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Bubbles and Capital Flow Volatility: Causes and Risk Management

Caballero, Ricardo J; Krishnamurthy, Arvind - National Bureau of Economic Research (NBER) - 2005

liquidity requirements, sterilization of capital inflows and structural policies aimed at developing public debt markets …

Persistent link: https://www.econbiz.de/10005778011

Bubbles and Capital Flow Volatility : Causes and Risk Management

Caballero, Ricardo J. - 2005

liquidity requirements, sterilization of capital inflows and structural policies aimed at developing public debt markets quot …

Persistent link: https://www.econbiz.de/10012736084

A Dual Liquidity Model for Emerging Markets

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003

The last few years have seen a significant re-evaluation of the models used to analyze crises in emerging markets. Recent models typically stress financial constraints or distorted financial incentives. While this certainly represents progress, these models share a weakness with the earlier...

Persistent link: https://www.econbiz.de/10014121253

A Dual Liquidity Model for Emerging Markets

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2002

Persistent link: https://www.econbiz.de/10014110704

Exchange Rate Volatility and the Credit Channel in the Emerging Markets : A Vertical Perspective

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2004

Firms in emerging markets are exposed to severe financial frictions and credit constraints, that are exacerbated by the sudden stop of capital inflows. Can monetary policy offset this external credit squeeze? We show that although this may be the case during moderate contractions (or in partial...

Persistent link: https://www.econbiz.de/10014071372

Dollarization of Liabilities : Underinsurance and Domestic Financial Underdevelopment

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003

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 to bankruptcies and dislocations that amplified downturns. Much of … debt. Yet there has been little systematic inquiry into why companies must or choose to take on dollar debt. In this paper …

Persistent link: https://www.econbiz.de/10014151417

Efficient Credit Policies in a Housing Debt Crisis

Eberly, Janice; Krishnamurthy, Arvind - In: Brookings Papers on Economic Activity 49 (2014) 2 (Fall), pp. 73-136

Persistent link: https://www.econbiz.de/10011227977

Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective

Caballero, Ricardo; Krishnamurthy, Arvind - In: International Journal of Central Banking 1 (2005) 1

Firms in emerging markets are exposed to severe financial frictions and credit constraints that are exacerbated by the sudden stop of capital inflows. Can monetary policy offset this external credit squeeze? We show that although this may be the case during moderate contractions (or in partial...

Persistent link: https://www.econbiz.de/10005258512

A 'Vertical' Analysis of Monetary Policy in Emerging Markets

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003

During emerging market crises, domestic agents might have sufficient collateral to borrow from the other domestic agents, but they are unable to borrow from foreigners because the country, as a whole, lacks international collateral. In this setting, we show that an (ex-post) optimizing central...

Persistent link: https://www.econbiz.de/10014118568

Inflation Targets and Sudden Stops

Caballero, Ricardo J. - 2003

Emerging economies experience sudden stops in capital inflows. As we have argued in Caballero and Krishnamurthy (2002), having access to monetary policy during these sudden stops is useful, but mostly for quot;insurancequot; rather than for aggregate demand reasons. In this environment, a...

Persistent link: https://www.econbiz.de/10012740018