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International Liquidity Swaps : Is the Chiang Mai Initiative Efficiently Pooling Reserves?
Kohlscheen, Emanuel; Taylor, Mark P. - 2011
We analyze the network of bilateral liquidity swaps (BSAs) among the ASEAN 3 countries. We find that the network has …
Persistent link: https://www.econbiz.de/10014058273
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External crisis vulnerability in Latin America and the Caribbean
Cavallo, Eduardo A.; Fernández Arias, Eduardo - 2023
This paper assesses the vulnerability of Latin American and Caribbean (LAC) economies to external crises. It shows that while the average LAC economy has made significant strides to reduce vulnerability to crises to its historical minimum, there is still considerable room for improvement,...
Persistent link: https://www.econbiz.de/10014563991
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Hoarding of International Reserves and Sterilization in Dollarized and Indebted Countries : An Effective Monetary Policy?
Mansour, Layal - 2012
The primary aim of this paper is to explore the effectiveness of Hoarding International Reserves and Sterilization in dollarized and indebted countries such as Turkey and Lebanon, by measuring the sterilization coefficient, and the offset coefficient. It also focuses on exploring the link...
Persistent link: https://www.econbiz.de/10013106790
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Making Sense of China’s Excessive Foreign Reserves
Wen, Yi - 2011
Large uninsured risk, severe borrowing constraints, and rapid income growth can create excessively high household saving rates and large current account surpluses for emerging economies. Therefore, the massive foreign-reserve buildups by China are not necessarily the intended outcome of any...
Persistent link: https://www.econbiz.de/10013130666
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External crisis vulnerability in Latin America and the Caribbean
Cavallo, Eduardo A.; Fernández Arias, Eduardo - 2023
This paper assesses the vulnerability of Latin American and Caribbean (LAC) economies to external crises. It shows that while the average LAC economy has made significant strides to reduce vulnerability to crises to its historical minimum, there is still considerable room for improvement,...
Persistent link: https://www.econbiz.de/10014536612
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Dollarization of Liabilities : Underinsurance and Domestic Financial Underdevelopment
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
insurance against shocks that depreciate the equilibrium exchange rate. The presence of country-level 'international' financial … constraints justify the purchase of such insurance even if all agents are risk neutral. However, if 'domestic' financial … constraints also exist, domestics will undervalue the social contribution of contracting insurance against country-wide shocks …
Persistent link: https://www.econbiz.de/10014151417
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Sovereign risk: A macro-financial perspective
Das, Udaibir S.; Oliva, Maria A.; Tsuda, Takahiro - 2012
We examine some of the macro-financial dimensions of sovereign risk and propose a conceptual framework that captures risks other than just the default risk. Morphed under a multi-dimensional notion of sovereign risk, we argue that the existing empirical methodologies to measure sovereign risk...
Persistent link: https://www.econbiz.de/10010397353
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Sovereign Risk: A Macro-Financial Perspective
Das, Udaibir S.; Oliva, Maria A.; Tsuda, Takahiro - Asian Development Bank Institute, Asian Development Bank - 2012
We examine some of the macro-financial dimensions of sovereign risk and propose a conceptual framework that captures risks other than just the default risk. Morphed under a multi-dimensional notion of sovereign risk, we argue that the existing empirical methodologies to measure sovereign risk...
Persistent link: https://www.econbiz.de/10010840184
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Sovereign Risk : A Macro-Financial Perspective
Das, Udaibir S.; Oliva, Maria A.; Tsuda, Takahiro - East Asian Bureau of Economic Research (EABER) - 2012
We examine some of the macro-financial dimensions of sovereign risk and propose a conceptual framework that captures risks other than just the default risk. Morphed under a multi-dimensional notion of sovereign risk, we argue that the existing empirical methodologies to measure sovereign risk...
Persistent link: https://www.econbiz.de/10011278143
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Sovereign Risk : A Macro-Financial Perspective
Das, Udaibir S.; Oliva, Maria A.; Tsuda, Takahiro - East Asian Bureau of Economic Research (EABER) - 2012
We examine some of the macro-financial dimensions of sovereign risk and propose a conceptual framework that captures risks other than just the default risk. Morphed under a multi-dimensional notion of sovereign risk, we argue that the existing empirical methodologies to measure sovereign risk...
Persistent link: https://www.econbiz.de/10011278199