Showing 1 - 9 of 9
The unprecedented monetary policy stances in advanced economies (AEs) have had considerable implications on the global economy and, in particular, on most emerging market economies (EMEs). One such implication has been the significant bond flows that have entered and exited EMEs.Full...
Persistent link: https://www.econbiz.de/10012982404
The COVID-19 crisis has been, above all, a tragic public health crisis. It has entailed an enormous effort to respond to the demand for health services. In it, fiscal authorities have led the economic policy responses. For their part, central banks responded swiftly by easing their monetary...
Persistent link: https://www.econbiz.de/10013393387
In recent years the Bank of Mexico has made a series of rules-based interventions in the peso/dollar foreign exchange market. We assess the effectiveness of two specific interventions. These were the "Dollar auctions with minimum price", active between October 2008 and April 2010, and the...
Persistent link: https://www.econbiz.de/10010402559
In recent years the Bank of Mexico has made a series of rules-based interventions in the peso/dollar foreign exchange market. We assess the effectiveness of two specific interventions that occurred in periods of great stress for the Mexican economy. The aims of these two interventions were,...
Persistent link: https://www.econbiz.de/10010193235
There is an ongoing debate about austerity and stimulus in the Euro zone. Moreover, given the fiscal and financial problems in the region, a default has appeared likely at times. In this context, this paper develops a dynamic stochastic quantitative model of sovereign default with fiscal policy,...
Persistent link: https://www.econbiz.de/10010370901
Persistent link: https://www.econbiz.de/10002992410
Persistent link: https://www.econbiz.de/10003063945
Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...
Persistent link: https://www.econbiz.de/10013067067
Our aim is to explore the role of financial aid in a default episode. To that end, we develop a dynamic stochastic quantitative model of sovereign default featuring fiscal policy, endogenous financial aid and risk-averse foreign lenders. After calibrating the model, we feed output shocks into...
Persistent link: https://www.econbiz.de/10012029543