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Banks and Macroeconomics Disturbances Under Predetermined Exchange Rates
Edwards, Sebastian - 2006
evidence for Chile and Mexico supports the main predictions of the model …
Persistent link: https://www.econbiz.de/10012783972
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Credit, Prices, and Crashes : Business Cycles with a Sudden Stop
Mendoza, Enrique G. - 2001
The 1990s emerging-markets crises were characterized by sudden reversals in inflows of foreign capital followed by unusually large declines in current account deficits, private expenditures, production, and prices of nontradable goods relative to tradables. This paper shows that these Sudden...
Persistent link: https://www.econbiz.de/10012787676
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Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate
Kehoe, Timothy J. - 2010
the Mexican economy, and use it to analyze Mexico's 1994-95 crisis. When subjected to a sudden stop, the model accounts …
Persistent link: https://www.econbiz.de/10012758295
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Capital Mobility and the Scope for Sterilization : Mexico in the 1970s
Cumby, Robert E. - 2010
This paper is an empirical study of the Banco de Mexico's monetary policy during the 1970s. In particular, it studies … de Mexico reaction function suggest that the Mexican central bank attempted to sterilize reserve flows through offsetting … coefficients indicate that the Banco de Mexico's monetary control was exercised at a substantial cost in terms of reserve …
Persistent link: https://www.econbiz.de/10012763023
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Interest Rates, Contagion and Capital Controls
Edwards, Sebastian - 2021
In this paper I analyze several issues related to contagion,' including its definition, recent experiences, alternative channels at work, and possible prevention mechanisms. The discussion deals with the macroeconomics implications of contagion, and concentrates on the relationship between the...
Persistent link: https://www.econbiz.de/10013231414
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Exchange Rate Regimes, Capital Flows and Crisis Prevention
Edwards, Sebastian - 2021
In this paper I analyze, within the context of the new 'financial architecture,' the relationship between exchange rate regimes, capital flows and currency crises in emerging economies. The paper draws on lessons learned during the 1990s, and deals with some of the most important policy...
Persistent link: https://www.econbiz.de/10013231996
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Capital Controls : Myth and Reality - a Portfolio Balance Approach
Magud, Nicolás E. - 2011
The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze the macroeconomic consequences of controls; (ii) there is significant heterogeneity across countries and time in the control measures...
Persistent link: https://www.econbiz.de/10013129216
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Tax Competition and Migration : The Race-to-The-Bottom Hypothesis Revisited
Razin, Assaf - 2011
Oates reminds us that tax competition among localities in the presence of capital mobility, may lead to inefficiently low tax rates (and benefits). In contrast, the Tiebout paradigm suggests that tax competition yields an efficient outcome, so that there are no gains from tax coordination. This...
Persistent link: https://www.econbiz.de/10013131671
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Rethinking the Effects of Financial Liberalization
Broner, Fernando - 2011
During the last few decades, many emerging markets have lifted restrictions on cross-border financial transactions. The conventional view was that this would allow these countries to: (i) receive capital inflows from advanced countries that would finance higher investment and growth; (ii) insure...
Persistent link: https://www.econbiz.de/10013132044
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Financial Openness, Sudden Stops and Current Account Reversals
Edwards, Sebastian - 2011
In this paper I use a panel data set to investigate the mechanics of sudden stops of capital inflows and current account reversals. I am particularly interested in four questions: (a) What is the relationship between sudden stops and current account reversals? (b) To what extent does financial...
Persistent link: https://www.econbiz.de/10013133169