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Blueprint for an International Lender of Last Resort

Lerrick, Adam; Meltzer, Allan H. - 2001

This paper proposes a low cost alternative to the large bailout packages that the International Monetary Fund (IMF) has organized to address financial crises. The IMF would act as a lender of last resort. Faced with an unsustainable debt burden, a government would declare default. It would...

Persistent link: https://www.econbiz.de/10009441288

Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis

Auguste, Sebastian; Dominguez, Kathryn M. E.; Kamil, Herman - 2002

This paper examines the surprising performance of the Argentine stock market in the midst of the country’s most recent financial crisis and the role played by ADRs in Argentine capital flight. Although Argentine investors were subject to capital controls, they were able to purchase stocks with...

Persistent link: https://www.econbiz.de/10009477174

Are Financial Crises Indeed “Crises?” Evidence from the Emerging ADR Market

Pasquariello, Paolo - 2005

The recent episodes of financial turmoil in Mexico, East Asia, Russia, Brazil, and Argentina are often dubbed financial crises. However, the severe downturns in equity markets, abrupt currency devaluations, and massive capital flight that characterize these events can still be deemed compatible...

Persistent link: https://www.econbiz.de/10009477277

Financial Institutions, Contagious Risks, and Financial Crises

Huang, Haizhou; Xu, Chenggang - 2001

In this paper contagious risks and financial crises are endogenized through the interactions among corporations, banks … leads to timely information disclosure from firms to banks and improves the informational environment of the interbank … market. With symmetric information in the interbank market, bank runs are contained to insolvent banks and financial crises …

Persistent link: https://www.econbiz.de/10009477532

Overview of the Great Recession in the Chippewa Valley, Wisconsin and the US

Block, Sam; Christensen, Drew; Ross, April; Wieseman, … - 2010

Color poster with text, images, and graphs.

Persistent link: https://www.econbiz.de/10009460833

The Global Financial Crisis: Analysis and Policy Implications

Nanto, Dick K. - 2009

The world has entered a global recession that is causing widespread business contraction, increases in unemployment, and shrinking government revenues. The process for coping with the crisis by countries across the globe has been manifest in four basic phases. The first has been intervention to...

Persistent link: https://www.econbiz.de/10009482932

Countercyclical Job Creation Programs

Levine, Linda - 2009

To counter the effect of recessions on workers, Congress has passed legislation to spur job creation through increased spending on public works (infrastructure) and public service programs, revenue sharing with state governments, and employment tax credits. Although the economic stimulus measure...

Persistent link: https://www.econbiz.de/10009482933

Delving into country risk

Iranzo Gutiérrez, Silvia - 2008

the work of research and risk management departments of banks, insurance companies, rating agencies, financial market …

Persistent link: https://www.econbiz.de/10012529527

Local debt expansion, vulnerability reduction? : an assessment for six crises-prone countries

Acevedo, Paloma; Alberola, Enrique; Broto Pelegrín, Carmen

In recent years, for most emerging markets, public debt has decreased and its composition has evolved toward domestic currency. This progress is remarkable in terms of reduced financial vulnerability, which has been underpinned by favourable financing conditions and related deepening of local...

Persistent link: https://www.econbiz.de/10012530191

Decentralized multinational banks and risk taking : the Spanish experience in the crisis

Argimón Maza, Isabel - 2017

el riesgo ; This paper analyses the effects of decentralized multinational banks, characterized by the large autonomy of … the affiliates that the banking group has abroad, on bank’s risk, using Spanish confidential supervisory data. Having … multinational and decentralized banks. On the other hand, the international activity of banks may be associated to more risk taking …

Persistent link: https://www.econbiz.de/10012530590