Results 11 to 20 of about 11,749 (301)
Common Shocks and Currency Crises [PDF]
Federal Reserve Bank of San Francisco, Working Paper Series, 2000 This paper attempts to determine the extent to which common external shocks explain simultaneous currency crises. We define crises on a country by country basis using a new criterion that takes into account variations in the volatility of exchange rates over time and across countries. Using a Poisson regression model, we find that over the post-Bretton
Ramon Moreno, Bharat Trehan
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Twin Crises in Turkey: A Comparison of Currency Crisis Models [PDF]
The European Journal of Comparative Economics, 2008 This paper analyzes the twin crises in Turkey experienced in 2000 and 2001. After a detailed survey of currency crisis models, together with a brief descriptive overview of the crises in Turkey, the similarities among the twin crises in Turkey and the ...
Hakan Yilmazkuday
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Are Currency Crises Predictable? A Test [PDF]
IMF Staff Papers, 1998 This paper evaluates three models for predicting currency crises that were proposed before 1997. The idea is to answer the question: if we had been using these models in late 1996, how well armed would we have been to predict the Asian crisis? The results are mixed but somewhat encouraging.
Andrew Berg, Catherine Pattillo
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Corporate Leverage And Currency Crises [PDF]
SSRN Electronic Journal, 2000 Currency crises can arise because it is optimal to bail out financially distressed exporting firms through a currency depreciation. Exporting firms will not undertake profitable investments when high leverage causes debt overhang problems. A currency depreciation increases the profitability of new investments when revenues are foreign-currency ...
Bris, Arturo, Koskinen, Yrjo
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Currency boards and currency crises [PDF]
Oxford Economic Papers, 2004 This paper demonstrates how a currency board can become vulnerable to a crisis in which the policymaker is forced to devalue. The model is built from two blocks: first, incomplete information about the devaluation cost faced by the policymaker; and second, unemployment persistence. Incomplete information can result in multiple equilibria.
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Are currency crises predictable?
European Economic Review, 1997 This paper studies whether exchange rate expectations and overvaluations are predictors of currency crises. The results suggest that overvaluation has predictive power in explaining crises. However, although expected depreciation obtained from survey data partially takes different measures of exchange rate misalignment into consideration, expectations ...
Rodrigo O. Valdes, Ilan Goldfajn
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Corporate Currency Hedging and Currency Crises [PDF]
, 2009 We examine the impact of corporate currency hedging on economic stability by introducing hedging activity in a Mundell-Fleming-Tobin framework for analyzing currency and financial crises. The ratio between hedged and unhedged firms is modelled depending on firm size as well as hedging costs.
Andreas Röthig +2 more
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On currency crises and contagion [PDF]
International Journal of Finance & Economics, 2002 AbstractThis paper analyses the role of contagion in the currency crises in emerging markets during the 1990s. It employs a non‐linear Markov‐switching model to conduct a systematic comparison and evaluation of three distinct causes of currency crises: contagion, weak economic fundamentals, and sunspots, i.e.
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PARA KRİZLERİ: TÜRKİYE'DE YAŞANMIŞ KRİZLERİN DEĞERLENDİRİLMESİ
Journal of Business Administration and Social Studies, 2021 International capital markets have been affected by several economic and financial crises since the late 1980s. Rapid capital acount liberalization increased the vulnerability of developing countries with weak fundemantais and /or underdeveloped ...
Ayşe Çelikel DANIŞOĞLU
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Currency crises in EU candidate countries: An early warning system approach [PDF]
Panoeconomicus, 2015 The purpose of this paper is to develop an econometric model of early warning system (EWS) for predicting currency crises in EU candidate countries.
Bucevska Vesna
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