Narrow search
Showing 1 - 10 of 898,551
Cover Image
A Dual Liquidity Model for Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
The last few years have seen a significant re-evaluation of the models used to analyze crises in emerging markets. Recent models typically stress financial constraints or distorted financial incentives. While this certainly represents progress, these models share a weakness with the earlier...
Persistent link: https://www.econbiz.de/10014121253
Cover Image
A Dual Liquidity Model for Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2002
The last few years have seen a significant re-evaluation of the models used to analyze crises in emerging markets. Recent models typically stress financial constraints or distorted financial incentives. While this certainly represents progress, these models share a weakness with the earlier...
Persistent link: https://www.econbiz.de/10014110704
Cover Image
A 'Vertical' Analysis of Monetary Policy in Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
During emerging market crises, domestic agents might have sufficient collateral to borrow from the other domestic agents, but they are unable to borrow from foreigners because the country, as a whole, lacks international collateral. In this setting, we show that an (ex-post) optimizing central...
Persistent link: https://www.econbiz.de/10014118568
Cover Image
An Historical Walk Through Recent Financial Crises
Kowalski, Tad; Shachmurove, Yochanan - 2011
in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory …
Persistent link: https://www.econbiz.de/10014180395
Cover Image
Exchange Rate Volatility and the Credit Channel in Emerging Markets : A Vertical Perspective
Caballero, Ricardo - 2004
Firms in emerging markets are exposed to severe financial frictions and credit constraints, that are exacerbated by the sudden stop of capital inflows. Can monetary policy offset this external credit squeeze? We show that although this may be the case during moderate contractions (or in partial...
Persistent link: https://www.econbiz.de/10012468176
Cover Image
Exchange Rate Volatility and the Credit Channel in Emerging Markets : A Vertical Perspective
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
Firms in emerging markets are exposed to severe financial frictions and credit constraints, that are exacerbated by the sudden stop of capital inflows. Can monetary policy offset this external credit squeeze? We show that although this may be the case during moderate contractions (or in partial...
Persistent link: https://www.econbiz.de/10013211679
Cover Image
Volatility spillovers of Federal Reserve and ECB balance sheet expansions to emerging market economies
Apostolou, Apostolos; Beirne, John - 2017
This paper examines volatility spillovers from changes in the size of the balance sheets of the Federal Reserve (FED … most susceptible to positive volatility spillovers from both the FED and ECB in terms of magnitude. Positive volatility … about ten. By contrast, we find that EME stock markets are subject to negative volatility spillovers. Moreover, we find only …
Persistent link: https://www.econbiz.de/10011636172
Cover Image
External Debt, Currency Risk, and International Monetary Policy Transmission
Wiriadinata, Ursula - 2018
I argue that countries' dollar-denominated net external debt (dollar debt) helps explain the large differences in risk premia across currencies and how U.S. monetary policy affects the global economy. When the U.S. dollar strengthens, the real value of dollar debt increases, weakening the...
Persistent link: https://www.econbiz.de/10012915245
Cover Image
Coping with Chile's External Vulnerability : A Financial Problem
Caballero, Ricardo J. - 2003
's aggregate volatility can be reduced significantly by fostering the private sector's development of financial instruments that …
Persistent link: https://www.econbiz.de/10014128983
Cover Image
Exchange rate volatility and the credit channel in emerging markets : a vertical perspective
Caballero, Ricardo J. (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002160482