Moron, Eduardo; Castro, Juan F.; Winkelried, Diego - EconWPA - 2004
The reduction of macroeconomic vulnerability in emerging markets is at the core of the research agenda. In this context … exchange rate, when assessing financial vulnerability. If we asses vulnerability in terms of the evolution of investment, we … claim that, in absence of an asset price channel, departures from a pure float will not only help mitigate vulnerability but …