currency crises
Currency crises
... to currency crises, since one would expect continuous market adjustment to limit the buildup of pressures leading to extreme currency overvaluation and subsequent large discrete currency ...
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Default, currency crises, and sovereign credit ratings
... around currency crises show no significant difference between developed and emerging market economies in the probability of a downgrade (or multiple downgrades) following a currency crisis (table ...
40
Default, Currency Crises and Sovereign Credit Ratings
... between currency crises and ...anticipate currency crises--but do considerably better predicting ...the currency crisis--possibly highlighting how currency instability increases ...
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Currency crises in Russia and other transition economies
... debt crises (which finally led to currency crises) broke out in Asian countries, which had nearly perfect fundamentals: high saving ratios, strong growth, undervalued rather than overvalued ...
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Banking and Currency Crises: How Common Are Twins?
... from currency crises to the onset of banking crises, is also well ...a currency can lead to a bank crisis if deposit money is used to speculate in the foreign exchange market and banks are ...
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Currency Crises: Is Central America Different?
... Third, currency crises in Central America are also interesting because the countries of this region (with the exception of Nicaragua) seem to have achieved greater exchange rate stability than most of their ...
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Government Finance in the Wake of Currency Crises
... To characterize the time at which the Þxed exchange rate regime collapses and the post- crisis behavior of the economy, we make particular assumptions about government policy. Here there are two possibilities. First, we ...
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Signaling Currency Crises in South Africa
... on currency crises is centered on the paradigm of the three generations of currency crises ...described currency crises as speculative attacks which re- sult from monetary or ...
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Political contagion in currency crises: A comment
... is the shared feature of the rational forward-looking speculator. Yet the empirical evidence is far from conclusive in providing support for the view that markets are forward looking. In our work we found that interest ...
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The internationalisation of financial crises: Banking and currency crises 1883-2008
... many crises and be able to reject the null of indepen- ...simultaneous currency crises, one can observe up to 18 occurrences of two simultaneous crises without having to reject ...simultaneous ...
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Currency Crises and Macroeconomic Performance
... of currency crises in a substantial number of cases over a 34-year period ending in 1998, and it offers a simple theoretical framework for exploring the dynamic response of an economy to a sudden ...
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A Corporate Balance-Sheet Approach to Currency Crises
... This paper has concentrated on developing a full-ßedged ”third generation” model of currency crises. Whilst we have focused our attention on microfoun- dations, we have left out a number of interesting ...
41
Supply shocks and currency crises: the policy dilemma reconsidered
... of currency crises in emerging markets include output contraction coming hard on the heels of devaluation, with a prominent role for the adverse balance-sheet effects of liability ...the currency ...
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Leading Indicators of Currency Crises in Emerging Economies.
... of currency crises is also ...a currency crisis is also dependent on country-specific characteristics; second, speculative behavior, which is difficult to capture using empirical studies, becomes ...
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Are emerging market currency crises predictable? A test
... signal crises reasonably well in-sample, and that the ANN model slightly outperformed the probit ...earlier currency crises literature, the ability of the models to predict currency ...
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Banking and currency crises: how common are twins?
... banking crises by month (as in Kaminsky and Reinhart, 1999) or by quarter seems ...identify currency crises and date each by the year in which it ...of currency and banking crises, ...
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Currency crises in Asia: a multivariate logit approach
... Several methods have been suggested for EWS models. The most pop- ular one is used in this paper, namely qualitative response (logit or probit) models. Examples are Frankel and Rose (1996) and Frankel and Wei (2005), who ...
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The Banking and Currency Crises in Bulgaria: 1996 - 1997
... and currency crises in 1996–1997 and evaluates the causal link between ...The currency crisis was a consequence of expansionary monetary policy, which led to irreversible depletion of international ...
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Banking Sector Strength and the Transmission of Currency Crises
... of currency crises changes over time (Saxena, 2004), we find it conceivable that the nature of the transmission of crises changes over ...Thai crises remained largely ...
25
Currency crises in Russia and other transition economies
... debt crises (which finally led to currency crises) broke out in Asian countries, which had nearly perfect fundamentals: high saving ratios, strong growth, undervalued rather than overvalued ...
29