This paper examines the implications for the Nordic Countries (Denmark, Finland, Norway and Sweden) of participating in the finan stage of the European Monetary Union. Economic linkages with Germany are estimated using a time series approach under both the Bretton Woods and the post-Bretton...

This article investigates the effects of macroeconomic policy (monetary and fiscal) on output growth during financial crises characterized by a sudden stop" in net capital inflows in developing and emerging market economies. We investigate 83 sudden stop crises in 77 countries over 1982-2003...