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Are asset price guarantees useful for preventing sudden stops? : a quantitative investigation of the globalization hazard-moral hazard tradeoff /
An implication of the "globalization hazard" hypothesis is that sudden stops could be prevented by offering foreign investors price guarantees on emerging markets assets. These guarantees create a tradeoff, however, because they weaken globalization hazard by creating international moral h...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund, Research Dept.,
©2006.
|
| Colección: | IMF working paper ;
WP/06/73. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Durdu, Ceyhun Bora, |e author. | |
| 245 | 1 | 0 | |a Are asset price guarantees useful for preventing sudden stops? : |b a quantitative investigation of the globalization hazard-moral hazard tradeoff / |c Ceyhun Bora Durdu and Enrique G. Mendoza. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, Research Dept., |c ©2006. | ||
| 300 | |a 1 online resource (33, [11] pages) : |b illustrations | ||
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| 490 | 1 | |a IMF working paper ; |v WP/06/73 | |
| 504 | |a Includes bibliographical references. | ||
| 588 | 0 | |a Print version record. | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 520 | |a An implication of the "globalization hazard" hypothesis is that sudden stops could be prevented by offering foreign investors price guarantees on emerging markets assets. These guarantees create a tradeoff, however, because they weaken globalization hazard by creating international moral hazard. We study this tradeoff using an equilibrium asset-pricing model. Without guarantees, margin calls and trading costs cause Sudden Stops driven by Fisher's debt-deflation process. Price guarantees prevent this deflation by propping up foreign asset demand, but their effectiveness and welfare implications depend critically on the price elasticity of foreign demand and on making the guarantees contingent on debt levels | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 505 | 0 | |a Contents -- I. INTRODUCTION -- II. A MODEL OF GLOBALIZATION HAZARD AND PRICE GUARANTEES -- III. CHARACTERIZING THE GLOBALIZATION HAZARD-MORAL HAZARD TRADEOFF -- IV. QUANTITATIVE ANALYSIS -- V. NORMATIVE IMPLICATIONS AND SENSITIVITY ANALYSIS -- VI. CONCLUSIONS -- REFERENCES | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Economic policy. | |
| 650 | 0 | |a Globalization. | |
| 650 | 6 | |a Mondialisation. | |
| 650 | 6 | |a Politique économique. | |
| 650 | 7 | |a globalism. |2 aat | |
| 650 | 7 | |a Economic policy |2 fast | |
| 650 | 7 | |a Globalization |2 fast | |
| 700 | 1 | |a Mendoza, Enrique G., |d 1963- |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Research Department. | |
| 758 | |i has work: |a Are Asset Price Guarantees Useful for Preventing Sudden Stops? (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGXtCTHPPXXMByqyKKDhxP |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Durdu, Ceyhun Bora. |t Are asset price guarantees useful for preventing sudden stops?. |d [Washington, D.C.] : International Monetary Fund, Research Dept., ©2006 |w (OCoLC)70112439 |
| 830 | 0 | |a IMF working paper ; |v WP/06/73. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=3014509 |z Texto completo |
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