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A Dual Liquidity Model for Emerging Markets
Caballero, Ricardo J. - 2002
emerging economy, and those affecting borrowing from foreign lenders. This 'dual liquidity' model offers a parsimonious …
Persistent link: https://www.econbiz.de/10012469957
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A Global Equilibrium Model of Sudden Stops and External Liquidity Management
Caballero, Ricardo J.; Panageas, Stavros - 2008
Emerging market economies, which have much of their growth ahead of them, either run or should run persistent current account deficits in order to smooth consumption intertemporally. The counterpart of these deficits is their dependence on capital inflows, which can suddenly stop. We make two...
Persistent link: https://www.econbiz.de/10014219484
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International Liquidity Management : Sterilization Policy in Illiquid Financial Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10014155474
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A Quantitative Model of Sudden Stops and External Liquidity Management
Caballero, Ricardo J.; Panageas, Stavros - 2005
-emerging-market-specific) assets that are correlated to sudden stops. We show an example of such an asset based on the S&P 500's implied volatility … liquidity and liability management more generally …
Persistent link: https://www.econbiz.de/10014065667
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Fiscal Policy and Financial Depth
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2004
Most economists and observers place the lack of fiscal discipline at the core of the recent Argentine crisis. This begs the question of how countries like Belgium or Italy (pre-Maastricht) could run large fiscal deficits and accumulate debts far beyond those of Argentina, without experiencing...
Persistent link: https://www.econbiz.de/10014071655
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Fire Sales in a Model of Complexity
Caballero, Ricardo J. - 2009
Financial assets provide return and liquidity services to their holders. However, during severe financial crises many … asset prices plummet, destroying their liquidity provision function at the worst possible time. In this paper we present a … not control or understand. The liquidity of the market quickly vanishes and a financial crisis ensues. The model exhibits …
Persistent link: https://www.econbiz.de/10013155022
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A Dual Liquidity Model for Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
emerging economy, and those affecting borrowing from foreign lenders. This 'dual liquidity' model offers a parsimonious …
Persistent link: https://www.econbiz.de/10013224671
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A Quantitative Model of Sudden Stops and External Liquidity Management
Caballero, Ricardo J.; Panageas, Stavros - 2021
-emerging-market-specific) assets that are correlated to sudden stops. We show an example of such an asset based on the S&P 500's implied volatility … liquidity and liability management more generally …
Persistent link: https://www.econbiz.de/10013228758
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Fiscal Policy and Financial Depth
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
Most economists and observers place the lack of fiscal discipline at the core of the recent Argentine crisis. This begs the question of how countries like Belgium or Italy (pre-Maastricht) could run large fiscal deficits and accumulate debts far beyond those of Argentina, without experiencing...
Persistent link: https://www.econbiz.de/10013233772
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International Liquidity Management : Sterilization Policy in Illiquid Financial Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10013245510