This paper builds on the methodology developed by Chudik and Mongardini (2007) to estimate the relationship between grants and remittances and the equilibrium real exchange rate in Sub-Saharan African (SSA) countries using panel techniques. The results indicate that grants and remittances are...

This paper presents a simplified overview of the causes of and policy responses to the East Asian financial crisis, focusing on the four principal countries involved, namely, Thailand, Indonesia, Malaysia and Korea. The main point is that there was a prolonged investment boom in these countries...

Currency crises are usually associated with large real depreciations. In some countries real depreciations are perceived to be very costly("fear of floating"). In this paper we try to understand the reasons behind this fear. We first look at episodes of currency crises in the '90s and establish...