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de Valores, el nivel de Reservas Internacionales de México, la Deuda Interna Mexicana y la Tasa de Interés en depósitos … de ahorro, con el objetivo de describir las crisis financieras de México durante estas dos décadas y cuantificar su … rates of the Mexican Stock Exchange, Mexico's international Levels of Reserve, Mexican Internal Debt and the interest rate …
Persistent link: https://www.econbiz.de/10013062930
In trying to explain the balance-of-payments and banking crises of 1994-95 that erupted in Mexico, observers have … that these inflows contributed to rapid monetary growth, real appreciation of the peso, and the widening of Mexico … Mexico was not yet ready to grow rapidly, these inflows may have contributed to the fall in Mexico's savings rate. This paper …
Persistent link: https://www.econbiz.de/10014102405
This paper analyzes sovereign risk contagion in the Eurozone using an extension to the canonical model for contagion proposed by Pesaran and Pick (2007) and Metiu (2012) to allow for time-varying coefficients. This becomes necessary due to changes in the risk pricing of sovereign bonds since the...
Persistent link: https://www.econbiz.de/10010222446
The paper investigates the life-cycle of the 2008-2009 financial crisis by linking the Macroeconomic Imbalance Procedure (MIP) Scoreboard of the European Commission to the crisis database of the European Systemic Risk Board (ESRB). The novelty of the analysis is that early warning capacity of...
Persistent link: https://www.econbiz.de/10012104493
Persistent link: https://www.econbiz.de/10013424319
This paper examines the cases of the Early Warning System (EWS) in the Republic of Korea, which was introduced in the wake of 1997/98 Asian financial crisis in a policy effort to prevent its recurrence. The EWS in the Republic of Korea was expanded into a national system in 2005 incorporating...
Persistent link: https://www.econbiz.de/10011283413
This work develops an early warning system framework for assessing systemic risks and for predicting systemic events, i.e. periods of extreme financial instability with potential real costs, over the short horizon of six quarters and the long horizon of twelve quarters on the panel of 14...
Persistent link: https://www.econbiz.de/10010234040
With a four-stage sequential game model, we study how bailouts ameliorate the effects of liquidation on fundamentals, reduce the likelihood of currency crises and affect the financial sector's (non-observable) effort. In stage 1, exchange rate regime is announced and all agents receive...
Persistent link: https://www.econbiz.de/10011539079
In this paper we apply the Early Warning System methodology to ten Central and Eastern European Countries to find useful sets of indicators which could predict macroeconomic and financial imbalances. We argue that finding such indicators is crucial in the current monetary policy framework...
Persistent link: https://www.econbiz.de/10010403026
The recent financial and sovereign debt crises around the world have sparked a growing literature on models and empirical estimates of defaultable debt. Frequently households and firms come under default threat, local governments can default, and recently sovereign default threats were eminent...
Persistent link: https://www.econbiz.de/10010498572