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Exchange Controls As A Fiscal Instrument
Schmitt-Grohé, Stephanie; Uribe, Martín - National Bureau of Economic Research - 2023
creation and exchange controls. We calibrate the model to Argentina, which over the past decade has experienced significant …
Persistent link: https://www.econbiz.de/10014322682
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The Exchange Value of the Renminbi and China's Balance of Trade : An Emp irical Study
Zhang, Zhaoyong - 1996
This paper aims at assessing the relationship between the exchange value of the Chinese Renminbi (RMG) and China's trade balance by means of some recent econometric techniques designed to evaluate the existence and the direction of causality. We find strong evidence suggesting that changes in...
Persistent link: https://www.econbiz.de/10012473063
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Preemptive Policies and Risk-Off Shocks in Emerging Markets
Das, Mitali; Gopinath, Gita; Kalemli-Ozcan, Sebnem - National Bureau of Economic Research - 2021
We show that "preemptive" capital flow management measures (CFM) can reduce emerging markets and developing countries' (EMDE) external finance premia during risk-off shocks, especially for vulnerable countries. Using a panel dataset of 56 EMDEs during 1996-2020 at monthly frequency, we document...
Persistent link: https://www.econbiz.de/10012794642
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Exchange Controls, Capital Controls, and International Financial Markets
Stockman, Alan C. - 1985
This paper examines the effects of restrictions on international financial markets. We analyze a general equilibrium, rational expectations model of a two-country world in which well-functioning international financial markets premit trade in all state-contingent securities except insofar as...
Persistent link: https://www.econbiz.de/10012477324
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Exchange Controls, Devaluations and Real Exchange Rates : The Latin American Experience
Edwards, Sebastian - 1987
This paper deals with the anatomy of devaluation in Latin America. In an effort to understand the economics surrounding the causes and consequences of exchange rate crises, eighteen devaluation episodes that took place between 1962 and 1982 are investigated in detail. The paper focuses on: (1)...
Persistent link: https://www.econbiz.de/10012476720
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Interest Rates, Contagion and Capital Controls
Edwards, Sebastian - 2000
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/10012470949
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Macroeconomic Volatility in Latin America : A View and Three Case Studies
Caballero, Ricardo J. - 2000
better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile and …
Persistent link: https://www.econbiz.de/10012470968
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Can Emerging Market Bank Regulators Establish Credible Discipline? The Case of Argentina, 1992-1999
Calomiris, Charles W. - 2000
In the early 1990s, after decades of high inflation and financial repression, Argentina embarked on a course of … banking system during the liberalization process. Argentina suffered some fallout from the Mexican tequila crisis of 1995, but … discipline after the crisis made Argentina's banking system quite resilient during the Asian, Russian, and Brazilian crises …
Persistent link: https://www.econbiz.de/10012471046
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Foreign and Domestic Bank Participation in Emerging Markets : Lessons from Mexico and Argentina
Goldberg, Linda - 2000
studying bank-specific data on lending by domestically- and foreign-owned banks in Argentina and Mexico. We find that foreign … credit growth during crisis periods. In Argentina, the loan portfolios of foreign and domestic privately-owned banks are … lower levels of impaired assets have similar loan responsiveness and portfolios. State-owned banks (Argentina) and banks …
Persistent link: https://www.econbiz.de/10012471047
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Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime
Paolera, Gerardo della - 2000
This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made …-standard orthodoxy after the final suspension of convertibility in 1929. As elsewhere, fiscal policy in Argentina was conservative, and …
Persistent link: https://www.econbiz.de/10012471138