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International Spillovers and Local Credit Cycles

Baskaya, Yusuf Soner - 2017

costs and an increase in local lending; (2) domestic banks more exposed to international capital markets transmit the GFC …

Persistent link: https://www.econbiz.de/10012963178

Does Capital Scarcity Matter?

Chari, Anusha - 2017

This paper quantifies the welfare impact of a permanent increase in the level of per capita income brought about by a temporary increase in the growth rate of GDP per capita following capital account liberalization. In the immediate aftermath of liberalization, and under a range of assumptions,...

Persistent link: https://www.econbiz.de/10012945626

International Finance and Growth in Developing Countries : What Have We Learned?

Obstfeld, Maurice - 2010

. The reforms developing countries need to institute to make their economies safe for international asset trade are the same …

Persistent link: https://www.econbiz.de/10012757922

Boom-Bust Capital Flow Cycles

Kaminsky, Graciela - 2019

This paper examines the new trends in research on capital flows fueled by the 2007-2009 Global Crisis. Previous studies on capital flows focused on current-account imbalances and net capital flows. The Global Crisis changed that. The onset of this crisis was preceded by a dramatic increase in...

Persistent link: https://www.econbiz.de/10012869219

Banking, Trade, and the Making of a Dominant Currency

Gopinath, Gita - 2018

We explore the interplay between trade invoicing patterns and the pricing of safe assets in different currencies. Our theory highlights the following points: 1) a currency's role as a unit of account for invoicing decisions is complementary to its role as a safe store of value; 2) this...

Persistent link: https://www.econbiz.de/10012922216

Keeping Capital Flowing : The Role of the IMF

Bordo, Michael D.; Mody, Ashoka; Oomes, Nienke - 2021

In this paper, we examine the IMF's role in maintaining the access of emerging market economies to international …

Persistent link: https://www.econbiz.de/10013216885

A Dual Liquidity Model for Emerging Markets

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021

The last few years have seen a significant re-evaluation of the models used to analyze crises in emerging markets. Recent models typically stress financial constraints or distorted financial incentives. While this certainly represents progress, these models share a weakness with the earlier...

Persistent link: https://www.econbiz.de/10013224671

Credit Market Imperfections in Middle Income Countries

Tornell, Aaron; Westermann, Frank - 2021

In this paper we document three credit market imperfections prevalent in middle income countries that can help explain the boom-bust cycles as well as other macroeconomic patterns observed at higher frequencies across these countries. These imperfections are: the existence of financing...

Persistent link: https://www.econbiz.de/10013248088

World Markets for Raising New Capital

Henderson, Brian J.; Jegadeesh, Narasimhan; Weisbach, … - 2022

. International debt issuances are substantially more common than equity, accounting for over 90% of the international security issues …, and about 20% of all public debt issues. In contrast, international equity issues account for about 4.4% of all … international security issues, and about 6% of all equity issues during our sample period. Market timing considerations appear to be …

Persistent link: https://www.econbiz.de/10013311907

Axiomatic and Economic Approaches to International Comparisons

Diewert, W. Erwin - 2010

index number formula. The great variation in relative prices and quantities in the international context means that the …

Persistent link: https://www.econbiz.de/10013137597