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Capital Flows, Cross-Border Banking and Global Liquidity
Bruno, Valentina - 2013
We investigate global factors associated with cross-border capital flows. We formulate a model of gross capital flows through the international banking system and derive a closed form solution that highlights the leverage cycle of global banks as being a prime determinant of the transmission of...
Persistent link: https://www.econbiz.de/10013082151
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International Liquidity Management : Sterilization Policy in Illiquid Financial Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10013245510
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A Quantitative Model of Sudden Stops and External Liquidity Management
Caballero, Ricardo J.; Panageas, Stavros - 2021
liquidity and liability management more generally …
Persistent link: https://www.econbiz.de/10013228758
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Capital Flows, Push Versus Pull Factors and the Global Financial Crisis
Fratzscher, Marcel - 2011
finds that common shocks - key crisis events as well as changes to global liquidity and risk - have exerted a large effect …
Persistent link: https://www.econbiz.de/10013121029
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A Brazilian Debt-Crisis
Razin, Assaf; Sadka, Efraim - 2021
We develop a stylised model of multiple equilibria, with country risk spreads at the focus of the analysis. Fears that the country default on its debt triggers a reversal in the direction of inflows of international financial capital raise interest-rate spreads and thus the cost of servicing the...
Persistent link: https://www.econbiz.de/10013219683
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Liquidity, Institutional Quality and the Composition of International Equity Flows
Goldstein, Itay - 2010
liquidity shocks, the liquidation price they can get will be lower when buyers know that they have more information on … expectation of future liquidity problems export relatively more FPI than FDI, and (2) this effect strengthens as the source … source countries from 1985 to 2004. Our key variable is the predicted severity of liquidity shock, as proxied by episodes of …
Persistent link: https://www.econbiz.de/10013148094
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A Brazilian Debt-Crisis Model
Razin, Assaf; Sadka, Efraim - 2021
We develop a model that captures important features of debt crises of the Brazilian type. Its applicability to Brazil lies in the fact that (1) in Brazil the macro fundamentals were sound (e.g., a primary surplus, a relatively low debt/GDP ratio, etc.); and (2) in the Brazilian case the trigger...
Persistent link: https://www.econbiz.de/10013244094
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Financial Integration, Liquidity and Exchange Rates
Grilli, Vittorio; Roubini, Nouriel - 2021
: a greater share will correspond to a more appreciated exchange rate. Second, under uncertainty, liquidity effects …
Persistent link: https://www.econbiz.de/10013311887
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Capital Flows and the Risk-Taking Channel of Monetary Policy
Bruno, Valentina - 2013
We study the dynamics linking monetary policy with bank leverage and show that adjustments in leverage act as the linchpin in the monetary transmission mechanism that works through fluctuations in risk-taking. Motivated by the evidence, we formulate a model of the "risk-taking channel" of...
Persistent link: https://www.econbiz.de/10013083802
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Capital Flows, Credit Booms, and Financial Crises in the Classical Gold Standard Era
Meissner, Christopher M. - 2013
The classical gold standard period, 1880-1913, witnessed deep economic integration. High capital imports were related to better growth performance but may also have created greater volatility via financial crises. I first document the substantial output losses from various types of crises. I...
Persistent link: https://www.econbiz.de/10013086667