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The response speed of the International Monetary Fund
Mody, Ashoka; Saravia, Diego - 2013
The more severe a financial crisis, the greater has been the likelihood of its management under an IMF-supported programme and the shorter the time from crisis onset to programme initiation. Political links to the United States have increased programme likelihood but have prompted faster...
Persistent link: https://www.econbiz.de/10009768011
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Sovereign external borrowing and multilateral lending : dynamics and crises
Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2018
the World Bank (WB). Finally, we find evidence of synchronization between MDBs and IMF during fiscal crises. …
Persistent link: https://www.econbiz.de/10011959415
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The international consequences of Bretton Woods capital controls and the value of geopolitical stability
Ohanian, Lee E.; Van Patten, Diana; … - 2020
Persistent link: https://www.econbiz.de/10012308483
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Bretton Woods and the reconstruction of Europe
Ohanian, Lee E.; Van Patten, Diana; … - 2019
The Bretton Woods international financial system, which was in place from roughly 1949 to 1973, is the most significant modern policy experiment to attempt to simultaneously manage international payments, international capital flows, and international currency values. This paper uses an...
Persistent link: https://www.econbiz.de/10012138670
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China in tax havens
Clayton, Christopher; Santos, Amanda dos; Maggiori, Matteo - 2023
Persistent link: https://www.econbiz.de/10014246478
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Following public finances : the mirage of MDBs countercyclicality
Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2020
Fiscal policy and net capital inflows in developing countries are procyclical. A large amount of literature has examined this phenomenon and explored its consequences for aggregate fluctuations. Multilateral development banks (MDBs) are an important source of external finance for governments and...
Persistent link: https://www.econbiz.de/10012238386
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International credit markets and global business cycles
Pintus, Patrick A.; Wen, Yi; Xin, Xiaochuan - 2018 - This version: May 14, 2018
subject to self-fulfilling variations in the world real interest rate. Those expectation-driven changes in the borrowing cost … asset prices, GDP, consumption, investment and employment). When firms around the world benefit from unexpectedly low debt … internationally. Such a stylized model thus offers one way to rationalize both the existence of world business-cycle factor documented …
Persistent link: https://www.econbiz.de/10011911509
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External crisis vulnerability in Latin America and the Caribbean
Cavallo, Eduardo A.; Fernández Arias, Eduardo - 2023
This paper assesses the vulnerability of Latin American and Caribbean (LAC) economies to external crises. It shows that while the average LAC economy has made significant strides to reduce vulnerability to crises to its historical minimum, there is still considerable room for improvement,...
Persistent link: https://www.econbiz.de/10014536612
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Multilateral safety nets for financial crises
Fernández Arias, Eduardo - 2010
There is an increasing need for a system of international lending of last resort (ILLR) to provide a safety net in the event of financial crises in vulnerable countries as financial globalization deepens and spreads. Multilateral progress to address liquidity and solvency crises has been patchy...
Persistent link: https://www.econbiz.de/10010246568
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Policy interventions in sovereign debt restructurings
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2019
The wave of sovereign defaults in the early 1980s and the string of debt crises in the decades that followed have fostered proposals involving policy interventions in sovereign debt restructurings. A key question about these proposals that has proved hard to handle is how they in influence the...
Persistent link: https://www.econbiz.de/10012139015