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On the Fiscal Implications of Twin Crises
Burnside, Craig - 2001
inflation and depreciation rates. We use a first-generation type model of speculative attacks which has four key features: (i … the crises; (iii) a portion of the government's liabilities are not indexed to inflation; and (iv) there are nontradable … account for the high rates of devaluation and moderate rates of inflation often observed in the wake of currency crises. We …
Persistent link: https://www.econbiz.de/10012470447
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Sargent-Wallace Meets Krugman-Flood-Garber, or : Why Sovereign Debt Swaps Don't Avert Macroeconomic Crises
Aizenman, Joshua - 2002
as the manifestation of excessive monetary injections [Krugman-Flood-Garber], the fiscal theory of inflation [Sargent …
Persistent link: https://www.econbiz.de/10012469520
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Halting Inflation in Italy and France After World War II
Casella, Alessandra - 1991
In the aftermath of World War II, Italy and France experienced high inflation. The two countries enacted remarkably … decline. We conclude that inflation was symptomatic of an unresolved distributional conflict, and carne to an end when one …
Persistent link: https://www.econbiz.de/10012475141
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What Can Stockouts Tell Us About Inflation? Evidence from Online Micro Data
Cavallo, Alberto; Kryvtsov, Oleksiy - National Bureau of Economic Research - 2021
We use a detailed micro dataset on product availability to construct a direct high-frequency measure of consumer product shortages during the 2020-2021 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of...
Persistent link: https://www.econbiz.de/10012629429
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What caused the Asian currency and financial crisis?
Corsetti, Giancarlo; Pesenti, Paolo A.; Roubini, Nouriel - 1998
Persistent link: https://www.econbiz.de/10001350731
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The Distributional Impacts of Indonesia's Financial Crisis on Household Welfare : A "Rapid Response" Methodology
Friedman, Jed - 2001
. The ability of poor rural households to produce food mitigated the worst consequences of the high inflation. The …
Persistent link: https://www.econbiz.de/10012470154
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Exchange Rate Regimes, Capital Flows and Crisis Prevention
Edwards, Sebastian - 2001
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/10012470189
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Recovery and Sustainability in East Asia
Park, Yung Chul - 2001
This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The stylized pattern from the previous 160 currency crisis episodes over the period from 1970 to 1995 shows a V-type adjustment of real GDP growth in the years prior to and...
Persistent link: https://www.econbiz.de/10012470347
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A Cure Worse Than the Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs
Hutchison, Michael M. - 2001
This paper investigates the output effects of IMF-supported stabilization programs, especially those introduced at the time of a severe balance of payments/currency crisis. Using a panel data set over the 1975-97 period and covering 67 developing and emerging-market economies (with 461 IMF...
Persistent link: https://www.econbiz.de/10012470419
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The Role of Large Players in Currency Crises
Corsetti, Giancarlo - 2001
During recent episodes of financial turmoil some policy makers voiced concerns about aggressive, and possibly manipulative, practices by highly leveraged institutions in emerging markets. This paper addresses these concerns by reconsidering in detail, at both theoretical and empirical levels,...
Persistent link: https://www.econbiz.de/10012470421