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Currency crises, generally defined as rapid depreciation of a local currency or loss of foreign exchange reserves, are common incidents in modern monetary systems. Due to their repeated occurrence and severity, they have earned wide coverage by both theoretical and empirical literature. However,...
Persistent link: https://www.econbiz.de/10011259158
Iceland experienced a significant financial meltdown and subsequent economic downturn after the 2008/2009 financial crisis struck the country. It had been the worst crisis ever experienced by a small country from the late 20th century onwards. Since 1980s, Iceland's macroeconomic stability had...
Persistent link: https://www.econbiz.de/10008919755
This paper investigates the dynamic implications of Krugman’s (1999) model of financial crises with balance-sheet effects, which has a considerable impact on the literature as well as the teaching of international financial crisis. By explicitly taking account of wealth accumulation and...
Persistent link: https://www.econbiz.de/10008529247
serves as money in most banking systems in the world is privately created credit money. We can compare the current most …
Persistent link: https://www.econbiz.de/10011258509
The United States economy has suffered over the past four years from crises in mortgage foreclosures and in financial markets, as well as a long recession that some have referred to as the Great Recession. The links between these events, or more broadly the causes, extent and effects of these...
Persistent link: https://www.econbiz.de/10009220099
2009 ist eine Diskussion darüber entbrannt, inwieweit die derzeitige Finanzkrise Einfluss auf die mittelfristigen … Zeitreihenmodellen abgeschätzt. Die Ergebnisse deuten darauf hin, dass das Niveau des Produktionspotenzials aufgrund der Finanzkrise … durch eine Stagnation des technischen Fortschritts verursacht wird. Die Auswirkungen der Finanzkrise auf die mittelfristige …
Persistent link: https://www.econbiz.de/10008472806
Abstract This is the 2008 Edition of one of only two book in print in the world about the Single Global Currency, and … is the only book in the world priced in 141 currencies (down from 147 in the 2006 edition.).This number is significant … the world - trillions. The multicurrency foreign exchange trading system was developed about 2,500 years ago to enable …
Persistent link: https://www.econbiz.de/10005835646
With heterogeneous productivity and sticky prices in the short run, exchange rate changes can generate real effects on agents in the economy; the result is that the currency regime becomes a policy variable amenable to political competition. This paper discusses how special interests and...
Persistent link: https://www.econbiz.de/10005836101
"3-G" world. It's common cents. …
Persistent link: https://www.econbiz.de/10005836848
In this paper, I give a detailed account of the creation and the evolution of Korea Investment Corporation (KIC) – a sovereign wealth fund established in 2005 by the Korean government. In doing so, I highlight three of its unique features. First, the case of KIC effectively shows the problem...
Persistent link: https://www.econbiz.de/10011259985