Controlling Currency Mismatches in Emerging Markets
In most of the currency crises of the 1990s, the largest output falls have occurred in those emerging economies with large currency mismatches, a phenomenon that occurs when assets and liabilities are denominated in different currencies such that net worth is sensitive to changes in the exchange rate. Currency mismatching makes crisis management much more difficult since it constrains the willingness of the monetary authority to reduce interest rates in a recession (for fear of initiating a large fall in the currency that would bring with it large-scale insolvencies). The mismatching also produces a fear of floating on the part of emerging ec…
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Produktdetails
Weitere Autoren: Turner, Philip
- ISBN: 978-0-88132-457-0
- EAN: 9780881324570
- Produktnummer: 37332969
- Verlag: Peterson Institute for International Economics
- Sprache: Englisch
- Erscheinungsjahr: 2004
- Plattform: PDF
Über den Autor
Morris Goldstein and Philip Turner
16 weitere Werke von Morris Goldstein:
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