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Leistungsbilanzentwicklung ausgewählter Schwellenländer Asiens und Lateinamerikas: Ursachen und wirtschaftspolitische Konsequenzen.
Schweickert, Rainer - Kiel Institute for the World Economy - 2000
Persistent link: https://www.econbiz.de/10008677628
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The Euro's Challenge to the Dollar; Different Views From Economists and Evidence From Cofer (Currency Composition of Foreign Exchange Reserves) and Other Data
Lim, Ewe-Ghee - International Monetary Fund (IMF) - 2006
This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view … euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is … insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an …
Persistent link: https://www.econbiz.de/10005825711
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Trade and Financial Contagion in Currency Crises
Salgado, Ranil; Ricci, Luca Antonio; Caramazza, Francesco - International Monetary Fund (IMF) - 2000
estimation finds these economic indicators to be significant for emerging market countries during the Mexican, Asian, and Russian …
Persistent link: https://www.econbiz.de/10005769104
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Original Sin, Balance Sheet Crises, and the Roles of International Lending
Zettelmeyer, Jeromin; Jeanne, Olivier - International Monetary Fund (IMF) - 2002
We present a stylized framework which encompasses a variety of "balance sheet approaches" to currency crises that have been suggested in the literature, and analyze their policy implications. The common theme is that currency and maturity mismatches in private sector balance sheets constrain the...
Persistent link: https://www.econbiz.de/10005599651
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Currency Crises in Developed and Emerging Market Economies; A Comparative Empirical Treatment
Fontaine, Thomson - International Monetary Fund (IMF) - 2005
This paper takes a step in empirically testing the implications of a number of theoretical models that attempt to highlight the dynamics behind currency crises. By focusing on countries with broadly disparate economic and political arrangements, the study attempts to determine the extent to...
Persistent link: https://www.econbiz.de/10005599757
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Czech Koruna and Polish Zloty; Spot and Currency Option Volatility Patterns
Morales, Armando Méndez - International Monetary Fund (IMF) - 2001
against the euro relative to the U.S. dollar, while the opposite is true for the zloty, apparently related to earlier … inflation rates. By contrast, the currency options market shows enhanced information content of both currencies against the euro …
Persistent link: https://www.econbiz.de/10005826189
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Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries
Yue, Vivian Z.; Jahjah, Samir - International Monetary Fund (IMF) - 2004
We test the hypothesis of a link between exchange rate policy and sovereign bonds. We analyze the effect of exchange rate policies on supply and credit spreads of sovereign bonds issued by developing countries. An exchange rate policy is captured by the de facto exchange rate regime and the real...
Persistent link: https://www.econbiz.de/10005599729
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Haircuts; Estimating Investor Losses in Sovereign Debt Restructurings, 1998-2005
Zettelmeyer, Jeromin; Sturzenegger, Federico - International Monetary Fund (IMF) - 2005
This paper estimates bond-by-bond "haircuts"-realized investor losses-in recent debt restructurings in Russia, Ukraine, Pakistan, Ecuador, Argentina, and Uruguay. We consider both external and domestic retructurings. Haircuts are computed as the percentage difference between the present values...
Persistent link: https://www.econbiz.de/10005825806
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Accounting for Output Drops in Latin America
Lama, Ruy - International Monetary Fund (IMF) - 2009
This paper evaluates what type of models can account for the recent episodes of output drops in Latin America. I develop an open economy version of the business cycle accounting methodology (Chari, Kehoe, and McGrattan, 2007) in which output fluctuations are decomposed into four sources: total...
Persistent link: https://www.econbiz.de/10005826407