In fighting a financial crisis, opacity (keeping the names of banks borrowing at emergency lending facilities secret …

This paper provides an asymmetric information analysis of the recent East Asian crisis. It then outlines several … lessons from this crisis. First, there is a strong rationale for an international lender of last resort. Second, without … promote financial instability. Third, although capital flows did contribute to the crisis, they are a symptom rather than an …

The 1990s Sudden Stops in emerging markets were a harbinger for the 2008 global financial crisis. During Sudden Stops …

be largely stable through time, but capable of occasional dramatic change in response to a severe crisis. Legal origin …

Two observations suggest that financial globalization played an important role in the recent financial crisis. First …

1996 to 2011 period using exchange rate spot, forward, and option data, we obtain a real-time index of world disaster risk …

following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC … corporate balance sheet indicators have not deteriorated to AFC crisis-country levels. However, more countries are close to or … vulnerability for large firms during a crisis. Consistent with Gabaix (2011) the paper finds a granularity effect in that large …

fairly robust evidence that more foreign currency debt leads to a higher chance of having a debt crisis or a banking crisis … liabilities seems to be correlated with a lower likelihood of a debt crisis, currency crisis or a banking crisis. This strengthens …

having a debt crisis, currency crisis, or a banking crisis. A key finding is some countries do not suffer from great … exports relative to hard currency liabilities helps decrease the likelihood of a debt crisis, currency crisis or a banking … crisis. This strengthens the evidence for the hypothesis that foreign currency debt is dangerous when mis-managed. We discuss …