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Sudden stops and currency drops : a historical look /

This paper shows that recent manifestations of sudden stops (SSs) in international capital flows have striking parallels in the early financial globalization era preceding World War I. All main capital-importing countries then faced episodic capital flow reversals averaging some 5 percent of GDP and...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Catão, Luis (Autor)
Autor Corporativo: International Monetary Fund. Research Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2006.
Colección:IMF working paper ; WP/06/133.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Catão, Luis,  |e author. 
245 1 0 |a Sudden stops and currency drops :  |b a historical look /  |c [prepared by] Luis A.V. Catão. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2006. 
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490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/06/133 
504 |a Includes bibliographical references (pages 52-59). 
520 |a This paper shows that recent manifestations of sudden stops (SSs) in international capital flows have striking parallels in the early financial globalization era preceding World War I. All main capital-importing countries then faced episodic capital flow reversals averaging some 5 percent of GDP and with a median duration of four years. Most SSs also displayed striking crosscountry synchronization, being immediately preceded by rising world interest rates. Both fixed and floating exchange rate regimes were hit, with no significant differences between them. Yet, not all SSs resulted in currency drops: while some countries experienced currency collapses, others managed to preserve exchange rate stability. These different responses are related to domestic "frictions" that heightened the procyclicality of absorption and hindered precautionary reserve accumulation in some countries relative to others 
588 0 |a Print version record. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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505 0 |a Contents -- I. INTRODUCTION -- II. PATTERNS OF SUDDEN STOPS -- III. CAPITAL FLOWS AND CURRENCY CRASHES -- IV. DOMESTIC FINANCIAL IMPERFECTIONS AND PROCYCLICAL BEHAVIOR -- V. CONCLUSION -- REFERENCES 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Recessions. 
650 0 |a Financial crises  |x History. 
650 0 |a Business cycles  |x History. 
650 6 |a Récessions. 
650 6 |a Cycles économiques  |x Histoire. 
650 7 |a Business cycles  |2 fast 
650 7 |a Financial crises  |2 fast 
650 7 |a Recessions  |2 fast 
655 7 |a History  |2 fast 
710 2 |a International Monetary Fund.  |b Research Department. 
776 0 8 |i Print version:  |a Catão, Luis.  |t Sudden stops and currency drops.  |d [Washington, D.C.] : International Monetary Fund, ©2006  |w (OCoLC)77530539 
830 0 |a IMF working paper ;  |v WP/06/133. 
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