Carnegie-Rochester Conference Series on Public Policy最新文献

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Managing financial crises: the experience in East Asia A comment 管理金融危机:东亚的经验
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-12-01 DOI: 10.1016/S0167-2231(01)00027-6
Thomas D. Willett
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引用次数: 0
Managing financial crises: the experience in East Asia 管理金融危机:东亚的经验
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-12-01 DOI: 10.1016/S0167-2231(01)00026-4
Jack Boorman, Timothy Lane, Marianne Schulze-Ghattas, Ales̆ Bulír̆, Atish R. Ghosh, Javier Hamann, Alex Mourmouras, Steven Phillips
{"title":"Managing financial crises: the experience in East Asia","authors":"Jack Boorman,&nbsp;Timothy Lane,&nbsp;Marianne Schulze-Ghattas,&nbsp;Ales̆ Bulír̆,&nbsp;Atish R. Ghosh,&nbsp;Javier Hamann,&nbsp;Alex Mourmouras,&nbsp;Steven Phillips","doi":"10.1016/S0167-2231(01)00026-4","DOIUrl":"10.1016/S0167-2231(01)00026-4","url":null,"abstract":"<div><p>The Asian financial crisis of 1997–98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management and the way that strategy was implemented including, with regard to official and private financing, structural reforms, and monetary and fiscal policies.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"53 1","pages":"Pages 1-67"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(01)00026-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77228759","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 111
Interest-rate and borrowing defense against speculative attack a comment 利率和借贷防御投机攻击的评论
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-12-01 DOI: 10.1016/S0167-2231(01)00035-5
Sergio Rebelo
{"title":"Interest-rate and borrowing defense against speculative attack a comment","authors":"Sergio Rebelo","doi":"10.1016/S0167-2231(01)00035-5","DOIUrl":"10.1016/S0167-2231(01)00035-5","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"53 1","pages":"Pages 349-359"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(01)00035-5","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86109132","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
International financial architecture and strategic default: can financial crises be less painful? 国际金融架构与战略违约:金融危机能减轻痛苦吗?
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-12-01 DOI: 10.1016/S0167-2231(01)00036-7
Michael P. Dooley
{"title":"International financial architecture and strategic default: can financial crises be less painful?","authors":"Michael P. Dooley","doi":"10.1016/S0167-2231(01)00036-7","DOIUrl":"10.1016/S0167-2231(01)00036-7","url":null,"abstract":"<div><p>Recent financial crises in emerging markets have been followed by temporary but substantial losses in output. This paper explores the possibility that threats of such losses are the dominant incentive for repayment of international debt. In this environment private debtors and creditors have strong incentives to design international contracts so that renegotiation is costly. Such contracts generate dead weight losses following crises. Proposals to modify contractual arrangements, or to facilitate or impose renegotiation, can be welfare-improving under special circumstances. However, it is likely that such proposals would also weaken the incentives that make private international debt possible.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"53 1","pages":"Pages 361-377"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(01)00036-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73578905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 43
Optimal currency crises 最优货币危机
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-12-01 DOI: 10.1016/S0167-2231(01)00030-6
Franklin Allen, Douglas Gale
{"title":"Optimal currency crises","authors":"Franklin Allen,&nbsp;Douglas Gale","doi":"10.1016/S0167-2231(01)00030-6","DOIUrl":"10.1016/S0167-2231(01)00030-6","url":null,"abstract":"<div><p>Flawed government policies have been offered as an explanation for currency crises in most of the previous literature. With few exceptions, the role of the banking system is ignored. Empirical evidence suggests that in recent decades banking crises and currency crises have been linked. A model is developed here where the “twin” crises result from low asset returns. Large movements in exchange rates are desirable to the extent that they allow better risk-sharing between a country's bank depositors and the international bond market. The rationale for using short-term debt denominated in a foreign reserve currency is also investigated.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"53 1","pages":"Pages 177-230"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(01)00030-6","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81571653","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 102
Devaluation risk and the business-cycle implications of exchange-rate management A comment 贬值风险和汇率管理的商业周期影响评论
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-12-01 DOI: 10.1016/S0167-2231(01)00033-1
Charles W. Calomiris
{"title":"Devaluation risk and the business-cycle implications of exchange-rate management A comment","authors":"Charles W. Calomiris","doi":"10.1016/S0167-2231(01)00033-1","DOIUrl":"10.1016/S0167-2231(01)00033-1","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"53 1","pages":"Pages 297-302"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(01)00033-1","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89883582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Measuring real economic effects of bailouts: historical perspectives on how countries in financial distress have fared with and without bailouts 衡量救助的实际经济影响:从历史角度看陷入金融困境的国家在接受和不接受救助时的表现
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-12-01 DOI: 10.1016/S0167-2231(01)00028-8
Michael D. Bordo, Anna J. Schwartz
{"title":"Measuring real economic effects of bailouts: historical perspectives on how countries in financial distress have fared with and without bailouts","authors":"Michael D. Bordo,&nbsp;Anna J. Schwartz","doi":"10.1016/S0167-2231(01)00028-8","DOIUrl":"10.1016/S0167-2231(01)00028-8","url":null,"abstract":"<div><p>In this paper we first trace the changing nature of banking, currency, and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue loans. We then present evidence suggesting that the incidence has increased and the severity of financial crises has changed little in emerging markets from the pre-1914 era to the present. Finally we assess the impact of IMF loans on the macro performance of the recipients. A simple with-without comparison of countries receiving IMF assistance during crises in the period 1973–98 with countries in the same region not receiving assistance suggests that the real performance of the former group was possibly worse than the latter. Similar results obtain adjusting for self-selection bias and counterfactual policies.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"53 1","pages":"Pages 81-167"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(01)00028-8","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116568651","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 129
Reorganization 重组
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-06-01 DOI: 10.1016/S0167-2231(00)00015-4
Steven J. Davis
{"title":"Reorganization","authors":"Steven J. Davis","doi":"10.1016/S0167-2231(00)00015-4","DOIUrl":"10.1016/S0167-2231(00)00015-4","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"52 ","pages":"Pages 23-31"},"PeriodicalIF":0.0,"publicationDate":"2000-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00015-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80423874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 12
Product vs. process innovations and economic fluctuations 产品与工艺创新和经济波动
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-06-01 DOI: 10.1016/S0167-2231(00)00020-8
Mehmet Yorukoglu
{"title":"Product vs. process innovations and economic fluctuations","authors":"Mehmet Yorukoglu","doi":"10.1016/S0167-2231(00)00020-8","DOIUrl":"https://doi.org/10.1016/S0167-2231(00)00020-8","url":null,"abstract":"<div><p>The effects of product and process innovations on economic fluctuations are studied in this paper. The main features of the model are endogenous product innovations and lower-bound consumption constraints on each variety. Results show that in cases when productivity is low compared to the number of available varieties, process innovations increase economic activity, whereas, the effects of product innovations are not significant. However, if the number of different varieties of goods available is low compared to productivity and the lower-bound consumption constraints bind, process innovations might be contractionary.</p></div>","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"52 ","pages":"Pages 137-163"},"PeriodicalIF":0.0,"publicationDate":"2000-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/S0167-2231(00)00020-8","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91725389","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 16
Product vs. process innovations and economic fluctuations: A comment 产品、工艺创新和经济波动:评论
Carnegie-Rochester Conference Series on Public Policy Pub Date : 2000-06-01 DOI: 10.1016/S0167-2231(00)00021-X
J. Eaton
{"title":"Product vs. process innovations and economic fluctuations: A comment","authors":"J. Eaton","doi":"10.1016/S0167-2231(00)00021-X","DOIUrl":"https://doi.org/10.1016/S0167-2231(00)00021-X","url":null,"abstract":"","PeriodicalId":100218,"journal":{"name":"Carnegie-Rochester Conference Series on Public Policy","volume":"60 1","pages":"165-169"},"PeriodicalIF":0.0,"publicationDate":"2000-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74398428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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