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Currency crises, generally defined as rapid depreciation of a local currency or loss of foreign exchange reserves, are common incidents in modern monetary systems. Due to their repeated occurrence and severity, they have earned wide coverage by both theoretical and empirical literature. However,...
Persistent link: https://www.econbiz.de/10011259158
Iceland experienced a significant financial meltdown and subsequent economic downturn after the 2008/2009 financial crisis struck the country. It had been the worst crisis ever experienced by a small country from the late 20th century onwards. Since 1980s, Iceland's macroeconomic stability had...
Persistent link: https://www.econbiz.de/10008919755
This paper investigates the dynamic implications of Krugman’s (1999) model of financial crises with balance-sheet effects, which has a considerable impact on the literature as well as the teaching of international financial crisis. By explicitly taking account of wealth accumulation and...
Persistent link: https://www.econbiz.de/10008529247
The authors turn to the large family of institutions that came into existence in post-Soviet Eurasia (and, in some ways, beyond it) over the last two decades. The researchers review their current state, agenda, real and perceived mandate, and their respective achievements and constraints. The...
Persistent link: https://www.econbiz.de/10014118027
The relationship between the US and Asia will be the single biggest determinant in the evolution of the global economic … regional blocs. Asia holds the key, combining both dissatisfaction with existing global arrangements with the resources to … reconstitute, at least at the regional level, an alternative set of institutions and practices. How Asia responds will partly …
Persistent link: https://www.econbiz.de/10005025699
The paper focuses on empirical analysis of major factors that determine innovation activities of Russian manufacturing firms during the crisis. We presume that the crisis has ambiguous effects on firms' behaviour, on one hand limiting their financial capabilities to invest into new products...
Persistent link: https://www.econbiz.de/10013082604
daily clearing of the FX market. This paper estimates an FX intervention function for Barbados using a dynamic complementary … log-log model. Three general findings emerged: (i) dynamics play an important role in the Central Bank’s intervention … function, meaning that the probability that an intervention takes place today is conditional upon an intervention taking place …
Persistent link: https://www.econbiz.de/10011260015
This paper intends to present a methodology that foresees anticipated signal of intervention in the foreign exchange … macroeconomic fundamentals and would require the intervention in the foreign exchange market by the monetary authority. …
Persistent link: https://www.econbiz.de/10011191497
excess reserves, which may guide domestic money market intervention. Monetary survey data for the period 1st June 2011 – 13th … rate movements, even though a Granger causality test shows that in the absence of money market intervention, the level of … from Central Bank intervention to the target interbank rate, but no correlation between the two. Furthermore, there is no …
Persistent link: https://www.econbiz.de/10011111546
understanding of economic concepts and that the attitudes of at-risk students can be altered but may require additional intervention. …
Persistent link: https://www.econbiz.de/10011112701