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Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff1

Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff1 »

Source: Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff

Volume/Issue: 2006/73

Series: IMF Working Papers

Author(s): Enrique Mendoza , and Ceyhun Bora Durdu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863338

Keywords: Fisherian deflation, globalization hazard, price guarantees, bonds, trading costs, bond, Open Economy Macroeconomics, Financial Markets and the Macroeconomy, Fisherian Delfation,

An implication of the "globalization hazard" hypothesis is that sudden stops could be prevented by offering foreign investors price guarantees on emerging markets assets. These guarantees create a tradeoff, however...

Precautionary Demand for Foreign Assets in Sudden Stop Economies

Precautionary Demand for Foreign Assets in Sudden Stop Economies »

Source: Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Volume/Issue: 2007/146

Series: IMF Working Papers

Author(s): Enrique Mendoza , Ceyhun Bora Durdu , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451867107

Keywords: Fisherian Deflation, Liability Dollarization, Credit Constraints, foreign assets, financial globalization, foreign asset, net foreign assets,

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest f...

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis*

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis* »

Source: Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis

Volume/Issue: 2010/164

Series: IMF Working Papers

Author(s): Enrique Mendoza , and Emine Boz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201754

Keywords: credit crisis, financial innovation, imperfect information, learning, Fisherian deflation, probability, bond, probabilities, bonds, Open Economy Macroeconomics

Uncertainty about the riskiness of new financial products was an important factor behind the U.S. credit crisis. We show that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dy...

Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff

Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff »

Volume/Issue: 2006/73

Series: IMF Working Papers

Author(s): Enrique Mendoza , and Ceyhun Bora Durdu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451863338.001

ISBN: 9781451863338

Keywords: Fisherian deflation, globalization hazard, price guarantees, bonds, trading costs, bond, Open Economy Macroeconomics, Financial Markets and the Macroeconomy, Fisherian Delfation,

An implication of the "globalization hazard" hypothesis is that sudden stops could be prevented by offering foreign investors price guarantees on emerging markets assets. These guarantees create a tradeoff, however...

Precautionary Demand for Foreign Assets in Sudden Stop Economies
			: An Assessment of the New Merchantilism

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism »

Volume/Issue: 2007/146

Series: IMF Working Papers

Author(s): Enrique Mendoza , Ceyhun Bora Durdu , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867107.001

ISBN: 9781451867107

Keywords: Fisherian Deflation, Liability Dollarization, Credit Constraints, foreign assets, financial globalization, foreign asset, net foreign assets,

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest f...

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis »

Volume/Issue: 2010/164

Series: IMF Working Papers

Author(s): Enrique Mendoza , and Emine Boz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

DOI: http://dx.doi.org/10.5089/9781455201754.001

ISBN: 9781455201754

Keywords: credit crisis, financial innovation, imperfect information, learning, Fisherian deflation, probability, bond, probabilities, bonds, Open Economy Macroeconomics

Uncertainty about the riskiness of new financial products was an important factor behind the U.S. credit crisis. We show that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dy...