Showing 1 - 10 of 53
Since 1990 capital has flowed from industrial countries to developing regions like Latin America, and parts of Asia. Reentry into international capital markets is a welcome turn of events for most countries. However, capital inflows are often associated with inflationary pressures, a real...
Persistent link: https://www.econbiz.de/10015215828
This paper discusses that a lot of the debate on selecting an exchange rate regime misses the time. It begins explaining the standard theory of choice between exchange rate regimes, and then explores the fragilities in this theory, specifically when this is applied to emerging economies. Next...
Persistent link: https://www.econbiz.de/10015263769
El presente trabajo estudia un modelo sustentado en los fundamentos de la regla de Taylor para evaluar la previsibilidad de la tasa de cambio nominal de seis divisas latinoamericanas - el peso argentino, el peso chileno, el peso colombiano, el peso mexicano, el peso uruguayo y el real brasileño...
Persistent link: https://www.econbiz.de/10008511657
El presente trabajo estudia un modelo sustentado en los fundamentos de la regla de Taylor para evaluar la previsibilidad de la tasa de cambio nominal de seis divisas latinoamericanas - el peso argentino, el peso chileno, el peso colombiano, el peso mexicano, el peso uruguayo y el real brasileño...
Persistent link: https://www.econbiz.de/10008483951
Una lección de la crisis financiera fue la sobre reacción de las políticas cambiarias en países de Sudamérica. Después del estallido de la crisis, gran parte de ellos tendieron a depreciar sus monedas, esperando enfrentar mejor los efectos negativos, para posteriormente apreciarlas hasta...
Persistent link: https://www.econbiz.de/10009004180
¿Es verdaderamente la crisis financiera 2007-2008 de las hipotecas sub-prime en EEUU, un fenómeno nuevo y diferente? Nuestro examen de los registros históricos más extensos encuentra asombrosas similitudes, tanto cuantitativas como cualitativas, con 18 crisis financieras en países...
Persistent link: https://www.econbiz.de/10015215809
More frequent and increasingly severe crises are encouraging emerging market economies to seek means to make themselves less vulnerable to sudden stops in capital flows. Capital controls have been widely discussed, but dollarization may offer a longer-term and more market-friendly solution.
Persistent link: https://www.econbiz.de/10015215838
This paper develops variants of the model suggested by Glick and Rogoff (1996) and VAR models to analyze short term effects of the main determinants for the current account in Costa Rica. Empirical evidence suggests that, lagged investment, government’s primary surplus, terms of trade,...
Persistent link: https://www.econbiz.de/10015235783
The purpose of the present document is to analyze the main factors that determine Central Bank foreign reserve accumulation in Costa Rica and to estimate an econometric specification to forecast the foreign reserve stock in a two-year span. The foreign reserves stock represents an important...
Persistent link: https://www.econbiz.de/10015235858
The Greek sovereign debt crisis exposed the weaknesses of the financial system in relation to the control and risk management in the European context. Moreover, as part of the Greek sovereign debt is concentrated in European banks, a default affect its solvency and liquidity. The new regulation...
Persistent link: https://www.econbiz.de/10015236116