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Book/Printed Material On the empirics of sudden stops the relevance of balance-sheet effects

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Title

  • On the empirics of sudden stops the relevance of balance-sheet effects

Summary

  • "Using a sample of 32 developed and developing countries we analyze the empirical characteristics of sudden stops in capital flows and the relevance of balance sheet effects in the likelihood of their materialization. We find that large real exchange rate (RER) fluctuations coming hand in hand with Sudden Stops are basically an emerging market (EM) phenomenon. Sudden Stops seem to come in bunches, grouping together countries that are different in many respects. However, countries are similar in that they remain vulnerable to large RER fluctuations be it because they could be forced to large adjustments in the absorption of tradable goods, and/or because the size of dollar liabilities in the banking system (i.e., domestic liability dollarization, or DLD) is high. Openness, understood as a large supply of tradable goods that reduces leverage over the current account deficit, coupled with DLD, are key determinants of the probability of Sudden Stops. The relationship between Openness and DLD in the determination of the probability of Sudden Stops is highly non-linear, implying that the interaction of high current account leverage and high dollarization may be a dangerous cocktail"--National Bureau of Economic Research web site.

Names

  • Calvo, Guillermo A.
  • Izquierdo, Alejandro, 1964-
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2004.

Headings

  • -  Capital movements--Case studies
  • -  Financial statements--Case studies
  • -  Foreign exchange rates--Case studies

Notes

  • -  Title from PDF file as viewed on 1/12/2005.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2005615147

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Calvo, Guillermo A, Alejandro Izquierdo, and National Bureau Of Economic Research. On the Empirics of Sudden Stops the Relevance of Balance-Sheet Effects. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. https://aj.sunback.homes/item/2005615147/.

APA citation style:

Calvo, G. A., Izquierdo, A. & National Bureau Of Economic Research. (2004) On the Empirics of Sudden Stops the Relevance of Balance-Sheet Effects. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2005615147/.

MLA citation style:

Calvo, Guillermo A, Alejandro Izquierdo, and National Bureau Of Economic Research. On the Empirics of Sudden Stops the Relevance of Balance-Sheet Effects. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2005615147/>.