de jure trade openness is positively and significantly associated with takeoffs. A one standard deviation increase in de … jure trade openness is associated with a 55% increase in the probability of a takeoff in our default specification. We also … de facto trade openness, as well as a variety of other potential conditioning variables, are found to be poor predictors …

This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange …

This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange …

We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the …, effectively lowering its volatility. We also show that relatively small increases in the average holdings of reserves by Latin … alternative to fiscal or currency policies for relatively trade closed countries and economies with relatively poor institutions …

significant relationship between hot money and REER. -- Real exchange rate ; terms of trade ; international reserves ; volatility …This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange …

de jure trade openness is positively and significantly associated with takeoffs. A one standard deviation increase in de … jure trade openness is associated with a 55% increase in the probability of a takeoff in our default specification. We also … de facto trade openness, as well as a variety of other potential conditioning variables, are found to be poor predictors …

prediction of international trade is confirmed in the data: greater trade integration weakens the association between production …

prediction of international trade is confirmed in the data: greater trade integration weakens the association between production …

substantially REER volatility. -- Terms of trade ; the real exchange rate ; international reserves ; commodity price shocks …We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the …, effectively lowering its volatility. We also show that relatively small increases in the average holdings of reserves by Latin …

This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange …