منابع مشابه
Corporate Currency Hedging and Currency Crises
We examine the impact of corporate currency hedging on economic stability by introducing hedging activity in a Mundell-Fleming-Tobin framework for analyzing currency and financial crises. The ratio between hedged and unhedged firms is modelled depending on firm size as well as hedging costs. The results indicate that, with an increasing fraction of hedged firms in an economy, the magnitude of a...
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The paper by Barry Eichengreen and Ricardo Haussman is correct to focus on the policies that the emerging market countries (EMC) themselves can pursue to reduce the risk of future economic crises, instead of discussing new policies for the IMF or for the industrial countries that some analysts hope might achieve that goal. I agree with their emphasis on EMC self-help and on the multiple causes ...
متن کاملModels of Currency Crises
This chapter was originally published in The Evidence and Impact of Financial Globalization published by Elsevier, and the attached copy is provided by Elsevier for the author's benefit and for the benefit of the author's institution, for noncommercial research and educational use including without limitation use in instruction at your institution, sending it to specific colleagues who you know...
متن کاملDarmstadt Discussion Papers in Economics Currency Futures and Currency Crises
Since financial derivatives are key instruments for risk taking as well as risk reduction, it is only straightforward to examine their role in currency crises. This paper addresses this issue by investigating the impact of currency futures trading on the underlying exchange rates. After a discussion of trading mechanisms and trader types, the linkage between futures trading activity and spot ma...
متن کاملCurrency Crises and Macroeconomic Performance
Economic Group Reserve Bank of Australia We thank colleagues in Economic Research Department and Financial System Group, especially Adam Cagliarini and David Gruen, for their suggestions. Aart Kraay generously provided some of the data used in Section 2. Any errors are ours and the opinions expressed here should not be attributed to the Reserve Bank of Australia.
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ژورنال
عنوان ژورنال: Oxford Economic Papers
سال: 2004
ISSN: 1464-3812
DOI: 10.1093/oep/56.1.64