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Dollarization of Liabilities : Underinsurance and Domestic Financial Underdevelopment
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
While there is still much disagreement on the causes underlying recent emerging markets' crises, one factor that most observers have agreed upon is that contracting "dollar" (foreign currency) denominated external debt - as opposed to domestic currency debt - created balance sheet mismatches...
Persistent link: https://www.econbiz.de/10014151417
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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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Excessive Dollar Debt : Financial Development and Underinsurance
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
We propose that the limited financial development of emerging markets is a significant factor behind the large share of dollar-denominated external debt present in these markets. We show that when financial constraints affect borrowing and lending between domestic agents, agents undervalue...
Persistent link: https://www.econbiz.de/10014118569
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Dollarization of liabilities : underinsurance and domestic financial underdevelopment
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2000
Persistent link: https://www.econbiz.de/10001557270
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Dollarization of liabilities : underinsurance and domestic financial underdevelopment
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2000
Persistent link: https://www.econbiz.de/10001493729
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Dollarization of Liabilities : Underinsurance and Domestic Financial Underdevelopment
Caballero, Ricardo J. - 2000
While there is still much disagreement on the causes underlying recent emerging markets' crises, one factor that most observers have agreed upon is that contracting dollar' (foreign currency) denominated external debt as opposed to domestic currency debt created balance sheet mismatches that led...
Persistent link: https://www.econbiz.de/10012470958
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Dollarization of Liabilities : Underinsurance and Domestic Financial Underdevelopment
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
While there is still much disagreement on the causes underlying recent emerging markets' crises, one factor that most observers have agreed upon is that contracting dollar' (foreign currency) denominated external debt as opposed to domestic currency debt created balance sheet mismatches that led...
Persistent link: https://www.econbiz.de/10013232892
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International Liquidity Illusion : On the Risks of Sterilization
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
instruments used in the sterilization are illiquid or result in fiscal deficits that reduce the liquidity of the private sector … country's international liquidity during the external crisis and reversal, as would be the case with a successful … sterilization, but just a decline in domestic private liquidity. The impact of the latter on relative asset prices creates a sort of …
Persistent link: https://www.econbiz.de/10014135711
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Global imbalances and policy wars at the zero lower bound
Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, … - In: The review of economic studies : RES 88 (2021) 6, pp. 2570-2621
Persistent link: https://www.econbiz.de/10012694457
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Contingent reserves management : an applied framework
Caballero, Ricardo J.; Panageas, Stavros - 2004
Persistent link: https://www.econbiz.de/10002343877