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The East Asian Dollar Standard, Fear of Floating, and Original Sin

McKinnon, Ronald - 2007

Before the crisis of 1997-98, the East Asian economies except for Japan but including China pegged their currencies to the U.S. dollar. To avoid further turmoil, the IMF now argues that these currencies should float more freely. However, our econometric estimations show that the dollar's...

Persistent link: https://www.econbiz.de/10012729302

Sterilization Costs and Exchange Rate Targeting

Kletzer, Kenneth M. - 2008

This paper examines the movements of exchange rates and capital inflows in an environment where an optimizing central bank pursuing the joint goals of inflation and output targeting engages in costly sterilization activities. Our results predict that when faced with increased sterilization...

Persistent link: https://www.econbiz.de/10012722829

Four essays in the economics of banking and currency crises

Ho, Tai-kuang - 2003

Persistent link: https://www.econbiz.de/10001756795

Divisia monetary aggregates and economic activities in Asian developing economies

Habibullah, Muzafar Shah - 1999

Persistent link: https://www.econbiz.de/10001371719

Current-account imbalances, real exchange-rate misalignments, and output gaps

Camba-Crespo, Alfonso; García-Solanes, José; … - In: Economics : the open-access, open-assessment journal 16 (2022) 1, pp. 57-72

This study analyzes the relationships between domestic and foreign output gaps, current-account imbalances, and real effective exchange-rate (REER) misalignments. We first set up a theoretical framework based on the elasticities and absorption approaches of the balance of payments to derive and...

Persistent link: https://www.econbiz.de/10013252558

Financial Crises, Macroeconomic Shocks, and the Government Balance Sheet : A Panel Analysis

Ruzzante, Matteo - 2018

Government financial assets are increasingly recognized as playing an important role inassessing fiscal sustainability. However, very little research has been done on the dynamics ofgovernment financial assets compared to liabilities. In this paper, we investigate the impact ofrecent financial...

Persistent link: https://www.econbiz.de/10012918470

Predicting The Evolution and Effects of The Asia Crisis from The OECD Perspective

Richardson, Pete - 2000

Over the past two years, the key trading economies in SE Asia experienced major economic crises, involving financial … macroeconomic consequences of the Asia crisis and their predictability from the perspective of the OECD countries. In doing so it … examines some of the major aspects of the Asia crisis, its effects on the world situation and their predictability, assisted by …

Persistent link: https://www.econbiz.de/10012446386

Financial development, financial openness and trade openness : new evidence

Pham, Thi Hong Hanh - 2010

Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality...

Persistent link: https://www.econbiz.de/10011347747

Output losses from currency crises and the role of central bank

Yazdani, Mahdi; Nikzad, Mohammad - In: Journal of central banking theory and practice 10 (2021) 3, pp. 79-97

Generally, one of the important issues related to currency crises is the output losses caused by these phenomena. In this study, determinants of output losses and particularly the role of the central bank will be evaluated during currency crises. Moreover, the paper tries to investigate the...

Persistent link: https://www.econbiz.de/10012650906

The precise form of financial integration : empirical evidence for selected Asian countries

Gan, Pei-Tha - In: Economic modelling 42 (2014), pp. 208-219

Persistent link: https://www.econbiz.de/10010478178

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