Evaluation of currency regimes the unique role of sudden stops
"This paper tackles two established puzzles in international macroeconomics literature. The first is the lack of systematic difference in the macroeconomic performance across exchange rate regimes. The second is the absence of a clear empirical relationship between macroeconomic performance and...
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| Hauptverfasser: | , |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2005
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| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11785 |
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| 245 | 1 | 0 | |a Evaluation of currency regimes |b the unique role of sudden stops |c Assaf Razin ; Yona Rubinstein |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2005 | |
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| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 11785 | |
| 520 | 3 | |a "This paper tackles two established puzzles in international macroeconomics literature. The first is the lack of systematic difference in the macroeconomic performance across exchange rate regimes. The second is the absence of a clear empirical relationship between macroeconomic performance and capital-account liberalization. We suggest that both may appear because empirical methodologies fail to account for a latent economic "crisis state," influenced by exchange-rate and capital account regimes, and to allow the effects of a policy regime on growth to depend on whether the economy is in a crisis-prone latent state. In practice, we model and estimate the latent state of the economy as a crisis probability. In the framework we propose, exchange rate and capital market liberalization regimes can have both a direct effect on short-term growth, and an indirect effect on growth that is channelled through their effects on the crisis probability"--National Bureau of Economic Research web site. | |
| 650 | 4 | |a Financial crises | |
| 650 | 4 | |a Foreign exchange rates | |
| 700 | 1 | |a Rubinstein, Yona |d 1962- |e Verfasser |0 (DE-588)12897009X |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Internetausgabe |
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Datensatz im Suchindex
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| id | DE-604.BV021481858 |
| illustrated | Illustrated |
| indexdate | 2025-02-03T17:28:01Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-014664243 |
| oclc_num | 62717452 |
| open_access_boolean | 1 |
| owner | DE-703 DE-521 DE-19 DE-BY-UBM |
| owner_facet | DE-703 DE-521 DE-19 DE-BY-UBM |
| physical | 18, [16] S. graph. Darst. |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spellingShingle | Razin, Asaf 1941- Rubinstein, Yona 1962- Evaluation of currency regimes the unique role of sudden stops National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Financial crises Foreign exchange rates |
| title | Evaluation of currency regimes the unique role of sudden stops |
| title_auth | Evaluation of currency regimes the unique role of sudden stops |
| title_exact_search | Evaluation of currency regimes the unique role of sudden stops |
| title_full | Evaluation of currency regimes the unique role of sudden stops Assaf Razin ; Yona Rubinstein |
| title_fullStr | Evaluation of currency regimes the unique role of sudden stops Assaf Razin ; Yona Rubinstein |
| title_full_unstemmed | Evaluation of currency regimes the unique role of sudden stops Assaf Razin ; Yona Rubinstein |
| title_short | Evaluation of currency regimes |
| title_sort | evaluation of currency regimes the unique role of sudden stops |
| title_sub | the unique role of sudden stops |
| topic | Financial crises Foreign exchange rates |
| topic_facet | Financial crises Foreign exchange rates |
| url | http://papers.nber.org/papers/w11785.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT razinasaf evaluationofcurrencyregimestheuniqueroleofsuddenstops AT rubinsteinyona evaluationofcurrencyregimestheuniqueroleofsuddenstops |