Bougheas, Spiros; Lim, Hosung; Mateut, Simona; Mizen, Paul - Centre for Finance, Credit and Macroeconomics (CFCM), …
There are some surprising parallels between the 1997-8 Asian crisis and the recent financial crisis that provide lessons for policymakers. This paper provides a theoretical model of an open economy credit channel including currency mismatch and financial fragility where exporting firms have...