Author/Editor: Armando Méndez Morales, Jose Giancarlo Gasha.

Release Date:August, 2004

Using data from Argentina, Australia, Colombia, El Salvador, Peru, and the United States, we identify three types of threshold effects when assessing the impact of economic activity on nonperforming more...

Author/Editor: Armando Méndez Morales, Maria del Mar Cacha.

Release Date:November, 2003

Bank borrowers' currency mismatches often result from unhedged foreign currency borrowing in economies where there is significant dollarization, exposing the financial sector to disguised credit more...

Author/Editor: Armando Méndez Morales, Liliana Schumacher.

Release Date:March, 2003

Financial decisions of economic agents are based on volatility considerations. However, no aggregate indicators have been used by policymakers and regulators to assess the market risk environment. more...

Author/Editor: Jorge A Chan-Lau, Armando Méndez Morales.

Release Date:January, 2003

This paper analyzes the informational efficiency of OTC currency options on the Czech koruna and the Polish zloty correcting for the volatility risk premium and errors-in-variable problems, using more...

Author/Editor: Adolfo Barajas, Armando Méndez Morales.

Release Date:January, 2003

Dollarization of liabilities (DL) has emerged as a key factor in explaining the vulnerability of emerging markets to financial and currency crises. Usual suspects of causing DL comprise more...

Author/Editor: Armando Méndez Morales.

Release Date:August, 2001

Exchange rate flexibility has facilitated an impressively fast insertion of the Czech koruna and the Polish zloty into the global currency market. However, exchange rate volatility patterns differ: more...

Author/Editor: Armando Méndez Morales.

Release Date:July, 1998

An error-correction model identifies determinants of growth consistent with results from panel regressions based on a standard Cobb-Douglas production function for El Salvador for 1970-1995, with more...