, Guillermo A. - The MIT Press

macroeconomic consequences of credibility problems. He also shows how monetary and trade theory can fail when the public does not …

Persistent link: https://www.econbiz.de/10004973149

On Exchange Rates

Frankel, Jeffrey A. - The MIT Press

These seventeen essays provide an accessible and thorough reference for understanding the role of exchange rates in the international monetary system since 1973, when the rates were allowed to float. The essays analyze such issues as exchange rate movements, exchange risk premia, investor...

Persistent link: https://www.econbiz.de/10004973165

Exchange Rates and Inflation

Dornbusch, Rudiger - The MIT Press

Rudiger Dornbusch's articles on exchange rates and open economy macroeconomics are among the most frequently cited in the field of international economics. Collected for the first time in Exchange Rates and Inflation, twenty-two of these articles, written between 1973 and 1987, are gathered in...

Persistent link: https://www.econbiz.de/10004973207

Exchange Rate Management under Uncertainty

Bhandari, Jagdeep S. (contributor) - The MIT Press

These twelve essays take up economic management under flexible exchange rates in the presence of uncertainty. Nearly all of the contributions adopt a rational expectations framework, focusing on the stochastic aspects of the assumption and exploring the variability of, for example, output and...

Persistent link: https://www.econbiz.de/10004973276