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A second-generation model of currency crises is combined with a standard model ofbanks as providers of insurance against liquidity risk. In a pegged exchange rateregime, after funds have been committed to the banks, news arrives about the qualityof the banks’ assets and about the exchange rate...
Persistent link: https://www.econbiz.de/10005868800
[...]In our view, this apparently surprising immunity of the U.S.economy to the Asia crisis reflects the fact that the original wayof thinking about the crisis was flawed. First, it focused only ondemand-side channels and ignored the supply side. Second, thedepreciation of the Asian currencies...
Persistent link: https://www.econbiz.de/10005869933
-round integration of two economies. Empirically, such a constellation is found between Australia and New Zealand, whereas diverging … trends in money and interest rates characterise the relation of Australia towards the US. …
Persistent link: https://www.econbiz.de/10005861005
Australien dar. Außerdem wird eine erste Analyse der Erfahrungen vor dem theoretischenHintergrund der Neuen Institutionenökonomik …
Persistent link: https://www.econbiz.de/10005843660
, we account for changes to Australia’s pigmeat quarantinepolicy over time including those changes related to the recent … resolution of a WTO disputebetween Australia and the European Union. Using a random utility model, and applying it tocorner … regimes implemented by Australia during the period 1988-2009. The welfare impact on consumers, producers, and foreign …
Persistent link: https://www.econbiz.de/10009360665
internationalen Flughäfen für Januar 2001 dar. …
Persistent link: https://www.econbiz.de/10005848124
This paper explains a currency crisis as an outcome of a switch in how monetarypolicy and fiscal policy are coordinated. The paper develops a model of an open economy in which monetary policy starts active, fiscal policy starts passive and, in a particular state of nature, monetary policy...
Persistent link: https://www.econbiz.de/10005861630
The objective of this paper is to implement a prototype of a currency crisis modelas part of an early warning system framework for Uganda. The financial systemsof developing countries like Uganda are especially vulnerable and therefore robustinstruments to predict crises are needed. Our model is...
Persistent link: https://www.econbiz.de/10005865806
In currency crises, unlike in orderly devaluations, the financial markets dominateevents. It is shown that currency collapses (crises followed by depreciations) have hada much greater adverse impact in emerging markets (defined as relatively highincomedeveloping countries exposed to...
Persistent link: https://www.econbiz.de/10005868940
Stellt sich das Investitionsklima für deutsche Unternehmen seit der Krise von 1997/98 in Korea tatsächlich so positiv dar, wie Medienberichte und Wirtschaftszahlen suggerieren oder ist die Entwicklung möglicherweise nur auf einige wenige "Großeinkäufe" deutscher Großunternehmen...
Persistent link: https://www.econbiz.de/10005841460