 | Emerging Market Business Cycles: The Role of Labor Market Frictions Author/Editor: Emine Boz, Ceyhun Bora Durdu, Nan Li. Release Date:October, 2012 Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open more...
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 | On the Solvency of Nations : Are Global Imbalances Consistent with Intertemporal Budget Constraints? Author/Editor: Enrique G. Mendoza, Marco Terrones, Ceyhun Bora Durdu. Release Date:February, 2010 Theory predicts that a nation's stochastic intertemporal budget constraint is satisfied if net exports (NX) and net foreign assets (NFA) satisfy an error-correction specification with a residual more...
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| Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism Author/Editor: Enrique G Mendoza, Ceyhun Bora Durdu, Marco Terrones. Release Date:June, 2007 Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves more...
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| Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff Author/Editor: Enrique G Mendoza, Ceyhun Bora Durdu. Release Date:March, 2006 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 more...
| Price: $15.00
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