Narrow search
Showing 1 - 10 of 25
Cover Image
Credit market imperfections in middle income countries
Tornell, Aaron; Westermann, Frank - 2003
take on insolvency risk by denominating debt in foreign currency. This currency mismatch makes movements in the real …
Persistent link: https://www.econbiz.de/10011507971
Cover Image
Credit Market Imperfections in Middle Income Countries
Tornell, Aaron; Westermann, Frank - 2021
take on insolvency risk by denominating debt in foreign currency. This currency mismatch makes movements in the real …
Persistent link: https://www.econbiz.de/10013319907
Cover Image
Systemic crises and growth
Ranciere, Romain; Tornell, Aaron; Westermann, Frank - 2005
risk-taking increase leverage and investment. This leads to higher growth, but also to a greater incidence of crises …
Persistent link: https://www.econbiz.de/10010261177
Cover Image
Systemic Crises and Growth
Rancière, Romain G.; Tornell, Aaron; Westermann, Frank - 2005
risk-taking increase leverage and investment. This leads to higher growth, but also to a greater incidence of crises …
Persistent link: https://www.econbiz.de/10014060801
Cover Image
Crises and Growth : A Re-Evaluation
Rancière, Romain G.; Tornell, Aaron; Westermann, Frank - 2005
risk arises and firms find it optimal to take on credit risk in the form of currency mismatch. Along such a risky path … adoption of credit risk is welfare improving and brings the allocation nearer to the Pareto optimal level. The design of the … model is motivated by several features of recent crises: credit risk in the form of foreign currency denominated debt …
Persistent link: https://www.econbiz.de/10014060802
Cover Image
Systemic Crises and Growth
Rancière, Romain G.; Tornell, Aaron; Westermann, Frank - 2021
risk-taking increase leverage and investment. This leads to higher growth, but also to a greater incidence of crises …
Persistent link: https://www.econbiz.de/10013318563
Cover Image
Crises and Growth : A Re-Evaluation
Rancière, Romain G.; Tornell, Aaron; Westermann, Frank - 2021
risk arises and firms find it optimal to take on credit risk in the form of currency mismatch. Along such a risky path … adoption of credit risk is welfare improving and brings the allocation nearer to the Pareto optimal level. The design of the … model is motivated by several features of recent crises: credit risk in the form of foreign currency denominated debt …
Persistent link: https://www.econbiz.de/10013319365
Cover Image
Transmission of nominal exchange rate changes to export prices and trade flows and implications for exchange rate policy
Hoffmann, Mathias; Holtemöller, Oliver - 2009
We discuss how the welfare ranking of fixed and flexible exchange rate regimes in a New Open Economy Macroeconomics model depends on the interplay between the degree of exchange rate pass-through and the elasticity of substitution between home and foreign goods. We identify combinations of these...
Persistent link: https://www.econbiz.de/10003870831
Cover Image
Transmission of Nominal Exchange Rate Changes to Export Prices and Trade Flows and Implications for Exchange Rate Policy
Hoffmann, Mathias - 2016
We discuss how the welfare ranking of fixed and flexible exchange rate regimes in a New Open Economy Macroeconomics model depends on the interplay between the degree of exchange rate pass-through and the elasticity of substitution between home and foreign goods. We identify combinations of these...
Persistent link: https://www.econbiz.de/10012991030
Cover Image
Transmission of Nominal Exchange Rate Changes to Export Prices and Trade Flows and Implications for Exchange Rate Policy
Holtemöller, Oliver - 2017
We discuss how the welfare ranking of fixed and flexible exchange rate regimes in a New Open Economy Macroeconomics model depends on the interplay between the degree of exchange rate pass-through and the elasticity of substitution between home and foreign goods. We identify combinations of these...
Persistent link: https://www.econbiz.de/10012951764