Results 11 to 20 of about 82,472 (45)
The Hedging Channel of Exchange Rate Determination
International Finance Discussion Paper, 2020 We propose the currency hedging channel that connects countries’ external imbalances to their exchange rate behavior. We present a model in which investors increase their currency hedging during periods of financial distress in proportion to their net ...
Gordon Y. Liao, T. Zhang
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A Quantitative Microfounded Model for the Integrated Policy Framework
IMF Working Papers, 2021 We develop a microfounded New Keynesian model to analyze monetary policy and financial stability issues in open economies with financial fragilities and weakly anchored inflation expectations.
C. Erceg +4 more
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International Capital Flows: Private Versus Public Flows in Developing and Developed Countries
Social Science Research Network, 2022 Empirically, net capital inflows are pro-cyclical in developed countries and countercyclical in developing countries. That said, private inflows are pro-cyclical and public inflows are counter-cyclical in both groups of countries.
Yun Jung Kim, Jing Zhang
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American Economic Journal: Macroeconomics, 2018 Sovereign debt crises involve debt restructurings characterized by a mix of face value haircuts and maturity extensions. The prevalence of maturity extensions has been hard to reconcile with economic theory.
Maximiliano A. Dvorkin +3 more
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The Global Capital Flows Cycle: Structural Drivers and Transmission Channels
Social Science Research Network, 2019 In this paper, we study the effects of structural shocks that influence global risk – the main factor behind a “global capital flows cycle” – and how risk, in turn, is transmitted to capital flows.
M. Habib, F. Venditti
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After the Panic: Are Financial Crises Demand or Supply Shocks? Evidence from International Trade
American Economic Review: Insights, 2019 Are financial crises a negative shock to aggregate demand or supply? This is a fundamental question for research and policy making. Arguments for stimulus usually presume demand-side shortfalls; arguments for tax cuts or structural reform look to the ...
Felipe Benguria, A. Taylor
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The Macroeconomics of the Greek Depression
Social Science Research Network, 2019 Greece experienced a boom until 2007, followed by a collapse of unprecedented magnitude and persistence. We assess the sources of the boom and the bust, using a rich estimated dynamic general equilibrium model.
Gabriel Chodorow-reich +3 more
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The Missing Food Problem: Trade, Agriculture, and International Productivity Differences
, 2015 Trevor Tombe
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Understanding Markups in the Open Economy
, 2015 Beatriz Sanchez de Blas +1 more
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Interest Rates, Leverage, and Business Cycles in Emerging Economies: The Role of Financial Frictions
, 2013 By Andrés Fernández, Adam Gulan
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