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Gourinchas, Pierre-Olivier - 2016

We provide an empirical and theoretical analysis of the Greek Crisis of 2010. We first benchmark the crisis against all episodes of sudden stops, sovereign debt crises, and lending boom/busts in emerging and advanced economies since 1980. The decline in Greece's output, especially investment, is...

Persistent link: https://www.econbiz.de/10012456307

Public Sector Deficits and Macroeconomic Stability in Developing Countries

Edwards, Sebastian - 1996

detail how some countries -- most notably Argentina, Chile and Mexico -- were successfully able to eliminate their fiscal …

Persistent link: https://www.econbiz.de/10012473457

Why are Stabilizations Delayed?

Alesina, Alberto - 1989

When a stabilization has significant distributional implications (as in the case of tax increases to eliminate a large budget deficit) different socio-economic groups will attempt to shift the burden of stabilization onto other groups. The process leading to a stabilization becomes a "war of...

Persistent link: https://www.econbiz.de/10012475993

Do Investor Differences Impact Monetary Policy Spillovers to Emerging Markets?

Faia, Ester; Lewis, Karen K.; Zhou, Haonan - National Bureau of Economic Research - 2024

We re-examine monetary policy spillovers to Emerging Market Economies (EME) in the form of capital flow reversals, using sectoral-level securities holdings data for Euro Area investors. In response to a surprise monetary tightening, active investors such as investment funds re-balance their...

Persistent link: https://www.econbiz.de/10015072927

Quantitative Models of Sovereign Debt Crises

Aguiar, Mark - 2016

) rollover defaults. For the quantitative evaluation of the model, we focus on Mexico and carefully discuss the successes and …

Persistent link: https://www.econbiz.de/10012456549

A Theory of Fear of Floating

Bianchi, Javier; Coulibaly, Louphou - National Bureau of Economic Research - 2023

Many central banks whose exchange rate regimes are classified as flexible are reluctant to let the exchange rate fluctuate. This phenomenon is known as "fear of floating". We present a simple theory in which fear of floating emerges as an optimal policy outcome. The key feature of the model is...

Persistent link: https://www.econbiz.de/10013537789

The Role of Bank Restructuring in Recovering from Crises : Mexico 1995-98

Krueger, Anne - 1999

Mexico has experienced since 1995. Although fresh domestic bank lending dried up, tradable firms obtained financing in the …

Persistent link: https://www.econbiz.de/10012471758

A Tale of Two Crises : Chile and Mexico

Edwards, Sebastian - 1996

observers were shocked by this turn of events. Mexico had a remarkable historical precedent: merely a dozen years earlier Chile … suffered a prophetically similar crisis. Like Mexico during the 1980s, Chile during the 1970s undertook major structural … aimed at creating a modern financial sector. In Chile, as in Mexico more than a decade later, the use of a predetermined …

Persistent link: https://www.econbiz.de/10012473039

Self-Protection for Emerging Market Economies

Feldstein, Martin - 1999

International economic crises will continue to occur in the future as they have for centuries past. The rapid spread of the 1997 crisis in Asia and of the 1982 crisis in Latin America showed how shifts in market perceptions can suddenly bring trouble to countries even when there has been no...

Persistent link: https://www.econbiz.de/10012471904

From Carry Trades to Trade Credit : Financial Intermediation by Non-Financial Corporations

Hardy, Bryan; Saffie, Felipe - National Bureau of Economic Research - 2023

We use unique firm-level data from Mexico to document that non-financial corporations engage in carry trades by …

Persistent link: https://www.econbiz.de/10014250200