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L'art difficile de prévoir les crises économiques

L'art difficile de prévoir les crises économiques »

Series: Economic Issues

Author(s): Catherine Pattillo , and Andrew Berg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2001

Language: French

DOI: http://dx.doi.org/10.5089/9781557758859.051

ISBN: 9781557758859

Keywords: early warning, warning system, early warning system, financial markets, currency crises, international reserves, international financial markets, overvaluation, financial institutions, real exchange rate overvaluation

The integration of financial markets around the world over the past decade has posed new challenges for policymakers. The speed with which money can be switched in and out of currencies and countries has increased...

The Demand Cor International Reserves and their Opportunity Cost

The Demand Cor International Reserves and their Opportunity Cost »

Source: The Demand Cor International Reserves and their Opportunity Cost

Volume/Issue: 1988/105

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 December 1988

ISBN: 9781451947328

Keywords: reserve holdings, international reserves, financial markets, international financial markets, international borrowing

An empirical study that shows that countries’ reserve holdings are sensitive to the rates at which they can borrow on international financial markets, this analysis confirms the view that holding major curre...

Mexico

Mexico »

Source: Mexico : Staff Report for the 2012 Article IV Consultation

Volume/Issue: 2012/316

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2012

ISBN: 9781475523126

Keywords: international reserves, financial assets, financial sector, derivative, bonds

The IMF staff report on Mexico's financial policies has been satisfactory; these policies have been said to act as a buffer against risks that erupted during the global economic crisis. Mexico has been identified a...

Mexico: Staff Report for the 2012 Article IV Consultation—Debt Sustainability Analysis

Mexico: Staff Report for the 2012 Article IV Consultation—Debt Sustainability Analysis »

Source: Mexico : Staff Report for the 2012 Article IV Consultation

Volume/Issue: 2012/316

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2012

ISBN: 9781475523126

Keywords: international reserves, financial assets, financial sector, derivative, bonds

The IMF staff report on Mexico's financial policies has been satisfactory; these policies have been said to act as a buffer against risks that erupted during the global economic crisis. Mexico has been identified a...

Mexico: Staff Report for the 2012 Article IV Consultation—Informational Annex

Mexico: Staff Report for the 2012 Article IV Consultation—Informational Annex »

Source: Mexico : Staff Report for the 2012 Article IV Consultation

Volume/Issue: 2012/316

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2012

ISBN: 9781475523126

Keywords: international reserves, financial assets, financial sector, derivative, bonds

The IMF staff report on Mexico's financial policies has been satisfactory; these policies have been said to act as a buffer against risks that erupted during the global economic crisis. Mexico has been identified a...

IMF Executive Board Concludes 2012 Article IV Consultation with Mexico

IMF Executive Board Concludes 2012 Article IV Consultation with Mexico »

Source: Mexico : Staff Report for the 2012 Article IV Consultation

Volume/Issue: 2012/316

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2012

ISBN: 9781475523126

Keywords: international reserves, financial assets, financial sector, derivative, bonds

The IMF staff report on Mexico's financial policies has been satisfactory; these policies have been said to act as a buffer against risks that erupted during the global economic crisis. Mexico has been identified a...

Self-Fulfilling Risk Predictions

Self-Fulfilling Risk Predictions »

Source: Self-Fulfilling Risk Predictions : An Application to Speculative Attacks

Volume/Issue: 1998/124

Series: IMF Working Papers

Author(s): Robert Flood , and Nancy Marion

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

ISBN: 9781451854695

Keywords: Currency crisis, devaluation, risk premium, exchange rate, fixed exchange rate, bond, international reserves, shadow exchange rate

The paper shows that changing market beliefs about currency risk can generate a self-fulfilling speculative attack on a fixed exchange rate. The attack does not require a later change in policies to make it profita...

An Interest Rate Defense of a Fixed Exchange Rate?

An Interest Rate Defense of a Fixed Exchange Rate? »

Source: An Interest Rate Defense of a Fixed Exchange Rate?

Volume/Issue: 2000/159

Series: IMF Working Papers

Author(s): Olivier Jeanne , and Robert Flood

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

ISBN: 9781451857665

Keywords: Speculative attack, fixed exchange rate regime, exchange rate, bonds, domestic-currency, interest rate policy, international reserves

Defending a government’s exchange-rate commitment with active interest rate policy is not an option in the Krugman-Flood-Garber (KFG) model of speculative attacks. In that model, the interest rate is the pas...

Leading Indicators of Currency Crises

Leading Indicators of Currency Crises »

Source: Leading Indicators of Currency Crises

Volume/Issue: 1997/79

Series: IMF Working Papers

Author(s): Graciela Kaminsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1997

ISBN: 9781451955866

Keywords: Currency Crises, Leading Indicators, Survey, exchange rate, real exchange rate, international reserves, currency crisis

This paper examines the empirical evidence on currency crises and proposes a specific early warning system. This system involves monitoring the evolution of several indicators that tend to exhibit an unusual behavi...

International Reserves and Rollover Risk

International Reserves and Rollover Risk »

Source: International Reserves and Rollover Risk

Volume/Issue: 2013/33

Series: IMF Working Papers

Author(s): Javier Bianchi , Juan Carlos Hatchondo , and Leonardo Martinez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2013

ISBN: 9781475571295

Keywords: rollover risk, sovereign default, gross capital flows, reserve accumulation, reserve holdings, bonds, bond, International Lending and Debt Problems, Open Economy Macroeconomics,

Two striking facts about international capital flows in emerging economies motivate this paper: (1) Governments hold large amounts of international reserves, for which they obtain a return lower than their borrowin...