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Policies for Macrofinancial Stability; How to Deal with Credit Booms

Bakker, Bas B.; Dell'Ariccia, Giovanni; Laeven, Luc; … - International Monetary Fund (IMF) - 2012

This note explores the costs and benefits of different policy options to reduce the risks associated with credit booms, drawing upon several country experiences and the findings from econometric analysis.

Persistent link: https://www.econbiz.de/10011245891

Crisis Management and Resolution; Early Lessons from the Financial Crisis

Pazarbasioglu, Ceyla; Laeven, Luc; Nedelescu, Oana M.; … - International Monetary Fund (IMF) - 2011

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

Persistent link: https://www.econbiz.de/10011245897

An Anatomy of Credit Booms; Evidence From Macro Aggregates and Micro Data

Terrones, Marco; Mendoza, Enrique G. - International Monetary Fund (IMF) - 2008

We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...

Persistent link: https://www.econbiz.de/10005263687

Managing Financial Crises; Recent Experience and Lessons for Latin America

Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003

This paper seeks to draw lessons from the IMFâ€™s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...

Persistent link: https://www.econbiz.de/10005824823

Trade and Financial Contagion in Currency Crises

Salgado, Ranil; Ricci, Luca Antonio; Caramazza, Francesco - International Monetary Fund (IMF) - 2000

This paper investigates empirically the relevance of external, domestic, and financial weaknesses as well as trade and financial linkages in inducing financial crises for a sample of 61 emerging market and industrial countries. A panel probit estimation finds these economic indicators to be...

Persistent link: https://www.econbiz.de/10005769104

Spillovers Through Banking Centers; A Panel Data Analysis

International Monetary Fund (IMF); International … - 2000

To test the role of bank lending in transmitting currency crisis we examine a panel of BIS data on bank flows to 30 emerging markets disaggregated by 11 banking centers. We find that bank exposures to a crisis country help predict bank flows in third countries after the Mexican and Asian crisis,...

Persistent link: https://www.econbiz.de/10005599548

Did Output Recover From the Asian Crisis?

Cerra, Valerie; Saxena, Sweta Chaman - International Monetary Fund (IMF) - 2003

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...

Persistent link: https://www.econbiz.de/10005604941

Financial Crises Explanations, Types, and Implications

Claessens, Stijn; Kose, M. Ayhan - International Monetary Fund (IMF) - 2013

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper...

Persistent link: https://www.econbiz.de/10011123845

Eurozone Crisis

Loužek, Marek - In: Prague Economic Papers 2015 (2015) 1, pp. 88-104

The purpose of the paper is to analyse the current crisis of the eurozone. The first part explains why the eurozone is … examines the Greek crisis. The fourth part explains the inner tensions in the eurozone. The fifth part asks whether euro is … suitable for the countries of Central and East Europe. The sixth part examines the debt crisis within the eurozone. …

Persistent link: https://www.econbiz.de/10011213846

The political economy of the Euro crisis: Cognitive biases, faulty mental models, and time inconsistency

Willett, Thomas D.; Srisorn, Nancy - In: Journal of Economics and Business 76 (2014) C, pp. 39-54

This paper discusses a number of major factors that led to the euro crisis and the failure of officials to deal with it effectively. It is argued that a good deal of these deficiencies in policy can be explained by a combination of faulty mental models, time-inconsistency problems, and cognitive...

Persistent link: https://www.econbiz.de/10011118217

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