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A Markov regime switching model of crises and contagion : the case of the Iberian countries in the EMS
Lopes, José Mário; Nunes, Luis C. - In: Journal of macroeconomics 34 (2012) 4, pp. 1141-1153
Persistent link: https://www.econbiz.de/10009703298
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Aggregate Volatility in Modern Latin America : Causes and Cures
Caballero, Ricardo J. - 2014
volatility of real and financial variables. Rather than attempting to characterize every possible shock and amplification … mechanism, this paper offers a parsimonious account of volatility in countries that have already tamed most of the traditional … only explain the observed volatility but they also generate clear externalities that require policy intervention. This …
Persistent link: https://www.econbiz.de/10014153316
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An Historical Walk Through Recent Financial Crises
Kowalski, Tad; Shachmurove, Yochanan - 2011
This paper analyzes the causes and implications of recent financial crises. Financial crises in general lead to changes in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory during the 20th century is discussed. The paper...
Persistent link: https://www.econbiz.de/10014180395
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Sudden Stops, Banking Crises and Investment Collapses
Joyce, Joseph P.; Nabar, Malhar - 2018
We evaluate whether financial openness leaves emerging market economies vulnerable to the adverse effects of capital reversals (sudden stops) on domestic investment. We investigate this claim in a broad sample of emerging markets during the period 1976-2002. If the banking sector does not...
Persistent link: https://www.econbiz.de/10014052268
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The Chinese Economy in the Asian Financial Crisis : The Stability of RMB
Chang, Gene H - 1999
The Chinese economy has been reasonably stable during the Asian financial crisis. However, there is a widespread speculation about the prospect of the stability of RMB, the Chinese currency. While the Chinese government has repeatedly promised the stability of RMB, many oversea economists have...
Persistent link: https://www.econbiz.de/10014197230
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Crises in Emerging Market Economies : Lessons for Greece
Vlachopoulou, Alexandra - 2015
The Greek sovereign debt crisis has raised some important issues, not only with regard to the effectiveness of the Economic and Monetary Union (EMU) as an optimal currency area, but also as to whether or not a member state should exit the euro zone in the face of unsustainable debt problems,...
Persistent link: https://www.econbiz.de/10013033821
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Conventional and Insidious Macroeconomic Balance-Sheet Crises
Bakker, Bas B. - 2014
This paper describes the anatomy of two types of balance-sheet macroeconomic crises. Conventional balance-sheet crises are triggered by external imbalances and balance sheet vulnerabilities. They typically occur after capital inflows have led to a substantial build up of foreign currency...
Persistent link: https://www.econbiz.de/10013047609
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Economic Crises in Southeast Asia
Samphantharak, Krislert - 2019
This paper explores episodes of financial crises and recessions experienced by the economies in Southeast Asia: the global debt crisis and the commodity price collapse in the 1980s, the Asian financial crisis in the 1990s, and the burst of the dot-com bubble and the global financial crisis in...
Persistent link: https://www.econbiz.de/10012893520
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Russian Financial Crisis (Crise Financeira Russa)
Pinto, Bruno José Marques; Vilela, Thais; De Lima, Ursula - 2005
Fundamental sources of the Russian financial crisis in 1998 are discussed. Focus is made on the time horizon of judgements concerning sustainability of the economic policy. It is argued that the macroeconomic policy pursued by the monetary authorities was not robust in a medium run, but, in the...
Persistent link: https://www.econbiz.de/10014065728
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External Balance Sheets as Countercyclical Crisis Buffers
Joyce, Joseph P. - 2018
The external balance sheets of many emerging market countries are distinguished by their holdings of assets primarily in the form of foreign debt and foreign exchange reserves, while their liabilities are predominantly equity, either foreign direct investment or portfolio equity. We investigate...
Persistent link: https://www.econbiz.de/10012922815