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Enrique G. Mendoza

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Enrique G. Mendoza & Marco E. Terrones, 2012. "An Anatomy of Credits Booms and their Demise," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 15(2), pages 04-32, August.

    Mentioned in:

    1. Et si le cycle financier était à l'origine des déséquilibres courants de la zone euro ?
      by ? in D'un champ l'autre on 2014-11-06 02:19:00
  2. Enrique G. Mendoza & Vincenzo Quadrini & José-Víctor Ríos-Rull, 2009. "Financial Integration, Financial Development, and Global Imbalances," Journal of Political Economy, University of Chicago Press, vol. 117(3), pages 371-416, June.

    Mentioned in:

    1. A large US current account deficit is normal
      by Economic Logician in Economic Logic on 2009-07-25 05:53:00
  3. Mendoza, Enrique G. & Razin, Assaf & Tesar, Linda L., 1994. "Effective tax rates in macroeconomics: Cross-country estimates of tax rates on factor incomes and consumption," Journal of Monetary Economics, Elsevier, vol. 34(3), pages 297-323, December.

    Mentioned in:

    1. Taxes, everything is relative
      by Economic Logician in Economic Logic on 2008-03-12 05:17:00
  4. Enrique G. Mendoza & Marco E. Terrones, 2008. "An anatomy of credit booms: evidence from macro aggregates and micro data," International Finance Discussion Papers 936, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. More Finance, More Growth? More Finance, More Crises?
      by Yves Smith in Naked Capitalism on 2014-06-20 13:38:59
    2. More Finance, More Growth? More Finance, More Crises?
      by Gerald Epstein in Triple Crisis on 2014-06-19 17:00:19
  5. Ethan Ilzetzki & Enrique G. Mendoza & Carlos Vegh, 2010. "How Big (Small?) are Fiscal Multipliers?," NBER Working Papers 16479, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Fiscal Multipliers – How big or small?
      by Amol Agrawal in Mostly Economics on 2010-11-03 15:32:17
    2. Given the enormity of the short- and long-run fiscal challenges facing the US, the lack of policy detail from both presidential candidates is disappointing
      by Blog Admin in British Politics and Policy at LSE on 2012-10-25 18:00:36
    3. Monetary or fiscal stimulus can help only if unemployment is cyclical; otherwise, if unemployment is structural expansionary policies will lead only to inflation. Careful recent analyses indicate that unemployment is mainly cyclical in the US
      by Blog Admin in British Politics and Policy at LSE on 2012-10-24 21:00:33
    4. Osborne takes default risk
      by chris dillow in Stumbling and Mumbling on 2010-11-23 17:04:22
  6. Enrique G. Mendoza & Linda L. Tesar & Jing Zhang, 2014. "Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies," Working Paper Series WP-2014-13, Federal Reserve Bank of Chicago.

    Mentioned in:

    1. Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
      by Christian Zimmermann in NEP-DGE blog on 2015-01-17 01:59:01
  7. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. L'improbable coordination des politiques macroprudentielles
      by ? in D'un champ l'autre on 2014-03-24 02:00:00
  8. Ethan Ilzetzki & Enrique G. Mendoza & Carlos A. Végh, 2010. "How Big (Small?) are Fiscal Multipliers?," CEP Discussion Papers dp1016, Centre for Economic Performance, LSE.

    Mentioned in:

    1. Fiscal Multipliers – How big or small?
      by Amol Agrawal in Mostly Economics on 2010-11-03 15:32:17
    2. Given the enormity of the short- and long-run fiscal challenges facing the US, the lack of policy detail from both presidential candidates is disappointing
      by Blog Admin in British Politics and Policy at LSE on 2012-10-25 18:00:36
    3. Monetary or fiscal stimulus can help only if unemployment is cyclical; otherwise, if unemployment is structural expansionary policies will lead only to inflation. Careful recent analyses indicate that unemployment is mainly cyclical in the US
      by Blog Admin in British Politics and Policy at LSE on 2012-10-24 21:00:33
    4. Osborne takes default risk
      by chris dillow in Stumbling and Mumbling on 2010-11-23 17:04:22

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Mendoza, Enrique G, 1991. "Real Business Cycles in a Small Open Economy," American Economic Review, American Economic Association, vol. 81(4), pages 797-818, September.

    Mentioned in:

    1. > Macroeconomics > Economic Fluctuations > Real Business Cycle Theory > International RBC
  2. Mendoza, Enrique G, 1995. "The Terms of Trade, the Real Exchange Rate, and Economic Fluctuations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(1), pages 101-137, February.

    Mentioned in:

    1. > Macroeconomics > Economic Fluctuations > Real Business Cycle Theory > International RBC

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Enrique G. Mendoza, 2010. "Sudden Stops, Financial Crises, and Leverage," American Economic Review, American Economic Association, vol. 100(5), pages 1941-1966, December.

    Mentioned in:

    1. Sudden Stops, Financial Crises, and Leverage (AER 2010) in ReplicationWiki ()
  2. Enrique G. Mendoza & Vincenzo Quadrini & José-Víctor Ríos-Rull, 2009. "Financial Integration, Financial Development, and Global Imbalances," Journal of Political Economy, University of Chicago Press, vol. 117(3), pages 371-416, June.

    Mentioned in:

    1. Financial Integration, Financial Development, and Global Imbalances (JPE 2009) in ReplicationWiki ()
  3. Yuriy Gorodnichenko & Enrique G. Mendoza & Linda L. Tesar, 2012. "The Finnish Great Depression: From Russia with Love," American Economic Review, American Economic Association, vol. 102(4), pages 1619-1644, June.

    Mentioned in:

    1. The Finnish Great Depression: From Russia with Love (AER 2012) in ReplicationWiki ()

Working papers

  1. Oliver de Groot & Ceyhun Bora Durdu & Enrique G. Mendoza, 2023. "Why Global and Local Solutions of Open-Economy Models with Incomplete Markets Differ and Why it Matters," NBER Working Papers 31544, National Bureau of Economic Research, Inc.

    Cited by:

    1. Guillermo Hausmann-Guil, 2025. "Solving DSGE models with incomplete markets by perturbation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 57, July.
    2. Alessandri, Piergiorgio & Jordà, Òscar & Venditti, Fabrizio, 2025. "Decomposing the monetary policy multiplier," Journal of Monetary Economics, Elsevier, vol. 152(C).
    3. Guillermo Hausmann-Guil, 2025. "Online Appendix to "Solving DSGE models with incomplete markets by perturbation"," Online Appendices 24-34, Review of Economic Dynamics.

  2. Eugenia Andreasen & Sofía Bauducco & Evangelina Dardati & Enrique G. Mendoza, 2023. "Beware the Side Effects: Capital Controls, Trade and Misallocation," NBER Working Papers 30963, National Bureau of Economic Research, Inc.

    Cited by:

    1. Kwak, Kyongjun & Granados, Camilo, 2025. "Dissecting capital flows: Do capital controls shield against foreign shocks?," Journal of Financial Stability, Elsevier, vol. 79(C).
    2. Andreasen, Eugenia & Nuguer, Victoria, 2025. "Managing capital inflows in a partially dollarized economy: The role of reserve requirements," Journal of International Money and Finance, Elsevier, vol. 159(C).
    3. Martin Kornejew & Chen Lian & Yueran Ma & Pablo Ottonello & Diego J. Perez, 2024. "Bankruptcy Resolution and Credit Cycles," NBER Chapters, in: NBER Macroeconomics Annual 2024, volume 39, pages 1-39, National Bureau of Economic Research, Inc.

  3. Tesar, Linda & Mendoza, Enrique & Rojas, Eugenio, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality & the Output-Pandemia Tradeoff," CEPR Discussion Papers 15846, Centre for Economic Policy Research.

    Cited by:

    1. Eichenbaum, Martin S. & Rebelo, Sergio & Trabandt, Mathias, 2022. "The macroeconomics of testing and quarantining," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    2. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
    3. Emanuele Colombo Azimonti & Luca Portoghese & Patrizio Tirelli, 2022. "Covid-19 supply-side fiscal policies to escape the health-vs-economy dilemma," DEM Working Papers Series 208, University of Pavia, Department of Economics and Management.
    4. Luca Portoghese & Patrizio Tirelli, 2024. "Getting ready for the next pandemic: supply- side policies to escape the health-vs-economy dilemma," DEM Working Papers Series 219, University of Pavia, Department of Economics and Management.

  4. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff," Working Paper Series WP-2021-02, Federal Reserve Bank of Chicago.

    Cited by:

    1. Eichenbaum, Martin S. & Rebelo, Sergio & Trabandt, Mathias, 2022. "The macroeconomics of testing and quarantining," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    2. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
    3. Marcelo Arbex & Luiz A. Barros & Marcio V. Correa, 2023. "Pandemic, Inequality and Public Health: A Quantitative Analysis," Working Papers 2302, University of Windsor, Department of Economics.
    4. Chia-Hui Lu, 2024. "The impact of lockdowns on macroeconomic performance: An application of epidemiology dynamics," Economics Bulletin, AccessEcon, vol. 44(2), pages 707-719.
    5. Emanuele Colombo Azimonti & Luca Portoghese & Patrizio Tirelli, 2022. "Covid-19 supply-side fiscal policies to escape the health-vs-economy dilemma," DEM Working Papers Series 208, University of Pavia, Department of Economics and Management.
    6. Luca Portoghese & Patrizio Tirelli, 2024. "Getting ready for the next pandemic: supply- side policies to escape the health-vs-economy dilemma," DEM Working Papers Series 219, University of Pavia, Department of Economics and Management.

  5. Oliver de Groot & Bora Durdu & Enrique G. Mendoza, 2020. "Approximately Right?: Global v. Local Methods for Open-Economy Models with Incomplete Markets," Finance and Economics Discussion Series 2020-006, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Germaschewski, Yin & Horvath, Jaroslav & Rubini, Loris, 2024. "How important are trend shocks? The role of the debt elasticity of interest rate," Journal of International Economics, Elsevier, vol. 152(C).
    2. Enrique Mendoza & Sergio Villalvazo, 2020. "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 81-102, July.
    3. Horvath, Jaroslav & Yang, Guanyi, 2022. "Unemployment dynamics and informality in small open economies," European Economic Review, Elsevier, vol. 141(C).
    4. S. Boragan Aruoba & Pablo A. Cuba-Borda & Kenji Higa-Flores & Frank Schorfheide & Sergio Villalvazo, 2020. "Piecewise-Linear Approximations and Filtering for DSGE Models with Occasionally Binding Constraints," International Finance Discussion Papers 1272, Board of Governors of the Federal Reserve System (U.S.).
    5. de Groot, Oliver & Durdu, C. Bora & Mendoza, Enrique G., 2025. "Why global and local solutions of open-economy models with incomplete markets differ and why it matters," Journal of International Economics, Elsevier, vol. 158(C).

  6. Javier Bianchi & Enrique G. Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," NBER Working Papers 26915, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
    2. Herreño, Juan & Rondón-Moreno, Carlos, 2025. "Overborrowing and systemic externalities in the business cycle under imperfect information," Journal of International Economics, Elsevier, vol. 157(C).
    3. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    4. Andreasen, Eugenia & Bauducco, Sofía & Dardati, Evangelina, 2024. "Capital controls and firm performance," Journal of International Economics, Elsevier, vol. 150(C).
    5. Norring, Anni, 2022. "Taming the tides of capital: Review of capital controls and macroprudential policy in emerging economies," BoF Economics Review 1/2022, Bank of Finland.
    6. Elbadawi, Ibrahim & Amin, Magdi & Elobaid, Amir & Alhelo, Alzaki & Osman, Abdelrahman & Suliman, Kabbashi, 2023. "Post-Conflict Reconstruction, Stabilization, And Growth Agenda For Sudan," FDL Policy Notes 2312, CEPREMAP.
    7. Alexander Mihailov & Harun Nasir, 2020. "Sudden Stops, Productivity and the Optimal Level of International Reserves for Small Open Economies," Economics Discussion Papers em-dp2020-24, Department of Economics, University of Reading.
    8. Villalvazo, Sergio, 2024. "FDI flows and sudden stops in small open economies," Journal of Macroeconomics, Elsevier, vol. 79(C).
    9. J. Scott Davis & Michael B. Devereux & Changhua Yu, 2020. "Sudden Stops in Emerging Economies: The Role of World Interest Rates and Foreign Exchange Intervention," Globalization Institute Working Papers 405, Federal Reserve Bank of Dallas, revised 10 Sep 2021.
    10. Biljanovska, Nina & Vardoulakis, Alexandros P., 2024. "Sudden Stops and optimal policy in a two-agent economy," Journal of International Economics, Elsevier, vol. 148(C).
    11. Kónya, István & Váry, Miklós, 2024. "Which sectors go on when there is a sudden stop? An empirical analysis," Journal of International Money and Finance, Elsevier, vol. 146(C).
    12. Enrique G. Mendoza & Vincenzo Quadrini, "undated". "Unstable Prosperity:How Globalization Made the World Economy More Volatile," PIER Working Paper Archive 23-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    13. Juan Pablo Di Iorio & Javier García-Cicco, 2026. "Fiscal Theory of the Price Level in Small and Open Economies," Working Papers 390, Red Nacional de Investigadores en Economía (RedNIE).
    14. Davis, J. Scott & Devereux, Michael B. & Yu, Changhua, 2023. "Sudden stops and optimal foreign exchange intervention," Journal of International Economics, Elsevier, vol. 141(C).
    15. Gian Paulo Soave, 2023. "A panel threshold VAR with stochastic volatility-in-mean model: an application to the effects of financial and uncertainty shocks in emerging economies," Applied Economics, Taylor & Francis Journals, vol. 55(4), pages 397-431, January.
    16. Gemmi, Luca, 2024. "Rational overoptimism and limited liability," Journal of Monetary Economics, Elsevier, vol. 143(C).
    17. Andrea Fabiani & Martha López & José-Luis Peydró & Paul E. Soto, 2023. "Capital Controls, Corporate Debt and Real Effects: Evidence from Boom and Crisis Times," Borradores de Economia 1244, Banco de la Republica de Colombia.
    18. Thomas Cooley & Vincenzo Quadrini, 2020. "The twenty-fifth anniversary of "Frontiers of business cycle research"," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 1-7, August.
    19. Lee, David, 2023. "Modeling Collateralization and Its Economic Significance," MPRA Paper 118678, University Library of Munich, Germany.
    20. Richa Jain & Amlendu Dubey, 2025. "Dynamic treatment effect of capital controls on macroeconomic and financial stability in emerging market economies," Empirical Economics, Springer, vol. 68(3), pages 963-999, March.
    21. Gelos, Gaston & Gornicka, Lucyna & Koepke, Robin & Sahay, Ratna & Sgherri, Silvia, 2022. "Capital flows at risk: Taming the ebbs and flows," Journal of International Economics, Elsevier, vol. 134(C).
    22. Oskolkov, Aleksei & Sorá, Marcos, 2023. "Macroprudential policy for internal financial dollarization," Journal of International Economics, Elsevier, vol. 145(C).
    23. Mavrigiannakis, Konstantinos & Sakkas, Stelios, 2024. "EU sanctions on Russia and implications for a small open economy: the case of Cyprus," LSE Research Online Documents on Economics 125336, London School of Economics and Political Science, LSE Library.
    24. Javier Bianchi, 2022. "The Research Agenda: Javier Bianchi on Financial Crises and Prudential Policies," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 23(1), April.
    25. Liu, Siming & Ma, Chang & Shen, Hewei, 2024. "Sudden stop with local currency debt," Journal of International Economics, Elsevier, vol. 148(C).
    26. Esquivel, Carlos, 2024. "Underinvestment and capital misallocation under sovereign risk," Journal of International Economics, Elsevier, vol. 151(C).
    27. Villalvazo, Sergio, 2026. "Inequality and asset prices during Sudden Stops," Journal of Monetary Economics, Elsevier, vol. 157(C).
    28. Carlos Esteban Posada Posada, 2020. "Crecimiento y ciclos de la economía colombiana (2005 – 2019)," Documentos de Trabajo de Valor Público 18255, Universidad EAFIT.
    29. Bengui, Julien & Bianchi, Javier, 2022. "Macroprudential policy with leakages," Journal of International Economics, Elsevier, vol. 139(C).
    30. Vincenzo Quadrini & Enrique G. Mendoza, 2024. "Macro-Financial Implications of the Surging Global Demand (and Supply) of International Reserves," PIER Working Paper Archive 24-038, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    31. Zhou, Ye & Zhang, Wenbo & Che, Jinfang & Ma, Sichao, 2025. "The impact of U.S. monetary policy uncertainty on abnormal cross-border capital flows," Finance Research Letters, Elsevier, vol. 86(PE).
    32. Rui C. Mano & Silvia Sgherri, 2024. "One Shock, Many Policy Responses," Open Economies Review, Springer, vol. 35(2), pages 395-420, April.
    33. Chavleishvili, Sulkhan & Fahr, Stephan & Kremer, Manfred & Manganelli, Simone & Schwaab, Bernd, 2021. "A risk management perspective on macroprudential policy," Working Paper Series 2556, European Central Bank.
    34. Varraso, Paolo, 2025. "Fiscal policy design in collateral-constraint economies: The role of commitment," Journal of International Economics, Elsevier, vol. 158(C).
    35. Been-Lon Chen & Yunfang Hu & Kazuo Mino, 2020. "Capital Allocation and Wealth Distribution in a Global Economy with Financial Frictions," KIER Working Papers 1045, Kyoto University, Institute of Economic Research.
    36. Cecilia Dassatti & Rodrigo Lluberas & Pablo Ottonello & Diego J. Perez, 2026. "Sudden Stops under the Microscope: Evidence from Uruguay," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 74(1), pages 61-94, March.
    37. Cho, Yujeong & He, Yintao & Huang, Yiping & Wang, Jieru & Yu, Changhua, 2025. "Exchange rate regime and optimal policy: The case of China," Journal of International Money and Finance, Elsevier, vol. 152(C).
    38. Chen, Fengxian & Feng, Wenhua & Dong, Jingyi & Wang, Yuan, 2025. "The sudden stops of international capital flows and corporate financing constraints——An empirical analysis based on global listed companies," Journal of International Money and Finance, Elsevier, vol. 158(C).
    39. Nils M. Gornemann & Eugenio Rojas & Felipe Saffie, 2026. "Volatile Rates, Fragile Growth: Global Financial Risk and Productivity Dynamics," International Finance Discussion Papers 1434, Board of Governors of the Federal Reserve System (U.S.).

  7. Oliver de Groot & C. Bora Durdu & Enrique G. Mendoza, 2019. "Global v. Local Methods in the Analysis of Open-Economy Models with Incomplete Markets," Working Papers 201916, University of Liverpool, Department of Economics.

    Cited by:

    1. Enrique Mendoza & Sergio Villalvazo, 2020. "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 81-102, July.
    2. S. Boragan Aruoba & Pablo A. Cuba-Borda & Kenji Higa-Flores & Frank Schorfheide & Sergio Villalvazo, 2020. "Piecewise-Linear Approximations and Filtering for DSGE Models with Occasionally Binding Constraints," International Finance Discussion Papers 1272, Board of Governors of the Federal Reserve System (U.S.).

  8. Pablo D'Erasmo & Enrique G. Mendoza, 2019. "History Remembered: Optimal Sovereign Default on Domestic and External Debt," Working Papers 19-31, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Antonio Cusato Novelli, 2021. "Sovereign default, political instability and political fragmentation," Review of International Economics, Wiley Blackwell, vol. 29(4), pages 732-755, September.
    2. Ghulam, Yaseen, 2025. "A further examination of sovereign domestic and external debt defaults," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
    3. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    4. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2021. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of a Default," Development Working Papers 475, Centro Studi Luca d'Agliano, University of Milano.
    5. Minjie Deng, 2021. "Inequality, Taxation, and Sovereign Default Risk," Discussion Papers dp21-15, Department of Economics, Simon Fraser University.
    6. Bernardo Guimaraes & Lucas Tumkus, 2020. "On the costs of sovereign default in quantitative models," Discussion Papers 2021, Centre for Macroeconomics (CFM).
    7. Paola Di Casola & Spyridon Sichlimiris, 2025. "Domestic And External Sovereign Debt," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(3), pages 1207-1238, August.
    8. Cheng, Jiahui & Chang, Senfeng, 2025. "Rare disasters, local currency-denominated external debt and sovereign default risk," Economics Letters, Elsevier, vol. 250(C).
    9. Scholl, Almuth, 2024. "The politics of redistribution and sovereign default," Journal of International Economics, Elsevier, vol. 148(C).
    10. Dachraoui, Hajer & Smida, Mounir & Sebri, Maamar, 2020. "Role of capital flight as a driver of sovereign bond spreads in Latin American countries," International Economics, Elsevier, vol. 162(C), pages 15-33.
    11. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2024. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of Private or Official Debt Restructurings," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 292-334, March.
    12. Farzana Alamgir & Alok Johri, 2022. "International Sovereign Spread Differences and the Poverty of Nations," Department of Economics Working Papers 2022-06, McMaster University.
    13. Alexandre, Michel & Silva, Thiago Christiano & Michalak, Krzysztof & Rodrigues, Francisco Aparecido, 2023. "Does the default pecking order impact systemic risk? Evidence from Brazilian data," European Journal of Operational Research, Elsevier, vol. 309(3), pages 1379-1391.
    14. Tamon Asonuma & Hyungseok Joo, 2025. "Fiscal Consolidation and Sovereign Debt Restructurings," School of Economics Discussion Papers 0525, School of Economics, University of Surrey.
    15. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Public Investment (Capital)," School of Economics Discussion Papers 1123, School of Economics, University of Surrey.
    16. Mitchener, Kris & Trebesch, Christoph, 2021. "Sovereign Debt in the 21st Century: Looking Backward, Looking Forward," CEPR Discussion Papers 15935, Centre for Economic Policy Research.
    17. Olivier Accominotti & Thilo N H Albers & Kim Oosterlinck, 2024. "Selective Default Expectations," The Review of Financial Studies, Society for Financial Studies, vol. 37(6), pages 1979-2015.
    18. Demian Pouzo & Ignacio Presno, 2020. "Optimal Taxation with Endogenous Default under Incomplete Markets," International Finance Discussion Papers 1297, Board of Governors of the Federal Reserve System (U.S.).
    19. Roettger, Joost, 2019. "Discretionary monetary and fiscal policy with endogenous sovereign risk," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 44-66.

  9. Enrique G. Mendoza & Sergio Villalvazo, 2019. "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints," NBER Working Papers 26310, National Bureau of Economic Research, Inc.

    Cited by:

    1. Sergio Villalvazo, 2024. "Inequality and Asset Prices during Sudden Stops," International Finance Discussion Papers 1388r1, Board of Governors of the Federal Reserve System (U.S.), revised 17 Dec 2025.
    2. Guerra Vallejos, Ernesto & Bobenrieth Hochfarber, Eugenio & Bobenrieth Hochfarber, Juan & Wright, Brian D., 2021. "Solving dynamic stochastic models with multiple occasionally binding constraints," Economic Modelling, Elsevier, vol. 105(C).
    3. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    4. Schorfheide, Frank & Aruoba, Boragan & Cuba-Borda, Pablo & Hilga-Flores, Kenji & Villalvazo, Sergio, 2020. "Piecewise-Linear Approximations and Filtering for DSGE Models with Occasionally Binding Constraints," CEPR Discussion Papers 15388, Centre for Economic Policy Research.
    5. Villalvazo, Sergio, 2024. "FDI flows and sudden stops in small open economies," Journal of Macroeconomics, Elsevier, vol. 79(C).
    6. Biljanovska, Nina & Vardoulakis, Alexandros P., 2024. "Sudden Stops and optimal policy in a two-agent economy," Journal of International Economics, Elsevier, vol. 148(C).
    7. Oliver de Groot & Bora Durdu & Enrique G. Mendoza, 2020. "Approximately Right?: Global v. Local Methods for Open-Economy Models with Incomplete Markets," Finance and Economics Discussion Series 2020-006, Board of Governors of the Federal Reserve System (U.S.).
    8. Gianluca Benigno & Andrew T. Foerster & Christopher Otrok & Alessandro Rebucci, 2020. "Estimating Macroeconomic Models of Financial Crises: An Endogenous Regime-Switching Approach," Staff Reports 944, Federal Reserve Bank of New York.
    9. Dan Cao & Wenlan Luo & Guangyu Nie, 2023. "Global GDSGE Models," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 199-225, December.
    10. Rabitsch-Schilcher, Katrin & Marsal, Ales & Kaszab, Lorant, 2023. "From Linear to Nonlinear: Rethinking Inflation Dynamics in the Calvo Pricing Mechanism," Department of Economics Working Paper Series 350, WU Vienna University of Economics and Business.
    11. Alexis Derviz, 2023. "Foreign Exchange Implications of CBDCs and Their Integration via Bridge Coins," Working Papers 2023/7, Czech National Bank, Research and Statistics Department.
    12. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    13. Ales Marsal & Katrin Rabitsch & Lorant Kaszab, 2023. "Undesired Consequences of Calvo Pricing in a Non-linear World," Working and Discussion Papers WP 1/2023, Research Department, National Bank of Slovakia.
    14. Thorsten Drautzburg & Jesús Fernández-Villaverde & Pablo Guerrón-Quintana & Dick Oosthuizen, 2024. "Filtering with Limited Information," CESifo Working Paper Series 11243, CESifo.
    15. Knapp, Fabian, 2026. "Optimal Macroprudential Policy and Investment," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302415, Verein für Socialpolitik / German Economic Association, revised 2026.
    16. Santiago Camara & Maximo Sangiacomo, 2022. "Borrowing Constraints in Emerging Markets," Papers 2211.10864, arXiv.org.
    17. Bora Durdu & Sergio Villalvazo, 2024. "Nonlinear Effects of Loan-to-Value Constraints," Finance and Economics Discussion Series 2024-081, Board of Governors of the Federal Reserve System (U.S.).
    18. Oliver de Groot & C. Bora Durdu & Enrique G. Mendoza, 2019. "Global v. Local Methods in the Analysis of Open-Economy Models with Incomplete Markets," Working Papers 201916, University of Liverpool, Department of Economics.
    19. de Groot, Oliver & Durdu, C. Bora & Mendoza, Enrique G., 2025. "Why global and local solutions of open-economy models with incomplete markets differ and why it matters," Journal of International Economics, Elsevier, vol. 158(C).

  10. Enrique G. Mendoza & Eugenio I. Rojas, 2018. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," NBER Working Papers 24336, National Bureau of Economic Research, Inc.

    Cited by:

    1. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    2. Rojas, Eugenio & Saffie, Felipe, 2025. "A simple measure of Fisherian amplification with flow collateral constraints," Economics Letters, Elsevier, vol. 255(C).
    3. Carrasco, Alex & Florián Hoyle, David, 2025. "External shocks and FX intervention policy in financially dollarized economies," Journal of Macroeconomics, Elsevier, vol. 84(C).
    4. Javier García-Cicco, 2022. "Alternative Monetary-Policy Instruments and Limited Credibility: An Exploration," Working Papers 115, Red Nacional de Investigadores en Economía (RedNIE).
    5. Kuzman, Tanja & Lazarevic, Jelisaveta & Nedeljkovic, Milan, 2022. "Capital flows liberalisation and macroprudential policies: The effects on credit cycles in emerging economies," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 602-619.
    6. Biljanovska, Nina & Vardoulakis, Alexandros P., 2024. "Sudden Stops and optimal policy in a two-agent economy," Journal of International Economics, Elsevier, vol. 148(C).
    7. Boris Hofmann & Nikhil Patel & Steve Pak Yeung Wu, 2022. "Original sin redux: a model-based evaluation," BIS Working Papers 1004, Bank for International Settlements.
    8. Nakatani, Ryota, 2020. "Macroprudential Policy and the Probability of a Banking Crisis," MPRA Paper 101157, University Library of Munich, Germany.
    9. Flora Lutz & Leopold Zessner-Spitzenberg, 2019. "Sudden Stops and Reserve Accumulation in the Presence of International Liquidity Risk," Vienna Economics Papers vie1907, University of Vienna, Department of Economics.
    10. Bianchi, Javier & Coulibaly, Louphou, 2026. "A theory of fear of floating," Journal of Monetary Economics, Elsevier, vol. 157(C).
    11. Lutz, Flora & Zessner-Spitzenberg, Leopold, 2020. "Sudden Stops and Reserve Accumulation in the Presence of International Liquidity Risk," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224520, Verein für Socialpolitik / German Economic Association.
    12. Rojas, Eugenio & Saffie, Felipe, 2022. "Non-homothetic sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
    13. Pasricha, Gurnain K., 2022. "Estimated policy rules for capital controls," Journal of International Money and Finance, Elsevier, vol. 122(C).
    14. Ottonello, Pablo, 2021. "Optimal exchange-rate policy under collateral constraints and wage rigidity," Journal of International Economics, Elsevier, vol. 131(C).
    15. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    16. Oskolkov, Aleksei & Sorá, Marcos, 2023. "Macroprudential policy for internal financial dollarization," Journal of International Economics, Elsevier, vol. 145(C).
    17. Liu, Siming & Ma, Chang & Shen, Hewei, 2024. "Sudden stop with local currency debt," Journal of International Economics, Elsevier, vol. 148(C).
    18. Paolo Cavallino & Boris Hofmann, 2022. "Capital flows and monetary policy trade-offs in emerging market economies," BIS Working Papers 1032, Bank for International Settlements.
    19. Hidehiko Matsumoto, 2021. "Monetary and Macroprudential Policies under Dollar-Denominated Foreign Debt," IMES Discussion Paper Series 21-E-04, Institute for Monetary and Economic Studies, Bank of Japan.

  11. Franz Hamann & Enrique Mendoza & Paulina Restrepo-Echavarria, 2018. "Resource Curse or Blessing? Sovereign Risk in Emerging Economies," 2018 Meeting Papers 1235, Society for Economic Dynamics.

    Cited by:

    1. Galego Mendes,Arthur & Pennings,Steven Michael, 2020. "One Rule Fits All ? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can BePersistent: Theory and Evidence," Policy Research Working Paper Series 9400, The World Bank.
    2. Chen, Shiu-Sheng & Huang, Shiangtsz & Lin, Tzu-Yu, 2022. "How do oil prices affect emerging market sovereign bond spreads?," Journal of International Money and Finance, Elsevier, vol. 128(C).
    3. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    4. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    5. Cheuathonghua, Massaporn & de Boyrie, Maria E. & Pavlova, Ivelina & Wongkantarakorn, Jutamas, 2022. "Extreme risk spillovers from commodity indexes to sovereign CDS spreads of commodity dependent countries: A VAR quantile analysis," International Review of Financial Analysis, Elsevier, vol. 80(C).

  12. Franz Hamann, 2018. "Natural Resources and Sovereign Risk in Emerging Economies: A Curse and a Blessing," Working Papers 2018-32, Federal Reserve Bank of St. Louis, revised 15 Jun 2026.

    Cited by:

    1. Galego Mendes,Arthur & Pennings,Steven Michael, 2020. "One Rule Fits All ? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can BePersistent: Theory and Evidence," Policy Research Working Paper Series 9400, The World Bank.
    2. Juvenal, Luciana & Petrella, Ivan, 2024. "Unveiling the dance of commodity prices and the global financial cycle," Journal of International Economics, Elsevier, vol. 150(C).
    3. Gazzani, Andrea & Herrera, Vicente & Vicondoa, Alejandro, 2026. "The asymmetric effects of commodity price shocks in emerging economies," European Economic Review, Elsevier, vol. 183(C).
    4. Juvenal, Luciana & Petrella, Ivan, 2024. "Reprint of “Unveiling the dance of commodity prices and the global financial cycle”," Journal of International Economics, Elsevier, vol. 149(C).
    5. Liu, Jia & Baek, Ingul & Noh, Sanha, 2025. "Commodity terms of trade news and country spreads in emerging economies," Economics Letters, Elsevier, vol. 256(C).
    6. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    7. Esquivel, Carlos, 2025. "Sovereign risk and Dutch disease," Journal of Monetary Economics, Elsevier, vol. 149(C).
    8. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    9. Ma, Chang & Valencia, Fabián, 2024. "Welfare gains from market insurance: The case of Mexican oil price risk," Journal of International Money and Finance, Elsevier, vol. 142(C).
    10. Cheuathonghua, Massaporn & de Boyrie, Maria E. & Pavlova, Ivelina & Wongkantarakorn, Jutamas, 2022. "Extreme risk spillovers from commodity indexes to sovereign CDS spreads of commodity dependent countries: A VAR quantile analysis," International Review of Financial Analysis, Elsevier, vol. 80(C).

  13. Carrillo Julio A. & Mendoza Enrique G. & Nuguer Victoria & Roldán-Peña Jessica, 2017. "Tight Money-Tight Credit: Coordination Failure in the Conduct of Monetary and Financial Policies," Working Papers 2017-10, Banco de México.

    Cited by:

    1. Caterina Mendicino & Kalin Nikolov & Javier Suarez & Dominik Supera, 2018. "Bank Capital in the Short and in the Long Run," Working Papers wp2018_1807, CEMFI.
    2. Jelena Zivanovic, 2021. "An Optimal Macroprudential Policy Mix for Segmented Credit Markets," Staff Working Papers 21-31, Bank of Canada.
    3. Lyu, Juyi & Le, Vo Phuong Mai & Meenagh, David & Minford, Patrick, 2023. "UK monetary policy in an estimated DSGE model with financial frictions," Journal of International Money and Finance, Elsevier, vol. 130(C).
    4. Chokri Zehri & Fatma Zehri, 2025. "Coordination of macro-management policies to curtail credit growth," International Journal of Economic Policy Studies, Springer, vol. 19(1), pages 1-29, February.
    5. Malovaná, Simona & Hodula, Martin & Gric, Zuzana & Bajzík, Josef, 2023. "Macroprudential policy in central banks: Integrated or separate? Survey among academics and central bankers," Journal of Financial Stability, Elsevier, vol. 65(C).
    6. Agénor, Pierre-Richard & Jackson, Timothy P., 2022. "Monetary and macroprudential policy coordination with biased preferences," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    7. Marcella Lucchetta, 2023. "Understanding Monetary Policy: The Real Sector and Welfare," Working Papers 2023:01, Department of Economics, University of Venice "Ca' Foscari".
    8. Kim, Dohan, 2025. "The Asymmetric Bank Distress Amplifier of Recessions," Policy Research Working Paper Series 11170, The World Bank.
    9. Martin Hodula & Ngoc Anh Ngo, 2021. "Does Macroprudential Policy Leak? Evidence from Non-Bank Credit Intermediation in EU Countries," Working Papers 2021/5, Czech National Bank, Research and Statistics Department.
    10. Ferrari Minesso, Massimo & Pagliari, Maria Sole, 2025. "DSGE Nash: Solving Nash games in macro models," Journal of Economic Dynamics and Control, Elsevier, vol. 178(C).
    11. Shifu Jiang, 2022. "Optimal Credit, Monetary, and Fiscal Policy under Occasional Financial Frictions and the Zero Lower Bound," International Journal of Central Banking, International Journal of Central Banking, vol. 18(1), pages 151-197, March.
    12. Thitipat Chansriniyom & Mr. Natan P. Epstein & Valeriu Nalban, 2020. "The Monetary Policy Credibility Channel and the Amplification Effects in a Semi-structural Model," IMF Working Papers 2020/201, International Monetary Fund.
    13. Sim, Khai Zhi, 2023. "Monetary and fiscal coordination in preventing bank failures and financial contagion," Journal of Macroeconomics, Elsevier, vol. 75(C).
    14. De la Peña Rogelio, 2021. "Should monetary policy lean against the wind in a small-open economy? Revisiting the Tinbergen rule," Working Papers 2021-01, Banco de México.
    15. Hu, Xing & Yu, Shiwei & Fang, Xu & Ovaere, Marten, 2023. "Which combinations of renewable energy policies work better? Insights from policy text synergies in China," Energy Economics, Elsevier, vol. 127(PA).
    16. Agur, Itai, 2019. "Monetary and macroprudential policy coordination among multiple equilibria," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 192-209.
    17. Rochelle M. Edge & J. Nellie Liang, 2019. "New Financial Stability Governance Structures and Central Banks," Finance and Economics Discussion Series 2019-019, Board of Governors of the Federal Reserve System (U.S.).
    18. Lyu, Juyi & Le, Vo Phuong Mai & Meenagh, David & Minford, Patrick, 2021. "Macroprudential regulation in the post-crisis era: Has the pendulum swung too far?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    19. Woon Gyu Choi & Mr. David Cook, 2018. "Policy Conflicts and Inflation Targeting: The Role of Credit Markets," IMF Working Papers 2018/072, International Monetary Fund.
    20. Paola D'Orazio & Lilit Popoyan, 2020. "Taking up the climate change challenge: a new perspective on central banking," LEM Papers Series 2020/19, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    21. Stephen Millard & Margarita Rubio & Alexandra Varadi, 2021. "The macroprudential toolkit: effectiveness and interactions," Bank of England Staff Working Paper series 902, Bank of England.
    22. Shigenori Shiratsuka & Nao Sudo & Shingo Watanabe, 2019. "Central Bank Design under a Continued Low Inflation and Interest Rate Environment Summary of the 2019 BOJ-IMES Conference," IMES Discussion Paper Series 19-E-14, Institute for Monetary and Economic Studies, Bank of Japan.
    23. Ofori-Sasu, Daniel & Agbloyor, Elikplimi Komla & Nsafoah, Dennis & Asongu, Simplice A., 2024. "Banking behaviour and political business cycle in Africa: The role of independent regulatory policies of the central bank," The Journal of Economic Asymmetries, Elsevier, vol. 29(C).
    24. Maria Demertzis & Itai Agur, 2018. "Will macroprudential policy counteract monetary policy’s effects on financial stability?," Bruegel Working Papers 23907, Bruegel.
    25. Lama, Ruy & Medina, Juan Pablo, 2020. "Mundell meets Poole: Managing capital flows with multiple instruments in emerging economies," Journal of International Money and Finance, Elsevier, vol. 109(C).
    26. Pierre-Richard Agénor & Luiz Awazu Pereira da Silva, 2018. "Financial spillovers, spillbacks, and the scope for international macroprudential policy coordination," BIS Papers, Bank for International Settlements, number 97.
    27. Arroyo Marioli, Francisco & Becerra, Juan Sebastián & Solorza, Matías, 2022. "The credit channel in chile through the lens of a semi-structural model," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 3(2).
    28. Hiebert, Paul & Jaccard, Ivan & Schüler, Yves, 2018. "Contrasting financial and business cycles: Stylized facts and candidate explanations," Journal of Financial Stability, Elsevier, vol. 38(C), pages 72-80.
    29. Stephen Millard, & Margarita Rubio & Alexandra Varadi, 2020. "The impact of Covid-19 on productivity," Discussion Papers 2020/14, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).

  14. Pablo D'Erasmo & Enrique G. Mendoza, 2016. "Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default," Working Papers 16-23, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Juessen, Falko & Schabert, Andreas, 2013. "Fiscal Policy, Sovereign Default, and Bailouts," IZA Discussion Papers 7805, IZA Network @ LISER.
    2. Carmen M. Reinhart & Miguel Angel Santos, 2015. "From Financial Repression to External Distress: The Case of Venezuela," NBER Working Papers 21333, National Bureau of Economic Research, Inc.
    3. Xuan Wang, 2019. "When Do Currency Unions Benefit From Default ?," 2019 Papers pwa938, Job Market Papers.
    4. Michinao Okachi, 2019. "Sovereign Default Triggered by Inability to Repay Debt," IMES Discussion Paper Series 19-E-10, Institute for Monetary and Economic Studies, Bank of Japan.
    5. Antonio Cusato Novelli, 2021. "Sovereign default, political instability and political fragmentation," Review of International Economics, Wiley Blackwell, vol. 29(4), pages 732-755, September.
    6. Andrea Papadia & Claudio Schioppa, 2020. "Foreign Debt, Capital Controls, and Secondary Markets: Theory and Evidence from Nazi Germany," Working Papers ECARES 2020-36, ULB -- Universite Libre de Bruxelles.
    7. Cristina Arellano & Yan Bai, 2014. "Renegotiation Policies in Sovereign Defaults," Staff Report 495, Federal Reserve Bank of Minneapolis.
    8. Ghulam, Yaseen, 2025. "A further examination of sovereign domestic and external debt defaults," The North American Journal of Economics and Finance, Elsevier, vol. 76(C).
    9. Paczos, Wojtek; Shakhnov, Kirill, 2016. "Sovereign Debt Issuance and Selective Default," Economics Working Papers ECO2016/04, European University Institute.
    10. Filippo Brutti & Philip Sauré, 2016. "Repatriation Of Debt In The Euro Crisis," Journal of the European Economic Association, European Economic Association, vol. 14(1), pages 145-174, February.
    11. Filippo Brutti & Philip U. Sauré, 2014. "Repatriation of Debt in the Euro Crisis: Evidence for the Secondary Market Theory," Working Papers 2014-03, Swiss National Bank.
    12. Francesco Pappadà & Yanos Zylberberg, 2019. "Sovereign Default and Imperfect Tax Enforcement," CESifo Working Paper Series 7694, CESifo.
    13. Andreasen, Eugenia & Sandleris, Guido & Van der Ghote, Alejandro, 2019. "The political economy of sovereign defaults," Journal of Monetary Economics, Elsevier, vol. 104(C), pages 23-36.
    14. Trebesch, Christoph & Zabel, Michael, 2016. "The Output Costs of Hard and Soft Sovereign Default," CEPR Discussion Papers 11582, Centre for Economic Policy Research.
    15. Minjie Deng, 2021. "Inequality, Taxation, and Sovereign Default Risk," Discussion Papers dp21-15, Department of Economics, Simon Fraser University.
    16. Bocola, Luigi & Bornstein, Gideon & Dovis, Alessandro, 2019. "Quantitative sovereign default models and the European debt crisis," Journal of International Economics, Elsevier, vol. 118(C), pages 20-30.
    17. Francesco Pappadà & Yanos Zylberberg, 2025. "The Dynamics of Informality and Fiscal Policy under Sovereign Risk," Bristol Economics Discussion Papers 25/795, School of Economics, University of Bristol, UK.
    18. Paczos, Wojtek & Shakhnov, Kirill, 2022. "Defaulting on Covid debt," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    19. Enrico Mallucci, 2022. "Domestic Debt and Sovereign Defaults," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(6), pages 1741-1775, September.
    20. Scholl, Almuth, 2017. "The dynamics of sovereign default risk and political turnover," Journal of International Economics, Elsevier, vol. 108(C), pages 37-53.
    21. Martin Guzman & Domenico Lombardi, 2018. "Assessing the Appropriate Size of Relief in Sovereign Debt Restructuring," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2018-26, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    22. Aitor Erce & Enrico Mallucci, 2018. "Selective Sovereign Defaults," International Finance Discussion Papers 1239, Board of Governors of the Federal Reserve System (U.S.).
    23. Pablo D'Erasmo & Enrique Mendoza, 2011. "Optimal Domestic (and External) Sovereign Default," PIER Working Paper Archive 16-019, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 04 Aug 2016.
    24. Juan Carlos Hatchondo & Leonardo Martinez & Cesar Sosa-Padilla, 2014. "Debt Dilution and Sovereign Default Risk," Department of Economics Working Papers 2014-06, McMaster University.
    25. Scholl, Almuth, 2024. "The politics of redistribution and sovereign default," Journal of International Economics, Elsevier, vol. 148(C).
    26. Jeon, Kiyoung & Kabukcuoglu, Zeynep, 2018. "Income inequality and sovereign default," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 211-232.
    27. Francesco Pappada & Yanos Zylberberg, 2018. "Hanging off a cliff: fiscal consolidations and default risk," 2018 Meeting Papers 844, Society for Economic Dynamics.
    28. Farzana Alamgir & Alok Johri, 2022. "International Sovereign Spread Differences and the Poverty of Nations," Department of Economics Working Papers 2022-06, McMaster University.
    29. Francois R. Velde, 2016. "What We Learn from a Sovereign Debt Restructuring in France in 1721," Economic Perspectives, Federal Reserve Bank of Chicago, issue 5, pages 1-17.
    30. D’Erasmo, Pablo & Mendoza, Enrique G., 2021. "History remembered: Optimal sovereign default on domestic and external debt," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 969-989.
    31. Reinhart, Carmen M. & Trebesch, Christoph, 2015. "The Pitfalls of External Dependence: Greece, 1829-2015," Working Paper Series 15-065, Harvard University, John F. Kennedy School of Government.
    32. Phan, Toan, 2017. "A model of sovereign debt with private information," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 1-17.
    33. Mattia Picarelli, 2024. "Sovereign defaults at home and abroad," Working Papers 60, European Stability Mechanism.
    34. Falko Juessen & Ludger Linnemann & Andreas Schabert, 2014. "Default Risk Premia on Government Bonds in a Quantitative Macroeconomic Model," Working Paper Series in Economics 73, University of Cologne, Department of Economics.
    35. Xuan Wang, 2021. "Bankruptcy Codes and Risk Sharing of Currency Unions," Tinbergen Institute Discussion Papers 21-009/IV, Tinbergen Institute.
    36. Tran-Xuan, Monica, 2023. "Optimal redistributive policy in debt constrained economies," Journal of International Economics, Elsevier, vol. 144(C).
    37. D’Erasmo, P. & Mendoza, E.G. & Zhang, J., 2016. "What is a Sustainable Public Debt?," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2493-2597, Elsevier.
    38. Yasunori Fujita, 2015. "A new look at fiscal sustainability: an attempt to reveal the relationship between the sustainability of external debt and the inequality," Economics and Business Letters, Oviedo University Press, vol. 4(4), pages 161-165.
    39. Röhrs, Sigrid & Winter, Christoph, 2017. "Reducing government debt in the presence of inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 1-20.
    40. Engler, Philipp & Große Steffen, Christoph, 2016. "Sovereign risk, interbank freezes, and aggregate fluctuations," European Economic Review, Elsevier, vol. 87(C), pages 34-61.
    41. Aitor Erce & Enrico Mallucci & Mattia Picarelli, 2021. "A Journey in the History of Sovereign Defaults on Domestic Law Public Debt," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 2106, Departamento de Economía - Universidad Pública de Navarra.

  15. Enrique G. Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," NBER Working Papers 22868, National Bureau of Economic Research, Inc.

    Cited by:

    1. Carrillo, Julio A. & Mendoza, Enrique G. & Nuguer, Victoria & Roldán-Peña, Jessica, 2018. "Tight money - tight credit: coordination failure in the conduct of monetary and financial policies," Working Paper Series 2129, European Central Bank.
    2. Mariarosaria Comunale, 2017. "Synchronicity of real and financial cycles and structural characteristics in EU countries," Bank of Lithuania Occasional Paper Series 15, Bank of Lithuania.
    3. Yusuf Soner Baskaya & Ilhyock Shim & Philip Turner, 2024. "Financial development and the effectiveness of macroprudential and capital flow management measures," BIS Working Papers 1158, Bank for International Settlements.
    4. Ballouk, Hossein & Ben Jabeur, Sami & Challita, Sandra & Chen, Chaomei, 2024. "Financial stability: A scientometric analysis and research agenda," Research in International Business and Finance, Elsevier, vol. 70(PA).
    5. Diego Rojas & Carlos A. Vegh & Guillermo Vuletin, 2020. "The Macroeconomic Effects of Macroprudential Policy: Evidence from a Narrative Approach," NBER Working Papers 27687, National Bureau of Economic Research, Inc.
    6. Klingelhöfer, Jan & Sun, Rongrong, 2017. "Macroprudential Policy, Central Banks and Financial Stability: Evidence from China," MPRA Paper 79033, University Library of Munich, Germany.
    7. Liu, Renliang & Sheng, Liugang & Wang, Jian, 2023. "Faking trade for capital control evasion: Evidence from dual exchange rate arbitrage in China," Journal of International Money and Finance, Elsevier, vol. 138(C).
    8. Akaki Tsomaia, 2021. "Asset bubbles, financial sector, and current challenges to regulatory framework," International Economics and Economic Policy, Springer, vol. 18(4), pages 901-925, October.
    9. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    10. Chousakos, K. & Gorton, G., 2017. "Bank health post-crisis," Financial Stability Review, Banque de France, issue 21, pages 55-67, April.
    11. Rabitsch-Schilcher, Katrin & Marsal, Ales & Kaszab, Lorant, 2023. "From Linear to Nonlinear: Rethinking Inflation Dynamics in the Calvo Pricing Mechanism," Department of Economics Working Paper Series 350, WU Vienna University of Economics and Business.
    12. Nouy, D., 2017. "Safer than ever before? An assessment of the impact of regulation on banks’ resilience eight years on," Financial Stability Review, Banque de France, issue 21, pages 23-32, April.
    13. Donato Masciandaro, 2018. "Central Banks And Macroprudential Policies: Economics And Politics," BAFFI CAREFIN Working Papers 1878, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    14. Le Thanh Ha, 2025. "Deploying green macroprudential policies to promote environmental health: new findings from panel VAR for international database," Environment Systems and Decisions, Springer, vol. 45(3), pages 1-21, September.
    15. Fernando Arce & Julien Bengui & Javier Bianchi, 2023. "Overborrowing, Underborrowing, and Macroprudential Policy," Working Papers 798, Federal Reserve Bank of Minneapolis.
    16. Dikau, Simon & Volz, Ulrich, 2021. "Central bank mandates, sustainability objectives and the promotion of green finance," Ecological Economics, Elsevier, vol. 184(C).
    17. Ales Marsal & Katrin Rabitsch & Lorant Kaszab, 2023. "Undesired Consequences of Calvo Pricing in a Non-linear World," Working and Discussion Papers WP 1/2023, Research Department, National Bank of Slovakia.
    18. Woon Gyu Choi & Mr. David Cook, 2018. "Policy Conflicts and Inflation Targeting: The Role of Credit Markets," IMF Working Papers 2018/072, International Monetary Fund.
    19. Ouyang, Alice Y. & Guo, Shen, 2019. "Macro-prudential policies, the global financial cycle and the real exchange rate," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 147-167.
    20. Nitzan Tzur-Ilan, 2019. "Macroprudential Policy: Implementation, Effects, And Lessons," Israel Economic Review, Bank of Israel, vol. 17(1), pages 39-71.
    21. Wang, Jian & Wu, Jason, 2021. "Is capital flow management effective? Evidence based on U.S. monetary policy shocks," Journal of International Money and Finance, Elsevier, vol. 118(C).
    22. Yahyaei, Hamid & Singh, Abhay & Smith, Tom, 2024. "International transmission of monetary policy shocks and the bank lending channel: Evidence from Australia," Journal of Financial Stability, Elsevier, vol. 75(C).
    23. Gete, Pedro & Melkadze, Givi, 2020. "A quantitative model of international lending of last resort," Journal of International Economics, Elsevier, vol. 123(C).
    24. Mariarosaria Comunale, 2020. "New synchronicity indices between real and financial cycles: Is there any link to structural characteristics and recessions in European Union countries?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 25(4), pages 617-641, October.
    25. Enrique G. Mendoza & Eugenio Rojas, 2019. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(1), pages 174-214, March.

  16. Paulina Restrepo-Echavarria & Enrique Mendoza & Franz Hamann, 2016. "Commodity Prices and Sovereign Default: A New Perspective on The Harberger-Laursen-Metzler Effect," 2016 Meeting Papers 806, Society for Economic Dynamics.

    Cited by:

    1. Thomas McGregor, 2019. "Pricing Sovereign Debt in Resource-Rich Economies," IMF Working Papers 2019/240, International Monetary Fund.
    2. Elkhan Sadik-Zada, Andrea Gatto & Andrea Gatto, 2019. "Determinants of the Public Debt and the Role of the Natural Resources: A Cross-Country Analysis," Working Papers 2019.04, Fondazione Eni Enrico Mattei.
    3. Maria A. Arias & Paulina Restrepo-Echavarria, 2016. "Sovereign Default and Economic Performance in Oil-Producing Economies," Economic Synopses, Federal Reserve Bank of St. Louis, issue 20, pages 1-2.

  17. Enrique Mendoza & Bora Durdu & Oliver de Groot, 2016. "Global v. Local Methods in the Quantitative Analysis of Open-Economy Models with Incomplete Markets," 2016 Meeting Papers 595, Society for Economic Dynamics.

    Cited by:

    1. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.

  18. Enrique G. Mendoza & Javier Bianchi & Chenxin Liu, 2016. "Fundamentals News, Global Liquidity and Macroprudential Policy," PIER Working Paper Archive 15-043, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 05 Dec 2016.

    Cited by:

    1. Herreño, Juan & Rondón-Moreno, Carlos, 2025. "Overborrowing and systemic externalities in the business cycle under imperfect information," Journal of International Economics, Elsevier, vol. 157(C).
    2. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    3. Enrique Mendoza & Sergio Villalvazo, 2020. "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 81-102, July.
    4. Nie, Owen, 2022. "The information content of capital controls," Journal of International Money and Finance, Elsevier, vol. 127(C).
    5. Bassanin, Marzio & Faia, Ester & Patella, Valeria, 2021. "Ambiguity attitudes and the leverage cycle," Journal of International Economics, Elsevier, vol. 129(C).
    6. Ali, Amjad, 2022. "Determining Pakistan's Financial Dependency: The Role of Financial Globalization and Corruption," MPRA Paper 116097, University Library of Munich, Germany.
    7. Villalvazo, Sergio, 2024. "FDI flows and sudden stops in small open economies," Journal of Macroeconomics, Elsevier, vol. 79(C).
    8. Flemming, Jean & L'Huillier, Jean-Paul & Piguillem, Facundo, 2019. "Macro-prudential taxation in good times," Journal of International Economics, Elsevier, vol. 121(C).
    9. Ballouk, Hossein & Ben Jabeur, Sami & Challita, Sandra & Chen, Chaomei, 2024. "Financial stability: A scientometric analysis and research agenda," Research in International Business and Finance, Elsevier, vol. 70(PA).
    10. Diego Rojas & Carlos A. Vegh & Guillermo Vuletin, 2020. "The Macroeconomic Effects of Macroprudential Policy: Evidence from a Narrative Approach," NBER Working Papers 27687, National Bureau of Economic Research, Inc.
    11. Julien Bengui & Javier Bianchi, 2018. "Macroprudential Policy with Leakages," Working Papers 754, Federal Reserve Bank of Minneapolis.
    12. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 498-527, August.
    13. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
    14. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    15. Matthieu Darracq Paries & Jenny Korner & Niki Papadopoulou, 2019. "Empowering Central Bank Asset Purchases: The Role of Financial Policies," Working Papers 2019-1, Central Bank of Cyprus.
    16. Li, Zhisheng & Lin, Bingxuan & Liu, Zhouyi & Yüksel, H. Zafer, 2025. "Unpacking the crisis: Impact of COVID-19 on global equity flows," Journal of Financial Stability, Elsevier, vol. 81(C).
    17. Fidel Sebastian-Perez & Ohad Raveh & Rick van der Ploeg, 2021. "Oil discoveries and protectionism: role of news effects," Tinbergen Institute Discussion Papers 21-047/VIII, Tinbergen Institute.
    18. Akihiko Ikeda, 2020. "Currency Swap Agreements and Financial Crises in Small Open Economies," KIER Working Papers 1033, Kyoto University, Institute of Economic Research.
    19. Seoane, Hernán D. & Yurdagul, Emircan, 2019. "Trend shocks and sudden stops," Journal of International Economics, Elsevier, vol. 121(C).
    20. Juan M. Hernandez & Enrique G. Mendoza, 2017. "Optimal v. simple financial policy rules in a production economy with “liability dollarization”," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 35(82), pages 25-39.
    21. Enrique G. Mendoza, 2017. "Política macroprudencial: promesas y desafíos," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(2), pages 042-088, August.
    22. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    23. Nie,Owen, 2020. "The Information Content of Capital Controls," Policy Research Working Paper Series 9343, The World Bank.
    24. Alok Johri & Shahed K. Khan & Cesar Sosa-Padilla, 2018. "Interest Rate Uncertainty and Sovereign Default Risk," Department of Economics Working Papers 2018-17, McMaster University.
    25. Akıncı, Özge & Chahrour, Ryan, 2018. "Good news is bad news: Leverage cycles and sudden stops," Journal of International Economics, Elsevier, vol. 114(C), pages 362-375.
    26. Gelos, Gaston & Gornicka, Lucyna & Koepke, Robin & Sahay, Ratna & Sgherri, Silvia, 2022. "Capital flows at risk: Taming the ebbs and flows," Journal of International Economics, Elsevier, vol. 134(C).
    27. Oskolkov, Aleksei & Sorá, Marcos, 2023. "Macroprudential policy for internal financial dollarization," Journal of International Economics, Elsevier, vol. 145(C).
    28. Chen, Yang & Feng, Yun & Liu, Qing & Zhang, Zhipeng, 2025. "Does benchmark-driven investment amplify the impact of the global financial cycle on emerging markets?," Pacific-Basin Finance Journal, Elsevier, vol. 89(C).
    29. Ouyang, Alice Y. & Guo, Shen, 2019. "Macro-prudential policies, the global financial cycle and the real exchange rate," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 147-167.
    30. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Managing Capital Flows in the Presence of External Risks," International Finance Discussion Papers 1213, Board of Governors of the Federal Reserve System (U.S.).
    31. Rick Van der Ploeg & Fidel Perez-Sebastian & Ohad Raveh, 2019. "Oil Discoveries and Protectionism," Economics Series Working Papers 895, University of Oxford, Department of Economics.
    32. Rui C. Mano & Silvia Sgherri, 2024. "One Shock, Many Policy Responses," Open Economies Review, Springer, vol. 35(2), pages 395-420, April.
    33. Kolasa, Marcin & Wesołowski, Grzegorz, 2023. "Quantitative easing in the US and financial cycles in emerging markets," Journal of Economic Dynamics and Control, Elsevier, vol. 149(C).
    34. Gete, Pedro & Melkadze, Givi, 2020. "A quantitative model of international lending of last resort," Journal of International Economics, Elsevier, vol. 123(C).
    35. Wong, Siu Kei & Cheung, Ka Shing & Deng, Kuang Kuang & Chau, Kwong Wing, 2021. "Policy responses to an overheated housing market: Credit tightening versus transaction taxes," Journal of Asian Economics, Elsevier, vol. 75(C).
    36. Reyes-Heroles, Ricardo & Tenorio, Gabriel, 2020. "Macroprudential policy in the presence of external risks," Journal of International Economics, Elsevier, vol. 126(C).
    37. Ikeda, Akihiko, 2017. "Trade balance volatility and consumption structures in small open economies," Economics Letters, Elsevier, vol. 156(C), pages 114-117.
    38. Wang, Bo & Xiao, Yang, 2024. "Measuring spatial impacts and tracking cross-border risk," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 50-84.
    39. Wang, Bo & Xiao, Yang, 2023. "The term effect of financial cycle variables on GDP growth," Journal of International Money and Finance, Elsevier, vol. 139(C).
    40. Jin Lau, 2026. "Sentiment volatility and financial constraints in stock returns," Review of Financial Economics, John Wiley & Sons, vol. 44(1), January.
    41. Enrique G. Mendoza & Eugenio Rojas, 2019. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(1), pages 174-214, March.

  19. Pablo D'Erasmo & Enrique Mendoza, 2016. "Optimal Domestic (And External) Sovereign Default," Working Papers id:11228, eSocialSciences.

    Cited by:

    1. Marina Azzimonti & Vincenzo Quadrini, 2019. "International spillovers and `ex-ante' efficient bailouts," 2019 Meeting Papers 318, Society for Economic Dynamics.
    2. Marina Azzimonti & Vincenzo Quadrini, 2019. "International Spillovers and Bailouts," Department of Economics Working Papers 19-06, Stony Brook University, Department of Economics.
    3. Jeon, Kiyoung & Kabukcuoglu, Zeynep, 2018. "Income inequality and sovereign default," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 211-232.
    4. Keiichiro Kobayashi & Kozo Ueda, 2022. "Secular Stagnation and Low Interest Rates under the Fear of a Government Debt Crisis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(4), pages 779-824, June.
    5. Di Casola, Paola & Sichlimiris, Spyridon, 2017. "Domestic and External Sovereign Debt," Working Paper Series 345, Sveriges Riksbank (Central Bank of Sweden).

  20. Victoria Nuguer & Jessica Roldan-Pena & Enrique Mendoza & Julio Carrillo, 2016. "When the Central Bank Meets the Financial Authority: Strategic Interactions and Institutional Design," 2016 Meeting Papers 1461, Society for Economic Dynamics.

    Cited by:

    1. Caterina Mendicino & Kalin Nikolov & Javier Suarez & Dominik Supera, 2018. "Bank Capital in the Short and in the Long Run," Working Papers wp2018_1807, CEMFI.
    2. Jelena Zivanovic, 2021. "An Optimal Macroprudential Policy Mix for Segmented Credit Markets," Staff Working Papers 21-31, Bank of Canada.
    3. Shifu Jiang, 2022. "Optimal Credit, Monetary, and Fiscal Policy under Occasional Financial Frictions and the Zero Lower Bound," International Journal of Central Banking, International Journal of Central Banking, vol. 18(1), pages 151-197, March.
    4. Agur, Itai, 2019. "Monetary and macroprudential policy coordination among multiple equilibria," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 192-209.
    5. Rochelle M. Edge & J. Nellie Liang, 2019. "New Financial Stability Governance Structures and Central Banks," Finance and Economics Discussion Series 2019-019, Board of Governors of the Federal Reserve System (U.S.).
    6. Lyu, Juyi & Le, Vo Phuong Mai & Meenagh, David & Minford, Patrick, 2021. "Macroprudential regulation in the post-crisis era: Has the pendulum swung too far?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    7. Woon Gyu Choi & Mr. David Cook, 2018. "Policy Conflicts and Inflation Targeting: The Role of Credit Markets," IMF Working Papers 2018/072, International Monetary Fund.
    8. Paola D'Orazio & Lilit Popoyan, 2020. "Taking up the climate change challenge: a new perspective on central banking," LEM Papers Series 2020/19, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    9. Stephen Millard & Margarita Rubio & Alexandra Varadi, 2021. "The macroprudential toolkit: effectiveness and interactions," Bank of England Staff Working Paper series 902, Bank of England.
    10. Francisco Arroyo Marioli & Juan Sebastián Becerra & Matías Solorza, 2021. "The Credit Channel Through the Lens of a Semi- Structural Model," Working Papers Central Bank of Chile 911, Central Bank of Chile.
    11. Shigenori Shiratsuka & Nao Sudo & Shingo Watanabe, 2019. "Central Bank Design under a Continued Low Inflation and Interest Rate Environment Summary of the 2019 BOJ-IMES Conference," IMES Discussion Paper Series 19-E-14, Institute for Monetary and Economic Studies, Bank of Japan.
    12. Maria Demertzis & Itai Agur, 2018. "Will macroprudential policy counteract monetary policy’s effects on financial stability?," Bruegel Working Papers 23907, Bruegel.
    13. Pierre-Richard Agénor & Luiz Awazu Pereira da Silva, 2018. "Financial spillovers, spillbacks, and the scope for international macroprudential policy coordination," BIS Papers, Bank for International Settlements, number 97.
    14. Hiebert, Paul & Jaccard, Ivan & Schüler, Yves, 2018. "Contrasting financial and business cycles: Stylized facts and candidate explanations," Journal of Financial Stability, Elsevier, vol. 38(C), pages 72-80.
    15. Stephen Millard, & Margarita Rubio & Alexandra Varadi, 2020. "The impact of Covid-19 on productivity," Discussion Papers 2020/14, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).

  21. Javier Bianchi & Enrique G. Mendoza, 2015. "Phases of Global Liquidity, Fundamentals News, and the Design of Macroprudential Policy," BIS Working Papers 505, Bank for International Settlements.

    Cited by:

    1. Indrani Manna, 2018. "Can We Still Lean Against the Wind?," Open Economies Review, Springer, vol. 29(2), pages 223-259, April.
    2. Charles Nolan & Plutarchos Sakellaris & John D. Tsoukalas, 2016. "Optimal Bailout of Systemic Banks," Working Papers 201607, Athens University Of Economics and Business, Department of Economics.
    3. Pozo, Jorge, 2024. "Excessive bank risk-taking in an infinite horizon economy," Journal of Financial Stability, Elsevier, vol. 73(C).
    4. Stelios Arvanitis & Alexandros Louka, 2015. "Martingale Transforms with Mixed Stable Limits and the QMLE for Conditionally Heteroskedastic Models," Working Papers 201508, Athens University Of Economics and Business, Department of Economics.
    5. Pozo, Jorge, 2019. "Capital Flows and Bank Risk-Taking," Working Papers 2019-017, Banco Central de Reserva del Perú.
    6. Jhuvesh Sobrun & Philip Turner, 2015. "Bond markets and monetary policy dilemmas for the emerging markets," BIS Working Papers 508, Bank for International Settlements.

  22. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.

    Cited by:

    1. Roberto Tamborini & Matteo Tomaselli, 2019. "The determinants of austerity in the European Union 2010-16," DEM Working Papers 2019/6, Department of Economics and Management.
    2. Wickens, Michael R. & Heer, Burkhard, 2017. "Population Aging, Social Security and Fiscal Limits," CEPR Discussion Papers 11978, Centre for Economic Policy Research.
    3. Ugo Panizza & Andrew Powell, 2023. "Reducing Public Debt: What Works Best?," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 9, pages 197-222, Inter-American Development Bank.
    4. Eduardo Cavallo & Eduardo Fernández Arias, 2023. "Strong External Balance Sheets for Resilient Economies," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 2, pages 5-36, Inter-American Development Bank.
    5. João Ayres & Anna Gelpern & Andrew Powell, 2023. "Sovereign Debt Restructuring: In Need of a New Approach," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 10, pages 223-254, Inter-American Development Bank.
    6. Claudio Borio & Marco Jacopo Lombardi & Fabrizio Zampolli, 2016. "Fiscal sustainability and the financial cycle," BIS Working Papers 552, Bank for International Settlements.
    7. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    8. Aizenman, Joshua & Eldén, William & Jinjarak, Yothin & Uddin, Gazi Salah & Widholm, Frida, 2026. "Spillovers of U.S. fiscal challenges: The global impact of U.S. fiscal dominance concerns on interest rates in emerging and developed markets," Economic Modelling, Elsevier, vol. 154(C).
    9. Leandro Andrián & Oscar Mauricio Valencia, 2023. "Past the Tipping Point? Assessing Debt Overhang in Latin America and the Caribbean," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 8, pages 183-196, Inter-American Development Bank.
    10. Roy Havemann & Hylton Hollander, 2022. "Fiscal policy in times of fiscal stress: Or what to do when r > g," WIDER Working Paper Series wp-2022-52, World Institute for Development Economic Research (UNU-WIDER).
    11. Alba, Carlos & McKnight, Stephen, 2022. "Laffer curves in emerging market economies: The role of informality," Journal of Macroeconomics, Elsevier, vol. 72(C).
    12. Lars P. Feld & Martin Beznoska & Oliver Holtemöller & Hans-Peter Burghof & Ulrike Neyer & Clemens Fuest & Friedrich Heinemann & Thomas König, 2020. "Rekordschulden gegen Corona-Folgen – was kann sich der Staat leisten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(08), pages 03-32, August.
    13. Lars P. Feld & Ekkehard A. Köhler & Julia Wolfinger, 2018. "Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects: Evidence from German Federal States," CESifo Working Paper Series 6976, CESifo.
    14. Enrique Mendoza, 2015. "EconomicDynamics Interviews Enrique Mendoza on Sovereign Debt," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 16(1), April.
    15. Nikolay Hristov & Oliver Hülsewig & Benedikt Kolb, 2024. "Macroprudential Capital Regulation and Fiscal Balances in the Euro Area," CESifo Working Paper Series 10968, CESifo.
    16. Alloza, Mario & Andrés, Javier & Pérez, Javier J. & Rojas, Juan A., 2020. "Implicit public debt thresholds: An operational proposal," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1408-1424.
    17. Oronde Small & Leanora Brown & Gustavo Canavire‐Bacarreza, 2020. "The Fiscal Policy Response To Public Debt In Developing Countries," Contemporary Economic Policy, Western Economic Association International, vol. 38(1), pages 155-165, January.
    18. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    19. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    20. María Cecilia Acevedo & Vanessa Alviarez & Joaquin Lennon Sabatini, 2023. "Managing Private Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 11, pages 255-284, Inter-American Development Bank.
    21. Lankester-Campos, Valerie & Loaiza-Marín, Kerry & Monge-Badilla, Carlos, 2020. "Assessing public debt sustainability for Costa Rica using the fiscal reaction function," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    22. Kheifets, Igor L. & Phillips, Peter C.B., 2023. "Fully modified least squares cointegrating parameter estimation in multicointegrated systems," Journal of Econometrics, Elsevier, vol. 232(2), pages 300-319.
    23. Economides, George & Koliousi, Giota & Miaouli, Natasha & Philippopoulos, Apostolis, 2025. "From debt arithmetic to fiscal sustainability and fiscal rules: Taking stock and policy lessons," The Journal of Economic Asymmetries, Elsevier, vol. 31(C).
    24. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    25. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis, 2022. "The ECB's policy, the Recovery Fund and the importance of trust and fiscal corrections: The case of Greece," Economic Modelling, Elsevier, vol. 112(C).
    26. Ameni Mtibaa & Foued Badr Gabsi, 2025. "Fiscal Consolidation and Debt Sustainability in Latin America and the Caribbean: Evidence from a Panel Threshold Logit Model," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(5), pages 16870-16900, November.
    27. Alberola, Enrique & Cheng, Gong & Consiglio, Andrea & Zenios, Stavros A., 2023. "Unconventional monetary policy and debt sustainability in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 69(C).
    28. José Luis Peydró & Hernán Rincón-Castro & Miguel Sarmiento & Alejandro Granados, 2025. "Wealth Taxes and Firms’ Capital Structures: Credit Supply and Real Effects," Borradores de Economia 1316, Banco de la Republica de Colombia.
    29. Olumide Olusegun Olaoye & Phillip A. Olomola, 2023. "Sub‐Saharan Africa's rising public debt stock: Is there a cause for concern?," South African Journal of Economics, Economic Society of South Africa, vol. 91(1), pages 85-115, March.
    30. K. R. Shanmugam & P.S. Renjith, 2023. "Sustainability and Threshold Value of Public Debt of Centre and All State Governments in India," Working Papers 2023-240, Madras School of Economics,Chennai,India.
    31. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
    32. Jawaria Zahid & Atif Khan Jadoon & Bisma Hamza & Muhammad Ali, 2024. "Macroeconomics Determinants of Fiscal Sustainability in the Asian Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 193-201.
    33. Juan Manuel Hernández & Andrew Powell & Oscar Mauricio Valencia, 2023. "Debt Sustainability: More Important than Ever," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 5, pages 95-122, Inter-American Development Bank.
    34. Medina, Juan Pablo, 2021. "Mining development and macroeconomic spillovers in Chile," Resources Policy, Elsevier, vol. 70(C).
    35. Enrique Alberola-Ila & Gong Cheng & Andrea Consiglio & Stavros A. Zenios, 2022. "Debt sustainability and monetary policy: the case of ECB asset purchases," BIS Working Papers 1034, Bank for International Settlements.
    36. Marina Azzimonti & Vincenzo Quadrini, 2019. "International spillovers and `ex-ante' efficient bailouts," 2019 Meeting Papers 318, Society for Economic Dynamics.
    37. Emilio Congregado & Silviano Carmen Díaz-Roldán & Vicente Esteve, 2023. "Deficit sustainability and the Fiscal Theory of the Price Level: the case of Italy, 1861-2020," Working Papers 2301, Department of Applied Economics II, Universidad de Valencia.
    38. Xue, Jianpo & Yip, Chong K., 2018. "Home production, balanced-budget taxation and economic (in)stability," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 231-242.
    39. Roch, Francisco & Uhlig, Harald, 2018. "The dynamics of sovereign debt crises and bailouts," Journal of International Economics, Elsevier, vol. 114(C), pages 1-13.
    40. Hyejin Ko, 2020. "Measuring fiscal sustainability in the welfare state: fiscal space as fiscal sustainability," International Economics and Economic Policy, Springer, vol. 17(2), pages 531-554, May.
    41. Liontos, George & Philippopoulos, Apostolis, 2023. "Who benefits from international fiscal cooperation? The role of cross-country asymmetries," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    42. Okwoche Princewill U. & Iheonu Chimere O., 2021. "Determinants of fiscal effort in sub-Saharan African countries: Does conflict matter?," Economics and Business Review, Paradigm, vol. 7(2), pages 50-73, June.
    43. Stavros A. Zenios & Andrea Consiglio & Marialena Athanasopoulou & Edmund Moshammer & Angel Gavilan & Aitor Erce, 2021. "Risk Management for Sustainable Sovereign Debt Financing," Operations Research, INFORMS, vol. 69(3), pages 755-773, May.
    44. Marina Azzimonti & Vincenzo Quadrini, 2019. "International Spillovers and Bailouts," Department of Economics Working Papers 19-06, Stony Brook University, Department of Economics.
    45. K. R. Shanmugam & P.S. Renjith, 2022. "Empirical Analysis on Sustainability of Public Debt in Indian States," Working Papers 2022-235, Madras School of Economics,Chennai,India.
    46. Cecilia CIOCÎRLAN & Bianca Roxana SALAGEANU (ȘOLDAN) & Andreea STANCEA & Victor CIUCIUC, 2024. "Macroeconomic Prospects for Public Finance Management Sustainability: An Econometric Approach for Debt in Central and Eastern European Countries," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 5(6), pages 54-67, June.
    47. György Molnár & Gábor Dániel Soós & Balázs Világi, 2017. "Fiscal Policy and the Business Cycle," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 16(4), pages 58-85.
    48. Ludger Schuknecht & Christoph A. Schaltegger & Michele Salvi & Jan Schnellenbach & Thomas Lenk & Christian Bender & Mario Hesse & Gert G. Wagner & Stefan Korioth & Klaus Gründler & Philipp Heil & Nikl, 2021. "Zankapfel Schuldenbremse: Bewährtes Instrument auch in Krisenzeiten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(04), pages 03-30, April.
    49. Rai da Silva Chicoli & Siegfried Bender, 2019. "Estimation of maximum debt for emerging countries: An analysis by fiscal reaction function," Working Papers, Department of Economics 2019_44, University of São Paulo (FEA-USP).
    50. Economides, George & Koliousi, Giota & Miaouli, Natasha & Philippopoulos, Apostolis, 2024. "From debt arithmetic to fiscal sustainability and fiscal rules: taking stock and policy lessons," LSE Research Online Documents on Economics 122241, London School of Economics and Political Science, LSE Library.
    51. Andrew Powell & Oscar Mauricio Valencia, 2023. "The Debt Conundrum," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 1, pages 1-4, Inter-American Development Bank.
    52. Maebayashi, Noritaka, 2021. "The pace of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," MPRA Paper 112593, University Library of Munich, Germany, revised 30 Feb 2022.
    53. Feld, Lars P., 2018. "The quest for fiscal rules," Freiburg Discussion Papers on Constitutional Economics 18/09, Walter Eucken Institut e.V..
    54. Ohnsorge, Franziska & Kose, M. Ayhan & Sugawara, Naotaka, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," CEPR Discussion Papers 14439, Centre for Economic Policy Research.
    55. Vicente Esteve & María A. Prats, 2022. "Testing explosive bubbles with time-varying volatility: The case of the Spanish public debt, 1850?2021," Working Papers 2205, Department of Applied Economics II, Universidad de Valencia.
    56. Andrea Consiglio & Akis Kikas & Odysseas P. Michaelides & Stavros A. Zenios, 2024. "Auditing Public Debt Using Risk Management," Interfaces, INFORMS, vol. 54(2), pages 103-126, March.
    57. Angelos Angelopoulos & George Economides & George Liontos & Apostolis Philippopoulos & Stelios Sakkas, 2022. "Public Redistributive Policies in General Equilibrium: an application to Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 177, Hellenic Observatory, LSE.
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    82. Khansa Zaman & Muhammad Saeed Rana & Umer Iftikhar, 2019. "A Multilevel Analysis of Job Demands and Intention to Resign Through Perceived Service Recovery Performance," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 67-82, June.
    83. Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2018. "Balanced‐Budget Rules and Aggregate Instability: The Role of Endogenous Capital Utilization," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1669-1709, December.
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    88. Leopoldo Avellán & Arturo Galindo & Giulia Lotti, 2023. "Official Creditors: Providing More than Money," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 7, pages 161-182, Inter-American Development Bank.
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  23. Javier Bianchi & Enrique G Mendoza, 2015. "Optimal time-consistent macroprudential policy," BIS Working Papers 516, Bank for International Settlements.

    Cited by:

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    2. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Interest Rate Volatility and Sudden Stops : An Empirical Investigation," International Finance Discussion Papers 1209, Board of Governors of the Federal Reserve System (U.S.).
    3. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
    4. Johannes Matschke, 2021. "Macroprudential Policy Interlinkages," Research Working Paper RWP 21-10, Federal Reserve Bank of Kansas City.
    5. Nicolas E. Magud & Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "Capital Controls: Myth and Reality--A Portfolio Balance Approach," CEMA Working Papers 608, China Economics and Management Academy, Central University of Finance and Economics.
    6. Herreño, Juan & Rondón-Moreno, Carlos, 2025. "Overborrowing and systemic externalities in the business cycle under imperfect information," Journal of International Economics, Elsevier, vol. 157(C).
    7. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    8. Ghironi, Fabio & Ozhan, Galip Kemal, 2025. "Interest rate uncertainty as a policy tool?," Journal of International Economics, Elsevier, vol. 158(C).
    9. Rebucci, Alessandro & Ma, Chang, 2019. "Capital Controls: A Survey of the New Literature," CEPR Discussion Papers 14186, Centre for Economic Policy Research.
    10. Suarez, Javier & Sánchez Serrano, Antonio, 2018. "Approaching non-performing loans from a macroprudential angle," Report of the Advisory Scientific Committee 7, European Systemic Risk Board.
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    42. Jelisaveta Lazarevic & Tanja Kuzman & Milan Nedeljkovic, 2022. "Credit cycles and macroprudential policies in emerging market economies," Oeconomia Copernicana, Institute of Economic Research, vol. 13(3), pages 633-666, September.
    43. Julian A. Parra-Polania & Carmina O. Vargas, 2025. "Debt Taxes During Crises, a Blessing in Disguise?," Annals of Economics and Finance, Society for AEF, vol. 26(2), pages 707-730, November.
    44. Charles Nolan & Plutarchos Sakellaris & John D. Tsoukalas, 2016. "Optimal Bailout of Systemic Banks," Working Papers 201607, Athens University Of Economics and Business, Department of Economics.
    45. Ernesto Pasten, 2020. "Prudential Policies and Bailouts: A Delicate Interaction," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 38, pages 181-197, October.
    46. Ricardo J. Caballero & Alp Simsek, 2017. "A Risk-centric Model of Demand Recessions and Speculation," NBER Working Papers 23614, National Bureau of Economic Research, Inc.
    47. Dávila, Eduardo & Walther, Ansgar, 2020. "Does size matter? Bailouts with large and small banks," Journal of Financial Economics, Elsevier, vol. 136(1), pages 1-22.
    48. Enrique G. Mendoza & Vincenzo Quadrini, "undated". "Unstable Prosperity:How Globalization Made the World Economy More Volatile," PIER Working Paper Archive 23-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    49. Chokri Zehri, 2020. "Capital controls to manage foreign exchange reserves and foreign debts," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(1), pages 271-294.
    50. Guo, Si & Pei, Yun & Xie, Zoe, 2022. "A dynamic model of fiscal decentralization and public debt accumulation," Journal of Public Economics, Elsevier, vol. 212(C).
    51. Pozo, Jorge, 2023. "The effects of countercyclical leverage buffers on macroeconomic and financial stability," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 194-217.
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    55. Anusha Chari & Karlye Dilts Stedman & Kristin J. Forbes, 2021. "Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle," Research Working Paper RWP 21-16, Federal Reserve Bank of Kansas City.
    56. Mikkelsen, Jakob & Poeschl, Johannes, 2019. "Banking Panic Risk and Macroeconomic Uncertainty," MPRA Paper 94729, University Library of Munich, Germany.
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    Cited by:

    1. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    2. Gabriel Chodorow-Reich & Loukas Karabarbounis & Rohan Kekre, 2019. "The Macroeconomics of the Greek Depression," Working Papers 758, Federal Reserve Bank of Minneapolis.
    3. Eijffinger, Sylvester & Uras, Burak & Kobielarz, Michal, 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," CEPR Discussion Papers 10459, Centre for Economic Policy Research.
    4. Victoria Nuguer & Jessica Roldan-Pena & Enrique Mendoza & Julio Carrillo, 2016. "When the Central Bank Meets the Financial Authority: Strategic Interactions and Institutional Design," 2016 Meeting Papers 1461, Society for Economic Dynamics.
    5. Enrique Mendoza, 2015. "EconomicDynamics Interviews Enrique Mendoza on Sovereign Debt," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 16(1), April.
    6. Stéphane Auray & Aurélien Eyquem & Paul Gomme, 2018. "Debt Hangover in the Aftermath of the Great Recession," Working Papers halshs-01942719, HAL.
    7. Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2019. "Capital Income Taxation and Aggregate Instability," Vanderbilt University Department of Economics Working Papers 19-00007, Vanderbilt University Department of Economics.
    8. Matteo Cacciatore & Nora Traum, 2020. "Trade Flows and Fiscal Multipliers," NBER Working Papers 27652, National Bureau of Economic Research, Inc.
    9. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
    10. Pablo D'Erasmo & Enrique G. Mendoza, 2018. "History Remembered: Optimal Sovereign Default on Domestic and External Debt," NBER Working Papers 25073, National Bureau of Economic Research, Inc.
    11. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    12. Filippo Balestrieri & Mr. Suman S Basu, 2018. "An Imperfect Financial Union With Heterogeneous Regions," IMF Working Papers 2018/205, International Monetary Fund.
    13. Enrique Mendoza, 2017. "Optimal Domestic (and External) Sovereign Default," 2017 Meeting Papers 279, Society for Economic Dynamics.
    14. Tesar, Linda & Mendoza, Enrique & Rojas, Eugenio, 2021. "A Macroeconomic Model of Healthcare Saturation, Inequality & the Output-Pandemia Tradeoff," CEPR Discussion Papers 15846, Centre for Economic Policy Research.
    15. Carlos Rondón-Moreno, 2022. "Debt and Taxes: Optimal Fiscal Consolidation in the Small Open Economy," Working Papers Central Bank of Chile 941, Central Bank of Chile.
    16. Christopher L. House & Linda L. Tesar, 2015. "Greek Budget Realities: No Easy Option," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 329-347.
    17. Christos Shiamptanis, 2019. "Tax Austerity: Does it Avert Solvency Crises?," LCERPA Working Papers bm0126, Laurier Centre for Economic Research and Policy Analysis, revised 2021.
    18. Christine Ma & Chung Tran, 2017. "Fiscal Space under Demographic Shift," IMES Discussion Paper Series 17-E-07, Institute for Monetary and Economic Studies, Bank of Japan.
    19. Falilou Fall & Debra Bloch & Jean-Marc Fournier & Peter Hoeller, 2015. "Prudent debt targets and fiscal frameworks," OECD Economic Policy Papers 15, OECD Publishing.
    20. Sokolovskyi, Dmytro, 2020. "Is Race to the bottom is modeled as Prisoner's dilemma?," MPRA Paper 99404, University Library of Munich, Germany.
    21. Stéphane Auray & Aurélien Eyquem & Paul Gomme, 2016. "A Tale Of Tax Policies In Open Economies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(4), pages 1299-1333, November.
    22. Kabukçuoğlu, Ayşe, 2017. "The winners and losers of tax reform: An assessment under financial integration," Journal of Economic Dynamics and Control, Elsevier, vol. 85(C), pages 90-122.
    23. Diego Anzoategui, 2019. "Sovereign Debt and the Effects of Fiscal Austerity," 2019 Meeting Papers 441, Society for Economic Dynamics.
    24. Alexandra Ferreira‐Lopes & Luís Filipe Martins & Ruben Espanhol, 2020. "The relationship between tax rates and tax revenues in eurozone member countries ‐ exploring the Laffer curve," Bulletin of Economic Research, Wiley Blackwell, vol. 72(2), pages 121-145, April.
    25. Tamon Asonuma & Hyungseok Joo, 2025. "Fiscal Consolidation and Sovereign Debt Restructurings," School of Economics Discussion Papers 0525, School of Economics, University of Surrey.
    26. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Public Investment (Capital)," School of Economics Discussion Papers 1123, School of Economics, University of Surrey.
    27. Paul Gomme, 2021. "Labor Market and Fiscal Policy During and After the Coronavirus," Working Papers 21003, Concordia University, Department of Economics.
    28. Alejandro Cunat & Szabolcs Deak & Marco Maffezzoli, 2022. "Tax Cuts in Open Economies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 83-108, July.
    29. Christopher L. House & Linda L. Tesar, 2015. "Greek Budget Realities: No Easy Options," NBER Working Papers 21688, National Bureau of Economic Research, Inc.
    30. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    31. Anzoategui, Diego, 2022. "Sovereign spreads and the effects of fiscal austerity," Journal of International Economics, Elsevier, vol. 139(C).
    32. Pablo D'Erasmo & Enrique Mendoza, 2015. "Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default," PIER Working Paper Archive 15-031, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 27 Aug 2015.
    33. Curatola, Giuliano & Donadelli, Michael & Gioffré, Alessandro & Grüning, Patrick, 2015. "Austerity, fiscal uncertainty, and economic growth: Insights from fiscally weak EU countries," SAFE Working Paper Series 56, Leibniz Institute for Financial Research SAFE, revised 2015.
    34. Paul Gomme, 2022. "US Fiscal policy during and after the coronavirus," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(S1), pages 358-378, February.
    35. Xiaoshan Chen & Campbell Leith & Matta Ricci, 2018. "Debt Sustainability and Welfare along an Optimal Laffer Curve," Working Papers 2018_01, Business School - Economics, University of Glasgow.
    36. Arbex, Marcelo & Barros, Luiz A. & Corrêa, Márcio V., 2024. "Pandemic, inequality and public health: A quantitative analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 97(C).
    37. Jocelyn Boussard & Benoît Campagne, 2017. "Fiscal policy coordination in a monetary union at the zero lower bound," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 494-495-4, pages 65-90.
    38. Chen, Xiaoshan & Leith, Campbell & Ricci, Mattia, 2023. "Evaluating fiscal policy reforms using the fiscal frontier," Journal of Economic Dynamics and Control, Elsevier, vol. 155(C).
    39. Janeba, Eckhard & Todtenhaupt, Maximilian, 2018. "Fiscal competition and public debt," Journal of Public Economics, Elsevier, vol. 168(C), pages 47-61.

  25. Enrique Mendoza, 2013. "Optimal Domestic Sovereign Default," 2013 Meeting Papers 347, Society for Economic Dynamics.

    Cited by:

    1. Joost Rцttger, 2014. "Monetary and Fiscal Policy with Sovereign Default," Working Paper Series in Economics 74, University of Cologne, Department of Economics.
    2. Vincenzo Quadrini, 2017. "The external risks of financial integration for emerging economies," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 35(82), pages 18-24.
    3. Xiaoshan Chen & Campbell Leith & Matta Ricci, 2018. "Debt Sustainability and Welfare along an Optimal Laffer Curve," Working Papers 2018_01, Business School - Economics, University of Glasgow.

  26. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Interest Rate Volatility and Sudden Stops : An Empirical Investigation," International Finance Discussion Papers 1209, Board of Governors of the Federal Reserve System (U.S.).
    2. Philippe Martin & Thomas Philippon, 2014. "Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone," NBER Working Papers 20572, National Bureau of Economic Research, Inc.
    3. Bhandari, Pranjul & Frankel, Jeffrey, 2017. "Nominal GDP targeting for developing countries," Research in Economics, Elsevier, vol. 71(3), pages 491-506.
    4. Romelli, Davide & Terra, Cristina & Vasconcelos, Enrico, 2018. "Current account and real exchange rate changes: The impact of trade openness," European Economic Review, Elsevier, vol. 105(C), pages 135-158.
    5. Salih Fendoglu, 2016. "Credit cycles and macroprudential policy framework in emerging countries," BIS Papers chapters, in: Bank for International Settlements (ed.), Macroprudential policy, volume 86, pages 17-25, Bank for International Settlements.
    6. Gourinchas, Pierre-Olivier & Philippon, Thomas & Vayanos, Dimitri, 2016. "The analytics of the Greek crisis: celebratory centenary issue," LSE Research Online Documents on Economics 67368, London School of Economics and Political Science, LSE Library.
    7. Gurbachan Singh, 2015. "Possible Market for Credit Lines to Mitigate Sudden Stop: Theory and Policy," South Asian Journal of Macroeconomics and Public Finance, , vol. 4(2), pages 205-232, December.
    8. Scheubel, Beatrice & Herrala, Risto & Stracca, Livio, 2016. "What do we know about the global financial safety net? Data, rationale and possible evolution," VfS Annual Conference 2016 (Augsburg): Demographic Change 145676, Verein für Socialpolitik / German Economic Association.
    9. Beatrice D. Scheubel & Livio Stracca & Tille Cedric, 2019. "The Global Financial Cycle and Capital Flow Episodes: A Wobbly Link?," CESifo Working Paper Series 7967, CESifo.
    10. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Managing Capital Flows in the Presence of External Risks," International Finance Discussion Papers 1213, Board of Governors of the Federal Reserve System (U.S.).
    11. Pierre-Olivier Gourinchas & Thomas Philippon & Dimitri Vayanos, 2016. "The Analytics of the Greek Crisis," NBER Working Papers 22370, National Bureau of Economic Research, Inc.
    12. Fendoğlu, Salih, 2017. "Credit cycles and capital flows: Effectiveness of the macroprudential policy framework in emerging market economies," Journal of Banking & Finance, Elsevier, vol. 79(C), pages 110-128.
    13. Reyes-Heroles, Ricardo & Tenorio, Gabriel, 2020. "Macroprudential policy in the presence of external risks," Journal of International Economics, Elsevier, vol. 126(C).
    14. Mr. Anton Korinek & Mr. Jonathan Kreamer, 2013. "The Redistributive Effects of Financial Deregulation," IMF Working Papers 2013/247, International Monetary Fund.
    15. Gete, Pedro & Gómez, Juan-Pedro, 2015. "Compensation contracts and fire sales," Journal of Financial Stability, Elsevier, vol. 18(C), pages 154-171.

  27. Javier Bianchi & Ms. Emine Boz & Mr. Enrique G. Mendoza, 2012. "Macro-prudential Policy in a Fisherian Model of Financial Innovation," IMF Working Papers 2012/181, International Monetary Fund.

    Cited by:

    1. Herreño, Juan & Rondón-Moreno, Carlos, 2025. "Overborrowing and systemic externalities in the business cycle under imperfect information," Journal of International Economics, Elsevier, vol. 157(C).
    2. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    3. McNelis, Paul D., 2016. "Optimal policy rules at home, crisis and quantitative easing abroad," BOFIT Discussion Papers 15/2016, Bank of Finland Institute for Emerging Economies (BOFIT).
    4. Başkaya, Yusuf Soner & Shim, Ilhyock & Turner, Philip, 2025. "Financial development and the effectiveness of macroprudential and capital flow management measures," Journal of Banking & Finance, Elsevier, vol. 178(C).
    5. Michael Funke & Rongrong Sun & Linxu Zhu, 2018. "The Credit Risk of Chinese Households – A Micro-Level Assessment," CFDS Discussion Paper Series 2018/3, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    6. Mendoza, Enrique & Boz, Emine, 2010. "Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis," CEPR Discussion Papers 7967, Centre for Economic Policy Research.
    7. Diego Rojas & Carlos A. Vegh & Guillermo Vuletin, 2020. "The Macroeconomic Effects of Macroprudential Policy: Evidence from a Narrative Approach," NBER Working Papers 27687, National Bureau of Economic Research, Inc.
    8. de la Torre, Augusto & Ize, Alain, 2013. "The foundations of macroprudential regulation : a conceptual roadmap," Policy Research Working Paper Series 6575, The World Bank.
    9. Julien Bengui & Javier Bianchi, 2018. "Macroprudential Policy with Leakages," Working Papers 754, Federal Reserve Bank of Minneapolis.
    10. Ebrahimi Kahou, Mahdi & Lehar, Alfred, 2017. "Macroprudential policy: A review," Journal of Financial Stability, Elsevier, vol. 29(C), pages 92-105.
    11. Yi, Xingjian & Liu, Sheng & Wu, Zhouheng, 2022. "What drives credit expansion worldwide?——An empirical investigation with long-term cross-country panel data," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 225-242.
    12. Gabriele Galati & Richhild Moessner, 2018. "What Do We Know About the Effects of Macroprudential Policy?," Economica, London School of Economics and Political Science, vol. 85(340), pages 735-770, October.
    13. Juan Pablo Medina Guzman & Mr. Jorge Roldos, 2014. "Monetary and Macroprudential Policies to Manage Capital Flows," IMF Working Papers 2014/030, International Monetary Fund.
    14. Bianchi, Javier & Liu, Chenxin & Mendoza, Enrique G., 2016. "Fundamentals news, global liquidity and macroprudential policy," Journal of International Economics, Elsevier, vol. 99(S1), pages 2-15.
    15. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    16. Kiley, Michael T. & Sim, Jae, 2017. "Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 232-259.
    17. Scheubel, Beatrice & Stracca, Livio & Tille, Cédric, 2019. "The global financial cycle and capital flow episodes: a wobbly link?," Working Paper Series 2337, European Central Bank.
    18. Oliver de Groot & Bora Durdu & Enrique G. Mendoza, 2020. "Approximately Right?: Global v. Local Methods for Open-Economy Models with Incomplete Markets," Finance and Economics Discussion Series 2020-006, Board of Governors of the Federal Reserve System (U.S.).
    19. Cordella, Tito & Pienknagura, Samuel, 2013. "Macro prudential policies from a micro prudential angle," Policy Research Working Paper Series 6721, The World Bank.
    20. Dávila, Eduardo & Walther, Ansgar, 2021. "Prudential policy with distorted beliefs," ESRB Working Paper Series 130, European Systemic Risk Board.
    21. Wei Xiong & Alp Simsek & Markus Brunnermeier, 2014. "A Welfare Criterion for Models with Distorted Beliefs," 2014 Meeting Papers 1418, Society for Economic Dynamics.
    22. Lane, Philip R. & McQuade, Peter, 2013. "Domestic credit growth and international capital flows," Working Paper Series 1566, European Central Bank.
    23. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    24. Stefan Avdjiev & Sebnem Kalemli-Ozcan & Luis Servén, 2018. "Gross capital flows by banks, corporates and sovereigns," BIS Working Papers 760, Bank for International Settlements.
    25. Takáts, Előd & Temesvary, Judit, 2021. "How does the interaction of macroprudential and monetary policies affect cross-border bank lending?," Journal of International Economics, Elsevier, vol. 132(C).
    26. Federico Bennett & Giselle Montamat & Francisco Roch, 2022. "Robust Optimal Macroprudential Policy," Working Papers 141, Red Nacional de Investigadores en Economía (RedNIE).
    27. Bilge Erten & Anton Korinek & José Antonio Ocampo, 2019. "Capital Controls: Theory and Evidence," NBER Working Papers 26447, National Bureau of Economic Research, Inc.
    28. Basak, Deepal & Murray, Alexander & Zhao, Yunhui, 2017. "Does Financial Tranquility Call for More Stringent Regulation?," MPRA Paper 81373, University Library of Munich, Germany.
    29. Pozo, Jorge, 2019. "Bank Risk-Taking in a Small Open Economy," Working Papers 2019-016, Banco Central de Reserva del Perú.
    30. Philip Lane, 2013. "International Capital Flows and Domestic Financial Conditions: Lessons for Emerging Asia," The Institute for International Integration Studies Discussion Paper Series iiisdp438, IIIS.
    31. Doriane Intungane, 2025. "Macroprudential Policies and Global Banking," Open Economies Review, Springer, vol. 36(3), pages 705-744, July.
    32. Fagan, Gabriel & McNelis, Paul D., 2020. "Sudden stops in the Euro Area: Does monetary union matter?," Journal of International Money and Finance, Elsevier, vol. 108(C).
    33. Tack Yun, 2012. "Recent Issues in Emerging-Economies Macroeconomics," CAEPR Working Papers 2013-001, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    34. Javier Bianchi & Enrique G. Mendoza, 2013. "Optimal Time-Consistent Macroprudential Policy," NBER Working Papers 19704, National Bureau of Economic Research, Inc.
    35. Reyes-Heroles, Ricardo & Tenorio, Gabriel, 2020. "Macroprudential policy in the presence of external risks," Journal of International Economics, Elsevier, vol. 126(C).
    36. Lambertini, Luisa & Mendicino, Caterina & Teresa Punzi, Maria, 2013. "Leaning against boom–bust cycles in credit and housing prices," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1500-1522.
    37. Gabriel Fagan & Paul McNelis, 2014. "TARGET Balances and Macroeconomic Adjustment to Sudden Stops in the Euro Area," The Institute for International Integration Studies Discussion Paper Series iiisdp465, IIIS, revised Dec 2014.
    38. Oliver de Groot & C. Bora Durdu & Enrique G. Mendoza, 2019. "Global v. Local Methods in the Analysis of Open-Economy Models with Incomplete Markets," Working Papers 201916, University of Liverpool, Department of Economics.
    39. Deepal Basak & Mr. Yunhui Zhao, 2018. "Does Financial Tranquility Call for Stringent Regulation?," IMF Working Papers 2018/123, International Monetary Fund.
    40. Cordella, Tito & Pienknagura, Samuel, 2020. "Macroprudential policies from a microprudential angle: A note," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).

  28. Julien Bengui & Enrique G. Mendoza & Vincenzo Quadrini, 2012. "Capital Mobility and International Sharing of Cyclical Risk," NBER Working Papers 18372, National Bureau of Economic Research, Inc.

    Cited by:

    1. Li, Zhongda & Liu, Lu, 2018. "Financial globalization, domestic financial freedom and risk sharing across countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 55(C), pages 151-169.
    2. Epstein, Brendan & Mukherjee, Rahul & Ramnath, Shanthi, 2016. "Taxes and international risk sharing," Journal of International Economics, Elsevier, vol. 102(C), pages 310-326.
    3. Aryan Eftekhari & Simon Scheidegger, 2022. "High-Dimensional Dynamic Stochastic Model Representation," Papers 2202.06555, arXiv.org.
    4. Islamaj,Ergys & Kose,Ayhan, 2021. "What Types of Capital Flows Help Improve International Risk Sharing ?," Policy Research Working Paper Series 9846, The World Bank.
    5. Alexios Anagnostopoulos & Orhan Erem Atesagaoglu & Elisa Faraglia & Chryssi Giannitsarou, 2019. "Foreign Direct Investment as a Determinant of Cross-Country Stock Market Comovement," Discussion Papers 1912, Centre for Macroeconomics (CFM).
    6. Jean-François Rouillard, 2015. "Financial frictions, interest rate dynamics, and international business cycle synchronization," Cahiers de recherche 15-12, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    7. Hill, Brian & Michalski, Tomasz, 2018. "Risk versus ambiguity and international security design," Journal of International Economics, Elsevier, vol. 113(C), pages 74-105.
    8. Charles Olivier Mao Takongmo, 2021. "DSGE models, detrending, and the method of moments," Bulletin of Economic Research, Wiley Blackwell, vol. 73(1), pages 67-99, January.
    9. Hevia, Constantino & Servén, Luis, 2018. "Assessing the degree of international consumption risk sharing," Journal of Development Economics, Elsevier, vol. 134(C), pages 176-190.
    10. Taiwo, Shakirudeen & Uwillingiye, Josine & Osei-Assibey, Kwame, 2026. "Macroeconomic fluctuations in Sub-Saharan Africa: Role of external shocks," Resources Policy, Elsevier, vol. 113(C).
    11. Bahadir, Berrak & Lastrapes, William D., 2015. "Emerging market economies and the world interest rate," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 1-28.

  29. C. Bora Durdu & Enrique G. Mendoza & Marco E. Terrones, 2012. "On the Solvency of Nations: Cross-Country Evidence on the Dynamics of External Adjustment," Koç University-TUSIAD Economic Research Forum Working Papers 1218, Koc University-TUSIAD Economic Research Forum.

    Cited by:

    1. Monastiriotis, Vassilis & Tunali, Cigdem Borke, 2020. "The sustainability of external imbalances in the European periphery," LSE Research Online Documents on Economics 101540, London School of Economics and Political Science, LSE Library.
    2. Osman F. Abbasoğlu & Ayşe İmrohoroğlu & Ayşe Kabukçuoğlu, 2019. "The Turkish Current Account Deficit," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 515-536, January.
    3. António Afonso & José Alves & José Carlos Coelho & Jamel Saadaoui, 2025. "Fiscal and External Sustainability: A Two-Step Time-Varying Granger Causality Assessment," CESifo Working Paper Series 11694, CESifo.
    4. Juan Carlos Cuestas & Luis A. Gil-Alana & Paulo José Regis, 2015. "The Sustainability of European External Debt: What have We Learned?," Review of International Economics, Wiley Blackwell, vol. 23(3), pages 445-468, August.
    5. Baumann, Ursel & Albuquerque, Bruno & Krustev, Georgi, 2014. "Has US household deleveraging ended? a model-based estimate of equilibrium debt," Working Paper Series 1643, European Central Bank.
    6. Krause, Michael & Hoffmann, Mathias & Tillmann, Peter, 2014. "International Capital Flows, External Assets, and Output Volatility," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100508, Verein für Socialpolitik / German Economic Association.
    7. António Afonso & Florence Huart & João Tovar Jalles & Piotr Stanek, 2017. "Assessing the Sustainability of External Imbalances in the European Union," Working Papers Department of Economics 2017/10, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    8. Vermeulen, Robert & de Haan, Jakob, 2014. "Net foreign asset (com)position: Does financial development matter?," Journal of International Money and Finance, Elsevier, vol. 43(C), pages 88-106.
    9. Michael Bleaney & Mo Tian, 2014. "Global Imbalances and the External Solvency of Nations," Discussion Papers 14/02, University of Nottingham, CREDIT.
    10. Navarro-Ortiz, Josep & Sapena, Juan, 2020. "Is external debt sustainable? A probabilistic approach," Economic Modelling, Elsevier, vol. 93(C), pages 142-153.
    11. João Barata R. B. Barroso, 2014. "External Sustainability and Gross Positions: are Brazilian external accounts sustainable?," Working Papers Series 362, Central Bank of Brazil, Research Department.
    12. Mallick, Lingaraj, 2025. "Re-assessment of sustainability of current account deficit in India: Insights from threshold cointegration and NARDL analysis," Research in Economics, Elsevier, vol. 79(2).
    13. Martin D D Evans, 2015. "External Balances, Trade and Financial Conditions," Working Papers gueconwpa~15-15-08, Georgetown University, Department of Economics.
    14. Oscar Bajo-Rubio & Carmen D Roldᮠ & Esteve, 2014. "Sustainability of external imbalances in the OECD countries," Applied Economics, Taylor & Francis Journals, vol. 46(4), pages 441-449, February.
    15. Shafik Hebous & Alexander Klemm & Saila Stausholm, 2020. "Revenue Implications of Destination-Based Cash-Flow Taxation," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(4), pages 848-874, December.
    16. Michael Bleaney & Mo Tian, 2019. "Net foreign assets and current account balances," Discussion Papers 2019/06, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    17. Michael Bleaney & Mo Tian, 2013. "Net Foreign Assets, Real Exchange Rates and Net Exports Revisited," Discussion Papers 13/04, University of Nottingham, CREDIT.
    18. Singh Tarlok, 2017. "Sustainability of Current Account Deficits in the OECD Countries: Evidence from Panel Data Estimators," Global Economy Journal, De Gruyter, vol. 17(4), pages 1-16, December.
    19. Andrieş, Alin Marius & Chiper, Alexandra Maria & Ongena, Steven & Sprincean, Nicu, 2024. "External wealth of nations and systemic risk," Journal of Financial Stability, Elsevier, vol. 70(C).
    20. Tarlok Singh, 2017. "Are Current Account Deficits in the OECD Countries Sustainable? Robust Evidence from Time-Series Estimators," The International Trade Journal, Taylor & Francis Journals, vol. 31(1), pages 29-64, January.
    21. Albuquerque Bruno & Baumann Ursel & Krustev Georgi, 2015. "US household deleveraging following the Great Recession – a model-based estimate of equilibrium debt," The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(1), pages 255-307, January.
    22. D’Erasmo, P. & Mendoza, E.G. & Zhang, J., 2016. "What is a Sustainable Public Debt?," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2493-2597, Elsevier.
    23. António Afonso & Florence Huart & João Tovar Jalles & Piotr Stanek, 2020. "Long-run relationship between exports and imports: current account sustainability tests for the EU," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 19(2), pages 155-170, May.
    24. Michael Bleaney & Mo Tian, 2014. "Exchange Rates and Trade Balance Adjustment: A Multi-Country Empirical Analysis," Open Economies Review, Springer, vol. 25(4), pages 655-675, September.
    25. Siranova, Maria, 2024. "Statistical omissions as the stabilizing factor of net foreign assets in EU countries," International Economics, Elsevier, vol. 178(C).
    26. Juan Carlos Cuestas & Luis A. Gil-Alana & Paolo Jose Regis, 2014. "On the changes in the sustainability of European external debt: what have we learned," Bank of Estonia Working Papers wp2014-3, Bank of Estonia, revised 10 Oct 2014.

  30. Enrique Mendoza & Marco Terrones, 2012. "An Anatomy of Credit Booms and their Demise," Working Papers Central Bank of Chile 670, Central Bank of Chile.

    Cited by:

    1. Shen, Chung-Hua & Lee, Yen Hsien & Wu, Meng-Wen & Guo, Na, 2016. "Does housing boom lead to credit boom or is it the other way around? The case of China," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 349-367.
    2. Gherghina Rodica & Câmpeanu Emilia-Mioara & Georgescu Georgiana-Camelia & Grecu Robert-Adrian, 2025. "Determinants of Credit Growth in Selected Central and Eastern European Countries," Proceedings of the International Conference on Business Excellence, Paradigm, vol. 19(1), pages 2911-2919.
    3. Francesco Lamperti & Valentina Bosetti & Andrea Roventini & Massimo Tavoni & Tania Treibich, 2021. "Three green financial policies to address climate risks," Post-Print hal-04103920, HAL.
    4. Hu, Yunzhi, 2022. "A dynamic theory of bank lending, firm entry, and investment fluctuations," Journal of Economic Theory, Elsevier, vol. 204(C).
    5. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
    6. Mr. Marco Arena & Serpil Bouza & Ms. Era Dabla-Norris & Mrs. Kerstin Gerling & Lamin Njie, 2015. "Credit Booms and Macroeconomic Dynamics: Stylized Facts and Lessons for Low-Income Countries," IMF Working Papers 2015/011, International Monetary Fund.
    7. Park,Haelim & Ruiz Ortega,Claudia & Tressel,Thierry, 2015. "Determinants of long-term versus short-term bank credit in EU countries," Policy Research Working Paper Series 7436, The World Bank.
    8. Daniel Gurara & Mr. Kangni R Kpodar & Mr. Andrea F Presbitero & Dawit Tessema, 2020. "On the Capacity to Absorb Public Investment: How Much is Too Much?," IMF Working Papers 2020/048, International Monetary Fund.
    9. Helios Herrera & Guillermo Ordoñez & Christoph Trebesch, 2014. "Political Booms, Financial Crises," NBER Working Papers 20346, National Bureau of Economic Research, Inc.
    10. Callum Jones & Mr. Pau Rabanal, 2021. "Credit Cycles, Fiscal Policy, and Global Imbalances," IMF Working Papers 2021/043, International Monetary Fund.
    11. Borsi, Mihály Tamás, 2018. "Fiscal multipliers across the credit cycle," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 135-151.
    12. Octavio Fernández-Amador & Martin Gächter & Friedrich Sindermann, 2016. "Finance-augmented business cycles: A robustness check," Economics Bulletin, AccessEcon, vol. 36(1), pages 132-144.
    13. Neuhann, Daniel, 2016. "Macroeconomic effects of secondary market trading," ESRB Working Paper Series 25, European Systemic Risk Board.
    14. Puspa D. Amri & Eric M. P. Chiu & Jacob M. Meyer & Greg M. Richey & Thomas D. Willett, 2022. "Correlates of Crisis Induced Credit Market Discipline: The Roles of Democracy, Veto Players, and Government Turnover," Open Economies Review, Springer, vol. 33(1), pages 61-87, February.
    15. Giovanni Dosi & Giorgio Fagiolo & Mauro Napoletano & Andrea Roventini & Tania Treibich, 2014. "Fiscal and monetary policies in complex evolving economies," Working Papers hal-03460560, HAL.
    16. Akinci, Ozge & Olmstead-Rumsey, Jane, 2018. "How effective are macroprudential policies? An empirical investigation," Journal of Financial Intermediation, Elsevier, vol. 33(C), pages 33-57.
    17. Tang, John P. & Basco, Sergi, 2023. "Banks, credit supply, and the life cycle of firms: Evidence from late nineteenth century Japan," Journal of Banking & Finance, Elsevier, vol. 154(C).
    18. Calderón, César & Fuentes, J. Rodrigo, 2014. "Have business cycles changed over the last two decades? An empirical investigation," Journal of Development Economics, Elsevier, vol. 109(C), pages 98-123.
    19. Hartwig, Benny & Meinerding, Christoph & Schüler, Yves S., 2021. "Identifying indicators of systemic risk," Journal of International Economics, Elsevier, vol. 132(C).
    20. Òscar Jordà & Björn Richter & Moritz Schularick & Alan M. Taylor, 2017. "Bank Capital Redux: Solvency, Liquidity, and Crisis," Working Paper Series 2017-6, Federal Reserve Bank of San Francisco.
    21. Mr. Fabio Comelli, 2015. "Estimation and out-of-sample Prediction of Sudden Stops: Do Regions of Emerging Markets Behave Differently from Each Other?," IMF Working Papers 2015/138, International Monetary Fund.
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    1. Luca Metelli & Kevin Pallara, 2020. "Fiscal space and the size of the fiscal multiplier," Temi di discussione (Economic working papers) 1293, Bank of Italy, Economic Research and International Relations Area.
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    4. Gerdie Everaert, 2017. "On the estimation of panel fiscal reaction functions : Heterogeneity or fiscal fatigue?," Working Paper Research 320, National Bank of Belgium.
    5. Caner, Mehmet & Fan, Qingliang & Grennes, Thomas, 2021. "Partners in debt: An endogenous non-linear analysis of the effects of public and private debt on growth," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 694-711.
    6. Dennis Bonam & Jasper Lukkezen, 2019. "Fiscal and Monetary Policy Coordination, Macroeconomic Stability, and Sovereign Risk Premia," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 581-616, March.
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    363. Paola Subacchi & Paul van den, 2023. "Exorbitant privilege and fiscal autonomy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 39(2), pages 283-299.
    364. Roberto Tamborini, 2015. "Heterogeneous Market Beliefs, Fundamentals and the Sovereign Debt Crisis in the Eurozone," Economica, London School of Economics and Political Science, vol. 82, pages 1153-1176, December.
    365. Diego Mart nez L pez & Fernando Gonz lez Gonz lez, 2022. "Los objetivos de d ficit en las Comunidades Aut nomas: una propuesta basada en la deuda," Hacienda Pública Española / Review of Public Economics, IEF, vol. 241(2), pages 105-141, June.
    366. Puonti, Päivi, 2022. "Public Debt and Economic Growth," ETLA Reports 127, The Research Institute of the Finnish Economy.
    367. Acocella, Nicola & Beqiraj, Elton & Di Bartolomeo, Giovanni & Di Pietro, Marco & Felici, Francesco, 2019. "An evaluation of alternative fiscal adjustment plans," EconStor Preprints 209707, ZBW - Leibniz Information Centre for Economics.
    368. Westerhout, Ed, 2022. "30 Years of Generational Accounting : A Critical Review," Discussion Paper 2022-021, Tilburg University, Center for Economic Research.
    369. Albaity, Mohamed & Mallek, Ray Saadaoui & Noman, Abu Hanifa Md., 2019. "Competition and bank stability in the MENA region: The moderating effect of Islamic versus conventional banks," Emerging Markets Review, Elsevier, vol. 38(C), pages 310-325.
    370. Carolin Nerlich & Wolf Heinrich Reuter, 2016. "Fiscal Rules, Fiscal Space, and the Procyclicality of Fiscal Policy," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 72(4), pages 421-452, December.
    371. Briodeau, Clémence & Checherita-Westphal, Cristina, 2023. "Inflation and fiscal policy: is there a threshold effect in the fiscal reaction function?," Working Paper Series 2880, European Central Bank.
    372. Betty Daniel, Christos Shiamptanis, 2015. "Predicting Sovereign Fiscal Crises: High-Debt Developed Countries," LCERPA Working Papers 0090, Laurier Centre for Economic Research and Policy Analysis, revised 05 May 2015.
    373. Ablam Estel Apeti & Jean-Louis Combes & Xavier Debrun & Alexandru Minea, 2021. "Did Fiscal Space Foster Covid-19's Fiscal Stimuli ?," Post-Print hal-03351634, HAL.
    374. André Sapir, 2020. "High Public Debt in the Euro Area: A Tale of Belgium and Italy," Journal of Common Market Studies, Wiley Blackwell, vol. 58(3), pages 672-687, May.
    375. Tomasz Łyziak & Joanna Mackiewicz-Łyziak, 2019. "Sustainability of Public Finances in European Economies: Fiscal Policy Reactions and Market Pricing," Eastern European Economics, Taylor & Francis Journals, vol. 57(1), pages 3-19, January.
    376. Mr. Evan C Tanner, 2013. "Fiscal Sustainability: A 21st Century Guide for the Perplexed," IMF Working Papers 2013/089, International Monetary Fund.
    377. Cafiso, Gianluca & Missale, Alessandro & Rivolta, Giulia, 2025. "The credit channel of the sovereign spread: A Bayesian SVAR analysis," Economic Modelling, Elsevier, vol. 144(C).
    378. Wu, Haijun & Yang, Jidong & Yang, Qijing, 2021. "The pressure of economic growth and the issuance of Urban Investment Bonds: Based on panel data from 2005 to 2011 in China," Journal of Asian Economics, Elsevier, vol. 76(C).
    379. Begoña Domínguez & Pedro Gomis‐Porqueras, 2023. "Normalizing the Central Bank's Balance Sheet: Implications for Inflation and Debt Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 945-974, June.
    380. Fatih AKBAYIR & Ahmet Burçin YERELİ, 2018. "Fiscal Space and Estimating Methods," Sosyoekonomi Journal, Sosyoekonomi Society, issue 26(38).
    381. Efrem Castelnuovo & Guay Lim & Giovanni Pellegrino, 2018. "Macroeconomic Policies in a Low Interest Rate Environment: Back to Keynes?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(1), pages 70-86, March.
    382. Sena Kimm Gnangnon, 2019. "De Facto Fiscal Space in Donor-countries and Their Aid Supply: To What Extent is Trade-related Aid Supply Affected?," South Asian Journal of Macroeconomics and Public Finance, , vol. 8(1), pages 1-25, June.
    383. Fang, Yan & Liu, Yinglin & Yang, Yi & Lucey, Brian & Abedin, Mohammad Zoynul, 2025. "How do Chinese urban investment bonds affect its economic resilience? Evidence from double machine learning," Research in International Business and Finance, Elsevier, vol. 74(C).
    384. Frantisek Hajnovic & Juraj Zeman, 2012. "Fiscal Space in the Euro zone," Working and Discussion Papers WP 5/2012, Research Department, National Bank of Slovakia.
    385. Lawrence Ogbeifun & Olatunji Shobande, 2020. "Debt sustainability and the fiscal reaction function: evidence from MIST countries," Future Business Journal, Springer, vol. 6(1), pages 1-8, December.
    386. Eric M. Leeper & Todd B. Walker, 2011. "Fiscal Limits in Advanced Economies," NBER Working Papers 16819, National Bureau of Economic Research, Inc.
    387. Caterina Seghini, 2026. "Sovereign Debt Sustainability, The Carbon Budget, and Climate Damages," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 89(2), pages 1-55, February.
    388. Zixi Liu, 2015. "Do debt and growth dance together? A DSGE model of a small open economy with sovereign debt," Working Papers 2015.05, International Network for Economic Research - INFER.
    389. Floriana Cerniglia & Enzo Dia & Andrew Hughes Hallett, 2019. "Tax vs. Debt Management Under Entitlement Spending: a Multicountry Study," Open Economies Review, Springer, vol. 30(3), pages 425-443, July.
    390. Sawler, James, 2021. "Economics 101-ism and the Dunning-Kruger effect: Reducing overconfidence among introductory macroeconomics students," International Review of Economics Education, Elsevier, vol. 36(C).
    391. Gabriel Temesgen Woldu & Izabella Szakálné Kanó, 2024. "Primary surplus dynamics and fiscal sustainability in sub-saharan African countries," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(2), pages 499-519, July.
    392. Reinhart, Carmen M. & Trebesch, Christoph, 2015. "Sovereign Debt Relief and Its Aftermath," Working Paper Series rwp15-028, Harvard University, John F. Kennedy School of Government.
    393. Abdul Jalil, 2020. "Debt Sustainability: Economic Growth is the Panacea," PIDE Knowledge Brief 2020:19, Pakistan Institute of Development Economics.
    394. Maggi, Bernardo, 2026. "Assessing the effect of uncertainty in policy decisions on the sustainability of the Stability and Growth Pact: A functional analysis approach," International Economics, Elsevier, vol. 185(C).
    395. Pierre Aldama & Jérôme Creel, 2017. "Why Fiscal Regimes Matter for Fiscal Sustainability: An Application to France," Working Papers 2017.01, International Network for Economic Research - INFER.
    396. Rho, Caterina & Saenz, Manrique, 2021. "Financial stress and the probability of sovereign default," Journal of International Money and Finance, Elsevier, vol. 110(C).
    397. Tran, Ngan, 2018. "Debt threshold for fiscal sustainability assessment in emerging economies," Journal of Policy Modeling, Elsevier, vol. 40(2), pages 375-394.
    398. Li, Tianyu & Du, Tongwei, 2021. "Vertical fiscal imbalance, transfer payments, and fiscal sustainability of local governments in China," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 392-404.

  32. Mr. Enrique G. Mendoza & Javier Bianchi, 2011. "Overborrowing, Financial Crises and ‘Macro-prudential’ Policy," IMF Working Papers 2011/024, International Monetary Fund.

    Cited by:

    1. Mădălin Viziniuc, 2017. "Potential Gains from Cooperation Between Monetary and Macroprudential Policies: The Case of an Emerging Economy," Eastern European Economics, Taylor & Francis Journals, vol. 55(5), pages 420-452, September.
    2. Nicolas E. Magud & Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "Capital Controls: Myth and Reality--A Portfolio Balance Approach," CEMA Working Papers 608, China Economics and Management Academy, Central University of Finance and Economics.
    3. Tobias Adrian & Nina Boyarchenko & Hyun Song Shin, 2015. "On the scale of financial intermediaries," Staff Reports 743, Federal Reserve Bank of New York.
    4. Angelini, P. & Laurent Clerc & C rdia, V. & Leonardo Gambacorta & Gerali, A. & Locarno, A. & Motto, R. & Roeger, W. & Van den Heuvel, S. & Vlcek, J., 2011. "BASEL III: Long-term impact on economic performance and fluctuations," Working papers 323, Banque de France.
    5. Caterina Mendicino & Kalin Nikolov & Javier Suarez & Dominik Supera, 2018. "Bank Capital in the Short and in the Long Run," Working Papers wp2018_1807, CEMFI.
    6. De La Peña, Rogelio, 2021. "Should monetary policy lean against the wind in a small-open economy? Revisiting the Tinbergen rule," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(1).
    7. Caterina Mendicino & Kalin Nikolov & Juan Rubio-Ramirez & Javier Suarez, 2020. "Twin Default Crises," Working Papers 2020-01, FEDEA.
    8. Josef Schroth, 2019. "Macroprudential Policy with Capital Buffers," Staff Working Papers 19-8, Bank of Canada.
    9. Paolo Angelini & Stefano Neri & Fabio Panetta, 2011. "Monetary and macroprudential policies," Temi di discussione (Economic working papers) 801, Bank of Italy, Economic Research and International Relations Area.
    10. Mr. Anton Korinek, 2011. "The New Economics of Capital Controls Imposed for Prudential Reasons+L4888," IMF Working Papers 2011/298, International Monetary Fund.
    11. De Chiara, Alessandro & Livio, Luca & Ponce, Jorge, 2018. "Flexible and mandatory banking supervision," Journal of Financial Stability, Elsevier, vol. 34(C), pages 86-104.
    12. Tobias Adrian & Daniel M. Covitz & J. Nellie Liang, 2013. "Financial stability monitoring," Finance and Economics Discussion Series 2013-21, Board of Governors of the Federal Reserve System (U.S.).
    13. Michael B. Devereux & James Yetman, 2013. "Capital Controls, Global Liquidity Traps and the International Policy Trilemma," NBER Working Papers 19091, National Bureau of Economic Research, Inc.
    14. De la Peña Rogelio, 2021. "Should monetary policy lean against the wind in a small-open economy? Revisiting the Tinbergen rule," Working Papers 2021-01, Banco de México.
    15. Lorenzoni, Guido, 2014. "International Financial Crises," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 689-740, Elsevier.
    16. Mr. Dominic Quint & Mr. Pau Rabanal, 2013. "Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area," IMF Working Papers 2013/209, International Monetary Fund.
    17. Arana, Rumile & Ramirez, Francisco A. & Wright, Allan, 2017. "Credit Risks and Monetary Policy within Caribbean Economies," IDB Publications (Working Papers) 8268, Inter-American Development Bank.
    18. Natalie Tiernan & Pedro Gete, 2014. "Overlending and Macroprudential Tools," 2014 Meeting Papers 379, Society for Economic Dynamics.
    19. Tobias Adrian & Nina Boyarchenko, 2014. "Liquidity policies and systemic risk," Staff Reports 661, Federal Reserve Bank of New York.
    20. Crespo Cuaresma, Jesus & von Schweinitz, Gregor & Wendt, Katharina, 2019. "On the empirics of reserve requirements and economic growth," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 253-274.
    21. Claudio Battiati, 2017. "R&D, growth, and macroprudential policy in an economy undergoing boom-bust cycles," Bank of Lithuania Working Paper Series 48, Bank of Lithuania.
    22. Siming Liu, 2018. "Spending Multiplier during Sudden Stop Crises," 2018 Meeting Papers 226, Society for Economic Dynamics.
    23. Tommaso Trani, 2012. "Countercyclical Capital Regulation and Bank Ownership Structure," IHEID Working Papers 14-2012, Economics Section, The Graduate Institute of International Studies.
    24. V. Filipe Martins-Da-Rocha & Toan Phan & Yiannis Vailakis, 2022. "Pecuniary Externalities in Competitive Economies with Limited Pledgeability," Working Papers hal-03909596, HAL.
    25. Siming Liu, 2018. "Government Spending during Sudden Stop Crises," CAEPR Working Papers 2018-002, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    26. Pozo, Jorge, 2019. "Bank Risk-Taking in a Small Open Economy," Working Papers 2019-016, Banco Central de Reserva del Perú.
    27. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Managing Capital Flows in the Presence of External Risks," International Finance Discussion Papers 1213, Board of Governors of the Federal Reserve System (U.S.).
    28. Zhiguo, He & Kondor, Peter, 2016. "Inefficient investment waves," LSE Research Online Documents on Economics 64412, London School of Economics and Political Science, LSE Library.
    29. Ashima Goyal & Akhilesh K. Verma, 2020. "Cross border flows, financial Intermediation and interactions of policy rules in a small open economy model," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2020-008, Indira Gandhi Institute of Development Research, Mumbai, India.
    30. Matteo F. Ghilardi & Shanaka J. Peiris, 2016. "Capital Flows, Financial Intermediation and Macroprudential Policies," Open Economies Review, Springer, vol. 27(4), pages 721-746, September.
    31. Ahmet Aysan & Salih Fendoglu & Mustafa Kilinc, 2014. "Managing short-term capital flows in new central banking: unconventional monetary policy framework in Turkey," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 4(1), pages 45-69, June.
    32. Ikeda, Daisuke & Saito, Masashi, 2014. "The effects of demographic changes on the real interest rate in Japan," Japan and the World Economy, Elsevier, vol. 32(C), pages 37-48.
    33. Kalin Nikolov & Javier Suarez & Dominik Supera & Caterina Mendicino, 2017. "Optimal Dynamic Capital Requirements," 2017 Meeting Papers 1216, Society for Economic Dynamics.
    34. Tobias Adrian & Nina Boyarchenko, 2012. "Intermediary leverage cycles and financial stability," Staff Reports 567, Federal Reserve Bank of New York.

  33. Miss Zhanwei Z. Yue & Mr. Enrique G. Mendoza, 2011. "A General Equilibrium Model of Sovereign Default and Business Cycles," IMF Working Papers 2011/166, International Monetary Fund.

    Cited by:

    1. Dominik Sachs & Sebastian Findeisen, 2016. "Optimal Financial Aid Policies for Students," 2016 Meeting Papers 1421, Society for Economic Dynamics.
    2. Lopez-Martin, Bernabe & Leal, Julio & Martinez Fritscher, Andre, 2019. "Commodity price risk management and fiscal policy in a sovereign default model," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 304-323.
    3. Lee, Kwan Yong & Naknoi, Kanda, 2024. "Exchange rates, invoicing currencies and the margins of exports," Journal of International Money and Finance, Elsevier, vol. 141(C).
    4. Jorge Alonso-Ortiz & Esteban Colla & José-María Da-Rocha, 2017. "The productivity cost of sovereign default: evidence from the European debt crisis," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(4), pages 611-633, December.
    5. Jean Barthélemy & Magali Marx, 2016. "Solving Endogenous Regime Switching Models," Working Papers hal-03393181, HAL.
    6. Christoph Trebesch, 2019. "Resolving sovereign debt crises: the role of political risk," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 421-444.
    7. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    8. Thomas McGregor, 2017. "Pricing sovereign debt in resource rich economies," OxCarre Working Papers 194, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    9. Vincenzo Quadrini, 2020. "The Impact of Industrialized Countries’ Monetary Policy on Emerging Economies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 550-583, September.
    10. Daniel Levy & Tamir Mayer & Alon Raviv, 2022. "Economists in the 2008 Financial Crisis: Slow to See, Fast to Act," Working Papers 2022-01, Bar-Ilan University, Department of Economics.
    11. Anusha Chari & Ryan Leary & Toan Phan, 2025. "The Transmission of Quasi-Sovereign Default Risk: Evidence from Puerto Rico," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(2), pages 556-595, June.
    12. Findeisen, Sebastian & Sachs, Dominik, 2014. "Efficient Labor and Capital Income Taxation over the Life Cycle," Working Papers 14-17, University of Mannheim, Department of Economics.
    13. Xuan Wang, 2019. "When Do Currency Unions Benefit From Default ?," 2019 Papers pwa938, Job Market Papers.
    14. Maximiliano Dvorkin & Emircan Yurdagul & Horacio Sapriza & Juan Sanchez, 2018. "Sovereign Debt Restructuring: A Dynamic Discrete Choice Approach," 2018 Meeting Papers 1273, Society for Economic Dynamics.
    15. Eijffinger, Sylvester & Uras, Burak & Kobielarz, Michal, 2015. "Sovereign Debt, Bail-Outs and Contagion in a Monetary Union," CEPR Discussion Papers 10459, Centre for Economic Policy Research.
    16. Juan Pablo Gama & Rodrigo J. Raad, 2023. "Large public expenditure shocks in a Ramsey taxation model with default," Textos para Discussão Cedeplar-UFMG 665, Cedeplar, Universidade Federal de Minas Gerais.
    17. Pablo D'Erasmo & Enrique G. Mendoza, 2013. "Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default," NBER Working Papers 19477, National Bureau of Economic Research, Inc.
    18. Meyer, Josefin & Reinhart, Carmen & Trebesch, Christoph, 2022. "Sovereign Bonds since Waterloo," CEPR Discussion Papers 13514, Centre for Economic Policy Research.
    19. Alfaro, Laura & Kanczuk, Fabio, 2026. "Fiscal rules and sovereign default," Emerging Markets Review, Elsevier, vol. 70(C).
    20. Carré, Sylvain & Cohen, Daniel & Villemot, Sébastien, 2019. "The sources of sovereign risk: a calibration based on Lévy stochastic processes," Journal of International Economics, Elsevier, vol. 118(C), pages 31-43.
    21. Antonio Cusato Novelli, 2021. "Sovereign default, political instability and political fragmentation," Review of International Economics, Wiley Blackwell, vol. 29(4), pages 732-755, September.
    22. Hernan Seoane, 2016. "Time-varying volatility, default and the sovereign risk premium," 2016 Meeting Papers 1132, Society for Economic Dynamics.
    23. Si Guo & Yun Pei, 2023. "The impact of sovereign defaults on lending countries," Review of Quantitative Finance and Accounting, Springer, vol. 60(1), pages 345-374, January.
    24. Philippe Martin & Thomas Philippon, 2014. "Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone," NBER Working Papers 20572, National Bureau of Economic Research, Inc.
    25. Michael Tomz & Mark L. J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," CAMA Working Papers 2013-16, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    26. Stefan Niemann & Paul Pichler, 2020. "Optimal fiscal policy and sovereign debt crises," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 234-254, July.
    27. Enrique Mendoza, 2015. "EconomicDynamics Interviews Enrique Mendoza on Sovereign Debt," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 16(1), April.
    28. Bańkowski, Krzysztof & Christoffel, Kai & Faria, Thomas, 2021. "Assessing the fiscal-monetary policy mix in the euro area," Working Paper Series 2623, European Central Bank.
    29. Markus Kirchner & Malte Rieth, 2020. "Sovereign Default Risk, Macroeconomic Fluctuations and Monetary-Fiscal Stabilization," Working Papers Central Bank of Chile 896, Central Bank of Chile.
    30. Lizarazo, Sandra Valentina, 2013. "Default risk and risk averse international investors," Journal of International Economics, Elsevier, vol. 89(2), pages 317-330.
    31. Luca Guerrieri & Matteo Iacoviello & Raoul Minetti, 2012. "Banks, sovereign debt and the international transmission of business cycles," International Finance Discussion Papers 1067, Board of Governors of the Federal Reserve System (U.S.).
    32. Coimbra, Nuno, 2020. "Sovereigns at risk: A dynamic model of sovereign debt and banking leverage," Journal of International Economics, Elsevier, vol. 124(C).
    33. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    34. Ricardo Sabbadini, 2018. "International Reserves Management in a Model of Partial Sovereign Default," Working Papers, Department of Economics 2018_14, University of São Paulo (FEA-USP).
    35. Llosa, Luis-Gonzalo, 2013. "How Do Terms of Trade Affect Productivity? The Role of Monopolistic Output Markets," Working Papers 2013-007, Banco Central de Reserva del Perú.
    36. Javier Andrés & Pablo Burriel & Wenyi Shen, 2020. "Debt sustainability and fiscal space in a heterogeneous Monetary Union: normal times vs the zero lower bound," Working Papers 2001, Banco de España.
    37. Silvia Marchesi & Tania Masi, 2019. "Sovereign risk after sovereign restructuring. Private and official default," Working Papers 423, University of Milano-Bicocca, Department of Economics, revised Nov 2019.
    38. Pablo D’Erasmo & Hernán Moscoso Boedo & María Pía Olivero & Máximo Sangiácomo, 2020. "Relationship Networks in Banking Around a Sovereign Default and Currency Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 584-642, September.
    39. Seunghoon Na & Stephanie Schmitt-Grohe & Martin Uribe & Vivian Z. Yue, 2015. "A model of the Twin Ds: optimal default and devaluation," FRB Atlanta CQER Working Paper 2015-1, Federal Reserve Bank of Atlanta.
    40. Juan Carlos Conesa & Timothy J. Kehoe, 2017. "Gambling for redemption and self-fulfilling debt crises," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(4), pages 707-740, December.
    41. Takefumi Yamazaki, 2018. "Accuracy and speed of the solution methods for sovereign default models: The stable performance of the Tauchen method and cubic spline interpolation," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 14(4), pages 641-662, July.
    42. MILEA, Camelia, 2021. "Reflections On The Consequences And Risks Of An Economy’S Indebtedness," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 25(2), pages 50-63, June.
    43. Eijffinger, Sylvester C.W. & Kobielarz, Michał L. & Uras, Burak R., 2018. "Sovereign default, exit and contagion in a monetary union," Journal of International Economics, Elsevier, vol. 113(C), pages 1-19.
    44. Leonardo Martinez & Juan Hatchondo & Burhanettin Kuruscu & Bulent Guler, 2014. "Sovereign Bailouts," 2014 Meeting Papers 1278, Society for Economic Dynamics.
    45. Maximiliano Dvorkin & Emircan Yurdagul & Horacio Sapriza & Juan Sanchez, 2019. "News, sovereign debt maturity, and default risk," 2019 Meeting Papers 918, Society for Economic Dynamics.
    46. Phan, Toàn & Schwartzman, Felipe, 2024. "Climate defaults and financial adaptation," European Economic Review, Elsevier, vol. 170(C).
    47. Corsetti, Giancarlo & Kuester, Keith & Meier, André & Müller, Gernot J., 2014. "Sovereign risk and belief-driven fluctuations in the euro area," Journal of Monetary Economics, Elsevier, vol. 61(C), pages 53-73.
    48. Johri, Alok & Khan, Shahed & Sosa-Padilla, César, 2022. "Interest rate uncertainty and sovereign default risk," Journal of International Economics, Elsevier, vol. 139(C).
    49. Daniel Cohen & Sébastien Villemot, 2012. "The sovereign default puzzle: Modelling issues and lessons for Europe," PSE Working Papers halshs-00692038, HAL.
    50. Heitor Almeida & Daniel Carvalho & Taehyun Kim, 2024. "The Working Capital Credit Multiplier," Journal of Finance, American Finance Association, vol. 79(6), pages 4247-4302, December.
    51. C. Bora Durdu, 2013. "Emerging Market Business Cycles: Recent Advances," International Economic Journal, Taylor & Francis Journals, vol. 27(2), pages 183-199, June.
    52. Yasin Mimir & Lorenzo Ricci, 2024. "Financial imbalances and macroeconomic tail risks: A structural regime-switching investigation," Working Papers 64, European Stability Mechanism, revised 15 Nov 2024.
    53. Robert A. McDowall, 2021. "Sovereign default and capital controls," Review of International Economics, Wiley Blackwell, vol. 29(4), pages 1025-1045, September.
    54. Hoffmann, Mathias & Maslov, Egor & Sørensen, Bent E., 2022. "Small firms and domestic bank dependence in Europe's great recession," Journal of International Economics, Elsevier, vol. 137(C).
    55. Carlos Thomas & Galo Nuño, 2016. "Monetary Policy and Sovereign Debt Vulnerability," 2016 Meeting Papers 329, Society for Economic Dynamics.
    56. Queralto, Albert, 2020. "A model of slow recoveries from financial crises," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 1-25.
    57. Sánchez, Juan M. & Sapriza, Horacio & Yurdagul, Emircan, 2018. "Sovereign default and maturity choice," Journal of Monetary Economics, Elsevier, vol. 95(C), pages 72-85.
    58. Nöh, Lukas, 2019. "Increasing public debt and the role of central bank independence for debt maturities," European Economic Review, Elsevier, vol. 119(C), pages 179-198.
    59. Tavares, Tiago, 2019. "Labor market distortions under sovereign debt default crises," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    60. Filippo Brutti & Philip Sauré, 2016. "Repatriation Of Debt In The Euro Crisis," Journal of the European Economic Association, European Economic Association, vol. 14(1), pages 145-174, February.
    61. Asonuma, Tamon, 2012. "Serial default and debt renegotiation," MPRA Paper 55139, University Library of Munich, Germany.
    62. Pagenhardt, Laura & Große Steffen, Christoph & Rieth, Malte, 2021. "Commited to Flexible Fiscal Rules," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242330, Verein für Socialpolitik / German Economic Association.
    63. Grzegorz Wesoƚowski, 2018. "Do long-term interest rates drive GDP and inflation in small open economies? Evidence from Poland," Applied Economics, Taylor & Francis Journals, vol. 50(57), pages 6174-6192, December.
    64. Filippo Brutti & Philip U. Sauré, 2014. "Repatriation of Debt in the Euro Crisis: Evidence for the Secondary Market Theory," Working Papers 2014-03, Swiss National Bank.
    65. Asonuma, Tamon, 2014. "Sovereign defaults, external debt and real exchange rate dynamics," MPRA Paper 55133, University Library of Munich, Germany.
    66. Philipp Engler & Christoph Große Steffen, 2014. "Sovereign Risk, Interbank Freezes, and Aggregate Fluctuations," Discussion Papers of DIW Berlin 1436, DIW Berlin, German Institute for Economic Research.
    67. Martin Wolf, 2019. "Pecuniary Externalities in Economies with Downward Wage Rigidity," Vienna Economics Papers vie1905, University of Vienna, Department of Economics.
    68. Sámano Daniel, 2022. "Foreign Currency Working Capital Constraints for Imported Inputs and Compositional Effects in Intermediate Goods," Working Papers 2022-20, Banco de México.
    69. Albert Queraltó, 2013. "A Model of Slow Recoveries from Financial Crises," International Finance Discussion Papers 1097, Board of Governors of the Federal Reserve System (U.S.).
    70. Dennis Essers & Silvia Marchesi & Nejat G. Okatan, 2026. "Sovereign Defaults and Trade: External vs. Domestic Creditors," Working Papers 575, University of Milano-Bicocca, Department of Economics.
    71. Dzhambova, Krastina, 2021. "“When it rains, it pours”: Fiscal policy, credit constraints and business cycles in emerging and developed economies," Journal of Macroeconomics, Elsevier, vol. 69(C).
    72. Boris Hofmann & Nikhil Patel & Steve Pak Yeung Wu, 2022. "Original sin redux: a model-based evaluation," BIS Working Papers 1004, Bank for International Settlements.
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    251. Giancarlo Corsetti, 2023. "Debt crises, fast and slow Giancarlo," RSCAS Working Papers 2023/15, European University Institute.
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    258. Papadia, Andrea, 2017. "Sovereign defaults during the Great Depression: the role of fiscal fragility," Economic History Working Papers 68943, London School of Economics and Political Science, Department of Economic History.
    259. Silvia, Marchesi, 2015. "The cost of default: private vs. official sovereign debt restructurings," Working Papers 320, University of Milano-Bicocca, Department of Economics, revised 28 Dec 2015.
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    267. Liu, Yang, 2023. "Government debt and risk premia," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 18-34.
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    273. Sebnem Kalemli-Ozcan & Xiaoxi Liu & Ilhyock Shim, 2021. "Exchange Rate Fluctuations and Firm Leverage," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 90-121, March.
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    286. Jason Z. Ma & Xiang Deng & Kung-Cheng Ho & Sang-Bing Tsai, 2018. "Regime-Switching Determinants for Spreads of Emerging Markets Sovereign Credit Default Swaps," Sustainability, MDPI, vol. 10(8), pages 1-17, August.
    287. Asonuma, Tamon & Chamon, Marcos & Erce, Aitor & Sasahara, Akira, 2024. "Costs of sovereign debt crises: Restructuring strategies and bank intermediation," Journal of International Economics, Elsevier, vol. 152(C).
    288. Chen, Hsien-Yi & Chen, Sheng-Syan, 2018. "Quality of government institutions and spreads on sovereign credit default swaps," Journal of International Money and Finance, Elsevier, vol. 87(C), pages 82-95.
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  34. Javier Bianchi & Enrique G. Mendoza, 2010. "Overborrowing, Financial Crises and 'Macro-prudential' Taxes," NBER Working Papers 16091, National Bureau of Economic Research, Inc.

    Cited by:

    1. Sami Alpanda & Gino Cateau & Césaire Meh, 2014. "A Policy Model to Analyze Macroprudential Regulations and Monetary Policy," Staff Working Papers 14-6, Bank of Canada.
    2. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric Young, 2012. "Capital controls or exchange rate policy? a pecuniary externality perspective," Working Papers 2012-025, Federal Reserve Bank of St. Louis.
    3. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    4. Olivier Jeanne & Anton Korinek, 2010. "Managing Credit Booms and Busts: A Pigouvian Taxation Approach," NBER Working Papers 16377, National Bureau of Economic Research, Inc.
    5. Frank Smets, 2014. "Financial Stability and Monetary Policy: How Closely Interlinked?," International Journal of Central Banking, International Journal of Central Banking, vol. 10(2), pages 263-300, June.
    6. Michael B. Devereux & Doris Poon, 2011. "Monetary Policy in Economic Crises: A Simple Model of Policy with External Financial Constraints," International Economic Journal, Taylor & Francis Journals, vol. 25(4), pages 683-711, December.
    7. Claudio Borio, 2011. "Rediscovering the macroeconomic roots of financial stability policy: journey, challenges and a way forward," BIS Working Papers 354, Bank for International Settlements.
    8. Juan Sebasti�n Amador Torres & Jos� Eduardo G�mez G. & Andr�s Murcia Pab�n, 2013. "Loans Growth and Banks� Risk: New Evidence," Borradores de Economia 10710, Banco de la Republica.
    9. Ryo Kato & Takayuki Tsuruga, 2012. "Bank Overleverage and Macroeconomic Fragility," Discussion papers e-12-002, Graduate School of Economics Project Center, Kyoto University, revised Mar 2013.
    10. David Aikman & Andrew Haldane & Marc Hinterschweiger & Sujit Kapadia, 2018. "Rethinking financial stability," Bank of England Staff Working Paper series 712, Bank of England.
    11. Javier Bianchi, 2012. "Efficient Bailouts?," Documentos de Trabajo (working papers) 2012, Department of Economics - dECON.
    12. Ben Lockwood, 2013. "How should financial intermediation services be taxed?," Working Papers 1309, Oxford University Centre for Business Taxation.
    13. Charles Nolan & Plutarchos Sakellaris & John D. Tsoukalas, 2016. "Optimal Bailout of Systemic Banks," Working Papers 201607, Athens University Of Economics and Business, Department of Economics.
    14. Javier Bianchi & Emine Boz & Enrique G. Mendoza, 2012. "Macro-Prudential Policy in a Fisherian model of Financial Innovation," NBER Working Papers 18036, National Bureau of Economic Research, Inc.
    15. V. V. Chari & Patrick J. Kehoe, 2013. "Bailouts, time inconsistency, and optimal regulation," Staff Report 481, Federal Reserve Bank of Minneapolis.
    16. Gondo, Rocío, 2013. "Default Externalities in Emerging Market Systemic Private Debt Crises," Working Papers 2013-023, Banco Central de Reserva del Perú.
    17. Paolo Angelini & Stefano Neri & Fabio Panetta, 2011. "Monetary and macroprudential policies," Temi di discussione (Economic working papers) 801, Bank of Italy, Economic Research and International Relations Area.
    18. Rebucci, Alessandro & Benigno, Gianluca & Otrok, Christopher & Chen, Huigang & Young, Eric, 2011. "Financial Crisis and Macro-Prudential Policies," CEPR Discussion Papers 8175, Centre for Economic Policy Research.
    19. Andrés Fernández & Alessandro Rebucci & Martín Uribe, 2013. "Are Capital Controls Prudential? An Empirical Investigation," NBER Working Papers 19671, National Bureau of Economic Research, Inc.
    20. Irani, Rustom M & van Bekkum, Sjoerd & Gabarro, Marc & Peydró, José-Luis, 2019. "Take It to the Limit? The Effects of Household Leverage Caps," CEPR Discussion Papers 13503, Centre for Economic Policy Research.
    21. Gabriele Galati & Richhild Moessner, 2018. "What Do We Know About the Effects of Macroprudential Policy?," Economica, London School of Economics and Political Science, vol. 85(340), pages 735-770, October.
    22. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric Young, 2013. "Capital Controls or Real Exchange Rate Policy? A Pecuniary Externality Perspective," Research Department Publications IDB-WP-393, Inter-American Development Bank, Research Department.
    23. J. Scott Davis & Ignacio Presno, 2014. "Capital controls as an instrument of monetary policy," Globalization Institute Working Papers 171, Federal Reserve Bank of Dallas.
    24. Devereux, Michael B. & Young, Eric R. & Yu, Changhua, 2019. "Capital controls and monetary policy in sudden-stop economies," Journal of Monetary Economics, Elsevier, vol. 103(C), pages 52-74.
    25. Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain, 2023. "Exchange rate misalignment and external imbalances: What is the optimal monetary policy response?," Journal of International Economics, Elsevier, vol. 144(C).
    26. Olivier Jeanne, 2013. "Macroprudential policies in a global perspective," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 1-38.
    27. Tobias Adrian & Paolo Colla & Hyun Song Shin, 2012. "Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007 to 2009," NBER Chapters, in: NBER Macroeconomics Annual 2012, Volume 27, pages 159-214, National Bureau of Economic Research, Inc.
    28. Ms. Longmei Zhang & Ms. Edda Zoli, 2014. "Leaning Against the Wind: Macroprudential Policy in Asia," IMF Working Papers 2014/022, International Monetary Fund.
    29. Fatma Pinar Erdem Kucukbicakci & Etkin Ozen & Ibrahim Unalmis, 2020. "Are Macroprudential Policies Effective Tools to Reduce Credit Growth in Emerging Markets?," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 6(1), pages 73-89, June.
    30. Ueda, Kenichi & Valencia, Fabián, 2014. "Central bank independence and macro-prudential regulation," Economics Letters, Elsevier, vol. 125(2), pages 327-330.
    31. Einian, Majid & Nili, Masoud, 2016. "Consumption Smoothing and Borrowing Constraints: Evidence from Household Surveys of Iran," MPRA Paper 72461, University Library of Munich, Germany.
    32. Benigno, Gianluca & Chen, Huigang & Otrok, Christopher & Rebucci, Alessandro & Young, Eric R., 2016. "Optimal capital controls and real exchange rate policies: A pecuniary externality perspective," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 147-165.
    33. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    34. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric Young, 2012. "Optimal policy for macro-financial stability," Working Papers 2012-041, Federal Reserve Bank of St. Louis.
    35. Laurent Clerc & Alexis Derviz & Caterina Mendicino & Stéphane Moyen & Kalin Nikolov & Livio Stracca & Javier Suarez & Alexandros P. Vardoulakis, 2014. "Capital Regulation in a Macroeconomic Model with Three Layers of Default," Working Papers wp2014_1408, CEMFI.
    36. Mr. Michael Keen, 2011. "The Taxation and Regulation of Banks," IMF Working Papers 2011/206, International Monetary Fund.
    37. Oliver Bush & Katie Farrant & Michelle Wright, 2011. "Financial Stability Paper No 13: Reform of the International Monetary and Financial System," Bank of England Financial Stability Papers 13, Bank of England.
    38. Miguel Acosta-Henao & Laura Alfaro & Andrés Fernández, 2020. "Sticky Capital Controls," Working Papers Central Bank of Chile 877, Central Bank of Chile.
    39. Olivier Jeanne & Anton Korinek, 2013. "Macroprudential Regulation Versus Mopping Up After the Crash," NBER Working Papers 18675, National Bureau of Economic Research, Inc.
    40. Jean-Bernard Chatelain & Kirsten Ralf, 2012. "The failure of Financial Macroeconomics and What to Do About It," Documents de travail du Centre d'Economie de la Sorbonne 12030, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    41. Choi, Woon Gyu & Cook, David, 2012. "Fire sales and the financial accelerator," Journal of Monetary Economics, Elsevier, vol. 59(4), pages 336-351.
    42. Mr. Fabian Valencia, 2011. "Monetary Policy, Bank Leverage, and Financial Stability," IMF Working Papers 2011/244, International Monetary Fund.
    43. Massimo Coletta & Riccardo De Bonis & Stefano Piermattei, 2019. "Household Debt in OECD Countries: The Role of Supply-Side and Demand-Side Factors," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 143(3), pages 1185-1217, June.
    44. William Gatt, 2024. "Loan‐to‐value limits as a macroprudential policy tool: Developments in theory and practice," Journal of Economic Surveys, Wiley Blackwell, vol. 38(1), pages 232-267, February.
    45. Marco Maffezzoli & Tommaso Monacelli, 2015. "Deleverage and Financial Fragility," Working Papers 546, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    46. Zhang, Longmei & Zoli, Edda, 2016. "Leaning against the wind: Macroprudential policy in Asia," Journal of Asian Economics, Elsevier, vol. 42(C), pages 33-52.
    47. Sami Alpanda & Alexander Ueberfeldt, 2016. "Should Monetary Policy Lean Against Housing Market Booms?," Staff Working Papers 16-19, Bank of Canada.
    48. Goodhart, C. A. E. & Romanidis, Nikolas & Tsomocos, Dimitri & Shubik, Martin, 2017. "Macro-modelling, default and money," LSE Research Online Documents on Economics 118968, London School of Economics and Political Science, LSE Library.
    49. Akıncı, Özge & Chahrour, Ryan, 2018. "Good news is bad news: Leverage cycles and sudden stops," Journal of International Economics, Elsevier, vol. 114(C), pages 362-375.
    50. Fornaro, Luca, 2015. "Financial crises and exchange rate policy," Journal of International Economics, Elsevier, vol. 95(2), pages 202-215.
    51. Korinek, Anton & Sandri, Damiano, 2016. "Capital controls or macroprudential regulation?," Journal of International Economics, Elsevier, vol. 99(S1), pages 27-42.
    52. Ernesto Pastén, 2014. "Bailouts and Prudential Policies - A Delicate Interaction," Working Papers Central Bank of Chile 743, Central Bank of Chile.
    53. Alpanda, Sami & Zubairy, Sarah, 2017. "Addressing household indebtedness: Monetary, fiscal or macroprudential policy?," European Economic Review, Elsevier, vol. 92(C), pages 47-73.
    54. Smets, Frank & Collard, Fabrice & Boissay, Frédéric, 2013. "Booms and systemic banking crises," Working Paper Series 1514, European Central Bank.
    55. Ernesto Pastén, 2011. "Time - Consistent Bailout Plans," Working Papers Central Bank of Chile 635, Central Bank of Chile.
    56. Christopher Otrok & Gianluca Benigno & Huigang Chen & Alessandro Rebucci & Eric R. Young, 2012. "Monetary and Macro-Prudential Policies: An Integrated Analysis," Working Papers 1208, Department of Economics, University of Missouri.
    57. Bianca De Paoli & Anna Lipinska, 2013. "Capital controls: a normative analysis," Staff Reports 600, Federal Reserve Bank of New York.
    58. Javier Bianchi & Enrique G Mendoza, 2011. "Optimal macroprudential regulation in a Fisherian model of financial crises," BIS Papers chapters, in: Bank for International Settlements (ed.), Macroprudential regulation and policy, volume 60, pages 66-72, Bank for International Settlements.
    59. Stelios Arvanitis & Alexandros Louka, 2015. "Martingale Transforms with Mixed Stable Limits and the QMLE for Conditionally Heteroskedastic Models," Working Papers 201508, Athens University Of Economics and Business, Department of Economics.
    60. Stephanie Johnson & John Mondragon & Anthony DeFusco, 2017. "Regulating Household Leverage," 2017 Meeting Papers 327, Society for Economic Dynamics.
    61. Gianluca Benigno & Luca Fornaro, 2013. "The Financial Resource Curse," CEP Discussion Papers dp1217, Centre for Economic Performance, LSE.
    62. Giancarlo Corsetti & Michael P. Devereux & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2011. "Chapter 5: Taxation and Regulation of the Financial Sector," EEAG Report on the European Economy, CESifo, vol. 0, pages 147-169, February.
    63. Paolo Angelini & Sergio Nicoletti-Altimari & Ignazio Visco, 2012. "Macroprudential, microprudential and monetary policies: conflicts, complementarities and trade-offs," Questioni di Economia e Finanza (Occasional Papers) 140, Bank of Italy, Economic Research and International Relations Area.
    64. Fabrice Collard & Harris Dellas & Behzad Diba & Olivier Loisel, 2012. "Optimal Monetary and Prudential Policies," Working Papers 2012-34, Center for Research in Economics and Statistics.
    65. Piergiorgio Alessandri & Haroon Mumtaz, 2017. "Financial conditions and density forecasts for US output and inflation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 24, pages 66-78, March.
    66. Javier Bianchi & Enrique G. Mendoza, 2013. "Optimal Time-Consistent Macroprudential Policy," NBER Working Papers 19704, National Bureau of Economic Research, Inc.
    67. Muhamed Zulkhibri & Ismaeel Naiya, 2016. "Assessment of Macroprudential Policy in a Dual Banking Sector," Working Papers 2016-2, The Islamic Research and Teaching Institute (IRTI).
    68. Chris Bloor & Rebecca Craigie & Anella Munro, 2012. "The macroeconomic effects of a stable funding requirement," Reserve Bank of New Zealand Discussion Paper Series DP2012/05, Reserve Bank of New Zealand.
    69. Fernández, Andrés & Rebucci, Alessandro & Uribe, Martín, 2015. "Are capital controls countercyclical?," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 1-14.
    70. Gianluca Benigno, 2014. "The Never-Ending Debate on Capital Flows," International Finance, Wiley Blackwell, vol. 17(1), pages 121-134, March.
    71. Fan,Yuting & Nguyen,Ha Minh & Qian,Rong & Nguyen,Ha Minh & Qian,Rong, 2012. "Collateralized Borrowing : Insights from The World Bank Enterprise Surveys," Policy Research Working Paper Series 6001, The World Bank.
    72. Gondo, Rocío, 2014. "State Contingent Assets, Financial Crises and Pecuniary Externalities in Models with Collateral Constraints," Working Papers 2014-001, Banco Central de Reserva del Perú.

  35. Ethan Ilzetzki & Enrique G. Mendoza & Carlos A. Végh, 2010. "How Big (Small?) are Fiscal Multipliers?," CEP Discussion Papers dp1016, Centre for Economic Performance, LSE.

    Cited by:

    1. Choi, Sangyup & Shin, Junhyeok & Yoo, Seung Yong, 2022. "Are government spending shocks inflationary at the zero lower bound? New evidence from daily data," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    2. Luca Metelli & Kevin Pallara, 2020. "Fiscal space and the size of the fiscal multiplier," Temi di discussione (Economic working papers) 1293, Bank of Italy, Economic Research and International Relations Area.
    3. Fernando Broner & Daragh Clancy & Alberto Martin & Aitor Erce, 2017. "Fiscal multipliers and foreign holdings of public debt," Economics Working Papers 1610, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2021.
    4. Tong Fu & Hongzhang Chen & Yongrok Choi, 2016. "Does the Sustainable PPI Investments Promote Financial Market’s Sustainable Development?," Sustainability, MDPI, vol. 8(2), pages 1-18, January.
    5. Gomez-Gonzalez, Jose Eduardo & Valencia, Oscar & Herrera, David & Zapata, Steven, 2020. "Sectoral Fiscal Multipliers and Budget Inflexibility: The Role of Allocative Inefficiency," Working papers 59, Red Investigadores de Economía.
    6. Wang, Shu-Ling, 2021. "Fiscal stimulus in a high-debt economy? A DSGE analysis," Economic Modelling, Elsevier, vol. 98(C), pages 118-135.
    7. Antonella Cavallo & Antonio Ribba, 2017. "Measuring the Effects of Oil Price and Euro-area Shocks on CEECs Business Cycles," Department of Economics 0111, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
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    674. Nicolas‐Guillaume Martineau & Gregor W. Smith, 2015. "Identifying fiscal policy (in)effectiveness from the differential counter‐cyclicality of government spending in the interwar period," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 48(4), pages 1291-1320, November.
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    681. Fardoust, Shahrokh & Ravishankar, V.J., 2013. "Subnational fiscal policy in large developing countries : some lessons from the 2008-09 crisis for Brazil, China and India," Policy Research Working Paper Series 6409, The World Bank.
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    Cited by:

    1. Pei Kuang, 2013. "Imperfect Knowledge About Asset Prices and Credit Cycles," Discussion Papers 13-02, Department of Economics, University of Birmingham.
    2. Mr. Enrique G. Mendoza & Javier Bianchi, 2011. "Overborrowing, Financial Crises and ‘Macro-prudential’ Policy," IMF Working Papers 2011/024, International Monetary Fund.
    3. Tamer Khraisha & Keren Arthur, 2018. "Can we have a general theory of financial innovation processes? A conceptual review," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 4(1), pages 1-27, December.
    4. Désiré Avom & Chrysost Bangake & Hermann Ndoya, 2023. "Do financial innovations improve financial inclusion? Evidence from mobile money adoption in Africa," Post-Print hal-04125452, HAL.
    5. Enrique Mendoza & Sergio Villalvazo, 2020. "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 81-102, July.
    6. Guibaud, Stéphane & Coeurdacier, Nicolas & Jin, Keyu, 2012. "Credit Constraints and Growth in a Global Economy," CEPR Discussion Papers 9109, Centre for Economic Policy Research.
    7. Colin C. Caines, 2016. "Can Learning Explain Boom-Bust Cycles In Asset Prices? An Application to the US Housing Boom," International Finance Discussion Papers 1181, Board of Governors of the Federal Reserve System (U.S.).
    8. Sezer Bozkus Kahyaoglu & M. Vedat Pazarlioglu, 2014. "Hedging Strategy for Electricity Market Price Volatility: The Case of Turkish Electricity Market," BIFEC Book of Abstracts & Proceedings, Research and Business Development Department, Borsa Istanbul, vol. 1(2), pages 196-210, March.
    9. Mogens Fosgerau & Jinwon Kim & Abhishek Ranjan, 2017. "Vickrey Meets Alonso: Commute Scheduling and Congestion in a Monocentric City," Discussion Papers 17-25, University of Copenhagen. Department of Economics.
    10. Federico Favaretto & Donato Masciandaro, 2014. "Behavioral Economics and Monetary Policy," BAFFI CAREFIN Working Papers 1501, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    11. Bassanin, Marzio & Faia, Ester & Patella, Valeria, 2021. "Ambiguity attitudes and the leverage cycle," Journal of International Economics, Elsevier, vol. 129(C).
    12. Larin, Benjamin, 2016. "Bubble-driven business cycles," Working Papers 143, University of Leipzig, Faculty of Economics and Management Science.
    13. Bengui, Julien & Phan, Toan, 2018. "Asset pledgeability and endogenously leveraged bubbles," Journal of Economic Theory, Elsevier, vol. 177(C), pages 280-314.
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    19. Javier Bianchi & Emine Boz & Enrique G. Mendoza, 2012. "Macro-Prudential Policy in a Fisherian model of Financial Innovation," NBER Working Papers 18036, National Bureau of Economic Research, Inc.
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    25. Kühnhausen, Fabian, 2014. "Financial Innovation and Fragility," Discussion Papers in Economics 21173, University of Munich, Department of Economics.
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    29. Bianchi, Javier & Liu, Chenxin & Mendoza, Enrique G., 2016. "Fundamentals news, global liquidity and macroprudential policy," Journal of International Economics, Elsevier, vol. 99(S1), pages 2-15.
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    36. Cesa-Bianchi, Ambrogio & Ferrero, Andrea & Rebucci, Alessandro, 2018. "International credit supply shocks," Journal of International Economics, Elsevier, vol. 112(C), pages 219-237.
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    43. Tolendi Ashimbayev* & Sarkyt Tashenova & Yevgeniy Sadvakassov & Alma Karshalova, 2018. "Trends in Developing Financial Innovations in the Course of the Economic Development in Russia," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 44-51:3.
    44. Orhan Erdem & Evren Arik & Serkan Yuksel, 2014. "Trading Puzzle," BIFEC Book of Abstracts & Proceedings, Research and Business Development Department, Borsa Istanbul, vol. 1(2), pages 66-81, March.
    45. Sudipto Bhattacharya & Charles A.E. Goodhart & Dimitrios P. Tsomocos & Alexandros P. Vardoulakis, 2015. "A Reconsideration of Minsky's Financial Instability Hypothesis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(5), pages 931-973, August.
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    48. Barbara Annicchiarico & Silvia Surricchio & Robert J. Waldmann, 2018. "A Behavioral Model of the Credit Cycle," CEIS Research Paper 446, Tor Vergata University, CEIS, revised 30 Oct 2018.
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    54. Andrea Ferrero & Richard Harrison & Benjamin Nelson, 2022. "House price dynamics, optimal LTV limits and the liquidity trap," Bank of England Staff Working Paper series 969, Bank of England.
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    57. Jian-Hang Wang & Yu-Hsien Wu & Phil Yihsing Yang & Hsiang-Yi Hsu, 2023. "Sustainable Innovation and Firm Performance Driven by FinTech Policies: Moderating Effect of Capital Adequacy Ratio," Sustainability, MDPI, vol. 15(11), pages 1-15, May.
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    63. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    64. Massimo Arnone & Alberto Costantiello & Angelo Leogrande & Syed Kafait Hussain Naqvi & Cosimo Magazzino, 2024. "Financial Stability and Innovation: The Role of Non-Performing Loans," FinTech, MDPI, vol. 3(4), pages 1-41, October.
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    67. Arce, Fernando, 2021. "Private Overborrowing under Sovereign Risk," MPRA Paper 113176, University Library of Munich, Germany.
    68. Richter, Alexander W. & Throckmorton, Nathaniel A., 2015. "The consequences of an unknown debt target," European Economic Review, Elsevier, vol. 78(C), pages 76-96.
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    71. Barattieri, Alessandro & Moretti, Laura & Quadrini, Vincenzo, 2021. "Banks funding, leverage, and investment," Journal of Financial Economics, Elsevier, vol. 141(1), pages 148-171.
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    74. Kais Tissaoui & Taha Zaghdoudi & Sahbi Boubaker & Besma Hkiri & Mariem Talbi, 2024. "Testing the Nonlinear Long- and Short-Run Distributional Asymmetries Effects of Bitcoin Prices on Bitcoin Energy Consumption: New Insights through the QNARDL Model and XGBoost Machine-Learning Tool," Energies, MDPI, vol. 17(12), pages 1-19, June.
    75. Basak, Deepal & Murray, Alexander & Zhao, Yunhui, 2017. "Does Financial Tranquility Call for More Stringent Regulation?," MPRA Paper 81373, University Library of Munich, Germany.
    76. Nan Li & Chris Papageorgiou & Tong Xu & Tao Zha, 2026. "Policy Contagion: What Do We Learn From Financial Reforms?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 67(1), pages 59-78, February.
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    1. Dirk G. Baur & Thomas K. McDermott, "undated". "Is gold a safe haven? International evidence," The Institute for International Integration Studies Discussion Paper Series iiisdp310, IIIS.
    2. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    3. Mr. Enrique G. Mendoza & Javier Bianchi, 2011. "Overborrowing, Financial Crises and ‘Macro-prudential’ Policy," IMF Working Papers 2011/024, International Monetary Fund.
    4. Jürgen von Hagen & Haiping Zhang, 2014. "International Capital Flows in the Model with Limited Commitment and Incomplete Markets," Open Economies Review, Springer, vol. 25(1), pages 195-224, February.
    5. Christopher M. Gunn & Alok Johri, 2015. "Financial News, Banks and Business Cycles," Department of Economics Working Papers 2015-12, McMaster University.
    6. Alexandra Born & Zeno Enders, 2018. "Global Banking, Trade, and the International Transmission of the Great Recession," CESifo Working Paper Series 6912, CESifo.
    7. Huang, Chai Liang, 2020. "International stock market co-movements following US financial globalization," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 788-814.
    8. Jingjing Lyu & Bernd Süssmuth, 2024. "Global Linkages across Sectors and Frequency Bands: A Band Spectral Panel Regression Approach," CESifo Working Paper Series 10970, CESifo.
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    3. Gnidchenko, Andrey, 2010. "Defragmentation of Economic Growth with a Focus on Diversification: Evidence from Russian Economy," MPRA Paper 27113, University Library of Munich, Germany.
    4. Alexis Habiyaremye & Olebogeng Molewa & Pelontle Lekomanyane, 2022. "Estimating Employment Gains of the Proposed Infrastructure Stimulus Plan in Post-Covid-19 South Africa," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 34(1), pages 540-567, February.
    5. Jokivuolle, Esa & Pesola, Jarmo & Viren, Matti, 2015. "Why is credit-to-GDP a good measure for setting countercyclical capital buffers?," Journal of Financial Stability, Elsevier, vol. 18(C), pages 117-126.
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    15. Eskelinen, Niko & Jernström, Laura & Salokangas, Henri, 2025. "Parental Job Loss and Children’s Socioeconomic Disadvantage," SocArXiv bs3fd_v1, Center for Open Science.
    16. Mikko Aaltonen & Joonas Pitkänen & Sasu Tyni & Pekka T Martikainen, 2024. "The changing socioeconomic composition of the Finnish prison population," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 51(27), pages 823-854.
    17. Tavares, Tiago, 2019. "Labor market distortions under sovereign debt default crises," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
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    19. Bharadwaj, Prashant & Bietenbeck, Jan & Lundborg, Petter & Rooth, Dan-Olof, 2019. "Birth weight and vulnerability to a macroeconomic crisis," Journal of Health Economics, Elsevier, vol. 66(C), pages 136-144.
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    21. Einiö, Elias, 2016. "The loss of production work: evidence from quasiexperimental identification of labour demand functions," LSE Research Online Documents on Economics 69019, London School of Economics and Political Science, LSE Library.
    22. Petroulakis, Filippos, 2017. "Internal devaluation in currency unions: the role of trade costs and taxes," Working Paper Series 2049, European Central Bank.
    23. Böckerman, Petri & Laaksonen, Seppo & Vainiomäki, Jari, 2009. "Micro-level Rigidity vs. Macro-level Flexibility: Lessons from Finland," MPRA Paper 15061, University Library of Munich, Germany.
    24. Cheung, Zeerim & Aalto, Eero & Nevalainen, Pasi, 2020. "Institutional Logics and the Internationalization of a State-Owned Enterprise: Evaluation of International Venture Opportunities by Telecom Finland 1987–1998," Journal of World Business, Elsevier, vol. 55(6).
    25. Lyubimov, I. & Iakubovskii, I., 2020. "How to make economic complexity index more complex: Taking export geography into account," Journal of the New Economic Association, New Economic Association, vol. 47(3), pages 12-39.
    26. Jokivuolle, Esa & Pesola, Jarmo & Virén, Matti, 2014. "What drives loan losses in Europe?," Bank of Finland Research Discussion Papers 6/2014, Bank of Finland.
    27. Tannous Kass-Hanna & Julien Reynaud & Chris Walker, 2023. "Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia," IMF Working Papers 2023/240, International Monetary Fund.
    28. Fève, Patrick & Moura, Alban & Pierrard, Olivier, 2022. "The fall in shadow banking and the slow U.S. recovery," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    29. Jokivuolle, Esa & Virén, Matti & Vähämaa, Oskari, 2009. "Transmission of macro shocks to loan losses in a deep crisis: the case of Finland," Bank of Finland Research Discussion Papers 26/2009, Bank of Finland.
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    34. Tavares, Tiago, 2015. "Labor Market Distortions under Sovereign Default Crises," MPRA Paper 66964, University Library of Munich, Germany.
    35. Marie-Pierre Hory, 2016. "Fiscal multipliers in Emerging Market Economies: Can we learn something from Advanced Economies?," International Economics, CEPII research center, issue 146, pages 59-84.
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    37. Sonya Georgieva, 2021. "Fiscal Multipliers in Bulgaria and Central and Eastern Europe Countries," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 131-167.
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    41. Ylhäinen, Ilkka, 2017. "Life-cycle effects in small business finance," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 176-196.
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    43. Choi, Yoonseok & Hirata, Hideaki & Kim, Sunghyun Henry, 2017. "Tax reform in Japan: Is it welfare-enhancing?," Japan and the World Economy, Elsevier, vol. 42(C), pages 12-22.
    44. Francesco Zezza & Dario Guarascio, 2024. "Fiscal policy, public investment and structural change: a P-SVAR analysis on Italian regions," Regional Studies, Taylor & Francis Journals, vol. 58(6), pages 1356-1373, June.
    45. James Bohn, 2021. "Déjà vu All Over Again? Learning from Nonfinancial Business Credit Booms and Busts of the Past," Supervisory Research and Analysis Notes, Federal Reserve Bank of Boston, issue 2021-04, pages 1-32, August.
    46. Hansen, G.D. & Ohanian, L.E., 2016. "Neoclassical Models in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2043-2130, Elsevier.
    47. Petar Stankov, 2013. "Crises, Reforms and Growth: A Non-Technical Summary of Recent Empirical Work," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 55-61, December.
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    49. Torben K. Mideksa, 2021. "Pricing for a Cooler Planet: An Empirical Analysis of the Effect of Taxing Carbon," CESifo Working Paper Series 9172, CESifo.
    50. Ingram, Darren, 2016. "Public relations and external communications as an aid to export : Examination of leading companies in Western Finland," Thesis Commons c2t4d, Center for Open Science.
    51. Pekka Ahtiala & Juha Junttila, 2020. "Finland’s great depression of the 1990s: Lessons about financial reform based on econometric macro evidence," Review of Financial Economics, John Wiley & Sons, vol. 38(S1), pages 188-209, March.
    52. Zeerim Cheung & Aleksi Niittymies, 2026. "Parallel internationalization during radical industry transformations: the case of Telecom Finland," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 57(4), pages 618-635, June.
    53. Simona E. Cociuba, 2018. "The Collapse and Recovery of the Capital Share in East Germany After 1989," University of Western Ontario, Departmental Research Report Series 20185, University of Western Ontario, Department of Economics.
    54. Petri Böckerman & Seppo Laaksonen & Jari Vainiomäki, 2010. "Micro and Macro Level Wage Rigidity: Lessons from Finland," Finnish Economic Papers, Finnish Economic Association, vol. 23(1), pages 27-42, Spring.
    55. Andrea Boitani & Salvatore Perdichizzi & Chiara Punzo, 2022. "Nonlinearities and expenditure multipliers in the Eurozone [Tales of fiscal adjustment]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(2), pages 552-575.
    56. Pascal Michaillat, 2010. "Do Matching Frictions Explain Unemployment? Not in Bad Times," CEP Discussion Papers dp1024, Centre for Economic Performance, LSE.
    57. Allen, Franklin & Bartiloro, Laura & Gu, Xian & Kowalewski, Oskar, 2018. "Does economic structure determine financial structure?," Journal of International Economics, Elsevier, vol. 114(C), pages 389-409.
    58. Dmitry Rudenko, 2026. "Shifting realities: The unintended consequences of sanctions against Russia on the Finnish economy," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 81, pages 7-25.
    59. Yothin Jinjarak & Kanda Naknoi, 2013. "Real Exchange Rate Fluctuations, Wage Stickiness and Tradability," Working papers 2013-01, University of Connecticut, Department of Economics.
    60. Doris Prammer & Lukas Reiss, 2017. "Three small essays on public investment: economic rationales, the EU fiscal framework and some statistical comparisons," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q4/17, pages 32-47.
    61. Päällysaho, Miika Matias, 2017. "The Short- and Long-Term Effects of Graduating During a Recession: Evidence from Finland," Working Papers 96, VATT Institute for Economic Research.
    62. Kuusi, Tero, 2018. "Does the structural budget balance guide fiscal policy pro-cyclically? Evidence from the Finnish Great Depression of the 1990s," MPRA Paper 84829, University Library of Munich, Germany.
    63. Sebastian Stumpner, 2014. "Trade and the Geographic Spread of the Great Recession," 2014 Meeting Papers 638, Society for Economic Dynamics.
    64. Yannis M. Ioannides, 2015. "Why Productivity Enhancing Reforms Will Help Greece Exit the Crisis and Usher in Long Run Growth," Discussion Papers Series, Department of Economics, Tufts University 0807, Department of Economics, Tufts University.
    65. Ruy Lama & Juan Pablo Medina, 2019. "Fiscal Deficits and Unemployment Dynamics: The Role of Productivity Gains and Wage Rigidities," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 34, pages 121-140, October.
    66. Kanda Naknoi, 2017. "Real exchange rate fluctuations, wage stickiness and tradability," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(1), pages 94-110, February.
    67. Yuriy Gorodnichenko & Enrique G. Mendoza & Linda L. Tesar, 2012. "The Finnish Great Depression: From Russia with Love," American Economic Review, American Economic Association, vol. 102(4), pages 1619-1644, June.
    68. Angela Köppl & Margit Schratzenstaller-Altzinger, 2022. "Macroeconomic Effects of Green Recovery Programmes. Conceptual Framing and a Review of the Empirical Literature," WIFO Working Papers 646, WIFO.
    69. Enrico Gabriele, 2017. "Re-Evaluating The Keynesian Multiplier: Critiques And Evidence From Europe," CERBE Working Papers wpC21, CERBE Center for Relationship Banking and Economics.
    70. Salokangas, Henri & Böckerman, Petri & Huikari, Sanna & Korhonen, Marko & Korpelainen, Raija & Svento, Rauli, 2022. "Did the Finnish depression of the early 1990s have a silver lining? The effect of unemployment on long-term physical activity," Economics & Human Biology, Elsevier, vol. 46(C).
    71. Oskari Harjunen & Matti Liski, 2014. "Not so Myopic Consumers - Evidence on Capitalization of Energy Technologies in a Housing Market," CESifo Working Paper Series 4989, CESifo.
    72. Henri Keränen & Sakari Lähdemäki, 2020. "Identification of fiscal SVARs in small open economies using trading partner forecast errors as instruments," Working Papers 330, Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE.
    73. Petar Stankov, 2018. "Banking Crises and Reversals in Financial Reforms," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 68(5), pages 442-459, October.
    74. Nicoletta Batini & Mr. Luc Eyraud & Miss Anke Weber, 2014. "A Simple Method to Compute Fiscal Multipliers," IMF Working Papers 2014/093, International Monetary Fund.
    75. Huttunen, Kristiina & Riukula, Krista, 2024. "Parental job loss and children’s career choices," Labour Economics, Elsevier, vol. 90(C).
    76. Gulan, Adam & Haavio, Markus & Kilponen, Juha, 2014. "Kiss me deadly: From Finnish great depression to great recession," Bank of Finland Research Discussion Papers 24/2014, Bank of Finland.
    77. Pertti Ahonen, 2016. "A Weberian Study of Small, Prosperous Democracies," SAGE Open, , vol. 6(4), pages 21582440166, November.
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    79. Einiö, Elias, 2015. "The Loss of Production Work: Identification of Demand Shifts Based on Local Soviet Trade Shocks," Working Papers 61, VATT Institute for Economic Research.
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    81. Peruzzi, Michele & Terzi, Alessio, 2021. "Accelerating Economic Growth: The Science beneath the Art," Economic Modelling, Elsevier, vol. 103(C).
    82. Berglund, Tom & Mäkinen, Mikko, 2019. "Do banks learn from financial crisis? The experience of Nordic banks," Research in International Business and Finance, Elsevier, vol. 47(C), pages 428-440.
    83. Vlasov, S. & Deryugina, E., 2018. "Fiscal Multipliers in Russia," Journal of the New Economic Association, New Economic Association, vol. 38(2), pages 104-119.
    84. El Mostafa Bentour, 2023. "On the government consumption multipliers evolvement over time: an SVAR analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 30(12), pages 1612-1617, July.
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  39. Vivian Z. Yue & Enrique G. Mendoza, 2009. "A Solution to the Default Risk-Business Cycle Disconnect," 2009 Meeting Papers 76, Society for Economic Dynamics.

    Cited by:

    1. Vivian Norambuena, 2015. "Sovereign Debt Default: Are Countries Trapped by Their Own Default History?," Working Papers wp416, University of Chile, Department of Economics.
    2. Kiarash Firouzi, 2025. "A Tokenized Sovereign Debt Conversion Mechanism for Dynamic Public Debt Reduction," Papers 2508.00019, arXiv.org.
    3. Christoph Trebesch & Mr. Michael G. Papaioannou & Mr. Udaibir S Das, 2012. "Sovereign Debt Restructurings 1950-2010: Literature Survey, Data, and Stylized Facts," IMF Working Papers 2012/203, International Monetary Fund.
    4. Fernando Broner & Alberto Martin & Jaume Ventura, 2010. "Sovereign Risk and Secondary Markets," American Economic Review, American Economic Association, vol. 100(4), pages 1523-1555, September.
    5. Demirel Ufuk D, 2009. "The Transmission of Foreign Interest Rate Shocks to a Small-Open Economy: The Role of External Debt and Financial Integration," The B.E. Journal of Macroeconomics, De Gruyter, vol. 9(1), pages 1-37, February.
    6. Enrique G. Mendoza, 2010. "Sudden Stops, Financial Crises, and Leverage," American Economic Review, American Economic Association, vol. 100(5), pages 1941-1966, December.
    7. Alfaro, Laura & Kanczuk, Fabio, 2009. "Optimal reserve management and sovereign debt," Journal of International Economics, Elsevier, vol. 77(1), pages 23-36, February.
    8. Pablo D'Erasmo & Bora Durdu & Emine Boz, 2013. "Sovereign Default Risk and Bank Balance Sheets," 2013 Meeting Papers 1045, Society for Economic Dynamics.
    9. Pablo D'Erasmo & Bora Durdu & Emine Boz, 2014. "Sovereign Risk and Bank Balance Sheets: The Role of Macroprudential Policies," 2014 Meeting Papers 641, Society for Economic Dynamics.
    10. Yeyati, Eduardo Levy & Panizza, Ugo, 2011. "The elusive costs of sovereign defaults," Journal of Development Economics, Elsevier, vol. 94(1), pages 95-105, January.
    11. Gao, Xiang, 2009. "Macroeconomic Analysis on the Basis of Trade Theory: A Review Essay," MPRA Paper 18380, University Library of Munich, Germany.
    12. Arturo Antón-Sarabia & Fausto Hernández-Trillo, 2010. "VAT Collection and Social Security Contributions under Tax Evasion: Is There a Link?," Working Papers DTE 480, CIDE, División de Economía.
    13. Ms. Emine Boz, 2009. "Sovereign Default, Private Sector Creditors and the IFIs," IMF Working Papers 2009/046, International Monetary Fund.
    14. Tamon Asonuma, 2010. "Serial Default and Debt Renegotiation," 2010 Meeting Papers 169, Society for Economic Dynamics.
    15. Troy Davig & Eric M. Leeper & Todd B. Walker, 2010. ""Unfunded Liabilities" and Uncertain Fiscal Financing," NBER Working Papers 15782, National Bureau of Economic Research, Inc.
    16. Nicola Gennaioli & Alberto Martin & Stefano Rossi, 2009. "Sovereign default, domestic banks and financial institutions," Economics Working Papers 1170, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2012.
    17. Bertrand Gruss & Karel Mertens, 2009. "Regime Switching Interest Rates and Fluctuations in Emerging Markets," Economics Working Papers ECO2009/22, European University Institute.
    18. Li, Jinyue, 2018. "Sudden stops, financial frictions, and the banking sector," Journal of International Money and Finance, Elsevier, vol. 87(C), pages 144-154.
    19. Juan Carlos Hatchondo & Leonardo Martinez, 2012. "Debt dilution and sovereign default risk," Working Paper 10-08, Federal Reserve Bank of Richmond.
    20. Zhongyuan Geng & Xuan Liu, 2019. "Optimal input trade policy under economic uncertainties in a small open economy," Applied Economics, Taylor & Francis Journals, vol. 51(20), pages 2155-2171, April.
    21. Christoph Trebesch, 2009. "The Cost of Aggressive Sovereign Debt Policies: How Much is theprivate Sector Affected?," IMF Working Papers 2009/029, International Monetary Fund.
    22. Eduardo Borensztein & Ugo Panizza, 2009. "The Costs of Sovereign Default," IMF Staff Papers, Palgrave Macmillan, vol. 56(4), pages 683-741, November.
    23. Richard E. Ericson & Xuan Liu, 2012. "Welfare effect of interest rate shocks and policy implications," Applied Financial Economics, Taylor & Francis Journals, vol. 22(22), pages 1899-1917, November.
    24. Meza, Felipe & Urrutia, Carlos, 2011. "Financial liberalization, structural change, and real exchange rate appreciations," Journal of International Economics, Elsevier, vol. 85(2), pages 317-328.
    25. Satyajit Chatterjee & Burcu Eyigungor, 2011. "Maturity, indebtedness, and default risk," Working Papers 11-33, Federal Reserve Bank of Philadelphia.
    26. Ghulam, Yaseen & Derber, Julian, 2018. "Determinants of sovereign defaults," The Quarterly Review of Economics and Finance, Elsevier, vol. 69(C), pages 43-55.
    27. Demirel, Ufuk Devrim, 2010. "Macroeconomic stabilization in developing economies: Are optimal policies procyclical?," European Economic Review, Elsevier, vol. 54(3), pages 409-428, April.
    28. Bora Durdu & Ricardo Nunes & Horacio Sapriza, 2010. "News and sovereign default risk in small open economies," International Finance Discussion Papers 997, Board of Governors of the Federal Reserve System (U.S.).
    29. Angelo Marsiglia Fasolo, 2014. "The Ramsey Steady State under Optimal Monetary and Fiscal Policy for Small Open Economies," Working Papers Series 357, Central Bank of Brazil, Research Department.
    30. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2010. "International Government Debt," Business School Working Papers 2010-03, Universidad Torcuato Di Tella.
    31. Antón-Sarabia, Arturo & Hernández, Fausto, 2010. "VAT Collection and Social Security Contributions: Is There a Link?," IDB Publications (Working Papers) 4548, Inter-American Development Bank.
    32. Huixin Bi & Eric M. Leeper, 2010. "Sovereign Debt Risk Premia and Fiscal Policy in Sweden," NBER Working Papers 15810, National Bureau of Economic Research, Inc.
    33. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2009. "The Economics and Law of Sovereign Debt and Default," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 651-698, September.
    34. Roberto Piazza, 2014. "Growth and Crisis, Unavoidable Connection?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(4), pages 677-706, October.
    35. Felipe Meza & Carlos Urrutia, 2008. "Great Appreciations: Accounting for the Real Exchange Rate in Mexico, 1988-2002," Working Papers 0807, Centro de Investigacion Economica, ITAM.
    36. Bora Durdu & Emine Boz, 2011. "Emerging Market Business Cycles: The Role of Labor Market Frictions," 2011 Meeting Papers 1092, Society for Economic Dynamics.
    37. Hatchondo, Juan Carlos & Martinez, Leonardo, 2009. "Long-duration bonds and sovereign defaults," Journal of International Economics, Elsevier, vol. 79(1), pages 117-125, September.
    38. Juan M. Sanchez, 2009. "The role of information in the rise in consumer bankruptcies," Working Paper 09-04, Federal Reserve Bank of Richmond.
    39. Gita Gopinath & Brent Neiman, 2011. "Trade adjustment and productivity in large crises," Working Papers 11-9, Federal Reserve Bank of Boston.
    40. Mr. Udaibir S Das & Mr. Michael G. Papaioannou & Christoph Trebesch, 2010. "Sovereign Default Risk and Private Sector Access to Capital in Emerging Markets," IMF Working Papers 2010/010, International Monetary Fund.
    41. Nan Li, 2011. "Cyclical Wage Movements in Emerging Markets Compared to Developed Economies: the Role of Interest Rates," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(4), pages 686-704, October.

  40. Bora Durdu & Enrique G. Mendoza & Marco E. Terrones, 2009. "On the solvency of nations: are global imbalances consistent with intertemporal budget constraints?," International Finance Discussion Papers 975, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Mariam Camarero & Josep Lluís Carrion-i-Silvestre & Cecilio Tamarit, 2021. "Análisis de la sostenibilidad del sector exterior en la OCDE con técnicas de multicointegración," Working Papers 2112, Department of Applied Economics II, Universidad de Valencia.
    2. Mariam Camarero & Josep Lluís Carrion-i-Silvestre & Cecilio Tamarit, 2013. "Global imbalances and the Intertemporal External Budget Constraint: A multicointegration approach," Working Papers 1303, Department of Applied Economics II, Universidad de Valencia.
    3. Christian Schoder & Christian R. Proaño & Willi Semmler, 2011. "Are Current Account Imbalances Between EMU Countries Sustainable? Evidence from Parametric and Non-Parametric Tests," SCEPA working paper series. 2011-6, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    4. Oscar Bajo-Rubio & Carmen Díaz-Roldán & Vicente Esteve, 2012. "Sustainability of external imbalances in the OECD countries," Working Papers 1201, Department of Applied Economics II, Universidad de Valencia.
    5. Christian Schoder & Christian R. Proaño & Willi Semmler, 2012. "Are the current account imbalances between EMU countries sustainable?," IMK Working Paper 90-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

  41. Enrique G. Mendoza & Vivian Z. Yue, 2008. "A Solution to the Disconnect between Country Risk and Business Cycle Theories," NBER Working Papers 13861, National Bureau of Economic Research, Inc.

    Cited by:

    1. Cristina Arellano & Narayana Kocherlakota, 2008. "Internal Debt Crises and Sovereign Defaults," Levine's Bibliography 122247000000001880, UCLA Department of Economics.
    2. Demian Pouzo & Ignacio Presno, 2012. "Sovereign default risk and uncertainty premia," Working Papers 12-11, Federal Reserve Bank of Boston.
    3. Enrique G. Mendoza, 2008. "Sudden stops, financial crises and leverage: a Fisherian deflation of Tobin's Q," International Finance Discussion Papers 960, Board of Governors of the Federal Reserve System (U.S.).
    4. Gao, Xiang, 2009. "Macroeconomic Analysis on the Basis of Trade Theory: A Review Essay," MPRA Paper 18380, University Library of Munich, Germany.
    5. Ms. Emine Boz, 2009. "Sovereign Default, Private Sector Creditors and the IFIs," IMF Working Papers 2009/046, International Monetary Fund.
    6. Dailami, Mansoor, 2010. "Sovereign debt distress and corporate spillover impacts," Policy Research Working Paper Series 5380, The World Bank.
    7. Stephanie Schmitt-Grohé & Martin Uríbe, 2011. "Pegs and Pain," NBER Working Papers 16847, National Bureau of Economic Research, Inc.
    8. Juan Carlos Hatchondo & Leonardo Martinez, 2009. "Long-duration bonds and sovereign defaults," Working Paper 08-02, Federal Reserve Bank of Richmond.
    9. Christoph Trebesch, 2009. "The Cost of Aggressive Sovereign Debt Policies: How Much is theprivate Sector Affected?," IMF Working Papers 2009/029, International Monetary Fund.
    10. Peter Sinclair, 2011. "Deficits, Debts and Defaults - Past, Present and Future," Discussion Papers 11-20, Department of Economics, University of Birmingham.
    11. S. Meral Cakici, 2011. "Default Risk Premium and Aggregate Fluctuations in a Small Open Economy," Koç University-TUSIAD Economic Research Forum Working Papers 1131, Koc University-TUSIAD Economic Research Forum.
    12. Romain Ranciere & Ana Fostel & Luis Catao, 2011. "Sudden Stops and Sovereign Defaults," 2011 Meeting Papers 1359, Society for Economic Dynamics.
    13. Catão, Luis A.V. & Fostel, Ana & Kapur, Sandeep, 2009. "Persistent gaps and default traps," Journal of Development Economics, Elsevier, vol. 89(2), pages 271-284, July.
    14. Davig, Troy & Leeper, Eric M. & Walker, Todd B., 2010. ""Unfunded liabilities" and uncertain fiscal financing," Journal of Monetary Economics, Elsevier, vol. 57(5), pages 600-619, July.
    15. Cakici, S. Meral, 2024. "Risk premium in a real business cycle framework," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 111-122.
    16. Daude, Christian, 2012. "Sovereign default risk and volatility," Economics Letters, Elsevier, vol. 114(1), pages 47-50.
    17. Juan M. Sanchez, 2009. "The role of information in the rise in consumer bankruptcies," Working Paper 09-04, Federal Reserve Bank of Richmond.
    18. Mr. Udaibir S Das & Mr. Michael G. Papaioannou & Christoph Trebesch, 2010. "Sovereign Default Risk and Private Sector Access to Capital in Emerging Markets," IMF Working Papers 2010/010, International Monetary Fund.

  42. Enrique G. Mendoza & Marco E. Terrones, 2008. "An anatomy of credit booms: evidence from macro aggregates and micro data," International Finance Discussion Papers 936, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Valentina Aprigliano & Danilo Liberati, 2019. "Using credit variables to date business cycle and to estimate the probabilities of recession in real time," Temi di discussione (Economic working papers) 1229, Bank of Italy, Economic Research and International Relations Area.
    2. Antonakakis, Nikolaos & Breitenlechner, Max & Scharler, Johann, 2015. "Business cycle and financial cycle spillovers in the G7 countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 58(C), pages 154-162.
    3. Haug, Peter (Ed.) & Rosenfeld, Martin T. W. (Ed.) & Weiß, Dominik (Ed.), 2012. "Zur Zukunft der kommunalen Wohnungspolitik in Deutschland und Europa. Tagungsband: Referate und Diskussionen im Rahmen des 3. Halleschen Kolloquiums zur Kommunalen Wirtschaft am 5. und 6. November 2009," IWH-Sonderhefte 3/2012, Halle Institute for Economic Research (IWH).
    4. Claessens, Stijn & Kose, M. Ayhan & Terrones, Marco E., 2012. "How do business and financial cycles interact?," Journal of International Economics, Elsevier, vol. 87(1), pages 178-190.
    5. Guarin, Alexander & Lozano, Ignacio, 2017. "Credit funding and banking fragility: A forecasting model for emerging economies," Emerging Markets Review, Elsevier, vol. 32(C), pages 168-189.
    6. Hakan Kara, 2016. "A brief assessment of Turkey's macroprudential policy approach : 2011–2015," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 16(3), pages 85-92.
    7. Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2011. "When credit bites back: leverage, business cycles, and crises," Working Paper Series 2011-27, Federal Reserve Bank of San Francisco.
    8. Bertrand Gruss & Silvia Sgherri, 2009. "The Volatility Costs of Procyclical Lending Standards: An Assessment Using a DSGE Model," Economics Working Papers ECO2009/07, European University Institute.
    9. Kubin, Ingrid & Zörner, Thomas O. & Gardini, Laura & Commendatore, Pasquale, 2019. "A credit cycle model with market sentiments," Structural Change and Economic Dynamics, Elsevier, vol. 50(C), pages 159-174.
    10. A.Hakan KARA, 2012. "Küresel kriz sonrası para politikası," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 27(315), pages 09-36.
    11. Ignacio Lozano & Alexander Guarín, 2014. "Fragilidad Bancaria en Colombia: Un Análisis Basado en las Hojas de Balance," Borradores de Economia 813, Banco de la Republica de Colombia.
    12. Mikkel Hermansen & Oliver Röhn, 2015. "Economic resilience: The usefulness of early warning indicators in OECD countries," OECD Economics Department Working Papers 1250, OECD Publishing.
    13. Tongurai, Jittima & Vithessonthi, Chaiporn, 2018. "The impact of the banking sector on economic structure and growth," International Review of Financial Analysis, Elsevier, vol. 56(C), pages 193-207.
    14. Mr. Enrique G. Mendoza & Javier Bianchi, 2011. "Overborrowing, Financial Crises and ‘Macro-prudential’ Policy," IMF Working Papers 2011/024, International Monetary Fund.
    15. Mr. Marco Arena & Serpil Bouza & Ms. Era Dabla-Norris & Mrs. Kerstin Gerling & Lamin Njie, 2015. "Credit Booms and Macroeconomic Dynamics: Stylized Facts and Lessons for Low-Income Countries," IMF Working Papers 2015/011, International Monetary Fund.
    16. Yulia Vymyatnina & Mikhail Pakhnin, 2014. "Application of Minsky's Theory to State-Dominated Economies," EUSP Department of Economics Working Paper Series 2014/03, European University at St. Petersburg, Department of Economics.
    17. Rebucci, Alessandro & Ferrero, Andrea & Cesa-Bianchi, Ambrogio, 2017. "International Credit Supply Shocks," CEPR Discussion Papers 12501, Centre for Economic Policy Research.
    18. Patty Duijm, 2022. "Foreign‐funded credit: Funding the credit cycle?," International Finance, Wiley Blackwell, vol. 25(2), pages 167-182, August.
    19. Constantinescu, Mihnea & Nguyen, Anh Dinh Minh, 2021. "A century of gaps: Untangling business cycles from secular trends," Economic Modelling, Elsevier, vol. 100(C).
    20. Daniel Gurara & Mr. Kangni R Kpodar & Mr. Andrea F Presbitero & Dawit Tessema, 2020. "On the Capacity to Absorb Public Investment: How Much is Too Much?," IMF Working Papers 2020/048, International Monetary Fund.
    21. Anusha Chari & Ryan Leary & Toan Phan, 2025. "The Transmission of Quasi-Sovereign Default Risk: Evidence from Puerto Rico," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(2), pages 556-595, June.
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    434. Feldkircher, Martin, 2012. "The determinants of vulnerability to the global financial crisis 2008 to 2009: Credit growth and other sources of risk," BOFIT Discussion Papers 26/2012, Bank of Finland Institute for Emerging Economies (BOFIT).
    435. Francesco Gangi & Carmen Trotta, 2015. "The ethical finance as a response to the financial crises: an empirical survey of European SRFs performance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(2), pages 371-394, May.
    436. Renzo G Rossini and Zenón Quispe, 2017. "Implementation of macroprudential policy in Peru," BIS Papers chapters, in: Bank for International Settlements (ed.), Macroprudential policy frameworks, implementation and relationships with other policies, volume 94, pages 257-275, Bank for International Settlements.

  43. Enrique G. Mendoza, 2008. "Sudden stops, financial crises and leverage: a Fisherian deflation of Tobin's Q," International Finance Discussion Papers 960, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Daniel Levy & Tamir Mayer & Alon Raviv, 2022. "Economists in the 2008 Financial Crisis: Slow to See, Fast to Act," Working Papers 2022-01, Bar-Ilan University, Department of Economics.
    2. Vincenzo Quadrini & Enrique G. Mendoza, 2010. "Financial Globalization, Financial Crises and Contagion," 2010 Meeting Papers 841, Society for Economic Dynamics.
    3. Philip L. Brock, 2009. "Collateral Constraints and Macroeconomic Adjustment in an Open Economy," Working Papers UWEC-2009-03, University of Washington, Department of Economics.
    4. Zheng Liu & Pengfei Wang & Tao Zha, 2009. "Do credit constraints amplify macroeconomic fluctuations?," Working Paper Series 2009-28, Federal Reserve Bank of San Francisco.
    5. T.V.S. Ramamohan Rao, 2010. "Financial crisis, efficient bailouts, and regulatory policy," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 3(2), pages 167-188.
    6. Mr. Marco Terrones & Mr. Ayhan Kose & Mr. Stijn Claessens, 2008. "What Happens During Recessions, Crunches and Busts?," IMF Working Papers 2008/274, International Monetary Fund.
    7. Cowan, Kevin & Raddatz, Claudio, 2013. "Sudden stops and financial frictions: Evidence from industry-level data," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 99-128.
    8. Argandoña, Antonio, 2012. "Three ethical dimensions of the financial crisis," IESE Research Papers D/944, IESE Business School.
    9. Kamber, Günes & Smith, Christie & Thoenissen, Christoph, 2015. "Financial frictions and the role of investment-specific technology shocks in the business cycle," Economic Modelling, Elsevier, vol. 51(C), pages 571-582.
    10. Feng Guo & Jie Li & Ming Li, 2021. "The sudden stops of debt‐led capital inflows, credit crunch, and exchange rate regimes," Review of Development Economics, Wiley Blackwell, vol. 25(2), pages 956-977, May.
    11. Brahima Coulibaly & Jonathan Millar, 2011. "Investment Dynamics in the Aftermath of the Asian Financial Crisis: A Firm-Level Analysis," International Finance, Wiley Blackwell, vol. 14(2), pages 331-359, June.
    12. Hevia, Constantino, 2009. "Emerging market fluctuations : what makes the difference ?," Policy Research Working Paper Series 4897, The World Bank.
    13. Roberto Piazza, 2014. "Growth and Crisis, Unavoidable Connection?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(4), pages 677-706, October.
    14. Klaus Weyerstrass & Daniela Grozea-Helmenstein, 2013. "Euro Area Scenarios and their Economic Consequences for Slovenia and Serbia," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 11(4 (Winter), pages 323-351.

  44. Bora Durdu & Enrique G. Mendoza & Marco E. Terrones, 2007. "Precautionary demand for foreign assets in sudden stop economies: an assessment of the new mercantilism," International Finance Discussion Papers 911, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Diego Valderrama & Katherine Smith, 2009. "Why Do Emerging Economies Import Direct Investment and Export Savings? A Story of Financial Underdevelopment," 2009 Meeting Papers 1160, Society for Economic Dynamics.
    2. Fernando Arce & Julien Bengui & Javier Bianchi, 2019. "A Macroprudential Theory of Foreign Reserve Accumulation," Staff Working Papers 19-43, Bank of Canada.
    3. Landon, Stuart & Smith, Constance, 2017. "Does the design of a fiscal rule matter for welfare?," Economic Modelling, Elsevier, vol. 63(C), pages 226-237.
    4. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    5. Laura Alfaro & Fabio Kanczuk, 2007. "Optimal Reserve Management and Sovereign Debt," NBER Working Papers 13216, National Bureau of Economic Research, Inc.
    6. Marco E. Terrones & Enrique G. Mendoza & Ceyhun Bora Durdu, 2008. "Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Mercantilism," 2008 Meeting Papers 56, Society for Economic Dynamics.
    7. Osman F. Abbasoğlu & Ayşe İmrohoroğlu & Ayşe Kabukçuoğlu, 2019. "The Turkish Current Account Deficit," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 515-536, January.
    8. Carroll, Christopher D. & Jeanne, Olivier, 2009. "A tractable model of precautionary reserves, net foreign assets, or sovereign wealth funds," CFS Working Paper Series 2009/15, Center for Financial Studies (CFS).
    9. Gaowang Wang & Heng-fu Zou, 2011. "Foreign Asset Accumulation, Macroeconomic Policies and Mercantilism," CEMA Working Papers 461, China Economics and Management Academy, Central University of Finance and Economics.
    10. Illenin Kondo & Sewon Hur, 2011. "A Theory of Optimal Reserves Allocation and Sudden Stops in Emerging Economies," 2011 Meeting Papers 1105, Society for Economic Dynamics.
    11. Lane, Philip & Shambaugh, Jay, 2007. "Financial Exchange Rates and International Currency Exposures," CEPR Discussion Papers 6473, Centre for Economic Policy Research.
    12. Mansour Ishrakieh, Layal & Dagher, Leila & El Hariri, Sadika, 2018. "The Institute of Financial Economics Financial Stress Index (IFEFSI) for Lebanon," MPRA Paper 116054, University Library of Munich, Germany.
    13. Mr. Fabio Comelli, 2015. "Estimation and out-of-sample Prediction of Sudden Stops: Do Regions of Emerging Markets Behave Differently from Each Other?," IMF Working Papers 2015/138, International Monetary Fund.
    14. Franz Hamann & Jesús Bejarano & Diego Rodríguez, 2015. "Monetary policy implications for an oil-exporting economy of lower long-run international oil prices," Borradores de Economia 871, Banco de la Republica de Colombia.
    15. Ricardo Sabbadini, 2018. "International Reserves Management in a Model of Partial Sovereign Default," Working Papers, Department of Economics 2018_14, University of São Paulo (FEA-USP).
    16. Maurice Obstfeld & Jay C. Shambaugh & Alan M. Taylor, 2010. "Financial Stability, the Trilemma, and International Reserves," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 57-94, April.
    17. Stuart Landon & Constance Smith, 2015. "Rule-Based Resource Revenue Stabilization Funds: A Welfare Comparison," The Energy Journal, , vol. 36(2), pages 117-144, April.
    18. Pavel Trunin & Sergey Narkevich, 2013. "Prospects for the Russian Ruble to Become Regional Reserve Currency," Working Papers 118, Gaidar Institute for Economic Policy, revised 2015.
    19. Anne-Laure Delatte & Julien Fouquau, 2012. "What drove the massive hoarding of international reserves? A time-varying approach," Post-Print hal-00822294, HAL.
    20. Alexander Mihailov & Harun Nasir, 2020. "Sudden Stops, Productivity and the Optimal Level of International Reserves for Small Open Economies," Economics Discussion Papers em-dp2020-24, Department of Economics, University of Reading.
    21. Alberola, Enrique & Erce, Aitor & Serena, José Maria, 2016. "International reserves and gross capital flows dynamics," Journal of International Money and Finance, Elsevier, vol. 60(C), pages 151-171.
    22. Zhao, Yan, 2013. "Borrowing constraints and the trade balance–output comovement," Economic Modelling, Elsevier, vol. 32(C), pages 34-41.
    23. Broner, Fernando & Didier, Tatiana & Erce, Aitor & Schmukler, Sergio L., 2013. "Gross capital flows: Dynamics and crises," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 113-133.
    24. Seghezza, Elena & Morelli, Pierluigi & Pittaluga, Giovanni B., 2017. "Reserve accumulation and exchange rate policy in China: The authoritarian elite's aim of political survival," European Journal of Political Economy, Elsevier, vol. 47(C), pages 163-174.
    25. Yeonjeong Lee & Seong-Min Yoon, 2020. "Relationship between International Reserves and FX Rate Movements," Sustainability, MDPI, vol. 12(17), pages 1-24, August.
    26. Aizenman, Joshua & Pinto, Brian, 2011. "Managing Financial Integration and Capital Mobility— Policy lessons from the past two decades," Santa Cruz Department of Economics, Working Paper Series qt9j53m1tp, Department of Economics, UC Santa Cruz.
    27. Prades, Elvira & Rabitsch, Katrin, 2012. "Capital liberalization and the US external imbalance," Journal of International Economics, Elsevier, vol. 87(1), pages 36-49.
    28. Joseph Joyce & Raul Razo-Garcia, 2011. "Reserves, quotas and the demand for international liquidity," The Review of International Organizations, Springer, vol. 6(3), pages 393-413, September.
    29. J. Scott Davis & Michael B. Devereux & Changhua Yu, 2020. "Sudden Stops in Emerging Economies: The Role of World Interest Rates and Foreign Exchange Intervention," Globalization Institute Working Papers 405, Federal Reserve Bank of Dallas, revised 10 Sep 2021.
    30. Ana Maria Ceh & Ivo Krznar, 2008. "Optimal Foreign Reserves: The Case of Croatia," Financial Theory and Practice, Institute of Public Finance, vol. 32(4), pages 421-460.
    31. Jeanne, Olivier & Rancière, Romain, 2008. "The Optimal Level of International Reserves For Emerging Market Countries: A New Formula and Some Applications," CEPR Discussion Papers 6723, Centre for Economic Policy Research.
    32. Mendoza, Enrique & Boz, Emine, 2010. "Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis," CEPR Discussion Papers 7967, Centre for Economic Policy Research.
    33. José Rafael Pineda Albarrán, 2024. "Accumulation of International Reserves in Latin America: The Mexican Case," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 77(1), pages 63-90.
    34. Jeanne, Olivier & Sandri, Damiano, 2020. "Optimal reserves in financially closed economies," Journal of International Money and Finance, Elsevier, vol. 104(C).
    35. Zineddine Alla, 2017. "Optimal policies in international macroeconomics [Politiques optimales en macroéconomie internationale]," Sciences Po Economics Publications (main) tel-03436551, HAL.
    36. Durdu, C. Bora & Mendoza, Enrique G. & Terrones, Marco E., 2013. "On the solvency of nations: Cross-country evidence on the dynamics of external adjustment," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 762-780.
    37. Dongwon Lee, 2023. "International cooperation in foreign reserve policies in the presence of competitive hoarding," Review of International Economics, Wiley Blackwell, vol. 31(2), pages 389-412, May.
    38. Enrique G. Mendoza & Katherine A. Smith, 2014. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(1), pages 20-57, January.
    39. Andrea Papadia & Claudio Schioppa, 2020. "Foreign Debt, Capital Controls, and Secondary Markets: Theory and Evidence from Nazi Germany," Working Papers ECARES 2020-36, ULB -- Universite Libre de Bruxelles.
    40. Zhang, Han, 2021. "An inflation-based ICAPM in China," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    41. Mr. Sunil Sharma & Woon Gyu Choi & Maria Strömqvist, 2007. "Capital Flows, Financial Integration, and International Reserve Holdings: The Recent Experience of Emerging Markets and Advanced Economies," IMF Working Papers 2007/151, International Monetary Fund.
    42. Olivier Jeanne & Damiano Sandri & Eduardo Borensztein, 2010. "Macro-Hedging for Commodity Exporters," 2010 Meeting Papers 832, Society for Economic Dynamics.
    43. Hur, Sewon & Kondo, Illenin O., 2016. "A theory of rollover risk, sudden stops, and foreign reserves," Journal of International Economics, Elsevier, vol. 103(C), pages 44-63.
    44. Enrique G. Mendoza, 2008. "Sudden Stops, Financial Crises and Leverage: A Fisherian Deflation of Tobin's Q," NBER Working Papers 14444, National Bureau of Economic Research, Inc.
    45. Layal Mansour, 2014. "The Power of International Reserves: the impossible trinity becomes possible," Working Papers halshs-01054614, HAL.
    46. Enrique G. Mendoza, 2010. "Sudden Stops, Financial Crises, and Leverage," American Economic Review, American Economic Association, vol. 100(5), pages 1941-1966, December.
    47. Mansour Ishrakieh, Layal & Dagher, Leila & El Hariri, Sadika, 2019. "A Financial Stress Index for a Highly Dollarized Developing Country: The Case of Lebanon," MPRA Paper 116083, University Library of Munich, Germany.
    48. Enrique Alberola & Aitor Erce & José María Serena, 2012. "International reserves and gross capital flows. Dynamics during financial stress," Working Papers 1211, Banco de España.
    49. Sula, Ozan & Oguzoglu, Umut, 2021. "International reserves and economic growth," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 16-28.
    50. Eswar S. Prasad & Raghuram Rajan, 2008. "A Pragmatic Approach to Capital Account Liberalization," NBER Working Papers 14051, National Bureau of Economic Research, Inc.
    51. Fatum, Rasmus & Zhu, Guozhong & Hui, Wenjie, 2021. "Do oil endowment and productivity matter for accumulation of international reserves?," Journal of International Money and Finance, Elsevier, vol. 117(C).
    52. Ben Zeev, Nadav, 2017. "Capital controls as shock absorbers," Journal of International Economics, Elsevier, vol. 109(C), pages 43-67.
    53. Michael B Devereux & Alan Sutherland, 2009. "A Portfolio Model of Capital Flows to Emerging Markets," Working Papers 082009, Hong Kong Institute for Monetary Research.
    54. Biljana Jovanovikj & Danica Unevska Andonova, 2017. "The Optimal Level of Foreign Reserves in Macedonia," Working Papers 2017-05, National Bank of the Republic of North Macedonia.
    55. Jung, Kuk Mo & Pyun, Ju Hyun, 2015. "International Reserves for Emerging Economies: A Liquidity Approach," MPRA Paper 64235, University Library of Munich, Germany.
    56. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
    57. Charlotta Groth & Fabrizio Zampolli, 2010. "Macroeconomic stability and the real interest rate: a cross-country analysis," Discussion Papers 30, Monetary Policy Committee Unit, Bank of England.
    58. Leonardo Martinez & Cesar Sosa Padilla & Juan Hatchondo, 2012. "Debt dilution and sovereign default risk," 2012 Meeting Papers 974, Society for Economic Dynamics.
    59. Ricardo Sabbadini, 2018. "Overcoming the Original Sin: gains from local currency external debt," Working Papers Series 484, Central Bank of Brazil, Research Department.
    60. Luigi Bocola & Guido Lorenzoni, 2017. "Financial Crises, Dollarization, and Lending of Last Resort in Open Economies," NBER Working Papers 23984, National Bureau of Economic Research, Inc.
    61. Davis, J. Scott & Devereux, Michael B. & Yu, Changhua, 2023. "Sudden stops and optimal foreign exchange intervention," Journal of International Economics, Elsevier, vol. 141(C).
    62. Javier Bianchi & Juan Carlos Hatchondo & Leonardo Martinez, 2013. "International reserves and rollover risk," Working Paper 13-01, Federal Reserve Bank of Richmond.
    63. Andrew J Filardo & Pierre L Siklos, 2015. "Prolonged reserves accumulation, credit booms, asset prices and monetary policy in Asia," BIS Working Papers 500, Bank for International Settlements.
    64. Yi Wen, 2011. "Making sense of China’s excessive foreign reserves," Working Papers 2011-006, Federal Reserve Bank of St. Louis.
    65. Hutchison, Michael M. & Noy, Ilan & Wang, Lidan, 2010. "Fiscal and monetary policies and the cost of sudden stops," Journal of International Money and Finance, Elsevier, vol. 29(6), pages 973-987, October.
    66. Layal Mansour-Ichrakieh, 2021. "The Impact of Israeli and Saudi Arabian Geopolitical Risks on the Lebanese Financial Market," JRFM, MDPI, vol. 14(3), pages 1-24, February.
    67. Steiner, Andreas, 2013. "How central banks prepare for financial crises – An empirical analysis of the effects of crises and globalisation on international reserves," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 208-234.
    68. Krause, Michael & Hoffmann, Mathias & Tillmann, Peter, 2014. "International Capital Flows, External Assets, and Output Volatility," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100508, Verein für Socialpolitik / German Economic Association.
    69. Gianluca Benigno & Luca Fornaro & Martin Wolf, 2012. "Reserve accumulation, growth and financial crises," Economics Working Papers 1795, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2022.
    70. Julien Bengui & Enrique G. Mendoza & Vincenzo Quadrini, 2012. "Capital Mobility and International Sharing of Cyclical Risk," NBER Working Papers 18372, National Bureau of Economic Research, Inc.
    71. Luigi Bonatti & Andrea Fracasso, 2016. "Modelling The Transition Towards The Renminbi'S Full Convertibility: Implications For China'S Growth," Bulletin of Economic Research, Wiley Blackwell, vol. 68(S1), pages 146-170, December.
    72. Oliver de Groot & Bora Durdu & Enrique G. Mendoza, 2020. "Approximately Right?: Global v. Local Methods for Open-Economy Models with Incomplete Markets," Finance and Economics Discussion Series 2020-006, Board of Governors of the Federal Reserve System (U.S.).
    73. M. Ramachandran, 2023. "Official Intervention, Reserve Accumulation and Exchange Rate Volatility," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 21(2), pages 269-287, June.
    74. Gaowang Wang & Heng-fu Zou, 2012. "Economic Globalization, Mercantilism and Economic Growth," CEMA Working Papers 548, China Economics and Management Academy, Central University of Finance and Economics.
    75. Olivier Jeanne, 2007. "International Reserves in Emerging Market Countries: Too Much of a Good Thing?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 38(1), pages 1-80.
    76. Tianding Zhang, 2011. "Endogenous Discounting, Precautionary Savings and the Current Account: the Case of China," CERDI Working papers halshs-00556979, HAL.
    77. C. Bora Durdu, 2011. "Review of "Emerging Markets Resilience and Growth Amid Global Turmoil by M. Ayhan Kose and Eswar S. Prasad"," Koç University-TUSIAD Economic Research Forum Working Papers 1111, Koc University-TUSIAD Economic Research Forum.
    78. Fogli, Alessandra & Perri, Fabrizio, 2015. "Macroeconomic volatility and external imbalances," Journal of Monetary Economics, Elsevier, vol. 69(C), pages 1-15.
    79. Ben Zeev, Nadav, 2019. "Global credit supply shocks and exchange rate regimes," Journal of International Economics, Elsevier, vol. 116(C), pages 1-32.
    80. David Moreno, 2018. "Institutional Quality and Sovereign Flows," Working Papers Central Bank of Chile 816, Central Bank of Chile.
    81. Mr. Enrique G. Mendoza & Mr. Marco Terrones & Ceyhun Bora Durdu, 2010. "On the Solvency of Nations: Are Global Imbalances Consistent with Intertemporal Budget Constraints?," IMF Working Papers 2010/050, International Monetary Fund.
    82. Ms. Emine Boz & Ceyhun Bora Durdu & Ms. Nan Li, 2012. "Emerging Market Business Cycles: The Role of Labor Market Frictions," IMF Working Papers 2012/237, International Monetary Fund.
    83. Mansour Ishrakieh, Layal & Dagher, Leila & El Hariri, Sadika, 2020. "Not the usual suspects: Critical indicators in a dollarized country's Financial Stress Index," Finance Research Letters, Elsevier, vol. 32(C).
    84. Sabine Herrmann & Adalbert Winkler, 2009. "Real convergence, financial markets, and the current account - Emerging Europe versus emerging Asia," European Economy - Economic Papers 2008 - 2015 362, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    85. Woon Gyu Choi & Mr. David Cook, 2010. "Fire Sales and the Financial Accelerator," IMF Working Papers 2010/141, International Monetary Fund.
    86. Juan M. Hernandez & Enrique G. Mendoza, 2017. "Optimal v. simple financial policy rules in a production economy with “liability dollarization”," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 35(82), pages 25-39.
    87. Jong-Eun Lee, 2016. "Exchange Rate Dynamics with Foreign Reserves: Revisiting the Dornbusch Overshooting Model," Review of Development Economics, Wiley Blackwell, vol. 20(2), pages 406-414, May.
    88. Laura Alfaro & Sebnem Kalemli-Ozcan & Vadym Volosovych, 2011. "Sovereigns, Upstream Capital Flows, and Global Imbalances," NBER Working Papers 17396, National Bureau of Economic Research, Inc.
    89. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    90. D. Essers & E. Vincent, 2017. "The global financial safety net :In need of repair ?," Economic Review, National Bank of Belgium, issue ii, pages 87-112, september.
    91. Bernabe Lopez-Martin & Julio Leal & Andre Martinez Fritscher, 2017. "Commodity price risk management and fiscal policy in a sovereign default model," BIS Working Papers 620, Bank for International Settlements.
    92. Tianding ZHANG, 2007. "Endogenous Discounting, Precautionary Savings and the Current Account: the Case of China," Working Papers 200731, CERDI.
    93. Yannick Kalantzis & Kenza Benhima & Philippe Bacchetta, 2012. "Capital Controls with International Reserve Accumulation: Can this Be Optimal?," 2012 Meeting Papers 448, Society for Economic Dynamics.
    94. Marshall Reinsdorf & Robert Yuskavage, 2014. "Offshoring, Sourcing Substitution Bias and the Measurement of US Import Prices, Real GDP and Productivity," BEA Working Papers 0109, Bureau of Economic Analysis.
    95. Dokko, Jane K. & Keys, Benjamin J. & Relihan, Lindsay, 2019. "Affordability, financial innovation and the start of the housing boom," LSE Research Online Documents on Economics 101017, London School of Economics and Political Science, LSE Library.
    96. Mr. Il Houng Lee & Woon Gyu Choi, 2010. "Monetary Transmission of Global Imbalances in Asian Countries," IMF Working Papers 2010/214, International Monetary Fund.
    97. Mr. Atish R. Ghosh & Mr. Jonathan David Ostry & Mr. Charalambos G Tsangarides, 2012. "Shifting Motives: Explaining the Buildup in official Reserves in Emerging Markets Since the 1980's," IMF Working Papers 2012/034, International Monetary Fund.
    98. Yanping Zhao & Jakob Haan & Bert Scholtens & Haizhen Yang, 2014. "Sudden Stops and Currency Crashes," Review of International Economics, Wiley Blackwell, vol. 22(4), pages 660-685, September.
    99. Gabriela Cugat, 2019. "Emerging markets, household heterogeneity, and exchange rate policy," 2019 Meeting Papers 526, Society for Economic Dynamics.
    100. Zhiwei XU & Yi Wen & pengfei Wang, 2013. "Two-Way Capital Flows and Global Imbalances: A Neoclassical Approach," 2013 Meeting Papers 406, Society for Economic Dynamics.
    101. Rojas, Eugenio & Saffie, Felipe, 2022. "Non-homothetic sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
    102. Bora Durdu & Serdar Sayan, 2008. "Emerging market business cycles with remittance fluctuations," International Finance Discussion Papers 946, Board of Governors of the Federal Reserve System (U.S.).
    103. Rick Van der Ploeg & Ton S. van den Bremer, 2012. "Managing and Harnessing Volatile Oil Windfalls," OxCarre Working Papers 085, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    104. Pasricha, Gurnain K., 2022. "Estimated policy rules for capital controls," Journal of International Money and Finance, Elsevier, vol. 122(C).
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    106. Wang, Gaowang & Zou, Heng-fu, 2011. "The Effects of Macroeconomic Policies in a Mercantilist Economy," MPRA Paper 73305, University Library of Munich, Germany, revised 25 Aug 2016.
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    108. Olivier Jeanne, 2012. "Capital Account Policies and the Real Exchange Rate," NBER Working Papers 18404, National Bureau of Economic Research, Inc.
    109. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    110. Tianding Zhang, 2011. "Endogenous Discounting, Precautionary Savings and the Current Account: the Case of China," Working Papers halshs-00556979, HAL.
    111. Petar Vujanovic, 2011. "Understanding the Recent Surge in the Accumulation of International Reserves," OECD Economics Department Working Papers 866, OECD Publishing.
    112. Jacek Rothert & Andy Glover & Ayse Kabukcuoglu Dur, 2023. "Winners and losers from reducing global imbalances," GRAPE Working Papers 80, GRAPE Group for Research in Applied Economics.
    113. Michael Siemer & Adrien Verdelhan & Francois Gourio, 2015. "Uncertainty and International Capital Flows," 2015 Meeting Papers 880, Society for Economic Dynamics.
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    118. Ramkishen Rajan, 2011. "Management of Exchange Rate Regimes in Emerging Asia," ADBI Working Papers 322, Asian Development Bank Institute.
    119. Enrique G. Mendoza & Vincenzo Quadrini & José-Víctor Ríos-Rull, 2009. "Financial Integration, Financial Development, and Global Imbalances," Journal of Political Economy, University of Chicago Press, vol. 117(3), pages 371-416, June.
    120. Hidehiko Matsumoto, 2019. "Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth," IMES Discussion Paper Series 19-E-04, Institute for Monetary and Economic Studies, Bank of Japan.
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    123. Corsetti, G. & Maeng, S. H., 2023. "The Theory of Reserve Accumulation, Revisited," Cambridge Working Papers in Economics 2370, Faculty of Economics, University of Cambridge.
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    125. Ly Dai Hung, 2020. "International Public Capital Flows," Working Papers hal-03090656, HAL.
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    128. John Berdell & Thomas S. Mondschean & Rowena A. Pecchenino, 2019. "Where Has All the Demand Gone? Challenges to Growth in a “Neo-Mercantilist” Age," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 69(3), pages 35-54, July-Sept.
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    Cited by:

    1. Byrne, Joseph P. & Fiess, Norbert & MacDonald, Ronald, 2011. "The global dimension to fiscal sustainability," Journal of Macroeconomics, Elsevier, vol. 33(2), pages 137-150, June.
    2. Pienkowski Alex, 2017. "Debt Limits and the Structure of Public Debt," Journal of Globalization and Development, De Gruyter, vol. 8(2), pages 1-16, December.
    3. Gerdie Everaert, 2017. "On the estimation of panel fiscal reaction functions : Heterogeneity or fiscal fatigue?," Working Paper Research 320, National Bank of Belgium.
    4. Dennis Bonam & Jasper Lukkezen, 2019. "Fiscal and Monetary Policy Coordination, Macroeconomic Stability, and Sovereign Risk Premia," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 581-616, March.
    5. Boris I. Alekhin, 2019. "Russia’s Fiscal Sustainability. What Bohn’s Test Has Revealed," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 21-36, October.
    6. Raghbendra Jha, 2007. "Fiscal Policy in Developing Countries: A Synoptic View," ASARC Working Papers 2007-01, The Australian National University, Australia South Asia Research Centre.
    7. Pierre Aldama & Jérôme Creel, 2017. "Fiscal policy in the US : Ricardian after all ?," Sciences Po Economics Publications (main) hal-03458503, HAL.
    8. Bursian, Dirk & Weichenrieder, Alfons J. & Zimmer, Jochen, 2013. "Trust in government and fiscal adjustments," SAFE Working Paper Series 22, Leibniz Institute for Financial Research SAFE.
    9. Casalin, Fabrizio & Dia, Enzo & Hughes Hallett, Andrew, 2020. "Public debt dynamics with tax revenue constraints," Economic Modelling, Elsevier, vol. 90(C), pages 501-515.
    10. Gerdie Everaert & Stijn Jansen, 2017. "On The Estimation Of Panel Fiscal Functions: Heterogeneity Or Fiscal Fatigue?," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/930, Ghent University, Faculty of Economics and Business Administration.
    11. Menuet, Maxime & Minea, Alexandru & Villieu, Patrick, 2024. "The perils of fiscal feedback rules," Journal of Economic Theory, Elsevier, vol. 220(C).
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    1. Cuadra, Gabriel & Sapriza, Horacio, 2008. "Sovereign default, interest rates and political uncertainty in emerging markets," Journal of International Economics, Elsevier, vol. 76(1), pages 78-88, September.

  47. Enrique G. Mendoza & Vincenzo Quadrini & José-Victor Ríos-Rull, 2007. "On the Welfare Implications of Financial Globalization without Financial Development," NBER Working Papers 13412, National Bureau of Economic Research, Inc.

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    1. Angeletos, George-Marios & Panousi, Vasia, 2011. "Financial integration, entrepreneurial risk and global dynamics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 863-896, May.
    2. Frédéric Boissay & Fabrice Collard & Frank Smets, 2016. "Booms and Banking Crises," Journal of Political Economy, University of Chicago Press, vol. 124(2), pages 489-538.
    3. Takuma Kunieda & Masashi Takahashi, 2019. "Inequality and Institutional Quality in a Growth Model," Discussion Paper Series 198, School of Economics, Kwansei Gakuin University.
    4. David Kohn & Fernando Leibovici & Michal Szkup, 2020. "No Credit, No Gain: Trade Liberalization Dynamics, Production Inputs, and Financial Development," Documentos de Trabajo 553, Instituto de Economia. Pontificia Universidad Católica de Chile..
    5. Fernando Leibovici, 2018. "Financial Development and International Trade," Working Papers 2018-015, Federal Reserve Bank of St. Louis, revised Feb 2021.
    6. Lin, S. & Han, H., 2018. "Government size, institutional quality, and capital flows across regions in China: a specific exploration on the failure of capital flows across Shanhai Pass," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277515, International Association of Agricultural Economists.
    7. Tambalotti, Andrea & Primiceri, Giorgio & Justiniano, Alejandro, 2013. "The Effects of the Saving and Banking Glut on the U.S. Economy," CEPR Discussion Papers 9729, Centre for Economic Policy Research.
    8. Ayşe Kabukçuoğlu & Enrique Martínez-García, 2021. "A Generalized Time Iteration Method for Solving Dynamic Optimization Problems with Occasionally Binding Constraints," Computational Economics, Springer;Society for Computational Economics, vol. 58(2), pages 435-460, August.
    9. Ayse Kabukcuoglu, 2014. "The Redistributional Consequences of Tax Reform Under Financial Integration," Koç University-TUSIAD Economic Research Forum Working Papers 1418, Koc University-TUSIAD Economic Research Forum.
    10. Flavia Corneli, 2009. "The Saving Glut Explanation of Global Imbalances: the Role of Underinvestment," Economics Working Papers ECO2009/41, European University Institute.
    11. Ang, James B., 2011. "Finance and consumption volatility: Evidence from India," Journal of International Money and Finance, Elsevier, vol. 30(6), pages 947-964, October.
    12. Sunel, Enes, 2010. "On inflation, wealth inequality and welfare in emerging economies," MPRA Paper 25943, University Library of Munich, Germany.
    13. Haiping Zhang, 2017. "Wealth inequality and financial development: revisiting the symmetry breaking mechanism," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 63(4), pages 997-1025, April.
    14. Bacchetta, Philippe & Benhima, Kenza, 2012. "The Demand for Liquid Assets, Corporate Saving, and Global Imbalances," CEPR Discussion Papers 9268, Centre for Economic Policy Research.
    15. Reto Foellmi & Manuel Oechslin, 2010. "Market Imperfections, Wealth Inequality, and the Distribution of Trade Gains," Diskussionsschriften dp1006, Universitaet Bern, Departement Volkswirtschaft.
    16. Dur, Ayşe & Glover, Andrew & Rothert, Jacek, 2025. "Uninsurable income risk and the welfare effects of reducing global imbalances," European Economic Review, Elsevier, vol. 179(C).
    17. Andre Harrison & Robert R. Reed, 2024. "Capital flows to developing countries: Implications for monetary policy across the globe," Review of International Economics, Wiley Blackwell, vol. 32(3), pages 839-906, August.
    18. Kose, M. Ayhan & Prasad, Eswar & Taylor, Ashley D., 2009. "Thresholds in the Process of International Financial Integration," IZA Discussion Papers 4133, IZA Network @ LISER.
    19. Filippo Taddei & Alberto Martin, 2015. "International Capital Flows and Credit Market Imperfections: a Tale of Two Frictions," Working Papers 518, Barcelona School of Economics.
    20. Benhima, Kenza, 2013. "Financial integration, capital misallocation and global imbalances," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 324-340.
    21. Saygili Meryem, 2013. "Financial Liberalization, Limited Contract Enforcement and Productivity," Journal of Globalization and Development, De Gruyter, vol. 4(1), pages 95-130, August.
    22. Atesagaoglu, Orhan Erem & Elgin, Ceyhun, 2015. "Cyclicality of labor wedge and informal sector," Economics Letters, Elsevier, vol. 136(C), pages 141-146.
    23. Kunieda, Takuma, 2008. "Financial Globalization and Inequality," MPRA Paper 11343, University Library of Munich, Germany.
    24. Raouf Boucekkine & Giorgio Fabbri & Patrick A. Pintus, 2018. "Short-run pain, long-run gain: the conditional welfare gains from international financial integration," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(2), pages 329-360, March.
    25. Nicolas Coeurdacier & Hélène Rey & Pablo Winant, 2015. "Financial Integration and Growth in a Risky World," NBER Working Papers 21817, National Bureau of Economic Research, Inc.
    26. Kabukçuoğlu, Ayşe, 2017. "The winners and losers of tax reform: An assessment under financial integration," Journal of Economic Dynamics and Control, Elsevier, vol. 85(C), pages 90-122.
    27. Ester Faia & Eleni Iliopulos, 2010. "Financial Globalization, Financial Frictions and Optimal Monetary Policy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00497486, HAL.
    28. Enrique G. Mendoza & Vincenzo Quadrini, 2009. "Financial Globalization, Financial Crises and Contagion," NBER Working Papers 15432, National Bureau of Economic Research, Inc.
    29. Panousi, Vasia, 2009. "Financial Integration and Capital Accumulation," MPRA Paper 24238, University Library of Munich, Germany.
    30. Kunieda, Takuma & Okada, Keisuke & Shibata, Akihisa, 2011. "Finance and Inequality: How Does Globalization Change Their Relationship?," MPRA Paper 35358, University Library of Munich, Germany.
    31. Van Campenhout, Bjorn & Cassimon, Danny, 2012. "Multiple equilibria in the dynamics of financial globalization: The role of institutions," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(2), pages 329-342.
    32. Jae wook Jung & Kyunghun Kim, 2018. "Financial Market Integration and Income Inequality," Working Papers id:12916, eSocialSciences.
    33. Javier Bianchi, 2010. "Overborrowing and Systemic Externalities in the Business Cycle," 2010 Meeting Papers 96, Society for Economic Dynamics.
    34. Maya Eden, 2016. "Excessive Financing Costs in a Representative Agent Framework," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(2), pages 215-237, April.
    35. Harrison, Andre & Reed, Robert R., 2023. "International capital flows, liquidity risk, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 77(C).
    36. Flavia Corneli, 2017. "Medium and long term implications of financial integration without financial development," Temi di discussione (Economic working papers) 1120, Bank of Italy, Economic Research and International Relations Area.
    37. Alter, Adrian & Mahoney, Elizabeth M., 2021. "Local house-price vulnerability: Evidence from the U.S. and Canada," Journal of Housing Economics, Elsevier, vol. 54(C).
    38. George-Marios Angeletos & Vasia Panousi, 2011. "Financial Integration, Entrepreneurial Risk and Global Imbalances," NBER Working Papers 16761, National Bureau of Economic Research, Inc.
    39. Kikuchi, Tomoo & Vachadze, George, 2015. "Financial liberalization: Poverty trap or chaos," Journal of Mathematical Economics, Elsevier, vol. 59(C), pages 1-9.
    40. Flavia Corneli, 2021. "Financial Integration Without Financial Development," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 49(2), pages 201-220, June.
    41. Filippo Taddei, 2013. "International Capital Flows, Financial Frictions and Welfare," 2013 Meeting Papers 1160, Society for Economic Dynamics.
    42. Sunel, Enes, 2012. "Transitional Dynamics of Disinflation in a Small Open Economy with Heterogeneous Agents," MPRA Paper 39690, University Library of Munich, Germany.

  48. C. Bora Durdu & Enrique G. Mendoza & Marco Terrones, 2007. "Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Mercantilism: Working Paper 2007-10," Working Papers 18952, Congressional Budget Office.

    Cited by:

    1. Diego Valderrama & Katherine Smith, 2009. "Why Do Emerging Economies Import Direct Investment and Export Savings? A Story of Financial Underdevelopment," 2009 Meeting Papers 1160, Society for Economic Dynamics.
    2. Laura Alfaro & Fabio Kanczuk, 2007. "Optimal Reserve Management and Sovereign Debt," NBER Working Papers 13216, National Bureau of Economic Research, Inc.
    3. Marco E. Terrones & Enrique G. Mendoza & Ceyhun Bora Durdu, 2008. "Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Mercantilism," 2008 Meeting Papers 56, Society for Economic Dynamics.
    4. José Rafael Pineda Albarrán, 2024. "Accumulation of International Reserves in Latin America: The Mexican Case," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 77(1), pages 63-90.
    5. Mr. Sunil Sharma & Woon Gyu Choi & Maria Strömqvist, 2007. "Capital Flows, Financial Integration, and International Reserve Holdings: The Recent Experience of Emerging Markets and Advanced Economies," IMF Working Papers 2007/151, International Monetary Fund.
    6. Michael B Devereux & Alan Sutherland, 2009. "A Portfolio Model of Capital Flows to Emerging Markets," Working Papers 082009, Hong Kong Institute for Monetary Research.
    7. Jung, Kuk Mo & Pyun, Ju Hyun, 2015. "International Reserves for Emerging Economies: A Liquidity Approach," MPRA Paper 64235, University Library of Munich, Germany.
    8. Krause, Michael & Hoffmann, Mathias & Tillmann, Peter, 2014. "International Capital Flows, External Assets, and Output Volatility," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100508, Verein für Socialpolitik / German Economic Association.
    9. Olivier Jeanne, 2007. "International Reserves in Emerging Market Countries: Too Much of a Good Thing?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 38(1), pages 1-80.
    10. Tianding Zhang, 2011. "Endogenous Discounting, Precautionary Savings and the Current Account: the Case of China," CERDI Working papers halshs-00556979, HAL.
    11. Sabine Herrmann & Adalbert Winkler, 2009. "Real convergence, financial markets, and the current account - Emerging Europe versus emerging Asia," European Economy - Economic Papers 2008 - 2015 362, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    12. Alessandra Fogli & Fabrizio Perri, 2015. "Macroeconomic Volatility and External Imbalances," Staff Report 512, Federal Reserve Bank of Minneapolis.
    13. Tianding Zhang, 2011. "Endogenous Discounting, Precautionary Savings and the Current Account: the Case of China," Working Papers halshs-00556979, HAL.
    14. Patrick Carvalho & Renee A. Fry-McKibbin, 2014. "Foreign Reserve Accumulation and the Mercantilist Motive Hypothesis," CAMA Working Papers 2014-18, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    15. Marta Ruiz-Arranz & Milan Zavadjil, 2008. "Are Emerging Asia’s Reserves Really Too High?," IMF Working Papers 2008/192, International Monetary Fund.
    16. Herrmann, Sabine & Winkler, Adalbert, 2008. "Financial markets and the current account: emerging Europe versus emerging Asia," Discussion Paper Series 1: Economic Studies 2008,05, Deutsche Bundesbank.
    17. Eswar S. Prasad & Raghuram G. Rajan, 2008. "A Pragmatic Approach to Capital Account Liberalization," Journal of Economic Perspectives, American Economic Association, vol. 22(3), pages 149-172, Summer.
    18. César TAMAYO y Andrés VARGAS, 2007. "Revisando la evidencia sobre frenazos súbitos y crisis financieras," Archivos de Economía 3948, Departamento Nacional de Planeación.
    19. International Monetary Fund, 2010. "Former Yugoslav Republic of Macedonia: Selected Issues for the 2009 Article IV Consultation," IMF Staff Country Reports 2010/020, International Monetary Fund.
    20. Sergey Narkevich & Pavel Trunin, 2012. "Reserve Currencies: Factors of Evolution and their Role in the World Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 162P.
    21. International Monetary Fund, 2007. "Vulnerabilities in Emerging Southeastern Europe—How Much Cause for Concern?," IMF Working Papers 2007/236, International Monetary Fund.

  49. Mendoza, Enrique & Quadrini, Vincenzo, 2007. "Financial Integration, Financial Deepness and Global Imbalances," CEPR Discussion Papers 6149, Centre for Economic Policy Research.

    Cited by:

    1. Ellen R. McGrattan & Edward C. Prescott, 2007. "Technology capital and the U.S. current account," Working Papers 646, Federal Reserve Bank of Minneapolis.
    2. Diego Valderrama, 2008. "Are global imbalances due to financial underdevelopment in emerging economies?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue apr11.
    3. Sørensen, Bent E & Kalemli-Özcan, Sebnem & Volosovych, Vadym, 2010. "Deep Financial Integration and Volatility," CEPR Discussion Papers 7784, Centre for Economic Policy Research.
    4. Du, Qingyuan & Wei, Shang-Jin, 2013. "A theory of the competitive saving motive," Journal of International Economics, Elsevier, vol. 91(2), pages 275-289.
    5. Carroll, Christopher D. & Jeanne, Olivier, 2009. "A tractable model of precautionary reserves, net foreign assets, or sovereign wealth funds," CFS Working Paper Series 2009/15, Center for Financial Studies (CFS).
    6. Andrea Ferrero & Mark Gertler & Lars E. O. Svensson, 2008. "Current Account Dynamics and Monetary Policy," Working Paper Series 2008-26, Federal Reserve Bank of San Francisco.
    7. Pierre-Olivier & Olivier Jeanne, 2009. "Capital Flows to Developing Countries: The Allocation Puzzle," Working Paper Series WP09-12, Peterson Institute for International Economics.
    8. Mark Aguiar & Manuel Amador, 2009. "Growth in the Shadow of Expropriation," NBER Working Papers 15194, National Bureau of Economic Research, Inc.
    9. Ben S. Bernanke & Carol C. Bertaut & Steven B. Kamin & Laurie Pounder DeMarco, 2011. "International capital flows and the returns to safe assets in the United States, 2003-2007," International Finance Discussion Papers 1014, Board of Governors of the Federal Reserve System (U.S.).
    10. Lane, Philip & Shambaugh, Jay, 2007. "Financial Exchange Rates and International Currency Exposures," CEPR Discussion Papers 6473, Centre for Economic Policy Research.
    11. Fratzscher, Marcel & Straub, Roland, 2010. "Asset Prices, News Shocks and the Current Account," CEPR Discussion Papers 8080, Centre for Economic Policy Research.
    12. Durdu, Ceyhun Bora & Mendoza, Enrique G. & Terrones, Marco E., 2009. "Precautionary demand for foreign assets in Sudden Stop economies: An assessment of the New Mercantilism," Journal of Development Economics, Elsevier, vol. 89(2), pages 194-209, July.
    13. Benjamin Bridgman, 2009. "Do Intangible Assets Explain High U.S. Foreign Direct Investment Returns?," 2009 Meeting Papers 373, Society for Economic Dynamics.
    14. Iryna Kaminska & Dimitri Vayanos & Gabriele Zinna, 2011. "Preferred-habitat investors and the US term structure of real rates," Bank of England Staff Working Paper series 435, Bank of England.
    15. Rigobon, Roberto & Pavlova, Anna, 2011. "International Macro-Finance," CEPR Discussion Papers 8218, Centre for Economic Policy Research.
    16. Raoul Minetti & Matteo Iacoviello, 2010. "Foreign Lenders in Emerging Economies," 2010 Meeting Papers 1050, Society for Economic Dynamics.
    17. Yin-wong Cheung & Clement Yuk-pang Wong, 2008. "Are All Measures of International Reserves Created Equal? An Empirical Comparison of International Reserve Ratios," Working Papers 132008, Hong Kong Institute for Monetary Research.
    18. Yongsung Chang & Sun-Bin Kim & Jaewoo Lee, 2009. "Accounting for Global Dispersion of Current Accounts," RCER Working Papers 548, University of Rochester - Center for Economic Research (RCER).
    19. Pavlova, Anna & Rigobon, Roberto, 2010. "An asset-pricing view of external adjustment," Journal of International Economics, Elsevier, vol. 80(1), pages 144-156, January.
    20. Jean Pisani-Ferry & Jérémie Cohen-Setton, 2008. "Asia-Europe- The Third Link," Bruegel Working Papers 44, Bruegel.
    21. Gossé, Jean-Baptiste & Serranito, Francisco, 2014. "Long-run determinants of current accounts in OECD countries: Lessons for intra-European imbalances," Economic Modelling, Elsevier, vol. 38(C), pages 451-462.
    22. Claudio BORIO & Piti DISYATAT, 2010. "Global Imbalances and the Financial Crisis: Reassessing the Role of International Finance," Asian Economic Policy Review, Japan Center for Economic Research, vol. 5(2), pages 198-216, December.
    23. Wei, Shang-Jin & Ju, Jiandong, 2007. "Domestic Institutions and the Bypass Effect of Financial Globalization," CEPR Discussion Papers 6343, Centre for Economic Policy Research.
    24. Qingyuan Du & Shang-Jin Wei, 2011. "A Darwinian Perspective on "Exchange Rate Undervaluation"," NBER Working Papers 16788, National Bureau of Economic Research, Inc.
    25. Emara, Noha, 2025. "Threshold effects of financial depth on domestic savings: Evidence from the EMEA region," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 1987-2000.
    26. Sandoval Paucar, Giovanny, 2018. "Efectos de desbordamiento sobre los mercados financieros de Colombia. Identificación a través de la heterocedasticidad [Spillovers effects on financial markets of Colombia. Identification through heteroskedasticity]," MPRA Paper 90422, University Library of Munich, Germany.
    27. Zemanek, Holger & Belke, Ansgar & Schnabl, Gunther, 2010. "Current Account Balances and Structural Adjustment in the Euro Area," Ruhr Economic Papers 176, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    28. Mervyn King, 2011. "Global imbalances: the perspective of the Bank of England," Bank of England Quarterly Bulletin, Bank of England, vol. 51(1), pages 43-48.
    29. Giancarlo Corsetti & Philippe Martin & Paolo Pesenti, 2008. "Varieties and the Transfer Problem: The Extensive Margin of Current Account Adjustment," NBER Working Papers 13795, National Bureau of Economic Research, Inc.
    30. Mehmed Ganić & Mahir Hrnjić, 2021. "How Does International Financial Integration Really Affect Post-Transition Countries' Growth? Empirical evidence from the CEE-10 countries," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(3), pages 117-136.
    31. Didier, Tatiana & Lowenkron, Alexandre, 2009. "The current account as a dynamic portfolio choice problem," Policy Research Working Paper Series 4861, The World Bank.
    32. Vermeulen, Robert & de Haan, Jakob, 2014. "Net foreign asset (com)position: Does financial development matter?," Journal of International Money and Finance, Elsevier, vol. 43(C), pages 88-106.
    33. Fabio Ghironi & Viktors Stebunovs, 2010. "The Domestic and International Effects of Interstate U.S. Banking," NBER Working Papers 16613, National Bureau of Economic Research, Inc.
    34. Gordon L. Clark, 2015. "The geography of the European Central Bank: form, functions and legitimacy," Journal of Economic Geography, Oxford University Press, vol. 15(5), pages 855-881.
    35. Alessandra Fogli & Fabrizio Perri, 2006. "The "Great Moderation" and the US External Imbalance," NBER Working Papers 12708, National Bureau of Economic Research, Inc.
    36. Schroth, Josef, 2023. "Capital flows and growth across developing countries," Journal of International Money and Finance, Elsevier, vol. 137(C).
    37. Cozzi, Guido & Davenport, Margaret, 2017. "Extrapolative Expectations and Capital Flows during Convergence," MPRA Paper 78016, University Library of Munich, Germany.
    38. Stephanie E. Curcuru & Tomas Dvorak & Francis E. Warnock, 2007. "Cross-border returns differentials," Globalization Institute Working Papers 04, Federal Reserve Bank of Dallas.
    39. Marques, Luis B, 2007. "Welfare Implications of Exchange Rate Changes," MPRA Paper 5721, University Library of Munich, Germany.
    40. Bertaut, Carol & DeMarco, Laurie Pounder & Kamin, Steven & Tryon, Ralph, 2012. "ABS inflows to the United States and the global financial crisis," Journal of International Economics, Elsevier, vol. 88(2), pages 219-234.
    41. Suparna Chakraborty & Robert Dekle, 2009. "Can International Productivity Differences Alone Account for the US Current Account Deficits?," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 689-715, September.
    42. Bénassy-Quéré, Agnès & Carton, Benjamin & Gauvin, Ludovic, 2013. "China and global rebalancing: A two-country approach," China Economic Review, Elsevier, vol. 26(C), pages 118-139.
    43. Claudio Borio & Piti Disyatat, 2011. "Global imbalances and the financial crisis: Link or no link?," BIS Working Papers 346, Bank for International Settlements.
    44. Elias Papaioannou & Richard Portes, 2008. "The international role of the euro: a status report," European Economy - Economic Papers 2008 - 2015 317, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    45. Ester Faia & Eleni Iliopulos, 2010. "Financial Globalization, Financial Frictions and Optimal Monetary Policy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00497486, HAL.
    46. Khan, Hameed & Khan, Umair, 2019. "Financial development and FDI inflows in China," Economics Discussion Papers 2019-54, Kiel Institute for the World Economy.
    47. Francisco J. Buera & Yongseok Shin, 2009. "Productivity Growth and Capital Flows: The Dynamics of Reforms," NBER Working Papers 15268, National Bureau of Economic Research, Inc.
    48. Guonan Ma & Haiwen Zhou, 2009. "China's Large and Rising Net Foreign Asset Position," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(5), pages 1-21, September.
    49. Enrique G. Mendoza & Vincenzo Quadrini, 2009. "Financial Globalization, Financial Crises and Contagion," NBER Working Papers 15432, National Bureau of Economic Research, Inc.
    50. Cozzi, Guido & Davenport, Margaret, 2015. "The Imbalanced Catch-up to Rational Expectations: Capital Flows during Convergence," MPRA Paper 71009, University Library of Munich, Germany, revised 28 Apr 2016.
    51. Stephanie E. Curcuru & Tomas Dvorak & Francis E. Warnock, 2007. "The Stability of Large External Imbalances: The Role of Returns Differentials," NBER Working Papers 13074, National Bureau of Economic Research, Inc.
    52. Tarek Alexander Hassan, 2010. "Country Size, Currency Areas, and International Asset Returns," 2010 Meeting Papers 365, Society for Economic Dynamics.
    53. Sabine Herrmann & Adalbert Winkler, 2009. "Financial markets and the current account: emerging Europe versus emerging Asia," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 145(3), pages 531-550, October.
    54. John Lipsky, 2009. "Asia, the financial crisis, and global economic governance - closing remarks," Proceedings, Federal Reserve Bank of San Francisco, issue Oct, pages 347-353.
    55. Panousi, Vasia, 2009. "Financial Integration and Capital Accumulation," MPRA Paper 24238, University Library of Munich, Germany.
    56. Caballero, Ricardo J. & Antras, Pol, 2007. "Trade and Capital Flows: A Financial Frictions Perspective," Scholarly Articles 3264875, Harvard University Department of Economics.
    57. Krittika Banerjee & Ashima Goyal, 2021. "Current account imbalances: Exploring role of domestic and external factors for large emerging markets," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2021-001, Indira Gandhi Institute of Development Research, Mumbai, India.
    58. Huntington, Hillard G., 2015. "Crude oil trade and current account deficits," Energy Economics, Elsevier, vol. 50(C), pages 70-79.
    59. Caballero, Ricardo J. & Farhi, Emmanuel & Gourinchas, Pierre-Olivier, 2008. "An Equilibrium Model of "Global Imbalances" and Low Interest Rates," Scholarly Articles 3229094, Harvard University Department of Economics.
    60. Tarek A. Hassan, 2009. "Country Size, Currency Unions, and International Asset Returns," Working Papers 154, Oesterreichische Nationalbank (Austrian Central Bank).
    61. Massimiliano Pisani & Pietro Cova & Mr. Alessandro Rebucci, 2009. "Global Imbalances: The Role of Emerging Asia," IMF Working Papers 2009/064, International Monetary Fund.
    62. Timothy J. Kehoe & Kim J. Ruhl & Joe Steinberg, 2013. "What will happen when foreigners stop lending to the United States?," Economic Policy Paper 13-4, Federal Reserve Bank of Minneapolis.
    63. Agnès Bénassy-Quéré & Benoît Coeuré & Pierre Jacquet & Jean Pisani-Ferry, 2009. "The Crisis: Policy Lessons and Policy Challenges," Working Papers 2009-28, CEPII research center.
    64. Clemens C. Struck, 2017. "Labor Market Frictions, Investment and Capital Flows," Working Papers 201729, School of Economics, University College Dublin.
    65. Carlos A. Carrasco & Felipe Serrano, 2014. "Global and European Imbalances:A critical review," Working papers wpaper42, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    66. Krittika Banerjee & Ashima Goyal, 2024. "New perspectives on the rise and fall of global imbalances: evidence from large emerging market economies," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 160(2), pages 541-583, May.
    67. William Speller & Gregory Thwaites & Michelle Wright, 2011. "Financial Stability Paper No 12: The Future of International Capital Flows," Bank of England Financial Stability Papers 12, Bank of England.
    68. Andrea Ferrero, 2007. "The long-run determinants of U.S. external imbalances," Staff Reports 295, Federal Reserve Bank of New York.
    69. Mr. Guy M Meredith, 2007. "Debt Dynamics and Global Imbalances: Some Conventional Views Reconsidered," IMF Working Papers 2007/004, International Monetary Fund.
    70. Joseph W. Gruber & Steven B. Kamin, 2008. "Do differences in financial development explain the global pattern of current account imbalances?," International Finance Discussion Papers 923, Board of Governors of the Federal Reserve System (U.S.).
    71. Kjetil Storesletten & Fabrizio Zilibotti & Zheng Song, 2009. "Growing like China," 2009 Meeting Papers 912, Society for Economic Dynamics.
    72. Maurice Obstfeld & Kenneth S. Rogoff, 2009. "Global imbalances and the financial crisis: products of common causes," Proceedings, Federal Reserve Bank of San Francisco, issue Oct, pages 131-172.
    73. Devereux, Michael B. & Sutherland, Alan, 2009. "A portfolio model of capital flows to emerging markets," Journal of Development Economics, Elsevier, vol. 89(2), pages 181-193, July.
    74. Giancarlo Corsetti, 2009. "Comment on "On the Welfare Implications of Financial Globalization without Financial Development"," NBER Chapters, in: NBER International Seminar on Macroeconomics 2007, pages 313-318, National Bureau of Economic Research, Inc.
    75. Luiz de Mello & Pier Carlo Padoan & Linda Rousová, 2012. "Are Global Imbalances Sustainable? Shedding Further Light on the Causes of Current Account Reversals," Review of International Economics, Wiley Blackwell, vol. 20(3), pages 489-516, August.
    76. Frankel, Jeffrey A., 2009. "On Global Currencies," Scholarly Articles 4448879, Harvard Kennedy School of Government.
    77. Stephen Burgess & Oliver Burrows & Antoine Godin & Stephen Kinsella & Stephen Millard, 2016. "A dynamic model of financial balances for the United Kingdom," Bank of England Staff Working Paper series 614, Bank of England.
    78. Vines, David & Kuralbayeva, Karlygash, 2009. "The process by which the Dollar will fall: the effect of forward-looking consumers," CEPR Discussion Papers 7325, Centre for Economic Policy Research.
    79. Kosuke Aoki & Gianluca Benigno & Nobuhiro Kiyotaki, 2009. "Capital Flows and Asset Prices," CEP Discussion Papers dp0921, Centre for Economic Performance, LSE.
    80. Devereux, Michael B., 2009. "A simple model of emerging market portfolio structure," International Review of Economics & Finance, Elsevier, vol. 18(3), pages 457-468, June.
    81. Jack Favilukis & David Kohn & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2012. "International Capital Flows and House Prices: Theory and Evidence," NBER Chapters, in: Housing and the Financial Crisis, pages 235-299, National Bureau of Economic Research, Inc.
    82. Kurmas Akdogan, 2010. "Foreign Exchange Reserves in a Credit Constrained Economy," Birkbeck Working Papers in Economics and Finance 1014, Birkbeck, Department of Economics, Mathematics & Statistics.
    83. Édouard Vidon, 2009. "Monnaies de réserve et stabilité financière internationale," Revue d'Économie Financière, Programme National Persée, vol. 94(1), pages 219-232.
    84. Tommaso Trani, 2012. "Country Portfolios with Heterogeneous Pledgeability," IHEID Working Papers 02-2012, Economics Section, The Graduate Institute of International Studies, revised 12 Feb 2012.
    85. Toro-Córdoba, Jorge Hernán & Mora-Quiñones, Rocío & Parra-Amado, Daniel, 2013. "Flujos de capitales, la crisis financiera internacional y los desbalances macroeconómicos," Chapters, in: Rincón-Castro, Hernán & Velasco, Andrés M. (ed.), Flujos de capitales, choques externos y respuestas de política en países emergentes, chapter 1, pages 1-51, Banco de la Republica de Colombia.
    86. Kenza Benhima, 2008. "A Reappraisal of the Allocation Puzzle through the Portfolio Approach," EconomiX Working Papers 2008-27, University of Paris Nanterre, EconomiX.
    87. Gust, Christopher & Leduc, Sylvain & Sheets, Nathan, 2009. "The adjustment of global external balances: Does partial exchange-rate pass-through to trade prices matter?," Journal of International Economics, Elsevier, vol. 79(2), pages 173-185, November.
    88. Philippe Martin & Paolo Pesenti & Giancarlo Corsetti, 2008. "Varieties and imbalances: the extensive margins of the current account adjustment," 2008 Meeting Papers 605, Society for Economic Dynamics.
    89. Enrique G. Mendoza & Vincenzo Quadrini & José-Victor Ríos-Rull, 2007. "On the Welfare Implications of Financial Globalization without Financial Development," NBER Working Papers 13412, National Bureau of Economic Research, Inc.
    90. Sydney Ludvigson & Stijn Van Nieuwerburgh & Jack Favilukis, 2012. "Foreign Ownership of U.S. Safe Assets: Good or Bad?," 2012 Meeting Papers 297, Society for Economic Dynamics.
    91. Brumm, Johannes & Georgiadis, Georgios & Gräb, Johannes & Trottner, Fabian, 2019. "Global value chain participation and current account imbalances," Journal of International Money and Finance, Elsevier, vol. 97(C), pages 111-124.
    92. Giglio, Stefano & Severo, Tiago, 2012. "Intangible capital, relative asset shortages and bubbles," Journal of Monetary Economics, Elsevier, vol. 59(3), pages 303-317.
    93. Clemens Struck & Adnan Velic, 2016. "Competing Gains From Trade," Trinity Economics Papers tep1116, Trinity College Dublin, Department of Economics, revised Apr 2018.
    94. Abiola John Asaleye & Adedoyin Isola Lawal & Olabisi Popoola & Philip Olasupo Alege & Oluwatoyese Oluwapemi Oyetade, 2019. "Financial Integration, Employment and Wages Nexus: Evidence from Nigeria," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 15(1), pages 141-154.
    95. Viktors Stebunovs & Fabio Ghironi, 2008. "The Domestic and International Effects of Financial Deregulation," 2008 Meeting Papers 676, Society for Economic Dynamics.
    96. Guonan Ma & Zhou Haiwen, 2009. "China’s evolving external wealth and rising creditor position," BIS Working Papers 286, Bank for International Settlements.
    97. Qingyuan Du & Shang-Jin Wei, 2010. "A Sexually Unbalanced Model of Current Account Imbalances," NBER Working Papers 16000, National Bureau of Economic Research, Inc.
    98. Fracasso, Andrea & Schiavo, Stefano, 2009. "Global imbalances, exchange rates adjustment and the crisis: Implications from network analysis," Journal of Policy Modeling, Elsevier, vol. 31(5), pages 601-619, September.
    99. Carol Bertaut & Laurie Pounder DeMarco & Steven B. Kamin & Ralph W. Tryon, 2011. "ABS Inflows to the United States and the Global Financial Crisis," NBER Working Papers 17350, National Bureau of Economic Research, Inc.
    100. Carol C. Bertaut & Steven B. Kamin & Laurie Pounder DeMarco & Ralph W. Tryon, 2011. "ABS inflows to the United States and the global financial crisis," International Finance Discussion Papers 1028, Board of Governors of the Federal Reserve System (U.S.).
    101. Seema Wati Narayan, 2020. "Asian Current Account Balances and Spillovers from a Foreign Country, a Region and the United States," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 23(1), pages 1-24, April.

  50. Mr. Enrique G. Mendoza & Ceyhun Bora Durdu, 2006. "Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff," IMF Working Papers 2006/073, International Monetary Fund.

    Cited by:

    1. Daniel Levy & Tamir Mayer & Alon Raviv, 2022. "Economists in the 2008 Financial Crisis: Slow to See, Fast to Act," Working Papers 2022-01, Bar-Ilan University, Department of Economics.
    2. Marco E. Terrones & Enrique G. Mendoza & Ceyhun Bora Durdu, 2008. "Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Mercantilism," 2008 Meeting Papers 56, Society for Economic Dynamics.
    3. Javier Bianchi, 2012. "Efficient Bailouts?," Documentos de Trabajo (working papers) 2012, Department of Economics - dECON.
    4. Daniel Levy & Tamir Mayer & Alon Raviv, 2020. "Academic Scholarship in Light of the 2008 Financial Crisis: Textual Analysis of NBER Working Papers," Working Papers 2020-01, Bar-Ilan University, Department of Economics.
    5. Enrique G. Mendoza & Katherine A. Smith, 2014. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(1), pages 20-57, January.
    6. C. Bora Durdu, 2006. "Quantitative Implications of Indexed Bonds in Small Open Economies: Working Paper 2006-12," Working Papers 18245, Congressional Budget Office.
    7. Masashige Hamano & Yuki Murakami, 2024. "Optimal Government Spending in a Collateral-Constrained Small Open Economy," Working Papers 2401, Waseda University, Faculty of Political Science and Economics.
    8. Michael M. Hutchison & Ilan Noy & Lidan Wang, 2007. "Fiscal and Monetary Policies and the Cost of Sudden Stops," Working Papers 200724, University of Hawaii at Manoa, Department of Economics.
    9. C. Bora Durdu, 2011. "Review of "Emerging Markets Resilience and Growth Amid Global Turmoil by M. Ayhan Kose and Eswar S. Prasad"," Koç University-TUSIAD Economic Research Forum Working Papers 1111, Koc University-TUSIAD Economic Research Forum.
    10. Ms. Emine Boz & Ceyhun Bora Durdu & Ms. Nan Li, 2012. "Emerging Market Business Cycles: The Role of Labor Market Frictions," IMF Working Papers 2012/237, International Monetary Fund.
    11. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    12. Bora Durdu & Serdar Sayan, 2008. "Emerging market business cycles with remittance fluctuations," International Finance Discussion Papers 946, Board of Governors of the Federal Reserve System (U.S.).
    13. Bora Durdu, 2007. "Quantitative implications of indexed bonds in small open economies," International Finance Discussion Papers 909, Board of Governors of the Federal Reserve System (U.S.).
    14. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    15. Koehler-Geib, Friederike Norma, 2008. "The Effect of Uncertainty on the Occurrence and Spread of Financial Crises," Munich Dissertations in Economics 8067, University of Munich, Department of Economics.
    16. Enrique G. Mendoza & Katherine A. Smith, 2013. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," NBER Working Papers 19072, National Bureau of Economic Research, Inc.
    17. Urban J. Jermann, 2016. "Financial Markets’ Views about the Euro-Swiss Franc Floor," NBER Working Papers 21977, National Bureau of Economic Research, Inc.
    18. Javier Bianchi, 2010. "Overborrowing and Systemic Externalities in the Business Cycle," 2010 Meeting Papers 96, Society for Economic Dynamics.
    19. Katherine A. Smith & Enrique G. Mendoza, 2011. "Financial Globalization, Financial Crisis, and the External Capital Structure of Emerging Markets," 2011 Meeting Papers 235, Society for Economic Dynamics.
    20. Martin, Philippe & Rey, Hélène, 2005. "Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 5165, Centre for Economic Policy Research.
    21. Enrique G. Mendoza, 2006. "Lessons From the Debt-Deflation Theory of Sudden Stops," NBER Working Papers 11966, National Bureau of Economic Research, Inc.
    22. Benguria, Felipe & Matsumoto, Hidehiko & Saffie, Felipe, 2022. "Productivity and trade dynamics in sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
    23. Guillermo Calvo, 2007. "Crises in Emerging Market Economies: A Global Perspective," Working Papers Central Bank of Chile 441, Central Bank of Chile.

  51. Enrique G. Mendoza & P. Marcelo Oviedo, 2006. "Fiscal Policy and Macroeconomic Uncertainty in Developing Countries: The Tale of the Tormented Insurer," NBER Working Papers 12586, National Bureau of Economic Research, Inc.

    Cited by:

    1. Arthur Mendes & Steven Pennings, 2025. "One Rule Fits All? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can Be Persistent: Theory and Evidence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 55, January.
    2. Galego Mendes,Arthur & Pennings,Steven Michael, 2020. "One Rule Fits All ? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can BePersistent: Theory and Evidence," Policy Research Working Paper Series 9400, The World Bank.
    3. Iancu, Aurel & Olteanu, Dan Constantin, 2022. "Procyclical and Countercyclical Fiscal Policies in non-Euro EU Member Countries," Working Papers of National Institute for Economic Research 221220, Institutul National de Cercetari Economice (INCE).
    4. Oviedo, Marcelo P. & Andrian, Leandro Gaston, 2013. "Terms of Trade and Fiscal Sustainability when the Sovereign Exploits a Natural Resource," IDB Publications (Working Papers) 4656, Inter-American Development Bank.
    5. Carmen M. Reinhart & Miguel Angel Santos, 2015. "From Financial Repression to External Distress: The Case of Venezuela," NBER Working Papers 21333, National Bureau of Economic Research, Inc.
    6. Irina Kozlovtceva & Alexey Ponomarenko & Andrey Sinyakov & Stas Tatarintsev, 2019. "Financial Stability Implications of Policy Mix in a Small Open Commodity-Exporting Economy," Bank of Russia Working Paper Series wps42, Bank of Russia.
    7. Lacina Balma & Mthuli Ncube, 2015. "Macroeconomic Challenges of Structural Transformation: Public Investment, Growth and Debt Sustainability in Sierra Leone," IMF Working Papers 2015/164, International Monetary Fund.
    8. Alloza, Mario & Andrés, Javier & Pérez, Javier J. & Rojas, Juan A., 2020. "Implicit public debt thresholds: An operational proposal," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1408-1424.
    9. Carter, Patrick, 2017. "Aid econometrics: Lessons from a stochastic growth model," Journal of International Money and Finance, Elsevier, vol. 77(C), pages 216-232.
    10. Wichmann, Roberta Moreira & Portugal, Marcelo Savino, 2013. "Política Fiscal Assimétrica: O Caso do Brasil," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(3), September.
    11. Christoph Trebesch & Mr. Michael G. Papaioannou & Mr. Udaibir S Das, 2012. "Sovereign Debt Restructurings 1950-2010: Literature Survey, Data, and Stylized Facts," IMF Working Papers 2012/203, International Monetary Fund.
    12. Sakuragawa, Masaya & Hosono, Kaoru, 2011. "Fiscal sustainability in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 25(4), pages 434-446.
    13. Jeffrey A. Frankel, 2010. "The Natural Resource Curse: A Survey," NBER Working Papers 15836, National Bureau of Economic Research, Inc.
    14. U. Michael Bergman & Michael Hutchison, 2020. "Fiscal procyclicality in emerging markets: The role of institutions and economic conditions," International Finance, Wiley Blackwell, vol. 23(2), pages 196-214, August.
    15. Levy, Antoine & Ricci, Luca Antonio & Werner, Alejandro, 2020. "The Sources of Fiscal Fluctuations," CEPR Discussion Papers 15450, Centre for Economic Policy Research.
    16. Frankel, Jeffrey A. & Vegh, Carlos A. & Vuletin, Guillermo, 2013. "On graduation from fiscal procyclicality," Journal of Development Economics, Elsevier, vol. 100(1), pages 32-47.
    17. Dzhambova, Krastina, 2021. "“When it rains, it pours”: Fiscal policy, credit constraints and business cycles in emerging and developed economies," Journal of Macroeconomics, Elsevier, vol. 69(C).
    18. Karim Barhoumi & Reda Cherif & Mr. Nooman Rebei, 2016. "Stochastic Trends, Debt Sustainability and Fiscal Policy," IMF Working Papers 2016/059, International Monetary Fund.
    19. Barhoumi, Karim & Cherif, Reda & Rebei, Nooman, 2018. "Stochastic trends and fiscal policy," Economic Modelling, Elsevier, vol. 75(C), pages 256-267.
    20. Bashar, Omar H.M.N. & Bhattacharya, Prasad Sankar & Wohar, Mark E., 2017. "The cyclicality of fiscal policy: New evidence from unobserved components approach," Journal of Macroeconomics, Elsevier, vol. 53(C), pages 222-234.
    21. Koehler-Geib,Fritzi & Hnatkovska,Viktoria, 2015. "Business cycles accounting for Paraguay," Policy Research Working Paper Series 7284, The World Bank.
    22. Javier Andrés & Javier J. Pérez & Juan A. Rojas, 2017. "Implicit public debt thresholds: an empirical exercise for the case of Spain," Working Papers 1701, Banco de España.
    23. Huixin Bi & Ms. Wenyi Shen & Ms. Susan S. Yang, 2014. "Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries," IMF Working Papers 2014/049, International Monetary Fund.
    24. Ohnsorge, Franziska & Kose, M. Ayhan & Sugawara, Naotaka, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," CEPR Discussion Papers 14439, Centre for Economic Policy Research.
    25. Mr. Sanjeev Gupta & Alejandro Hajdenberg & Mr. Javier Arze del Granado, 2010. "Is Social Spending Procyclical?," IMF Working Papers 2010/234, International Monetary Fund.
    26. Jeffrey Frankel, 2011. "A Solution to Fiscal Procyclicality: the Structural Budget Institutions Pioneered by Chile," Working Papers Central Bank of Chile 604, Central Bank of Chile.
    27. Sangita Misra & Rajiv Ranjan, 2018. "Fiscal rules and procyclicality: an empirical analysis," Indian Economic Review, Springer, vol. 53(1), pages 207-228, December.
    28. Carneiro,Francisco Galrao & Hnatkovska,Viktoria, 2016. "Business cycles in the eastern Caribbean economies: the role of fiscal policy and interest rates," Policy Research Working Paper Series 7545, The World Bank.
    29. Sofia Bauducco & Francesco Caprioli, 2011. "Optimal Fiscal Policy in a Small Open Economy with Limited Commitment," Working Papers Central Bank of Chile 644, Central Bank of Chile.
    30. Arze del Granado, Javier & Gupta, Sanjeev & Hajdenberg, Alejandro, 2013. "Is Social Spending Procyclical? Evidence for Developing Countries," World Development, Elsevier, vol. 42(C), pages 16-27.
    31. Frankel, Jeffrey A., 2011. "How Can Commodity Exporters Make Fiscal and Monetary Policy Less Procyclical?," Scholarly Articles 4735392, Harvard Kennedy School of Government.
    32. Frankel, Jeffrey A., 2011. "A Lesson From the South for Fiscal Policy in the US and Other Advanced Countries," Scholarly Articles 4726595, Harvard Kennedy School of Government.
    33. Frankel, Jeffrey, 2011. "A Solution to Overoptimistic Forecasts and Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile," Working Paper Series 11-012, Harvard University, John F. Kennedy School of Government.
    34. Jeffrey Frankel, 2012. "The Natural Resource Curse: A Survey of Diagnoses and Some Prescriptions," CID Working Papers 233, Center for International Development at Harvard University.
    35. Serju-Thomas, Prudence, 2020. "Fiscal sustainability: The case for Jamaica," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    36. Ilzetzki, Ethan, 2011. "Rent-seeking distortions and fiscal procyclicality," Journal of Development Economics, Elsevier, vol. 96(1), pages 30-46, September.
    37. Enrique G. Mendoza & Jonathan D. Ostry, 2007. "International Evidence on Fiscal Solvency: Is Fiscal Policy "Responsible"?," NBER Working Papers 12947, National Bureau of Economic Research, Inc.
    38. Jeffrey Frankel, 2017. "How to Cope with Volatile Commodity Export Prices: Four Proposals," CID Working Papers 335, Center for International Development at Harvard University.
    39. Mendoza, Enrique G. & Oviedo, P. Marcelo, 2006. "Public Debt, Fiscal Solvency, and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia, Costa Rica, and Mexico," Staff General Research Papers Archive 12700, Iowa State University, Department of Economics.
    40. Durdu, C. Bora & Nunes, Ricardo & Sapriza, Horacio, 2013. "News and sovereign default risk in small open economies," Journal of International Economics, Elsevier, vol. 91(1), pages 1-17.
    41. Ethan Ilzetzki & Carlos A. Vegh, 2008. "Procyclical Fiscal Policy in Developing Countries: Truth or Fiction?," NBER Working Papers 14191, National Bureau of Economic Research, Inc.
    42. Jeffrey A. Frankel, 2011. "Over-optimism in Forecasts by Official Budget Agencies and Its Implications," NBER Working Papers 17239, National Bureau of Economic Research, Inc.
    43. Daniel Riera-Crichton & Pilar Ruiz Orrico & Guillermo Javier Vuletin, 2024. "From Fiscal Cyclicality to Fiscal Stress : The Role of Asymmetric Public Consumption Rigidities in Emerging Markets," Policy Research Working Paper Series 10984, The World Bank.
    44. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520, Elsevier.
    45. Cuadra, Gabriel & Sapriza, Horacio, 2008. "Sovereign default, interest rates and political uncertainty in emerging markets," Journal of International Economics, Elsevier, vol. 76(1), pages 78-88, September.
    46. Francisco de Castro & Francisco Martí & Antonio Montesinos & Javier J. Pérez & A. Jesús Sánchez-Fuentes, 2014. "Fiscal policies in Spain: Main stylises facts revisited," Working Papers 1408, Banco de España.
    47. Rodrigo Gonzáles Zuazo & José Miguel Molina Fernández, 2017. "On Graduation from Fiscal Procyclicality: The case of Bolivia," Revista Latinoamericana de Desarrollo Economico, Carrera de Economía de la Universidad Católica Boliviana (UCB), issue 27, pages 39-56.
    48. Khansa Zaman & Muhammad Saeed Rana & Umer Iftikhar, 2019. "A Multilevel Analysis of Job Demands and Intention to Resign Through Perceived Service Recovery Performance," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 67-82, June.
    49. Tari Lestari, 2014. "Can Indonesia’s Fiscal Policy be Sustained, with Exploding Debt?," Working Papers in Economics and Development Studies (WoPEDS) 201415, Department of Economics, Padjadjaran University, revised Nov 2014.
    50. Lee Robinson & Alice Nicole Sindzingre, 2012. "China’s Ambiguous Impacts on Commodity-Dependent Countries: the Example of Sub-Saharan Africa (with a Focus on Zambia)," EconomiX Working Papers 2012-39, University of Paris Nanterre, EconomiX.
    51. Ilzetzki, Ethan, 2006. "Rent seeing distortions and fiscal procyclicality," MPRA Paper 8726, University Library of Munich, Germany, revised 01 Dec 2007.
    52. Kozlovtceva, Irina & Ponomarenko, Alexey & Sinyakov, Andrey & Tatarintsev, Stas, 2020. "A case for leaning against the wind in a commodity-exporting economy," International Economics, Elsevier, vol. 164(C), pages 86-114.
    53. Nasha Ananchotikul & Chayawadee Chai-anant & Krist Dacharux & Manop Udomkerdmongkol, 2009. "Thailand’s Medium-term Macroeconomic Policies: Major Challenges and Appropriate Responses," Working Papers 2009-05, Monetary Policy Group, Bank of Thailand.
    54. Oviedo, P. Marcelo, 2006. "Sustainable Fiscal Policy with Rising Public Debt-To-Gdp Ratios," Staff General Research Papers Archive 12701, Iowa State University, Department of Economics.
    55. Francisco de Castro & Francisco Mart & Antonio Montesinos & Javier J. P rez & Antonio Jes s S nchez Fuentes, 2018. "A Quarterly Fiscal Database Fit for Macroeconomic Analysis," Hacienda Pública Española / Review of Public Economics, IEF, vol. 224(1), pages 139-155, March.
    56. Cruz-Rodríguez, Alexis, 2014. "Assessing fiscal sustainability in some selected countries," MPRA Paper 54975, University Library of Munich, Germany.
    57. Nazmus Sadat Khan, 2011. "Cyclical Behaviour of Macroeconomic Policies and Capital Flows: A Study of Asian Countries," Bangladesh Development Studies, Bangladesh Institute of Development Studies (BIDS), vol. 34(2), pages 47-85.
    58. Cruz-Rodriguez, Alexis, 2013. "La END, el plan nacional plurianual del sector público y la sostenibilidad fiscal en la República Dominicana [The Dominican National Development Strategy (END), the National Multi-Year Public Sector Plan (PNPSP) and fiscal sustainability in the Do," MPRA Paper 49376, University Library of Munich, Germany.
    59. Yasunori Fujita, 2015. "A new look at fiscal sustainability: an attempt to reveal the relationship between the sustainability of external debt and the inequality," Economics and Business Letters, Oviedo University Press, vol. 4(4), pages 161-165.
    60. Ana Lamo & Javier J. P鲥z & Ludger Schuknecht, 2013. "The cyclicality of consumption, wages and employment of the public sector in the euro area," Applied Economics, Taylor & Francis Journals, vol. 45(12), pages 1551-1569, April.
    61. Ianchovichina, Elena & Liu, Lili & Nagarajan, Mohan, 2006. "Subnational fiscal sustainability analysis : what can we learn from Tamil Nadu ?," Policy Research Working Paper Series 3947, The World Bank.
    62. Muhammad Jalib Sikandar & Fazale Wahid, 2019. "Debt and Economic Growth of Pakistan; Role of Uncertain Economic and Political Conditions," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 83-106, June.
    63. Mr. Evan C Tanner, 2013. "Fiscal Sustainability: A 21st Century Guide for the Perplexed," IMF Working Papers 2013/089, International Monetary Fund.
    64. Kambale Kavese & Andrew Phiri, 2019. "Fiscal cyclicality in South African public expenditures: Do asymmetries explain inconsistencies?," Working Papers 1909, Department of Economics, Nelson Mandela University, revised Sep 2019.
    65. Valentinyi, Ákos & Pápa, Levente, 2008. "Költségvetési fenntarthatóság [Budget sustainability]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 395-426.

  52. Enrique G. Mendoza, 2006. "Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints:A Fisherian Deflation of Tobin's Q," NBER Working Papers 12564, National Bureau of Economic Research, Inc.

    Cited by:

    1. Trejos, Alberto & Ferreira, Pedro Cavalcanti, 2008. "Trade in intermediate goods and total factor productivity," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 676, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    2. Diego Valderrama & Katherine Smith, 2009. "Why Do Emerging Economies Import Direct Investment and Export Savings? A Story of Financial Underdevelopment," 2009 Meeting Papers 1160, Society for Economic Dynamics.
    3. Bertrand Gruss & Silvia Sgherri, 2009. "The Volatility Costs of Procyclical Lending Standards: An Assessment Using a DSGE Model," Economics Working Papers ECO2009/07, European University Institute.
    4. Yulia Vymyatnina & Mikhail Pakhnin, 2014. "Application of Minsky's Theory to State-Dominated Economies," EUSP Department of Economics Working Paper Series 2014/03, European University at St. Petersburg, Department of Economics.
    5. Keiichiro KOBAYASHI, 2009. "Asset-Price Collapse and Market Disruption - A model of financial crises -," Discussion papers 09045, Research Institute of Economy, Trade and Industry (RIETI).
    6. Marco E. Terrones & Enrique G. Mendoza & Ceyhun Bora Durdu, 2008. "Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Mercantilism," 2008 Meeting Papers 56, Society for Economic Dynamics.
    7. Pedro Cavalcanti Ferreira & Alberto Trejos, 2008. "Trade in intermediate goods and total factor productivity," Working Papers 08_18, Universidade de São Paulo, Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto.
    8. Kehoe, Timothy J. & Ruhl, Kim J., 2009. "Sudden stops, sectoral reallocations, and the real exchange rate," Journal of Development Economics, Elsevier, vol. 89(2), pages 235-249, July.
    9. Calderón, César & Fuentes, J. Rodrigo, 2014. "Have business cycles changed over the last two decades? An empirical investigation," Journal of Development Economics, Elsevier, vol. 109(C), pages 98-123.
    10. Brutti, Filippo, 2008. "Legal enforcement, public supply of liquidity and sovereign risk," MPRA Paper 13949, University Library of Munich, Germany.
    11. Ludovic Gauvin & Cameron McLoughlin & Dennis Reinhardt, 2014. "Policy uncertainty spillovers to emerging markets – evidence from capital flows," Bank of England Staff Working Paper series 512, Bank of England.
    12. Javier Garcia-Sanchez & Luiz F. Mesquita & Roberto S. Vassolo, 2014. "What doesn't kill you makes you stronger: The evolution of competition and entry-order advantages in economically turbulent contexts," Strategic Management Journal, Wiley Blackwell, vol. 35(13), pages 1972-1992, December.
    13. Enrique G. Mendoza & Katherine A. Smith, 2014. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(1), pages 20-57, January.
    14. Enrique G. Mendoza, 2008. "Sudden Stops, Financial Crises and Leverage: A Fisherian Deflation of Tobin's Q," NBER Working Papers 14444, National Bureau of Economic Research, Inc.
    15. Enrique G. Mendoza, 2010. "Sudden Stops, Financial Crises, and Leverage," American Economic Review, American Economic Association, vol. 100(5), pages 1941-1966, December.
    16. Alfaro, Laura & Kanczuk, Fabio, 2009. "Optimal reserve management and sovereign debt," Journal of International Economics, Elsevier, vol. 77(1), pages 23-36, February.
    17. Timothy J. Kehoe & Kim J. Ruhl, 2007. "Are Shocks to the Terms of Trade Shocks to Productivity?," NBER Working Papers 13111, National Bureau of Economic Research, Inc.
    18. Arteta, Carlos & Hale, Galina, 2008. "Sovereign debt crises and credit to the private sector," Journal of International Economics, Elsevier, vol. 74(1), pages 53-69, January.
    19. Enrique G. Mendoza & Marco E. Terrones, 2008. "An anatomy of credit booms: evidence from macro aggregates and micro data," International Finance Discussion Papers 936, Board of Governors of the Federal Reserve System (U.S.).
    20. Andrian, Leandro Gaston, 2010. "Essays on energy economics: Microeconomic and macroeconomic dimensions," ISU General Staff Papers 201001010800002725, Iowa State University, Department of Economics.
    21. Jan Toporowski, 2013. "The Elgar Companion to Hyman Minsky," Review of Political Economy, Taylor & Francis Journals, vol. 25(1), pages 175-177, January.
    22. Yulia Vymyatnina, 2016. "Credit Dynamics of Various Entities in Russia: Impact of Oil Prices and Sanctions," EcoMod2016 9543, EcoMod.
    23. Galina Hale & Assaf Razin & Hui Tong, 2007. "Credit Constraints and Stock Price Volatility," NBER Working Papers 13089, National Bureau of Economic Research, Inc.
    24. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    25. Smith, Katherine A. & Valderrama, Diego, 2009. "The composition of capital inflows when emerging market firms face financing constraints," Journal of Development Economics, Elsevier, vol. 89(2), pages 223-234, July.
    26. Bertrand Gruss & Karel Mertens, 2009. "Regime Switching Interest Rates and Fluctuations in Emerging Markets," Economics Working Papers ECO2009/22, European University Institute.
    27. Mr. Ruy Lama, 2009. "Accounting for Output Drops in Latin America," IMF Working Papers 2009/067, International Monetary Fund.
    28. Arellano, Cristina, 2008. "Default risk and income fluctuations in emerging economies," MPRA Paper 7867, University Library of Munich, Germany.
    29. Aoki, Kosuke & Benigno, Gianluca & Kiyotaki, Nobuhiro, 2009. "Capital flows and asset prices," LSE Research Online Documents on Economics 25487, London School of Economics and Political Science, LSE Library.
    30. Piero Ferri, 2010. "Growth Cycles and the Financial Instability Hypothesis (FIH)," Chapters, in: Dimitri B. Papadimitriou & L. Randall Wray (ed.), The Elgar Companion to Hyman Minsky, chapter 11, Edward Elgar Publishing.
    31. Nan Li, 2008. "Cyclical Wage Movements in Emerging Markets Compared to Developed Economies: the Role of Interest Rates," 2008 Meeting Papers 438, Society for Economic Dynamics.
    32. Jiang, Dou, 2023. "Output drops in ASEAN-5 countries: A business cycle accounting perspective," Economic Modelling, Elsevier, vol. 126(C).
    33. Ester Faia & Eleni Iliopulos, 2010. "Financial Globalization, Financial Frictions and Optimal Monetary Policy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00497486, HAL.
    34. Keiichiro KOBAYASHI & Tomoyuki NAKAJIMA & Masaru INABA, 2007. "Collateral Constraint and News-driven Cycles," Discussion papers 07013, Research Institute of Economy, Trade and Industry (RIETI).
    35. Piero Ferri & AnnaMaria Variato, 2010. "Financial Fragility, the Minskian Triad, and Economic Dynamics," International Journal of Political Economy, Taylor & Francis Journals, vol. 39(2), pages 70-82.
    36. Pedro Cavalcanti Ferreira & Alberto Trejos, 2011. "Gains from Trade and Measured Total Factor Productivity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(3), pages 496-510, July.
    37. Koehler-Geib, Friederike Norma, 2008. "The Effect of Uncertainty on the Occurrence and Spread of Financial Crises," Munich Dissertations in Economics 8067, University of Munich, Department of Economics.
    38. Piero Ferri, 2011. "Macroeconomics of Growth Cycles and Financial Instability," Books, Edward Elgar Publishing, number 14260.
    39. Michael B. Devereux & James Yetman, 2010. "Leverage Constraints and the International Transmission of Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 71-105, September.
    40. Aysun, Uluc & Honig, Adam, 2011. "Bankruptcy costs, liability dollarization, and vulnerability to sudden stops," Journal of Development Economics, Elsevier, vol. 95(2), pages 201-211, July.
    41. Enrique G. Mendoza & Katherine A. Smith, 2013. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," NBER Working Papers 19072, National Bureau of Economic Research, Inc.
    42. Romain Ranciere & Ana Fostel & Luis Catao, 2011. "Sudden Stops and Sovereign Defaults," 2011 Meeting Papers 1359, Society for Economic Dynamics.
    43. Enrique Mendoza, 2006. "EconomicDynamics Interviews Enrique Mendoza on Financial Frictions, Sudden Stops and Global Imbalances," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 8(1), November.
    44. Matheus Cardoso Leal & Marcio Issao Nakane, 2022. "Brazilian economy in the 2000's: A tale of two recessions," Working Papers, Department of Economics 2022_20, University of São Paulo (FEA-USP).
    45. Ester Faia, 2007. "Welfare Implications of Capital Account Liberalization," CEIS Research Paper 92, Tor Vergata University, CEIS.
    46. Katherine A. Smith & Enrique G. Mendoza, 2011. "Financial Globalization, Financial Crisis, and the External Capital Structure of Emerging Markets," 2011 Meeting Papers 235, Society for Economic Dynamics.
    47. Guido Sandleris & Mark L.J. Wright, 2011. "The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis," NBER Working Papers 17552, National Bureau of Economic Research, Inc.
    48. Vasco Curdia, 2007. "Monetary policy under sudden stops," Staff Reports 278, Federal Reserve Bank of New York.
    49. Felipe Meza & David Benjamin, 2007. "Total Factor Productivity and Labor Reallocation: The Case of the Korean 1997 Crisis," 2007 Meeting Papers 157, Society for Economic Dynamics.
    50. Ferreira, Pedro Cavalcanti & Trejos, Alberto, 2010. "Gains from trade and measured total factor productivity," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 711, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    51. Roberto Chang & Andrés Fernández, 2010. "On the Sources of Aggregate Fluctuations in Emerging Economies," NBER Working Papers 15938, National Bureau of Economic Research, Inc.
    52. Hale, Galina & Arteta, Carlos, 2009. "Currency crises and foreign credit in emerging markets: Credit crunch or demand effect?," European Economic Review, Elsevier, vol. 53(7), pages 758-774, October.
    53. Luis A. V. Catao & Ana Fostel & Sandeep Kapur, 2008. "Persistent Gaps and Default Traps," Birkbeck Working Papers in Economics and Finance 0803, Birkbeck, Department of Economics, Mathematics & Statistics.
    54. Joaquin Blaum, 2018. "Global Firms in Large Devaluations," 2018 Meeting Papers 593, Society for Economic Dynamics.
    55. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126.
    56. Kurmas Akdogan, 2010. "Foreign Exchange Reserves in a Credit Constrained Economy," Birkbeck Working Papers in Economics and Finance 1014, Birkbeck, Department of Economics, Mathematics & Statistics.
    57. Antón Sarabia Arturo, 2008. "Accounting for Output Fluctuations in Mexico," Working Papers 2008-05, Banco de México.
    58. Joyce, Joseph P. & Nabar, Malhar, 2009. "Sudden stops, banking crises and investment collapses in emerging markets," Journal of Development Economics, Elsevier, vol. 90(2), pages 314-322, November.
    59. Brinca, Pedro & Costa-Filho, João & Loria, Francesca, 2020. "Business Cycle Accounting: what have we learned so far?," MPRA Paper 100180, University Library of Munich, Germany.
    60. Mertens, Karel, 2007. "The Role of Expectations in Sudden Stops," Working Papers 07-10, Cornell University, Center for Analytic Economics.
    61. Brutti, Filippo, 2011. "Sovereign defaults and liquidity crises," Journal of International Economics, Elsevier, vol. 84(1), pages 65-72, May.
    62. Camelia Madalina Orac & Florentin Caloian, 2013. "Using Gem - Global Economic Model In Achieving A Global Economic Forecast," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 54-60.
    63. Converse, Nathan, 2018. "Uncertainty, capital flows, and maturity mismatch," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 260-275.
    64. Chokri Zehri, 2020. "Policies for managing sudden stops," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(1), pages 9-33.
    65. Michał Brzoza-Brzezina & Pascal Jacquinot & Marcin Kolasa, 2014. "Can We Prevent Boom-Bust Cycles During Euro Area Accession?," Open Economies Review, Springer, vol. 25(1), pages 35-69, February.
    66. Enrique G. Mandoza & Vivian Z. Yue, 2008. "A solution to the default risk-business cycle disconnect," International Finance Discussion Papers 924, Board of Governors of the Federal Reserve System (U.S.).
    67. Enrique G. Mendoza & Vivian Z. Yue, 2008. "A Solution to the Disconnect between Country Risk and Business Cycle Theories," NBER Working Papers 13861, National Bureau of Economic Research, Inc.
    68. Masaru INABA & Keiichiro KOBAYASHI, 2009. "Quantitative Significance of Collateral Constraints as an Amplification Mechanism," Discussion papers 09035, Research Institute of Economy, Trade and Industry (RIETI).

  53. Enrique G. Mendoza, 2006. "Lessons From the Debt-Deflation Theory of Sudden Stops," NBER Working Papers 11966, National Bureau of Economic Research, Inc.

    Cited by:

    1. Mahmut Çelik & Ayla Oğuş Binatlı, 2022. "How Effective Are Macroprudential Policy Instruments? Evidence from Turkey," Economies, MDPI, vol. 10(4), pages 1-17, March.
    2. Brei, Michael & Buzaushina, Almira, 2015. "International financial shocks in emerging markets," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 51-74.
    3. Thomas McGregor, 2017. "Pricing sovereign debt in resource rich economies," OxCarre Working Papers 194, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    4. Daniel Levy & Tamir Mayer & Alon Raviv, 2022. "Economists in the 2008 Financial Crisis: Slow to See, Fast to Act," Working Papers 2022-01, Bar-Ilan University, Department of Economics.
    5. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    6. Marco E. Terrones & Enrique G. Mendoza & Ceyhun Bora Durdu, 2008. "Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Mercantilism," 2008 Meeting Papers 56, Society for Economic Dynamics.
    7. Aliya Algozhina, 2012. "Monetary and Fiscal Policy Interactions in an Emerging Open Economy: A Non-Ricardian DSGE Approach," CERGE-EI Working Papers wp476, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    8. M Ayhan Kose & Eswar Prasad & Kenneth Rogoff & Shang-Jin Wei, 2009. "Financial Globalization: A Reappraisal," IMF Staff Papers, Palgrave Macmillan, vol. 56(1), pages 8-62, April.
    9. Franz Hamann & Jesús Bejarano & Diego Rodríguez, 2015. "Monetary policy implications for an oil-exporting economy of lower long-run international oil prices," Borradores de Economia 871, Banco de la Republica de Colombia.
    10. Mendicino, Caterina, 2008. "On the amplification role of collateral constraints," MPRA Paper 9425, University Library of Munich, Germany.
    11. Daniel Levy & Tamir Mayer & Alon Raviv, 2020. "Academic Scholarship in Light of the 2008 Financial Crisis: Textual Analysis of NBER Working Papers," Working Papers 2020-01, Bar-Ilan University, Department of Economics.
    12. Galina Hale & Assaf Razin & Hui Tong, 2008. "Credit Crunch, Creditor Protection, and Asset Prices," Working Papers 162008, Hong Kong Institute for Monetary Research.
    13. Jon Frost & Hiro Ito & René van Stralen, 2020. "The effectiveness of macroprudential policies and capital controls against volatile capital inflows," Working Papers 686, DNB.
    14. Filippo Balestrieri & Mr. Suman S Basu, 2018. "An Imperfect Financial Union With Heterogeneous Regions," IMF Working Papers 2018/205, International Monetary Fund.
    15. Ronald U. Mendoza, 2007. "A Compendium of Policy Instruments to Enhance Financial Stability and Debt Management in Emerging Market Economies," Working Papers 48, United Nations, Department of Economics and Social Affairs.
    16. Drechsel, Thomas & Kim, Seho, 2024. "Macroprudential policy with earnings-based borrowing constraints," Journal of Monetary Economics, Elsevier, vol. 147(C).
    17. Salih Fendoglu, 2016. "Credit cycles and macroprudential policy framework in emerging countries," BIS Papers chapters, in: Bank for International Settlements (ed.), Macroprudential policy, volume 86, pages 17-25, Bank for International Settlements.
    18. Galina Hale & Assaf Razin & Hui Tong, 2009. "The Impact of Credit Protection on Stock Prices in the Presence of Credit Crunches," NBER Working Papers 15141, National Bureau of Economic Research, Inc.
    19. Ho, Tai-kuang & Yeh, Kuo-chun, 2019. "Were capital flows the culprit in the Weimar economic crisis?," Explorations in Economic History, Elsevier, vol. 74(C).
    20. Petre Caraiani, 2016. "Business Cycle Accounting for Peripheral European Economies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(5), pages 468-496, November.
    21. Pender, Casey, 2024. "Is deflation cause for panic? Evidence from the National Banking era," Journal of Macroeconomics, Elsevier, vol. 82(C).
    22. Razin, Assaf & Hale, Galina & Tong, Hui, 2007. "Creditor Protection and Stock Price Volatility," CEPR Discussion Papers 6540, Centre for Economic Policy Research.
    23. Tiryaki, S. Tolga, 2014. "Sectoral asymmetries in a small open economy," Economic Modelling, Elsevier, vol. 43(C), pages 465-475.
    24. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520, Elsevier.
    25. Heymann, Daniel, 2007. "Macroeconomics of broken promises," Documentos de Proyectos 3557, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    26. Pablo A. Cuba-Borda & Luca Guerrieri & Matteo Iacoviello & Molin Zhong, 2019. "Likelihood Evaluation of Models with Occasionally Binding Constraints," Finance and Economics Discussion Series 2019-028, Board of Governors of the Federal Reserve System (U.S.).
    27. Razin, Assaf & Hale, Galina & Tong, Hui, 2008. "Creditor Protection, Contagion, and Stock Market Price Volatility," CEPR Discussion Papers 6658, Centre for Economic Policy Research.
    28. Vassolo, Roberto & García-Sánchez, Javier & Mesquita, Luiz, 2017. "Competitive dynamics and early mover advantages under economic recessions," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 57(1), February.
    29. Kamber, Günes & Smith, Christie & Thoenissen, Christoph, 2015. "Financial frictions and the role of investment-specific technology shocks in the business cycle," Economic Modelling, Elsevier, vol. 51(C), pages 571-582.
    30. Levan Efremidze & Akinori Tomohara, 2011. "Have the Implications of Twin Deficits Changed?: Sudden Stops over Decades," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 17(1), pages 66-76, February.
    31. Lin, Li & Tsomocos, Dimitrios P. & Vardoulakis, Alexandros P., 2015. "Debt deflation effects of monetary policy," Journal of Financial Stability, Elsevier, vol. 21(C), pages 81-94.
    32. Thomas Drechsel, 2018. "Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations," 2018 Papers pdr141, Job Market Papers.
    33. Awijen, Haithem & Hammami, Sami, 2017. "Financial frictions and regime switching: The role of collateral asset in emerging stock market," Economics Discussion Papers 2017-6, Kiel Institute for the World Economy.
    34. Uluc Aysun & Adam Honig, 2008. "Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops," Working papers 2008-41, University of Connecticut, Department of Economics.
    35. Mr. Jaromir Benes & Mr. Andrew Berg & Mr. Rafael A Portillo & Mai Dao & Mr. Alfredo Baldini, 2012. "Monetary Policy in Low Income Countries in the Face of the Global Crisis: The Case of Zambia," IMF Working Papers 2012/094, International Monetary Fund.
    36. Ahmet Aysan & Salih Fendoglu & Mustafa Kilinc, 2014. "Managing short-term capital flows in new central banking: unconventional monetary policy framework in Turkey," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 4(1), pages 45-69, June.
    37. Alfredo Baldini & Jaromir Benes & Andrew Berg & Mai C. Dao & Rafael A. Portillo, 2015. "Monetary Policy in Low Income Countries in the Face of The Global Crisis: A Structural Analysis," Pacific Economic Review, Wiley Blackwell, vol. 20(1), pages 149-192, February.
    38. Brahim Gaies & Stéphane Goutte & Khaled Guesmi, 2019. "Does Financial Globalization Still Spur Growth In Emerging And Developing Countries? Considering Exchange Rate Volatility'S Effects," Working Papers hal-01968082, HAL.
    39. Nikolai Stähler, 2013. "Recent Developments In Quantitative Models Of Sovereign Default," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 605-633, September.
    40. Mr. Thierry Tressel & Mr. Thierry Verdier, 2007. "Financial Globalization and the Governance of Domestic Financial Intermediaries," IMF Working Papers 2007/047, International Monetary Fund.
    41. Joyce, Joseph P. & Nabar, Malhar, 2009. "Sudden stops, banking crises and investment collapses in emerging markets," Journal of Development Economics, Elsevier, vol. 90(2), pages 314-322, November.
    42. Dmitriev, Mikhail & Hoddenbagh, Jonathan, 2012. "The optimal design of a fiscal union," MPRA Paper 46007, University Library of Munich, Germany, revised Apr 2013.
    43. Hans Dewachter & Raf Wouters, 2012. "Endogenous risk in a DSGE model with capital-constrained financial intermediaries," Working Paper Research 235, National Bank of Belgium.
    44. Konstantin Makrelov & Rob Davies & Laurence Harris, 2019. "The impact of capital flow reversal shocks in South Africa a stock and flowconsistent analysis," Working Papers 9392, South African Reserve Bank.
    45. Bhattacharya, Sudipto & Goodhart, Charles & Tsomocos, Dimitrios P. & Vardoulakis, Alexandros P., 2015. "A reconsideration of Minsky’s financial instabilityhypothesis," LSE Research Online Documents on Economics 64218, London School of Economics and Political Science, LSE Library.

  54. Mr. Enrique G. Mendoza, 2006. "Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies," IMF Working Papers 2006/088, International Monetary Fund.

    Cited by:

    1. Olivier Jeanne & Anton Korinek, 2010. "Managing Credit Booms and Busts: A Pigouvian Taxation Approach," NBER Working Papers 16377, National Bureau of Economic Research, Inc.
    2. Kumhof, Michael & Li, Shujing & Yan, Isabel, 2007. "Balance of payments crises under inflation targeting," Journal of International Economics, Elsevier, vol. 72(1), pages 242-264, May.
    3. Felipe Benguria & Felipe Saffie & Hidehiko Matsumoto, 2019. "Productivity and Trade Dynamics in Sudden Stops," 2019 Meeting Papers 1378, Society for Economic Dynamics.
    4. David Parsley & Helen Popper, 2010. "Understanding Real Exchange Rate Movements With Trade In Intermediate Products," Pacific Economic Review, Wiley Blackwell, vol. 15(2), pages 171-188, May.
    5. Marco E. Terrones & Enrique G. Mendoza & Ceyhun Bora Durdu, 2008. "Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Mercantilism," 2008 Meeting Papers 56, Society for Economic Dynamics.
    6. Kehoe, Timothy J. & Ruhl, Kim J., 2009. "Sudden stops, sectoral reallocations, and the real exchange rate," Journal of Development Economics, Elsevier, vol. 89(2), pages 235-249, July.
    7. Yan, Isabel K. & Kumhof, Michael, 2011. "Too much of a good thing? on the effects of limiting foreign reserve accumulation," MPRA Paper 35231, University Library of Munich, Germany.
    8. Gabriela Castro & José R. Maria & Paulo Júlio, 2013. "Inside PESSOA -A Detailed Description of the Model," Working Papers w201316, Banco de Portugal, Economics and Research Department.
    9. Rojas, Eugenio & Saffie, Felipe, 2025. "A simple measure of Fisherian amplification with flow collateral constraints," Economics Letters, Elsevier, vol. 255(C).
    10. Kumhof, Michael & Yan, Isabel, 2016. "Balance-of-payments anti-crises," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 186-202.
    11. Papa N'Diaye & Ping Zhang & Wenlang Zhang, 2008. "Structural Reform, Intra-Regional Trade, and Medium-Term Growth Prospects of East Asia and the Pacific --- Perspectives from a new multi-region model," Working Papers 0817, Hong Kong Monetary Authority.
    12. Martin Uribe, 2018. "Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited," 2018 Meeting Papers 358, Society for Economic Dynamics.
    13. Rudolfs Bems & Julian di Giovanni, 2016. "Income-Induced expenditure switching," Economics Working Papers 1534, Department of Economics and Business, Universitat Pompeu Fabra.
    14. Hao Jin & Hewei Shen, 2020. "Foreign Asset Accumulation among Emerging Market Economies: a Case for Coordination," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 35, pages 54-73, January.
    15. C. Bora Durdu, 2006. "Quantitative Implications of Indexed Bonds in Small Open Economies: Working Paper 2006-12," Working Papers 18245, Congressional Budget Office.
    16. Kónya, István & Váry, Miklós, 2024. "Which sectors go on when there is a sudden stop? An empirical analysis," Journal of International Money and Finance, Elsevier, vol. 146(C).
    17. Bilge Erten & Anton Korinek & José Antonio Ocampo, 2021. "Capital Controls: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 59(1), pages 45-89, March.
    18. Gondo, Rocío, 2013. "Default Externalities in Emerging Market Systemic Private Debt Crises," Working Papers 2013-023, Banco Central de Reserva del Perú.
    19. Romelli, Davide & Terra, Cristina & Vasconcelos, Enrico, 2018. "Current account and real exchange rate changes: The impact of trade openness," European Economic Review, Elsevier, vol. 105(C), pages 135-158.
    20. Liu, Siming, 2022. "Government spending during sudden stop crises," Journal of International Economics, Elsevier, vol. 135(C).
    21. Schmitt-Grohé, Stephanie & Uribe, Martín, 2019. "Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints," CEPR Discussion Papers 14248, Centre for Economic Policy Research.
    22. Enrique G. Mendoza & Marco E. Terrones, 2008. "An anatomy of credit booms: evidence from macro aggregates and micro data," International Finance Discussion Papers 936, Board of Governors of the Federal Reserve System (U.S.).
    23. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
    24. Jean-Olivier Hairault & Thepthida Sopraseuth, 2008. "Fluctuations Internationales et Dynamique du Taux de Change," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00270284, HAL.
    25. Julian Parra-Polania & Carmiña Vargas, 2015. "Optimal tax on capital inflows discriminated by debt-risk profile," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 22(1), pages 102-119, February.
    26. Martin Berka & Michael B. Devereux & Charles Engel, 2017. "Real Exchange Rates and Sectoral Productivity in the Eurozone," Discussion Papers 1701, School of Accountancy, Economics and Finance, Massey University, New Zealand.
    27. Vanda Almeida & Gabriela Castro & Ricardo Mourinho Félix & José R. Maria, 2013. "Fiscal Consolidation in a Small Euro-Area Economy," International Journal of Central Banking, International Journal of Central Banking, vol. 9(4), pages 1-38, December.
    28. Bianchi, Javier & Coulibaly, Louphou, 2026. "A theory of fear of floating," Journal of Monetary Economics, Elsevier, vol. 157(C).
    29. Stephanie Schmitt-Grohé & Martín Uribe, 2016. "Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints," NBER Working Papers 22971, National Bureau of Economic Research, Inc.
    30. Akihiko Ikeda, 2020. "Currency Swap Agreements and Financial Crises in Small Open Economies," KIER Working Papers 1033, Kyoto University, Institute of Economic Research.
    31. Kunieda, Takuma & Nishimura, Kazuo, 2025. "Capital account liberalization, production heterogeneity, and belief-driven fluctuations in financial-constrained economies," Journal of Macroeconomics, Elsevier, vol. 86(C).
    32. Kim Ruhl & Joseph Steinberg & Timothy Kehoe, 2013. "Global Imbalances and Structural Change in the United States," 2013 Meeting Papers 1089, Society for Economic Dynamics.
    33. Mr. Michael Kumhof & Mr. Douglas Laxton, 2009. "Chile’s Structural Fiscal Surplus Rule: A Model-Based Evaluation," IMF Working Papers 2009/088, International Monetary Fund.
    34. Yun Jung Kim & Jing Zhang, 2023. "International Capital Flows: Private Versus Public Flows In Developing And Developed Countries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(1), pages 225-260, February.
    35. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    36. Rojas, Eugenio & Saffie, Felipe, 2022. "Non-homothetic sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
    37. Bora Durdu & Serdar Sayan, 2008. "Emerging market business cycles with remittance fluctuations," International Finance Discussion Papers 946, Board of Governors of the Federal Reserve System (U.S.).
    38. Enrique G. Mendoza, 2017. "Política macroprudencial: promesas y desafíos," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(2), pages 042-088, August.
    39. Ottonello, Pablo, 2021. "Optimal exchange-rate policy under collateral constraints and wage rigidity," Journal of International Economics, Elsevier, vol. 131(C).
    40. Bora Durdu, 2007. "Quantitative implications of indexed bonds in small open economies," International Finance Discussion Papers 909, Board of Governors of the Federal Reserve System (U.S.).
    41. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    42. Meza, Felipe & Urrutia, Carlos, 2011. "Financial liberalization, structural change, and real exchange rate appreciations," Journal of International Economics, Elsevier, vol. 85(2), pages 317-328.
    43. Tiryaki, S. Tolga, 2014. "Sectoral asymmetries in a small open economy," Economic Modelling, Elsevier, vol. 43(C), pages 465-475.
    44. Korinek, Anton & Sandri, Damiano, 2016. "Capital controls or macroprudential regulation?," Journal of International Economics, Elsevier, vol. 99(S1), pages 27-42.
    45. Vanda Almeida & Gabriela Castro & Ricardo Félix, 2010. "Improving competition in the non-tradable goods and labour markets: the Portuguese case," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 9(3), pages 163-193, December.
    46. Parimoo, Suneil, 2024. "Cycles and self-fulfilling crises in open economies with stock collateral constraints under impatience," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    47. Carlos A. Ibarra, 2013. "Capital Flows and Private Investment in Mexico," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(3, Cierre), pages 65-99.
    48. Siming Liu, 2018. "Spending Multiplier during Sudden Stop Crises," 2018 Meeting Papers 226, Society for Economic Dynamics.
    49. Mr. Luis Catão & Mr. Marco Terrones, 2016. "Financial De-Dollarization: A Global Perspective and the Peruvian Experience," IMF Working Papers 2016/097, International Monetary Fund.
    50. Castro, Gabriela & Maria, José R. & Félix, Ricardo Mourinho & Braz, Cláudia Rodrigues, 2017. "Aging And Fiscal Sustainability In A Small Euro Area Economy," Macroeconomic Dynamics, Cambridge University Press, vol. 21(7), pages 1673-1705, October.
    51. Javier Bianchi, 2011. "Overborrowing and Systemic Externalities in the Business Cycle," American Economic Review, American Economic Association, vol. 101(7), pages 3400-3426, December.
    52. Mr. Leif Lybecker Eskesen, 2009. "Countering the Cycle—The Effectiveness of Fiscal Policy in Korea," IMF Working Papers 2009/249, International Monetary Fund.
    53. Korinek, Anton, 2018. "Regulating capital flows to emerging markets: An externality view," Journal of International Economics, Elsevier, vol. 111(C), pages 61-80.
    54. Gabriela Castro & José R. Maria, 2010. "Fiscal Stimulus in a Small Euro Area Economy," Working Papers w201016, Banco de Portugal, Economics and Research Department.
    55. Marco Ortiz & Gerardo Herrera, 2020. "Heterogeneous Credit Constraints and Optimal Monetary Policy," Working Papers 164, Peruvian Economic Association.
    56. Seoane, Hernán D., 2016. "Parameter drifts, misspecification and the real exchange rate in emerging countries," Journal of International Economics, Elsevier, vol. 98(C), pages 204-215.
    57. Nestor Azcona, 2011. "Self-Fulfilling Currency Crises with Borrowing Constraints and Domestic Currency Debt," Open Economies Review, Springer, vol. 22(5), pages 917-933, November.
    58. Enrique G. Mendoza, 2006. "Lessons from the Debt-Deflation Theory of Sudden Stops," American Economic Review, American Economic Association, vol. 96(2), pages 411-416, May.
    59. Hidehiko Matsumoto, 2022. "Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 241-262, January.
    60. Chokri Zehri, 2020. "Policies for managing sudden stops," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(1), pages 9-33.
    61. N'Diaye, Papa & Zhang, Ping & Zhang, Wenlang, 2010. "Structural reform, intra-regional trade, and medium-term growth prospects of East Asia and the Pacific--Perspectives from a new multi-region model," Journal of Asian Economics, Elsevier, vol. 21(1), pages 20-36, February.
    62. Enrique G. Mendoza & Eugenio Rojas, 2019. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(1), pages 174-214, March.

  55. Mendoza, Enrique G. & Oviedo, P. Marcelo, 2006. "Public Debt, Fiscal Solvency, and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia, Costa Rica, and Mexico," Staff General Research Papers Archive 12700, Iowa State University, Department of Economics.

    Cited by:

    1. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    2. Mr. Evan C Tanner & Mr. Kevin J Carey, 2005. "The Perils of Tax Smoothing: Sustainable Fiscal Policy with Random Shocks to Permanent Output," IMF Working Papers 2005/207, International Monetary Fund.
    3. Mr. E. H. Gardner & Mr. Julian Di Giovanni, 2008. "A Simple Stochastic Approach to Debt Sustainability Applied to Lebanon," IMF Working Papers 2008/097, International Monetary Fund.
    4. Oya Celasun & Mr. Xavier Debrun & Mr. Jonathan David Ostry, 2006. "Primary Surplus Behavior and Risks to Fiscal Sustainability in Emerging Market Countries: A "Fan-Chart" Approach," IMF Working Papers 2006/067, International Monetary Fund.
    5. Mehak Ejaz & Kalim Hyder, 2019. "A Fan Chart Approach to Debt Sustainability in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 24(2), pages 1-23, July-Dec.
    6. Mr. Magnus Saxegaard, 2014. "Safe Debt and Uncertainty in Emerging Markets: An Application to South Africa," IMF Working Papers 2014/231, International Monetary Fund.
    7. Fernando Arias-Rodríguez & Julián A. Parra-Polanía, 2021. "Pensiones y reforma pensional: efectos macroeconómicos del envejecimiento en Colombia," Borradores de Economia 1173, Banco de la Republica de Colombia.
    8. Mr. Paolo Mauro & Mr. Marcos Chamon, 2005. "Pricing Growth-Indexed Bonds," IMF Working Papers 2005/216, International Monetary Fund.
    9. Mr. Andrew Berg & Mr. Rafael A Portillo & Mr. Edward F Buffie & Ms. Catherine A Pattillo & Luis-Felipe Zanna, 2012. "Public Investment, Growth, and Debt Sustainability: Putting together the Pieces," IMF Working Papers 2012/144, International Monetary Fund.
    10. Ali, Amjad, 2022. "Determining Pakistan's Financial Dependency: The Role of Financial Globalization and Corruption," MPRA Paper 116097, University Library of Munich, Germany.
    11. Salifou Issoufou & Mr. Edward F Buffie & Mouhamadou Bamba Diop & Kalidou Thiaw, 2014. "Efficient Energy Investment and Fiscal Adjustment in Senegal," IMF Working Papers 2014/044, International Monetary Fund.
    12. Lankester-Campos, Valerie & Loaiza-Marín, Kerry & Monge-Badilla, Carlos, 2020. "Assessing public debt sustainability for Costa Rica using the fiscal reaction function," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    13. István Ábel & Ádám Kóbor, 2022. "Macroeconomic Components of the Risks to Fiscal Sustainability in Hungary," Risks, MDPI, vol. 10(11), pages 1-13, October.
    14. Lihe Tu & Emanuele Padovani, 2018. "A Research on the Debt Sustainability of China’s Major City Governments in Post-Land Finance Era," Sustainability, MDPI, vol. 10(5), pages 1-21, May.
    15. Mr. Evan C Tanner & Issouf Samaké, 2006. "Probabilistic Sustainability of Public Debt: A Vector Autoregression Approach for Brazil, Mexico, and Turkey," IMF Working Papers 2006/295, International Monetary Fund.
    16. Sakuragawa, Masaya & Hosono, Kaoru, 2011. "Fiscal sustainability in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 25(4), pages 434-446.
    17. Viviane Luporini, 2014. "Sustainability Of Brazilian Fiscalpolicy, Once Again: Corrective Policy Response Over Time," Anais do XL Encontro Nacional de Economia [Proceedings of the 40th Brazilian Economics Meeting] 064, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    18. Safdar Ullah Khan & Omar Farooq Saqib, 2008. "An Analysis of Pakistan's Vulnerability to Crisis," SBP Working Paper Series 21, State Bank of Pakistan, Research Department.
    19. -, 2008. "Public debt sustainability in the Caribbean," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 38710, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    20. Garcia, Carlos J. & Restrepo, Jorge E. & Tanner, Evan, 2011. "Fiscal rules in a volatile world: A welfare-based approach," Journal of Policy Modeling, Elsevier, vol. 33(4), pages 649-676, July.
    21. Ohnsorge, Franziska & Kose, M. Ayhan & Sugawara, Naotaka, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," CEPR Discussion Papers 14439, Centre for Economic Policy Research.
    22. Jean-Marc Fournier, 2019. "A Buffer-Stock Model for the Government: Balancing Stability and Sustainability," IMF Working Papers 2019/159, International Monetary Fund.
    23. Ovalle, Raul & Ramírez, Francisco A., 2014. "Reglas versus Discreción en la Política Fiscal: Introducción al caso Dominicano [Rules vs Discretion in Fiscal Policy: An Introduction to the Case of the Dominican Republic]," MPRA Paper 68332, University Library of Munich, Germany.
    24. Ignacio Lozano-Espitia & Jesus Bejarano Fernando Arias-Rodr�guez & Clark Granger-Casta�o Andres Gonzalez & Yurany Hern�ndez-Turca Franz Hamann & Martha L�pez Juan Manuel Julio-Rom�n & Jorge Enrique Ra, 2019. "La política fiscal y la estabilización macroeconómica en Colombia," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, issue 90, pages 1-60.
    25. Lassila, Jukka & Valkonen, Tarmo & Alho, Juha M., 2011. "Fiscal sustainability and policy rules under changing demographic forecasts," Discussion Papers 1265, The Research Institute of the Finnish Economy.
    26. António Afonso & João Jalles, 2014. "A longer-run perspective on fiscal sustainability," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 41(4), pages 821-847, November.
    27. Hernando Vargas-Herrera & Juan Jose Ospina & Jose Vicente Romero, 2022. "The Covid-19 shock and the monetary policy response in Colombia," BIS Papers chapters, in: Bank for International Settlements (ed.), The monetary-fiscal policy nexus in the wake of the pandemic, volume 122, pages 79-114, Bank for International Settlements.
    28. Enrique G. Mendoza & P. Marcelo Oviedo, 2006. "Fiscal Policy and Macroeconomic Uncertainty in Developing Countries: The Tale of the Tormented Insurer," NBER Working Papers 12586, National Bureau of Economic Research, Inc.
    29. George Kopits & Benno Ferrarini & Arief Ramayandi, 2016. "Exploring Risk-Adjusted Fiscal Sustainability Analysis for Asian Economies," ADB Economics Working Paper Series 483, Asian Development Bank.
    30. Flores Prieto, Pedro & Fullerton, Thomas M., Jr. & Andrade Olivas, Cesar, 2007. "Evidencia empirica sobre deuda externa, inversion, y crecimiento en Mexico, 1980-2003 [Empirical evidence on foreign debt, investment, and growth in Mexico, 1980-2003]," MPRA Paper 9497, University Library of Munich, Germany, revised Apr 2007.
    31. Hoi Wai Jackie Cheng & Ingo Pitterle, 2018. "Towards a more comprehensive assessment of fiscal space," Working Papers 153, United Nations, Department of Economics and Social Affairs.
    32. Safdar Ullah Khan & Omar Farooq Saqib, 2007. "An Analysis of Pakistan s Vulnerability to Economic Crisis," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 597-610.
    33. guo, Min & zhao, jizhi & huang, yixuan, 2014. "国家债务适度规模研究 —基于因子增强阈值模型 [a Study of Moderate Scale of Public Debt - Based on Factor-Augmented Threshold Model]," MPRA Paper 56067, University Library of Munich, Germany.
    34. Khansa Zaman & Muhammad Saeed Rana & Umer Iftikhar, 2019. "A Multilevel Analysis of Job Demands and Intention to Resign Through Perceived Service Recovery Performance," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 67-82, June.
    35. Valerie Lankester-Campos & Kerry Loaiza-Marín & Carlos Monge-Badilla, 2020. "Assessing public debt sustainability for Costa Rica using the fiscal reaction function," Documentos de Trabajo 2005, Banco Central de Costa Rica.
    36. Diego Valderrama, 2005. "Fiscal sustainability and contingent liabilities from recent credit expansions in South Korea and Thailand," Economic Review, Federal Reserve Bank of San Francisco, pages 29-41.
    37. Alfonso Mendoza-Velazquez & Heidi J. Smith & Diego Mendoza-Martinez, 2022. "Subnational Regional Growth, Debt Thresholds and Sustainability," Working Paper Series Sobre México 2022001, Sobre México. Temas en economía.
    38. Gustavo Adler & Sebastian Sosa, 2016. "External Factors in Debt Sustainability Analysis: An Application to Latin America?," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(5), pages 81-120, June.
    39. Cruz-Rodríguez, Alexis, 2014. "Assessing fiscal sustainability in some selected countries," MPRA Paper 54975, University Library of Munich, Germany.
    40. Juan C. Méndez-Vizcaíno & Nicolás Moreno-Arias, 2021. "A Global Shock with Idiosyncratic Pains: State-Dependent Debt Limits for LATAM during the COVID-19 pandemic," Borradores de Economia 1175, Banco de la Republica de Colombia.
    41. Sassire Napo, 2022. "Assessing public debt sustainability under COVID‐19 uncertainty: Evidence from Côte d'Ivoire," African Development Review, African Development Bank, vol. 34(S1), pages 141-160, July.
    42. Alex Mandilaras & Graham Bird, 2008. "Foreign exchange pressures in Latin America: does debt matter?," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(5), pages 613-627.
    43. Nimai Das, 2013. "Subnational-level Fiscal Health Stability and sustainability implications for Kerala, Punjab, and West Bengal," IEG Working Papers 329, Institute of Economic Growth.
    44. Muhammad Jalib Sikandar & Fazale Wahid, 2019. "Debt and Economic Growth of Pakistan; Role of Uncertain Economic and Political Conditions," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 83-106, June.
    45. Tomaselli, Andrés & Villena, Mauricio G. & Gamboni, Cristóbal, 2018. "Fiscal sustainability and the cyclically adjusted balance policy: methodology and analysis for Chile," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    46. William Easterly, 2012. "The Role of Growth Slowdowns and Forecast Errors in Public Debt Crises," NBER Chapters, in: Fiscal Policy after the Financial Crisis, pages 151-173, National Bureau of Economic Research, Inc.
    47. Valentinyi, Ákos & Pápa, Levente, 2008. "Költségvetési fenntarthatóság [Budget sustainability]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 395-426.

  56. Enrique G. Mendoza & P. Marcelo Oviedo, 2006. "Fiscal Policy and Macroeconomic Uncertainty in Emerging Markets: The Tale of the Tormented Insurer," 2006 Meeting Papers 377, Society for Economic Dynamics.

    Cited by:

    1. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    2. Diego Valderrama & Katherine Smith, 2009. "Why Do Emerging Economies Import Direct Investment and Export Savings? A Story of Financial Underdevelopment," 2009 Meeting Papers 1160, Society for Economic Dynamics.
    3. Galego Mendes,Arthur & Pennings,Steven Michael, 2020. "One Rule Fits All ? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can BePersistent: Theory and Evidence," Policy Research Working Paper Series 9400, The World Bank.
    4. Juan Equiza Goni, 2014. "Sovereign Debt in the U.S. and Growth Expectations," Working Papers ECARES ECARES 2014-25, ULB -- Universite Libre de Bruxelles.
    5. Warmedinger, Thomas & Checherita-Westphal, Cristina & Drudi, Francesco & Setzer, Ralph & De Stefani, Roberta & Bouabdallah, Othman & Westphal, Andreas, 2017. "Debt sustainability analysis for euro area sovereigns: a methodological framework," Occasional Paper Series 185, European Central Bank.
    6. António Afonso & José Alves & Olegs Matvejevs & Olegs Tkacevs, 2024. "Impact of Sovereign Debt Maturity on Fiscal Sustainability," Working Papers REM 2024/0358, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    7. Levy, Antoine & Ricci, Luca Antonio & Werner, Alejandro, 2020. "The Sources of Fiscal Fluctuations," CEPR Discussion Papers 15450, Centre for Economic Policy Research.
    8. -, 2008. "Public debt sustainability in the Caribbean," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 38710, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

  57. Enrique G. Mendoza, 2005. "Sudden Stops in an Equilibrium Business Cycle Model with Credit Constraints: A Fisherian Deflation of Tobin's Q," 2005 Meeting Papers 307, Society for Economic Dynamics.

    Cited by:

    1. Daniel, Betty C. & Jones, John Bailey, 2007. "Financial liberalization and banking crises in emerging economies," Journal of International Economics, Elsevier, vol. 72(1), pages 202-221, May.
    2. Nir Jaimovich & Sergio Rebelo, 2007. "News and Business Cycles in Open Economies," NBER Working Papers 13444, National Bureau of Economic Research, Inc.
    3. Magud, Nicolas E., 2010. "Currency mismatch, openness and exchange rate regime choice," Journal of Macroeconomics, Elsevier, vol. 32(1), pages 68-89, March.
    4. Hostland, Doug & Karam, Philippe, 2006. "Assessing debt sustainability in emerging market economies using stochastic simulation methods," Policy Research Working Paper Series 3821, The World Bank.
    5. Samuel Malone, 2005. "Managing Default Risk for Commodity Dependent Countries: Price Hedging in an Optimizing Model," Economics Series Working Papers 246, University of Oxford, Department of Economics.
    6. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2005. "Sudden stops and output drops," Staff Report 353, Federal Reserve Bank of Minneapolis.
    7. Ms. Ana L Fostel & Sandeep Kapur & Mr. Luis Catão, 2007. "Persistent Gaps, Volatility Types, and Default Traps," IMF Working Papers 2007/148, International Monetary Fund.
    8. Galina Hale & Assaf Razin & Hui Tong, 2007. "Credit Constraints and Stock Price Volatility," NBER Working Papers 13089, National Bureau of Economic Research, Inc.
    9. Durdu, Ceyhun Bora & Mendoza, Enrique G., 2006. "Are asset price guarantees useful for preventing Sudden Stops?: A quantitative investigation of the globalization hazard-moral hazard tradeoff," Journal of International Economics, Elsevier, vol. 69(1), pages 84-119, June.
    10. Barrail, Zulma, 2020. "Business cycle implications of rising household credit market participation in emerging countries," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    11. Vasco Cúrdia, 2005. "Monetary Policy under Sudden Stops," International Finance 0510025, University Library of Munich, Germany, revised 19 Dec 2005.
    12. Razin, Assaf & Hale, Galina & Tong, Hui, 2007. "Creditor Protection and Stock Price Volatility," CEPR Discussion Papers 6540, Centre for Economic Policy Research.
    13. Otsu Keisuke, 2010. "A Neoclassical Analysis of the Asian Crisis: Business Cycle Accounting for a Small Open Economy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-39, July.
    14. Laura Alfaro & Fabio Kanczuk, 2007. "Optimal Reserve Management and Sovereign Debt," Working Paper Series 2007-29, Federal Reserve Bank of San Francisco.
    15. Razin, Assaf & Hale, Galina & Tong, Hui, 2006. "Institutional Weakness and Stock Price Volatility," CEPR Discussion Papers 5651, Centre for Economic Policy Research.
    16. Martin, Philippe & Rey, Hélène, 2005. "Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 5165, Centre for Economic Policy Research.
    17. Enrique G. Mendoza, 2006. "Lessons from the Debt-Deflation Theory of Sudden Stops," American Economic Review, American Economic Association, vol. 96(2), pages 411-416, May.
    18. Guillermo A. Calvo, 2005. "Crises in Emerging Market Economies: A Global Perspective," NBER Working Papers 11305, National Bureau of Economic Research, Inc.

  58. Bora Durdu & Enrique G. Mendoza, 2004. "Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees," Working Paper Series 2004-33, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Enrique G. Mendoza & Katherine A. Smith, 2004. "Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices," NBER Working Papers 10940, National Bureau of Economic Research, Inc.
    2. Ashot Tsharakyan & Martin Janíčko, 2010. "The Binding Credit Constraints and the Welfare Effects of Housing Price Appreciation," Prague Economic Papers, Prague University of Economics and Business, vol. 2010(4), pages 359-382.

  59. Enrique G. Mendoza & Linda L. Tesar, 2004. "Winners and Losers of Tax Competition in the European Union," Working Papers 508, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Liontos, George & Philippopoulos, Apostolis, 2023. "Who benefits from international fiscal cooperation? The role of cross-country asymmetries," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    2. Sokolovskyi, Dmytro, 2020. "Is Race to the bottom is modeled as Prisoner's dilemma?," MPRA Paper 99404, University Library of Munich, Germany.
    3. Sokolovskyi, Dmytro, 2021. "Is tax competition necessarily a Race to the bottom? Optimal tax rate trajectories in the model of tax competition for different objective functions," MPRA Paper 109284, University Library of Munich, Germany.
    4. Günther Rehme, 2007. "Economic Growth and (Re-)Distributive Policies in a Non-cooperative World," Journal of Economics, Springer, vol. 91(1), pages 1-40, May.

  60. P. Marcelo Oviedo & Enrique Mendoza, 2004. "Public Debt, Fiscal Solvency, and Macroeconomic Uncertainty in Emerging Markets: The Tale of the Tormented Insurer," Econometric Society 2004 North American Summer Meetings 647, Econometric Society.

    Cited by:

    1. Eduardo Levy Yeyati & Federico Sturzenegger, 2007. "A Balance-Sheet Approach to Fiscal Sustainability," CID Working Papers 150, Center for International Development at Harvard University.
    2. Warmedinger, Thomas & Checherita-Westphal, Cristina & Drudi, Francesco & Setzer, Ralph & De Stefani, Roberta & Bouabdallah, Othman & Westphal, Andreas, 2017. "Debt sustainability analysis for euro area sovereigns: a methodological framework," Occasional Paper Series 185, European Central Bank.
    3. Fatih AKBAYIR & Ahmet Burçin YERELİ, 2019. "Estimating Fiscal Space: The Theoretical Framework of Ostry et al. Approach," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(39).
    4. Hostland, Doug & Karam, Philippe, 2006. "Assessing debt sustainability in emerging market economies using stochastic simulation methods," Policy Research Working Paper Series 3821, The World Bank.
    5. Fabrizio Coricelli, 2005. "Design and Implementation of the Stability and Growth Pact: The Perspective of New Member States," CASE Network Studies and Analyses 0304, CASE-Center for Social and Economic Research.
    6. Ovalle, Raul & Ramírez, Francisco A., 2014. "Reglas versus Discreción en la Política Fiscal: Introducción al caso Dominicano [Rules vs Discretion in Fiscal Policy: An Introduction to the Case of the Dominican Republic]," MPRA Paper 68332, University Library of Munich, Germany.
    7. Mr. Philippe D Karam & Mr. Douglas Hostland, 2006. "Specification of a Stochastic Simulation Model for Assessing Debt Sustainability in Emerging Market Economies," IMF Working Papers 2006/268, International Monetary Fund.
    8. Tari Lestari, 2014. "Can Indonesia’s Fiscal Policy be Sustained, with Exploding Debt?," Working Papers in Economics and Development Studies (WoPEDS) 201415, Department of Economics, Padjadjaran University, revised Nov 2014.
    9. Enrique G. Mendoza & P. Marcelo Oviedo, 2004. "Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia, Costa Rica, and Mexico," NBER Working Papers 10637, National Bureau of Economic Research, Inc.
    10. Humberto Mora, 2004. "Assessing Fiscal Sustainability with Alternative Methodologies," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 22(46-1), pages 82-145.
    11. Ianchovichina, Elena & Liu, Lili & Nagarajan, Mohan, 2006. "Subnational fiscal sustainability analysis : what can we learn from Tamil Nadu ?," Policy Research Working Paper Series 3947, The World Bank.
    12. Wright, Allan & Ramirez, Francisco A., 2017. "What are the Fiscal Limits for the Developing Economies of Central America and the Caribbean?," IDB Publications (Working Papers) 8269, Inter-American Development Bank.

  61. Marcelo Oviedo & Enrique G. Mendoza, 2004. "Public Debt, Fiscal Solvency & Macroeconomic Uncertainty in Emerging Markets: The Tale of the Tormented Insurer," 2004 Meeting Papers 14, Society for Economic Dynamics.

    Cited by:

    1. Warmedinger, Thomas & Checherita-Westphal, Cristina & Drudi, Francesco & Setzer, Ralph & De Stefani, Roberta & Bouabdallah, Othman & Westphal, Andreas, 2017. "Debt sustainability analysis for euro area sovereigns: a methodological framework," Occasional Paper Series 185, European Central Bank.
    2. Fatih AKBAYIR & Ahmet Burçin YERELİ, 2019. "Estimating Fiscal Space: The Theoretical Framework of Ostry et al. Approach," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(39).
    3. Eduardo Levy Yeyati & Federico Sturzenegger, 2023. "A balance‐sheet approach to fiscal sustainability," Fiscal Studies, John Wiley & Sons, vol. 44(1), pages 61-84, March.
    4. Fabrizio Coricelli, 2005. "Design and Implementation of the Stability and Growth Pact: The Perspective of New Member States," CASE Network Studies and Analyses 0304, CASE-Center for Social and Economic Research.
    5. Philipp Paulus, 2006. "The final blow to the Stability Pact? EMU enlargement and government debt," Otto-Wolff-Institut Discussion Paper Series 03/2006, Otto-Wolff-Institut für Wirtschaftsordnung, Köln, Deutschland.
    6. Ovalle, Raul & Ramírez, Francisco A., 2014. "Reglas versus Discreción en la Política Fiscal: Introducción al caso Dominicano [Rules vs Discretion in Fiscal Policy: An Introduction to the Case of the Dominican Republic]," MPRA Paper 68332, University Library of Munich, Germany.
    7. Tari Lestari, 2014. "Can Indonesia’s Fiscal Policy be Sustained, with Exploding Debt?," Working Papers in Economics and Development Studies (WoPEDS) 201415, Department of Economics, Padjadjaran University, revised Nov 2014.
    8. Enrique G. Mendoza & P. Marcelo Oviedo, 2004. "Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia, Costa Rica, and Mexico," NBER Working Papers 10637, National Bureau of Economic Research, Inc.
    9. Ianchovichina, Elena & Liu, Lili & Nagarajan, Mohan, 2006. "Subnational fiscal sustainability analysis : what can we learn from Tamil Nadu ?," Policy Research Working Paper Series 3947, The World Bank.
    10. Wright, Allan & Ramirez, Francisco A., 2017. "What are the Fiscal Limits for the Developing Economies of Central America and the Caribbean?," IDB Publications (Working Papers) 8269, Inter-American Development Bank.

  62. Enrique G. Mendoza & Katherine A. Smith, 2004. "Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices," NBER Working Papers 10940, National Bureau of Economic Research, Inc.

    Cited by:

    1. Francisco Gallego & José Tessada, 2010. "Sudden Stops, Financial Frictions, and Labor Market Flows: Evidence from Latin America," Working Papers ClioLab 10, EH Clio Lab. Instituto de Economía. Pontificia Universidad Católica de Chile.
    2. Emine Boz, 2006. "Can Miracles Lead to Crises? An Informational Frictions Explanation of Emerging Markets Crises," Computing in Economics and Finance 2006 19, Society for Computational Economics.
    3. Diego Valderrama & Katherine Smith, 2009. "Why Do Emerging Economies Import Direct Investment and Export Savings? A Story of Financial Underdevelopment," 2009 Meeting Papers 1160, Society for Economic Dynamics.
    4. Bertrand Gruss & Silvia Sgherri, 2009. "The Volatility Costs of Procyclical Lending Standards: An Assessment Using a DSGE Model," Economics Working Papers ECO2009/07, European University Institute.
    5. Mariam Camarero & María Dolores Gadea-Rivas & Ana Gómez-Loscos & Cecilio Tamarit, 2019. "External imbalances and recoveries," Working Papers 1912, Department of Applied Economics II, Universidad de Valencia.
    6. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    7. Markus K. Brunnermeier & Yuliy Sannikov, 2016. "The I Theory of Money," NBER Working Papers 22533, National Bureau of Economic Research, Inc.
    8. Olivier Jeanne & Anton Korinek, 2010. "Managing Credit Booms and Busts: A Pigouvian Taxation Approach," NBER Working Papers 16377, National Bureau of Economic Research, Inc.
    9. Mr. Enrique G. Mendoza & Javier Bianchi, 2011. "Overborrowing, Financial Crises and ‘Macro-prudential’ Policy," IMF Working Papers 2011/024, International Monetary Fund.
    10. Piergiorgio Alessandri & Haroon Mumtaz, 2014. "Financial regimes and uncertainty shocks," BCAM Working Papers 1404, Birkbeck Centre for Applied Macroeconomics.
    11. Yue Zhao, 2013. "Financial shocks in Japan : A case for a small open economy," KIER Working Papers 849, Kyoto University, Institute of Economic Research.
    12. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    13. Sutherland, Alan & Senay, Ozge, 2016. "Country Portfolios, Collateral Constraints and Optimal Monetary Policy," CEPR Discussion Papers 11499, Centre for Economic Policy Research.
    14. Pierri, Damian Rene & Montes Rojas, Gabriel & Mira, José, 2020. "Persistent current account deficits and balance of payments crises," UC3M Working papers. Economics 34239, Universidad Carlos III de Madrid. Departamento de Economía.
    15. Serdar Kabaca, 2011. "Labor Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing," Koç University-TUSIAD Economic Research Forum Working Papers 1122, Koc University-TUSIAD Economic Research Forum.
    16. Enrique Mendoza & Sergio Villalvazo, 2020. "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 81-102, July.
    17. Javier G�mez Pineda, 2004. "A Framework for Macroeconomic Stability in Emerging Market Economies," Borradores de Economia 1915, Banco de la Republica.
    18. Vincenzo Quadrini & Enrique G. Mendoza, 2010. "Financial Globalization, Financial Crises and Contagion," 2010 Meeting Papers 841, Society for Economic Dynamics.
    19. Kehoe, Timothy J. & Ruhl, Kim J., 2009. "Sudden stops, sectoral reallocations, and the real exchange rate," Journal of Development Economics, Elsevier, vol. 89(2), pages 235-249, July.
    20. Urban Jermann & Vincenzo Quadrini, 2006. "Financial Innovations and Macroeconomic Volatility," NBER Working Papers 12308, National Bureau of Economic Research, Inc.
    21. Daniel, Betty C. & Jones, John Bailey, 2007. "Financial liberalization and banking crises in emerging economies," Journal of International Economics, Elsevier, vol. 72(1), pages 202-221, May.
    22. Philippe Martin & Thomas Philippon, 2014. "Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone," NBER Working Papers 20572, National Bureau of Economic Research, Inc.
    23. Ozge Akinci & Ryan Chahrour, 2014. "Good News is Bad News: Leverage Cycles and Sudden Stops," Boston College Working Papers in Economics 866, Boston College Department of Economics, revised 30 Apr 2015.
    24. Douglas Sutherland & Peter Hoeller & Rossana Merola & Volker Ziemann, 2012. "Debt and Macroeconomic Stability," OECD Economics Department Working Papers 1003, OECD Publishing.
    25. Andrew Binning & Junior Maih, 2017. "Modelling Occasionally Binding Constraints Using Regime-Switching," Working Papers No 9/2017, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    26. Petra Gerlach-Kristen & Rossana Merola, 2019. "Consumption and credit constraints: a model and evidence from Ireland," Empirical Economics, Springer, vol. 57(2), pages 475-503, August.
    27. Mendicino, Caterina, 2008. "On the amplification role of collateral constraints," MPRA Paper 9425, University Library of Munich, Germany.
    28. Douglas Sutherland & Peter Hoeller, 2012. "Debt and Macroeconomic Stability: An Overview of the Literature and Some Empirics," OECD Economics Department Working Papers 1006, OECD Publishing.
    29. Michael B Devereux & James Yetman, 2010. "Financial deleveraging and the international transmission of shocks," BIS Papers chapters, in: Bank for International Settlements (ed.), The international financial crisis and policy challenges in Asia and the Pacific, volume 52, pages 274-298, Bank for International Settlements.
    30. Villalvazo, Sergio, 2024. "FDI flows and sudden stops in small open economies," Journal of Macroeconomics, Elsevier, vol. 79(C).
    31. Ms. Emine Boz, 2007. "Can Miracles Lead to Crises? the Role of Optimism in Emerging Markets Crises," IMF Working Papers 2007/223, International Monetary Fund.
    32. Gaël Giraud & Antonin Pottier, 2012. "Debt-Deflation versus the Liquidity Trap: The Dilemma of Nonconventional Monetary Policy," Documents de travail du Centre d'Economie de la Sorbonne 12064, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    33. Mendoza, Enrique & Boz, Emine, 2010. "Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis," CEPR Discussion Papers 7967, Centre for Economic Policy Research.
    34. Acosta-Henao, Miguel & Alfaro, Laura & Fernández, Andrés, 2025. "Sticky capital controls," Journal of International Economics, Elsevier, vol. 157(C).
    35. Enrique G. Mendoza & Katherine A. Smith, 2014. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(1), pages 20-57, January.
    36. Antón, Arturo & Leal, Julio, 2013. "Aggregate Effects of a Universal Social Insurance Fiscal Reform," IDB Publications (Working Papers) 4580, Inter-American Development Bank.
    37. Javier Guillermo G�mez, 2006. "Capital Flows and Monetary Policy," Borradores de Economia 2097, Banco de la Republica.
    38. Enrique G. Mendoza, 2008. "Sudden Stops, Financial Crises and Leverage: A Fisherian Deflation of Tobin's Q," NBER Working Papers 14444, National Bureau of Economic Research, Inc.
    39. Li Lin & Dimitrios P. Tsomocos & Alexandros Vardoulakis, 2014. "Debt Deflation Effects of Monetary Policy," Finance and Economics Discussion Series 2014-37, Board of Governors of the Federal Reserve System (U.S.).
    40. Emine Boz & Christian Daude & C. Bora Durdu, 2011. "Emerging Market Business Cycles Revisited: Learning about the Trend," Koç University-TUSIAD Economic Research Forum Working Papers 1110, Koc University-TUSIAD Economic Research Forum.
    41. Enrique G. Mendoza, 2010. "Sudden Stops, Financial Crises, and Leverage," American Economic Review, American Economic Association, vol. 100(5), pages 1941-1966, December.
    42. Mr. Fabian Valencia, 2008. "Banks’ Precautionary Capital and Persistent Credit Crunches," IMF Working Papers 2008/248, International Monetary Fund.
    43. Gaël Giraud, 2012. "Coherent Multidimensional Poverty Measurement," Documents de travail du Centre d'Economie de la Sorbonne 12095, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    44. Singh, Rajesh & Hasan, Mohammad, 2023. "Cross-country Spillovers in Interbank Liquidity Crises," ISU General Staff Papers 202311011603320000, Iowa State University, Department of Economics.
    45. Michael M. Hutchison & Ilan Noy & Lidan Wang, 2007. "Fiscal and Monetary Policies and the Cost of Sudden Stops," Working Papers 200724, University of Hawaii at Manoa, Department of Economics.
    46. Martinez, Joseba & Sihvonen, Markus, 2019. "Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets," CEPR Discussion Papers 14220, Centre for Economic Policy Research.
    47. Mr. Enrique G. Mendoza & Ceyhun Bora Durdu, 2006. "Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff," IMF Working Papers 2006/073, International Monetary Fund.
    48. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
    49. Claudio Raddatz & Sergio L. Schmukler, 2012. "On the International Transmission of Shocks: Micro – Evidence From Mutual Fund Portfolios," Working Papers Central Bank of Chile 668, Central Bank of Chile.
    50. Aleksander Berentsen & Samuel Huber & Alessandro Marchesiani, 2012. "Degreasing the wheels of finance," ECON - Working Papers 101, Department of Economics - University of Zurich.
    51. Luigi Bocola & Guido Lorenzoni, 2017. "Financial Crises, Dollarization, and Lending of Last Resort in Open Economies," NBER Working Papers 23984, National Bureau of Economic Research, Inc.
    52. Enrique G. Mendoza, 2006. "Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints:A Fisherian Deflation of Tobin's Q," NBER Working Papers 12564, National Bureau of Economic Research, Inc.
    53. Ambrogio Cesa-Bianchi & Mr. Alessandro Rebucci, 2015. "Does Easing Monetary Policy Increase Financial Instability?," IMF Working Papers 2015/139, International Monetary Fund.
    54. Tommaso Trani, 2011. "Trade in secured debt, adjustment in haircuts and international portfolios," IHEID Working Papers 13-2011, Economics Section, The Graduate Institute of International Studies.
    55. Ms. Emine Boz & Ceyhun Bora Durdu & Ms. Nan Li, 2012. "Emerging Market Business Cycles: The Role of Labor Market Frictions," IMF Working Papers 2012/237, International Monetary Fund.
    56. Tommaso Trani, 2012. "Funding under Borrowing Limits in International Portfolios," IHEID Working Papers 01-2012, Economics Section, The Graduate Institute of International Studies, revised 14 Feb 2012.
    57. Woon Gyu Choi & Mr. David Cook, 2010. "Fire Sales and the Financial Accelerator," IMF Working Papers 2010/141, International Monetary Fund.
    58. Kim, Sangho & Lim, Hyunjoon & Park, Donghyun, 2010. "Productivity and Employment in a Developing Country: Some Evidence from Korea," World Development, Elsevier, vol. 38(4), pages 514-522, April.
    59. Mr. Alexander Culiuc, 2020. "Real Exchange Rate Overshooting in Large Depreciations: Determinants and Consequences," IMF Working Papers 2020/060, International Monetary Fund.
    60. Pierri, Damián & Montes-Rojas, Gabriel & Mira-Llambi, Pablo, 2023. "Persistent external deficits and balance of payments crises," European Economic Review, Elsevier, vol. 159(C).
    61. Sudipto Bhattacharya & Charles A.E. Goodhart & Dimitrios P. Tsomocos & Alexandros P. Vardoulakis, 2015. "A Reconsideration of Minsky's Financial Instability Hypothesis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(5), pages 931-973, August.
    62. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    63. Smith, Katherine A. & Valderrama, Diego, 2009. "The composition of capital inflows when emerging market firms face financing constraints," Journal of Development Economics, Elsevier, vol. 89(2), pages 223-234, July.
    64. Chakraborty, Suparna, 2009. "Modeling sudden stops: The non-trivial role of preference specifications," Economics Letters, Elsevier, vol. 104(1), pages 1-4, July.
    65. Martinez, Joseba & Philippon, Thomas & Sihvonen, Markus, 2022. "Does a currency union need a capital market union?," Journal of International Economics, Elsevier, vol. 139(C).
    66. Betty Daniel, 2008. "Private Sector Risk and Financial Crises in Emerging Markets," Discussion Papers 08-10, University at Albany, SUNY, Department of Economics.
    67. Enrique G. Mendoza, 2017. "Política macroprudencial: promesas y desafíos," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(2), pages 042-088, August.
    68. Yannick Kalantzis, 2014. "Financial fragility in small open economies: firm balance sheets and the sectoral structure," Working papers 505, Banque de France.
    69. Quadrini, Vincenzo & Jermann, Urban, 2009. "Macroeconomic Effects of Financial Shocks," CEPR Discussion Papers 7451, Centre for Economic Policy Research.
    70. Devereux, Michael B. & Sutherland, Alan, 2011. "Evaluating international financial integration under leverage constraints," European Economic Review, Elsevier, vol. 55(3), pages 427-442, April.
    71. Cowan, Kevin & Raddatz, Claudio, 2013. "Sudden stops and financial frictions: Evidence from industry-level data," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 99-128.
    72. Ester Faia & Eleni Iliopulos, 2010. "Financial Globalization, Financial Frictions and Optimal Monetary Policy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00497486, HAL.
    73. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    74. Arana, Rumile & Ramirez, Francisco A. & Wright, Allan, 2017. "Credit Risks and Monetary Policy within Caribbean Economies," IDB Publications (Working Papers) 8268, Inter-American Development Bank.
    75. Koehler-Geib, Friederike Norma, 2008. "The Effect of Uncertainty on the Occurrence and Spread of Financial Crises," Munich Dissertations in Economics 8067, University of Munich, Department of Economics.
    76. Mendoza, Enrique G. & Smith, Katherine A., 2006. "Quantitative implications of a debt-deflation theory of Sudden Stops and asset prices," Journal of International Economics, Elsevier, vol. 70(1), pages 82-114, September.
    77. Damián Pierri & Gabriel Montes Rojas & Pablo Mira Lambi, 2019. "The Empirical Dimension of Overborrowing," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2019-45, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    78. Shen, Hewei, 2022. "Financial integration and the correlation between international debt and equity flows," Journal of International Money and Finance, Elsevier, vol. 122(C).
    79. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520, Elsevier.
    80. Can Sever, 2016. "Contagion: Recent Models in International Finance Literature," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 5(2), pages 59-66, June.
    81. Javier Bianchi & Enrique G. Mendoza, 2010. "Overborrowing, financial crises and ‘macro-prudential’ taxes," Proceedings, Federal Reserve Bank of San Francisco, issue Oct.
    82. Chakraborty, Suparna, 2006. "Amplifying Business Cycles through Credit Constraints," MPRA Paper 1808, University Library of Munich, Germany.
    83. Michael B. Devereux & James Yetman, 2010. "Leverage Constraints and the International Transmission of Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 71-105, September.
    84. Enrique G. Mendoza & Katherine A. Smith, 2013. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," NBER Working Papers 19072, National Bureau of Economic Research, Inc.
    85. Smets, Frank & Collard, Fabrice & Boissay, Frédéric, 2013. "Booms and systemic banking crises," Working Paper Series 1514, European Central Bank.
    86. Keiichiro Kobayashi & Masaru Inaba, 2006. ""Irrational exuberance" in the Pigou cycle under collateral constraints," Discussion papers 06015, Research Institute of Economy, Trade and Industry (RIETI).
    87. Ester Faia, 2007. "Welfare Implications of Capital Account Liberalization," CEIS Research Paper 92, Tor Vergata University, CEIS.
    88. Francis E. Warnock & Veronica Cacdac Warnock, 2006. "International Capital Flows and U.S. Interest Rates," NBER Working Papers 12560, National Bureau of Economic Research, Inc.
    89. Enrique Mendoza & Javier Bianchi, 2015. "Optimal Time-Consistent Macroprudential Policy," 2015 Meeting Papers 289, Society for Economic Dynamics.
    90. Bank for International Settlements, 2021. "Assessing the impact of Basel III: Evidence from macroeconomic models: literature review and simulations," BCBS Working Papers 38, Bank for International Settlements.
    91. Katherine A. Smith & Enrique G. Mendoza, 2011. "Financial Globalization, Financial Crisis, and the External Capital Structure of Emerging Markets," 2011 Meeting Papers 235, Society for Economic Dynamics.
    92. Jahan-Parvar, Mohammad R. & Liu, Xuan & Rothman, Philip, 2009. "Equity Returns and Business Cycles in Small Open Economies," MPRA Paper 15915, University Library of Munich, Germany.
    93. Guido Sandleris & Mark L.J. Wright, 2011. "The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis," NBER Working Papers 17552, National Bureau of Economic Research, Inc.
    94. Villalvazo, Sergio, 2026. "Inequality and asset prices during Sudden Stops," Journal of Monetary Economics, Elsevier, vol. 157(C).
    95. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Managing Capital Flows in the Presence of External Risks," International Finance Discussion Papers 1213, Board of Governors of the Federal Reserve System (U.S.).
    96. Keiichiro Kobayashi & Masaru Inaba, 2006. "Borrowing constraints and protracted recessions," Discussion papers 06011, Research Institute of Economy, Trade and Industry (RIETI).
    97. Yue ZHAO, 2013. "Role of Financial and Productivity Shocks in the US and Japan: A Two-Country Economy," KIER Working Papers 881, Kyoto University, Institute of Economic Research.
    98. Enrique G. Mendoza, 2005. "Sudden Stops in an Equilibrium Business Cycle Model with Credit Constraints: A Fisherian Deflation of Tobin's Q," 2005 Meeting Papers 307, Society for Economic Dynamics.
    99. Awijen, Haithem & Hammami, Sami, 2017. "Financial frictions and regime switching: The role of collateral asset in emerging stock market," Economics Discussion Papers 2017-6, Kiel Institute for the World Economy.
    100. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126.
    101. Katherine A. Smith, 2011. "Can Financing Constraints Explain The Asset Pricing Puzzles In Production Economies?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(3), pages 739-765, August.
    102. Uluc Aysun & Adam Honig, 2008. "Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops," Working papers 2008-41, University of Connecticut, Department of Economics.
    103. Feng, Ling & Lin, Ching-Yi, 2013. "Financial shocks and exports," International Review of Economics & Finance, Elsevier, vol. 26(C), pages 39-55.
    104. Martin, Philippe & Rey, Hélène, 2005. "Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 5165, Centre for Economic Policy Research.
    105. Emine Boz, 2005. "Do Miracles Lead to Crises?: An Informational Frictions Explanation to Emerging Market Financial Crises," 2005 Meeting Papers 496, Society for Economic Dynamics.
    106. João Barata Ribeiro Blanco Barroso, 2012. "Optimal Capital Flow Taxes in Latin America," Working Papers Series 268, Central Bank of Brazil, Research Department.
    107. Liu, Xuan, 2007. "Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction," MPRA Paper 18260, University Library of Munich, Germany, revised 26 Oct 2009.
    108. Joyce, Joseph P. & Nabar, Malhar, 2009. "Sudden stops, banking crises and investment collapses in emerging markets," Journal of Development Economics, Elsevier, vol. 90(2), pages 314-322, November.
    109. Brinca, Pedro & Costa-Filho, João & Loria, Francesca, 2020. "Business Cycle Accounting: what have we learned so far?," MPRA Paper 100180, University Library of Munich, Germany.
    110. Mertens, Karel, 2007. "The Role of Expectations in Sudden Stops," Working Papers 07-10, Cornell University, Center for Analytic Economics.
    111. Oliver de Groot & C. Bora Durdu & Enrique G. Mendoza, 2024. "Why Global and Local Solutions of Open-Economy Models with Incomplete Markets Differ and Why it Matters," PIER Working Paper Archive 24-037, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    112. de Groot, Oliver & Durdu, C. Bora & Mendoza, Enrique G., 2025. "Why global and local solutions of open-economy models with incomplete markets differ and why it matters," Journal of International Economics, Elsevier, vol. 158(C).
    113. Chen, Fengxian & Feng, Wenhua & Dong, Jingyi & Wang, Yuan, 2025. "The sudden stops of international capital flows and corporate financing constraints——An empirical analysis based on global listed companies," Journal of International Money and Finance, Elsevier, vol. 158(C).
    114. Trani, Tommaso, 2015. "Asset pledgeability and international transmission of financial shocks," Journal of International Money and Finance, Elsevier, vol. 50(C), pages 49-77.

  63. Enrique G. Mendoza & Linda L. Tesar, 2003. "A Quantitative Analysis of Tax Competition v. Tax Coordination under Perfect Capital Mobility," Working Papers 507, Research Seminar in International Economics, University of Michigan.

    Cited by:

    1. Alexandre A. Porsse & Eduardo A. Haddad & Eduardo P. Ribeiro, 2006. "Modeling Interjurisdictional Tax Competition In A Federal System," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 54, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    2. Herzog, Bodo, 2006. "Coordination of fiscal and monetary policy in CIS-countries: A theory of optimum fiscal area?," Research in International Business and Finance, Elsevier, vol. 20(2), pages 256-274, June.
    3. Desai, Mihir A. & Foley, C. Fritz & Hines, James Jr., 2006. "Do tax havens divert economic activity?," Economics Letters, Elsevier, vol. 90(2), pages 219-224, February.
    4. Danuše Nerudová & Svatopluk Kapounek & Jitka Poměnková, 2007. "Tax Competition in the European Union and Its Influence on the Shift in the Tax Burden [Daňová soutěž v Evropské měnové unii a její vliv na přesun daňového břemene]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2007(2), pages 55-72.
    5. Huizinga, Harry & Nielsen, Søren Bo, 2004. "Must losing taxes on saving be harmful?," Working Papers 15-2004, Copenhagen Business School, Department of Economics.
    6. Enrique G. Mendoza & Linda L. Tesar, 2003. "Winners and Losers of Tax Competition in the European Union," NBER Working Papers 10051, National Bureau of Economic Research, Inc.
    7. Sokolovskyi, Dmytro, 2020. "Is Race to the bottom is modeled as Prisoner's dilemma?," MPRA Paper 99404, University Library of Munich, Germany.
    8. Sokolovskyi, Dmytro, 2021. "Is tax competition necessarily a Race to the bottom? Optimal tax rate trajectories in the model of tax competition for different objective functions," MPRA Paper 109284, University Library of Munich, Germany.
    9. Coenen, Günter & McAdam, Peter & Straub, Roland, 2008. "Tax reform and labour-market performance in the euro area: A simulation-based analysis using the New Area-Wide Model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2543-2583, August.
    10. Günther Rehme, 2007. "Economic Growth and (Re-)Distributive Policies in a Non-cooperative World," Journal of Economics, Springer, vol. 91(1), pages 1-40, May.
    11. Souleymane COULIBALY, 2008. "Empirical Assessment of the Existence of Taxable Agglomeration Rents," Cahiers de Recherches Economiques du Département d'économie 08.01, Université de Lausanne, Faculté des HEC, Département d’économie.
    12. Dimitris Papageorgiou, 2009. "Macroeconomic Implications of Alternative Tax Regimes: The Case of Greece," Working Papers 97, Bank of Greece.
    13. Eva de Francisco, 2005. "Limited Participation, Income Distribution and Capital-Account Liberalization: Working Paper 2005-02," Working Papers 16302, Congressional Budget Office.
    14. Eva de Francisco, 2005. "Limited Participation, Income Distribution and Capital Account Liberalization," Computing in Economics and Finance 2005 454, Society for Computational Economics.
    15. Quadrini, Vincenzo & Ríos-Rull, José-Víctor, 2024. "International tax competition with rising intangible capital and financial globalization," Journal of Monetary Economics, Elsevier, vol. 141(C), pages 101-120.

  64. Enrique G. Mendoza & Katherine A. Smith, 2002. "Margin Calls, Trading Costs, and Asset Prices in Emerging Markets: The Finanical Mechanics of the 'Sudden Stop' Phenomenon," NBER Working Papers 9286, National Bureau of Economic Research, Inc.

    Cited by:

    1. Daniel Levy & Tamir Mayer & Alon Raviv, 2022. "Economists in the 2008 Financial Crisis: Slow to See, Fast to Act," Working Papers 2022-01, Bar-Ilan University, Department of Economics.
    2. Bora Durdu & Enrique G. Mendoza, 2004. "Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees," Working Paper Series 2004-33, Federal Reserve Bank of San Francisco.
    3. Michael B. Devereux & Doris Poon, 2011. "Monetary Policy in Economic Crises: A Simple Model of Policy with External Financial Constraints," International Economic Journal, Taylor & Francis Journals, vol. 25(4), pages 683-711, December.
    4. Javier G�mez Pineda, 2004. "A Framework for Macroeconomic Stability in Emerging Market Economies," Borradores de Economia 1915, Banco de la Republica.
    5. Martin, Philippe & Rey, Hélène, 2002. "Financial Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 3378, Centre for Economic Policy Research.
    6. Lawrence J. Christiano & Christopher J. Gust & Jorge E. Roldós, 2002. "Monetary policy in a financial crisis," Working Papers (Old Series) 0204, Federal Reserve Bank of Cleveland.
    7. Haibin Zhu, 2003. "Credit constraints, financial liberalisation and twin crises," BIS Working Papers 124, Bank for International Settlements.
    8. Enrique Mendoza, 2002. "Why Should Emerging Economies Give Up National Currencies? A Case for Institutions Substitution," Research Department Publications 4309, Inter-American Development Bank, Research Department.
    9. Fricke, Hans & Süssmuth, Bernd, 2013. "Growth and volatility of tax revenues in Latin America," Working Papers 124, University of Leipzig, Faculty of Economics and Management Science.
    10. Ran Bi, 2008. ""Beneficial" Delays in Debt Restructuring Negotiations," 2008 Meeting Papers 766, Society for Economic Dynamics.
    11. Hutchison, Michael M. & Noy, Ilan, 2004. "Sudden Stops and the Mexican Wave: Currency Crises, Capital Flow Reversals and Output Loss in Emerging Markets," Santa Cruz Center for International Economics, Working Paper Series qt38j2b036, Center for International Economics, UC Santa Cruz.
    12. C. Bora Durdu, 2006. "Quantitative Implications of Indexed Bonds in Small Open Economies: Working Paper 2006-12," Working Papers 18245, Congressional Budget Office.
    13. Javier Guillermo G�mez, 2006. "Capital Flows and Monetary Policy," Borradores de Economia 2097, Banco de la Republica.
    14. Alvaro Aguirre & César Calderón, 2005. "Financial Frictions and Real Devaluations," Working Papers Central Bank of Chile 318, Central Bank of Chile.
    15. Rigobon, Roberto & Pavlova, Anna, 2008. "The Role of Portfolio Constraints in the International Propagation of Shocks," CEPR Discussion Papers 6647, Centre for Economic Policy Research.
    16. Ran Bi, 2008. "“Beneficial” Delays in Debt Restructuring Negotiations," IMF Working Papers 2008/038, International Monetary Fund.
    17. Malgorzata Sulimierska, 2008. "The Theoretical Link Between Capital Account Liberalization and Currency Crisis Episodes," International Trade and Finance Association Conference Papers 1111, International Trade and Finance Association.
    18. Hélène Rey & Philippe Martin, 2006. "Globalization and Emerging Markets: With or Without Crash?," American Economic Review, American Economic Association, vol. 96(5), pages 1631-1651, December.
    19. Mario Crucini, 2012. "Comparing General and Partial Equilibrium Approaches to the Study of Real Business Cycles," 2012 Meeting Papers 1057, Society for Economic Dynamics.
    20. Enrique Mendoza, 2002. "¿Por qué deben las economías emergentes renunciar a su moneda nacional? El argumento a favor," Research Department Publications 4310, Inter-American Development Bank, Research Department.
    21. Pablo Andrés Neumeyer & Fabrizio Perri, 2004. "Business cycles in emerging economies: the role of interest rates," Staff Report 335, Federal Reserve Bank of Minneapolis.
    22. Alejandro Izquierdo & Jacques Morriset & Marcelo Olarreaga, 2003. "Information Diffusion in International Markets," Research Department Publications 4335, Inter-American Development Bank, Research Department.
    23. Saubhik Deb, 2006. "Output Growth, Capital Flow Reversals and Sudden stop Crises," Departmental Working Papers 200606, Rutgers University, Department of Economics.
    24. Malgorzata Sulimierska, 2008. "Capital Account Liberalization and Currency Crisis - The Case of Central Eastern European Countries," International Trade and Finance Association Conference Papers 1140, International Trade and Finance Association.
    25. Alejandro Izquierdo & Ernesto Talvi & Guillermo A Calvo, 2006. "Phoenix miracles in emerging markets: recovering without credit from systemic financial crises," BIS Working Papers 221, Bank for International Settlements.
    26. Cristina Arellano & Enrique G. Mendoza, 2002. "Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises," NBER Working Papers 8880, National Bureau of Economic Research, Inc.
    27. Rachel Male, 2010. "Developing Country Business Cycles: Characterising the Cycle," Working Papers 663, Queen Mary University of London, School of Economics and Finance.
    28. Franz Hamann, 2002. "Sovereign Risk And Real Business Cycles In A Small Open Economic," Borradores de Economia 3521, Banco de la Republica.
    29. Sandoval Paucar, Giovanny, 2019. "Modelación de la correlación condicional para el mercado bursátil colombiano: una aplicación de DCC – MGARCH [Modeling of the conditional correlation for the Colombian stock market: a DCC application - MGARCH]," MPRA Paper 92534, University Library of Munich, Germany, revised 04 Mar 2019.
    30. Bora Durdu, 2007. "Quantitative implications of indexed bonds in small open economies," International Finance Discussion Papers 909, Board of Governors of the Federal Reserve System (U.S.).
    31. Michele Cavallo & Kate Kisselev & Fabrizio Perri & Nouriel Roubini, 2004. "Exchange rate overshooting and the costs of floating," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    32. Cowan, Kevin & Raddatz, Claudio, 2013. "Sudden stops and financial frictions: Evidence from industry-level data," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 99-128.
    33. Vasco Cúrdia, 2005. "Monetary Policy under Sudden Stops," International Finance 0510025, University Library of Munich, Germany, revised 19 Dec 2005.
    34. Richard E. Ericson & Xuan Liu, 2012. "Welfare effect of interest rate shocks and policy implications," Applied Financial Economics, Taylor & Francis Journals, vol. 22(22), pages 1899-1917, November.
    35. Franz Hamann, 2002. "Sovereign Risk and Macroeconomic Fluctuations," Borradores de Economia 3520, Banco de la Republica.
    36. Kathryn M.E. Dominguez & Linda L. Tesar, 2004. "International Borrowing and Macroeconomic Performance in Argentina," Working Papers 532, Research Seminar in International Economics, University of Michigan.
    37. Yazdani, Mahdi & Daryani, Elmira, 2021. "Output Loss from Sudden Stop of FDI and the Role of Macroeconomic Policies," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 16(2), pages 213-236, June.
    38. Luis-Felipe Zanna, 2006. "Fighting against currency depreciation, macroeconomic instability and sudden stops," International Finance Discussion Papers 848, Board of Governors of the Federal Reserve System (U.S.).
    39. Hewei Shen, 2016. "Financial Crises and the Role of Debt Maturity for Emerging Economies," CAEPR Working Papers 2017-012, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    40. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Managing Capital Flows in the Presence of External Risks," International Finance Discussion Papers 1213, Board of Governors of the Federal Reserve System (U.S.).
    41. Alejandro Izquierdo & Jacques Morriset & Marcelo Olarreaga, 2003. "Difusión de la información en mercados internacionales," Research Department Publications 4336, Inter-American Development Bank, Research Department.
    42. Cerda, Rodrigo & Vergara, Rodrigo, 2007. "Unemployment insurance in Chile: Does it stabilize the business cycle?," Journal of Policy Modeling, Elsevier, vol. 29(3), pages 473-488.
    43. Sau Lino, 2004. "La deflazione da debiti di Irving Fisher nell'era della globalizzazione," CESMEP Working Papers 200405, University of Turin.
    44. Liu, Xuan, 2007. "Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction," MPRA Paper 18260, University Library of Munich, Germany, revised 26 Oct 2009.
    45. Wen Yao, 2012. "International Business Cycles and Financial Frictions," Staff Working Papers 12-19, Bank of Canada.
    46. Sandoval Paucar, Giovanny, 2018. "Contagio Financiero: Una Breve Revisión De Literatura [Financial Contagio: A Review Literature]," MPRA Paper 89554, University Library of Munich, Germany.
    47. Anna Pavlova & Roberto Rigobon, 2005. "Wealth Transfers, Contagion, and Portfolio Constraints," NBER Working Papers 11440, National Bureau of Economic Research, Inc.
    48. C. Bora Durdu, 2006. "Are Indexed Bonds a Remedy for Sudden Stops?," Computing in Economics and Finance 2006 11, Society for Computational Economics.
    49. Ricardo Caballero & César Calderón & Luis Felipe Céspedes, 2006. "External Vulnerability and Preventive Policies: An Overview," Central Banking, Analysis, and Economic Policies Book Series, in: Ricardo Caballero & César Calderón & Luis Felipe Céspedes & Norman Loayza (Series Editor) & Klaus Sc (ed.),External Vulnerability and Preventive Policies, edition 1, volume 10, chapter 1, pages 001-014, Central Bank of Chile.

  65. Mendoza, Enrique G., 2002. "Why Should Emerging Economies Give Up National Currencies?: A Case for "Institutions Substitution"," IDB Publications (Working Papers) 1912, Inter-American Development Bank.

    Cited by:

    1. Philip R. Lane, 2003. "Business Cycles and Macroeconomic Policy in Emerging Market Economies," Trinity Economics Papers 20032, Trinity College Dublin, Department of Economics.
    2. Brahima Coulibaly, 2012. "Monetary policy in emerging market economies: what lessons from the global financial crisis?," International Finance Discussion Papers 1042, Board of Governors of the Federal Reserve System (U.S.).
    3. G.M. Wessels, 2004. "The Suitability Of Dollarisation As An Exchange Rate Regime For South Africa1," South African Journal of Economics, Economic Society of South Africa, vol. 72(2), pages 324-348, June.
    4. Roberto Duncan, 2003. "Floating, Official Dollarization, and Macroeconomic Volatility:An Analysis for the Chilean Economy," Working Papers Central Bank of Chile 249, Central Bank of Chile.
    5. Jeffrey A. Frankel & Shang-Jin Wei, 2004. "Managing Macroeconomic Crises," NBER Working Papers 10907, National Bureau of Economic Research, Inc.
    6. Bod, Péter Ákos & Neszmélyi, György Iván, 2024. "A nyugat-balkáni térség és az euróövezet "nem szokványos" kiterjesztése [The Western Balkans and the unconventional" expansion of the euro area]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 807-832.
    7. César Calderón & Roberto Duncan & Klaus Schmidt-Hebbel, 2012. "Do good institutions promote counter-cyclical macroeconomic policies?," Globalization Institute Working Papers 118, Federal Reserve Bank of Dallas.
    8. César Calderón & Roberto Duncan & Klaus Schmidt-Hebbel., 2010. "Institutions and Cyclical Properties of Macroeconomic Policies in the Global Economy," Documentos de Trabajo 372, Instituto de Economia. Pontificia Universidad Católica de Chile..
    9. César Calderón & Roberto Duncan & Klaus Schmidt-Hebbel, 2003. "The Role of Credibility in the Cyclical Properties of Macroeconomic Policies in Emerging Economies," Working Papers Central Bank of Chile 237, Central Bank of Chile.
    10. Rajesh Singh & Chetan Subramanian, 2009. "Temporary Stabilizations, Sudden Stops, and Asset Prices," Review of Development Economics, Wiley Blackwell, vol. 13(2), pages 333-347, May.
    11. Cruz Rodriguez, Alexis, 2009. "Choosing and assessing exchange rate regimes: A survey of the literature," MPRA Paper 16314, University Library of Munich, Germany.
    12. Roberto Duncan, 2003. "Exploring the Implications of Official Dollarization on Macroeconomic Volatility," Working Papers Central Bank of Chile 200, Central Bank of Chile.
    13. Svitlana Maksymenko, 2015. "The Cost of Euro Adoption in Poland," Working Paper 5779, Department of Economics, University of Pittsburgh.
    14. Bod Péter Ákos & Neszmélyi György Iván, 2025. "Benign Neglect or Institutionalisation? Dealing with de facto Euroisation in Candidate Countries," Intereconomics: Review of European Economic Policy, Paradigm, vol. 60(2), pages 107-113.
    15. Philipp Paulus, 2004. "The fiscal stability impact of monetary unions - looking beneath the Stability Pact debate," Otto-Wolff-Institut Discussion Paper Series 05/2004, Otto-Wolff-Institut für Wirtschaftsordnung, Köln, Deutschland.
    16. Fabrizio Onida, 2004. "Crescita e vincolo esterno: quali strategie per promuovere stabilità macroeconomica, competitività e investimenti," KITeS Working Papers 157, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Jul 2004.

  66. Arellano, Cristina & Mendoza, Enrique G., 2002. "Credit Frictions and "Sudden Stop" in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises," IDB Publications (Working Papers) 1440, Inter-American Development Bank.

    Cited by:

    1. YAMADA, Haruna, 2023. "Financial Integration, Excess Consumption Volatility, and the World Real Interest Rate," Discussion paper series HIAS-E-133, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    2. Li, Shuyun May & Dressler, Scott, 2011. "Business cycle asymmetry via occasionally binding international borrowing constraints," Journal of Macroeconomics, Elsevier, vol. 33(1), pages 33-41, March.
    3. Neaime Simon, 2005. "Financial Market Integration and Macroeconomic Volatility in the MENA Region: An Empirical Investigation," Review of Middle East Economics and Finance, De Gruyter, vol. 3(3), pages 59-83, December.
    4. Romain Houssa & Jolan Mohimont & Chris Otrok, 2019. "A Model for International Spillovers to Emerging Markets," CESifo Working Paper Series 7702, CESifo.
    5. Laura Alfaro & Fabio Kanczuk, 2007. "Optimal Reserve Management and Sovereign Debt," NBER Working Papers 13216, National Bureau of Economic Research, Inc.
    6. Javier G�mez Pineda, 2004. "A Framework for Macroeconomic Stability in Emerging Market Economies," Borradores de Economia 1915, Banco de la Republica.
    7. Gente, Karine & León-Ledesma, Miguel A. & Nourry, Carine, 2015. "External constraints and endogenous growth: Why didn't some countries benefit from capital flows?," Journal of International Money and Finance, Elsevier, vol. 56(C), pages 223-249.
    8. Ayelen Banegas, 2016. "Predictability of Growth in Emerging Markets: Information in Financial Aggregates," International Finance Discussion Papers 1174, Board of Governors of the Federal Reserve System (U.S.).
    9. Gopinath, Gita, 2003. "Lending Booms, Sharp Reversals and Real Exchange Rate Dynamics," Scholarly Articles 11988005, Harvard University Department of Economics.
    10. Radovan Vadovic, 2009. "Early, Late, and Multiple Bidding in Internet Auctions," Working Papers 0904, Centro de Investigacion Economica, ITAM.
    11. Vines, David & Kuralbayeva, Karlygash, 2006. "Terms of Trade Shocks in an Intertemporal Model: Should We Worry about the Dutch Disease or Excessive Borrowing?," CEPR Discussion Papers 5857, Centre for Economic Policy Research.
    12. Petra Gerlach-Kristen & Rossana Merola, 2019. "Consumption and credit constraints: a model and evidence from Ireland," Empirical Economics, Springer, vol. 57(2), pages 475-503, August.
    13. Enrique G. Mendoza & Katherine A. Smith, 2004. "Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices," NBER Working Papers 10940, National Bureau of Economic Research, Inc.
    14. Zhao, Yan, 2013. "Borrowing constraints and the trade balance–output comovement," Economic Modelling, Elsevier, vol. 32(C), pages 34-41.
    15. Enrique Mendoza, 2002. "Why Should Emerging Economies Give Up National Currencies? A Case for Institutions Substitution," Research Department Publications 4309, Inter-American Development Bank, Research Department.
    16. Mirela Sorina Miescu, 2016. "IMF Programs and Sensitivity to External Shocks: An Empirical Application," Working Papers 791, Queen Mary University of London, School of Economics and Finance.
    17. Hutchison, Michael M. & Noy, Ilan, 2004. "Sudden Stops and the Mexican Wave: Currency Crises, Capital Flow Reversals and Output Loss in Emerging Markets," Santa Cruz Center for International Economics, Working Paper Series qt38j2b036, Center for International Economics, UC Santa Cruz.
    18. Martin Uribe & Vivian Z. Yue, 2004. "Country spreads and emerging countries: who drives whom?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    19. Mr. Marco Terrones & Mr. Eswar S Prasad & Mr. Ayhan Kose, 2003. "Financial Integration and Macroeconomic Volatility," IMF Working Papers 2003/050, International Monetary Fund.
    20. Lim, G.C. & McNelis, Paul D., 2008. "Computational Macroeconomics for the Open Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262123061, December.
    21. Choi, Woon Gyu & Cook, David, 2004. "Liability dollarization and the bank balance sheet channel," Journal of International Economics, Elsevier, vol. 64(2), pages 247-275, December.
    22. Cook, David & Devereux, Michael B., 2006. "External currency pricing and the East Asian crisis," Journal of International Economics, Elsevier, vol. 69(1), pages 37-63, June.
    23. Rebucci, Alessandro & Benigno, Gianluca & Otrok, Christopher & Chen, Huigang & Young, Eric, 2011. "Financial Crisis and Macro-Prudential Policies," CEPR Discussion Papers 8175, Centre for Economic Policy Research.
    24. Michael M. Hutchison & Ilan Noy & Lidan Wang, 2007. "Fiscal and Monetary Policies and the Cost of Sudden Stops," Working Papers 200724, University of Hawaii at Manoa, Department of Economics.
    25. Mark Aguiar & Gita Gopinath, 2004. "Emerging Market Business Cycles: The Cycle is the Trend," NBER Working Papers 10734, National Bureau of Economic Research, Inc.
    26. Leblebicioglu, AslI, 2009. "Financial integration, credit market imperfections and consumption smoothing," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 377-393, February.
    27. Hostland, Doug & Karam, Philippe, 2006. "Assessing debt sustainability in emerging market economies using stochastic simulation methods," Policy Research Working Paper Series 3821, The World Bank.
    28. Loayza, Norman V. & Raddatz, Claudio, 2006. "The structural determinants of external vulnerability," Policy Research Working Paper Series 4089, The World Bank.
    29. Mario Crucini, 2012. "Comparing General and Partial Equilibrium Approaches to the Study of Real Business Cycles," 2012 Meeting Papers 1057, Society for Economic Dynamics.
    30. Enrique Mendoza, 2002. "¿Por qué deben las economías emergentes renunciar a su moneda nacional? El argumento a favor," Research Department Publications 4310, Inter-American Development Bank, Research Department.
    31. Yuan, Shenguo & Wu, Zhouheng, 2021. "Financial openness and Chinese regional growth imbalance: New insight from spatial spillovers," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    32. Mandelman, Federico S., 2013. "Monetary and exchange rate policy under remittance fluctuations," Journal of Development Economics, Elsevier, vol. 102(C), pages 128-147.
    33. Akiko Terada-hagiwara, 2005. "Explaining the Real Exchange Rate during Sudden Stops and Tranquil Periods," International Finance 0504006, University Library of Munich, Germany.
    34. Ramos Francia Manuel & Cuadra Gabriel & Capistrán Carlos, 2011. "Policy Response to External Shocks: Lessons from the Crisis," Working Papers 2011-14, Banco de México.
    35. Ricardo Caballero & Stavros Panageas, 2005. "A Quantitative Model of Sudden Stops and External Liquidity Management," NBER Working Papers 11293, National Bureau of Economic Research, Inc.
    36. Sumru Altug & Melike Bildirici, 2010. "Business Cycles around the Globe: A Regime Switching Approach," Koç University-TUSIAD Economic Research Forum Working Papers 1009, Koc University-TUSIAD Economic Research Forum.
    37. Franz Hamann, 2002. "Sovereign Risk And Real Business Cycles In A Small Open Economic," Borradores de Economia 3521, Banco de la Republica.
    38. Oviedo, P. Marcelo, 2005. "World Interest Rate, Business Cycles, and Financial Intermediation in Small Open Economies," Staff General Research Papers Archive 12360, Iowa State University, Department of Economics.
    39. Durdu, Ceyhun Bora & Mendoza, Enrique G., 2006. "Are asset price guarantees useful for preventing Sudden Stops?: A quantitative investigation of the globalization hazard-moral hazard tradeoff," Journal of International Economics, Elsevier, vol. 69(1), pages 84-119, June.
    40. Michele Cavallo & Kate Kisselev & Fabrizio Perri & Nouriel Roubini, 2004. "Exchange rate overshooting and the costs of floating," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    41. Vasco Cúrdia, 2005. "Monetary Policy under Sudden Stops," International Finance 0510025, University Library of Munich, Germany, revised 19 Dec 2005.
    42. Carlos Esteban Posada Posada & Wilman G�mez, 2004. "Un choque del activo externo neto y el ciclo econ�mico Colombiano 1994-2001," Borradores de Economia 3674, Banco de la Republica.
    43. Karlygash Kuralbayeva & David Vines, 2008. "Shocks to Terms of Trade and Risk-premium in an Intertemporal Model: The Dutch Disease and a Dutch Party," Open Economies Review, Springer, vol. 19(3), pages 277-303, July.
    44. Franz Hamann, 2002. "Sovereign Risk and Macroeconomic Fluctuations," Borradores de Economia 3520, Banco de la Republica.
    45. Heymann, Daniel, 2007. "Macroeconomics of broken promises," Documentos de Proyectos 3557, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    46. Cuadra, Gabriel & Sapriza, Horacio, 2008. "Sovereign default, interest rates and political uncertainty in emerging markets," Journal of International Economics, Elsevier, vol. 76(1), pages 78-88, September.
    47. Acosta, Pablo A. & Lartey, Emmanuel K.K. & Mandelman, Federico S., 2009. "Remittances and the Dutch disease," Journal of International Economics, Elsevier, vol. 79(1), pages 102-116, September.
    48. Enrique G. Mendoza, 2005. "Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies," NBER Working Papers 11691, National Bureau of Economic Research, Inc.
    49. Oskolkov, Aleksei & Sorá, Marcos, 2023. "Macroprudential policy for internal financial dollarization," Journal of International Economics, Elsevier, vol. 145(C).
    50. Thomas Drechsel, 2018. "Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations," 2018 Papers pdr141, Job Market Papers.
    51. Wilman Gómez & Carlos Esteban Posada, 2004. "Un "Choque" del Activo Externo Neto y el Ciclo Económico Colombiano," Borradores de Economia 285, Banco de la Republica de Colombia.
    52. Guillermo A. Calvo & Alejandro Izquierdo & Luis Fernando Mejía, 2004. "On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects," Research Department Publications 4367, Inter-American Development Bank, Research Department.
    53. Awijen, Haithem & Hammami, Sami, 2017. "Financial frictions and regime switching: The role of collateral asset in emerging stock market," Economics Discussion Papers 2017-6, Kiel Institute for the World Economy.
    54. Sandra Lizarazo, 2009. "Default Risk and Risk Averse International Investors," Working Papers 0907, Centro de Investigacion Economica, ITAM.
    55. André Marine Charlotte & Medina Espidio Sebastián, 2022. "Optimal Robust Monetary Policy in a Small Open Economy," Working Papers 2022-17, Banco de México.
    56. Kurmas Akdogan, 2010. "Foreign Exchange Reserves in a Credit Constrained Economy," Birkbeck Working Papers in Economics and Finance 1014, Birkbeck, Department of Economics, Mathematics & Statistics.
    57. Uluc Aysun & Adam Honig, 2008. "Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops," Working papers 2008-41, University of Connecticut, Department of Economics.
    58. Martin, Philippe & Rey, Hélène, 2005. "Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 5165, Centre for Economic Policy Research.
    59. Enrique G. Mendoza, 2006. "Lessons From the Debt-Deflation Theory of Sudden Stops," NBER Working Papers 11966, National Bureau of Economic Research, Inc.
    60. Baranov, Igor N. & Castro, P. C. & Micic, D. & Salgado, G. B., 2013. "Fiscal Impulse during the 2008 Crisis," Working Papers 809, Graduate School of Management, St. Petersburg State University.
    61. Diego Valderrama, 2002. "The Impact of Financial Frictions on a Small Open Economy: When Current Account Borrowing Hits a Limit," Working Paper Series 2002-15, Federal Reserve Bank of San Francisco.
    62. Ms. Pritha Mitra, 2006. "Post-Crisis Recovery: When Does Increased Fiscal Discipline Work?," IMF Working Papers 2006/219, International Monetary Fund.
    63. Karlygash Kuralbayeva, 2007. "Inflation persistence: Implications for a design of monetary policy in a small open economy subject to external shocks," CEIS Research Paper 93, Tor Vergata University, CEIS.
    64. Enrico Vasconcelos & Maria Cristina Terra, 2008. "Trade Openness Effect in Sudden Stops," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807211046210, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    65. Joyce, Joseph P. & Nabar, Malhar, 2009. "Sudden stops, banking crises and investment collapses in emerging markets," Journal of Development Economics, Elsevier, vol. 90(2), pages 314-322, November.
    66. José Sidaoui & Manuel Ramos-Francia & Gabriel Cuadra, 2011. "Global liquidity, capital flows and challenges for policymakers: the Mexican experience," BIS Papers chapters, in: Bank for International Settlements (ed.), Capital flows, commodity price movements and foreign exchange intervention, volume 57, pages 239-260, Bank for International Settlements.
    67. Richard H. Clarida & Ildikó Magyari, 2016. "International Financial Adjustment in a Canonical Open Economy Growth Model," NBER Working Papers 22758, National Bureau of Economic Research, Inc.
    68. International Monetary Fund, 2007. "Vulnerabilities in Emerging Southeastern Europe—How Much Cause for Concern?," IMF Working Papers 2007/236, International Monetary Fund.
    69. Leonardo Barreto, 2018. "Nonconventional monetary policy in a regime-switching model with endogenous financial crises," Documentos CEDE 16382, Universidad de los Andes, Facultad de Economía, CEDE.
    70. Enrique G. Mendoza & Ceyhun Bora Durdu, 2004. "Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees," NBER Working Papers 10790, National Bureau of Economic Research, Inc.
    71. David Cook & Michael B. Devereux, 2004. "Dollar Bloc or Dollar Block: External Currency Pricing and the East Asian Crisis," Working Paper Series 2004-35, Federal Reserve Bank of San Francisco.

  67. Enrique G. Mendoza, 2001. "The International Macroeconomics of Taxation and the Case Against European Tax Harmonization," NBER Working Papers 8217, National Bureau of Economic Research, Inc.

    Cited by:

    1. Séverine MENGUY, 2019. "Does public indebtedness constrain or can it favor economic growth? A simple analytical modeling," Bulletin of Applied Economics, Risk Market Journals, vol. 6(2), pages 1-29.
    2. Zodrow, George R, 2003. "Tax Competition and Tax Coordination in the European Union," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 10(6), pages 651-671, November.
    3. Thierry Warin, 2005. "A Note on the Anglo-Saxon and Continental Approaches to Europe: Identical in Spirit, not in Practice," Middlebury College Working Paper Series 0509r, Middlebury College, Department of Economics.
    4. Ayoki, Milton, 2017. "Estimating the Revenue Impacts of Tax Harmonisation," MPRA Paper 83548, University Library of Munich, Germany.
    5. Faik Koray & K. Peren Arin, 2006. "International Transmission of Fiscal Shocks: An Empirical Investigation," Departmental Working Papers 2006-03, Department of Economics, Louisiana State University.
    6. Budryte, Alge, 2005. "Corporate income taxation in Lithuania in the context of the EU," Research in International Business and Finance, Elsevier, vol. 19(2), pages 200-228, June.
    7. Thierry Warin & André Fourçans, 2006. "Tax Competition and Information Sharing in Europe: A Signaling Game," Middlebury College Working Paper Series 0605, Middlebury College, Department of Economics.
    8. Sorensen, Peter Birch, 2004. "International tax coordination: regionalism versus globalism," Journal of Public Economics, Elsevier, vol. 88(6), pages 1187-1214, June.

  68. Enrique G. Mendoza, 2001. "Credit, Prices, and Crashes: Business Cycles with a Sudden Stop," NBER Working Papers 8338, National Bureau of Economic Research, Inc.

    Cited by:

    1. Young, Eric R., 2012. "Robust policymaking in the face of sudden stops," Journal of Monetary Economics, Elsevier, vol. 59(5), pages 512-527.
    2. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric Young, 2012. "Capital controls or exchange rate policy? a pecuniary externality perspective," Working Papers 2012-025, Federal Reserve Bank of St. Louis.
    3. Ajit Singh, 2003. "Capital Account Liberalization, Free Long-Term Capital Flows, Financial Crises and Economic Development," Eastern Economic Journal, Eastern Economic Association, vol. 29(2), pages 191-216, Spring.
    4. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
    5. Johannes Matschke, 2021. "Macroprudential Policy Interlinkages," Research Working Paper RWP 21-10, Federal Reserve Bank of Kansas City.
    6. Cristina Arellano & Enrique Mendoza, 2002. "Fricciones crediticias y 'paradas repentinas' en pequeñas economías abiertas: un marco de equilibrio del ciclo económico para crisis en mercados emergentes," Research Department Publications 4308, Inter-American Development Bank, Research Department.
    7. Herreño, Juan & Rondón-Moreno, Carlos, 2025. "Overborrowing and systemic externalities in the business cycle under imperfect information," Journal of International Economics, Elsevier, vol. 157(C).
    8. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    9. Mr. Enrique G. Mendoza & Javier Bianchi, 2011. "Overborrowing, Financial Crises and ‘Macro-prudential’ Policy," IMF Working Papers 2011/024, International Monetary Fund.
    10. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
    11. Korinek, Anton, 2011. "Foreign currency debt, risk premia and macroeconomic volatility," European Economic Review, Elsevier, vol. 55(3), pages 371-385, April.
    12. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2011. "Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective," Discussion Papers 1512, Centre for Macroeconomics (CFM), revised Feb 2015.
    13. Rebucci, Alessandro & Ma, Chang, 2019. "Capital Controls: A Survey of the New Literature," CEPR Discussion Papers 14186, Centre for Economic Policy Research.
    14. Fernando Arce & Julien Bengui & Javier Bianchi, 2019. "A Macroprudential Theory of Foreign Reserve Accumulation," Staff Working Papers 19-43, Bank of Canada.
    15. Norring, Anni, 2022. "Taming the tides of capital: Review of capital controls and macroprudential policy in emerging economies," BoF Economics Review 1/2022, Bank of Finland.
    16. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    17. Schmitt-Grohé, Stephanie & Uribe, Martín, 2016. "Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited," CEPR Discussion Papers 11623, Centre for Economic Policy Research.
    18. Frankel, Jeffrey & Cavallo, Eduardo, 2004. "Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, or Less? Using Gravity to Establish Causality," Working Paper Series rwp04-038, Harvard University, John F. Kennedy School of Government.
    19. Martin, Philippe & Rey, Hélène, 2002. "Financial Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 3378, Centre for Economic Policy Research.
    20. Eduardo A. Cavallo, 2006. "Trade, Gravity and Sudden Stops: On How Commercial Trade Can Increase the Stability of Capital Flows," Research Department Publications 4491, Inter-American Development Bank, Research Department.
    21. Gopinath, Gita, 2003. "Lending Booms, Sharp Reversals and Real Exchange Rate Dynamics," Scholarly Articles 11988005, Harvard University Department of Economics.
    22. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    23. Vines, David & Kuralbayeva, Karlygash, 2006. "Terms of Trade Shocks in an Intertemporal Model: Should We Worry about the Dutch Disease or Excessive Borrowing?," CEPR Discussion Papers 5857, Centre for Economic Policy Research.
    24. Claudia S. Gómez-López & Luis A. Puch, 2008. "Uso de Energía en Economías Exportadoras de Petróleo," Economic Reports 24-08, FEDEA.
    25. Durdu, Ceyhun Bora & Mendoza, Enrique G. & Terrones, Marco E., 2009. "Precautionary demand for foreign assets in Sudden Stop economies: An assessment of the New Mercantilism," Journal of Development Economics, Elsevier, vol. 89(2), pages 194-209, July.
    26. Arce, Fernando & Bengui, Julien & Bianchi, Javier, 2025. "Overborrowing, underborrowing, and macroprudential policy," Journal of Economic Theory, Elsevier, vol. 227(C).
    27. Zhao, Yan, 2013. "Borrowing constraints and the trade balance–output comovement," Economic Modelling, Elsevier, vol. 32(C), pages 34-41.
    28. Enrique Mendoza, 2002. "Why Should Emerging Economies Give Up National Currencies? A Case for Institutions Substitution," Research Department Publications 4309, Inter-American Development Bank, Research Department.
    29. Pasquale Filiani, 2022. "Macroprudential Debt-to-Income Ratio and Monetary Policy Rules," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 14(2), pages 161-198, June.
    30. J. Scott Davis & Michael B. Devereux & Changhua Yu, 2020. "Sudden Stops in Emerging Economies: The Role of World Interest Rates and Foreign Exchange Intervention," Globalization Institute Working Papers 405, Federal Reserve Bank of Dallas, revised 10 Sep 2021.
    31. Paul Maarek & Elsa Orgiazzi, 2013. "Currency Crises and the Labour Share," Economica, London School of Economics and Political Science, vol. 80(319), pages 566-588, July.
    32. Jeanne, Olivier & Rancière, Romain, 2008. "The Optimal Level of International Reserves For Emerging Market Countries: A New Formula and Some Applications," CEPR Discussion Papers 6723, Centre for Economic Policy Research.
    33. Acosta-Henao, Miguel & Alfaro, Laura & Fernández, Andrés, 2025. "Sticky capital controls," Journal of International Economics, Elsevier, vol. 157(C).
    34. Hao Jin & Hewei Shen, 2020. "Foreign Asset Accumulation among Emerging Market Economies: a Case for Coordination," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 35, pages 54-73, January.
    35. Carlos Viana de Carvalho & Eduardo Zilberman & Laura Candido de Souza & Nilda Mercedes Cabrera Pasca, 2014. "Macroeconomic Effects of Credit Deepening in Latin America," Textos para discussão 629, Department of Economics PUC-Rio (Brazil).
    36. Enrique G. Mendoza & Katherine A. Smith, 2014. "Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(1), pages 20-57, January.
    37. Hutchison, Michael M. & Noy, Ilan, 2004. "Sudden Stops and the Mexican Wave: Currency Crises, Capital Flow Reversals and Output Loss in Emerging Markets," Santa Cruz Center for International Economics, Working Paper Series qt38j2b036, Center for International Economics, UC Santa Cruz.
    38. Julien Bengui & Javier Bianchi, 2018. "Macroprudential Policy with Leakages," Working Papers 754, Federal Reserve Bank of Minneapolis.
    39. Soyoung Kim & Sunghyun H. Kim, 2013. "International Capital Flows, Boom-Bust Cycles, And Business Cycle Synchronization In The Asia Pacific Region," Contemporary Economic Policy, Western Economic Association International, vol. 31(1), pages 191-211, January.
    40. Suman S. Basu & Atish R. Ghosh & Jonathan D. Ostry & Pablo E. Winant, 2018. "Managing Capital Outflows with Limited Reserves," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(2), pages 333-374, June.
    41. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 498-527, August.
    42. Kapp, Daniel & Vega, Marco, 2012. "The Real Output Costs of Financial Crisis: A Loss Distribution Approach," Working Papers 2012-013, Banco Central de Reserva del Perú.
    43. Martin Uribe & Vivian Z. Yue, 2004. "Country spreads and emerging countries: who drives whom?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    44. Julian A. Parra-Polania & Carmiña O. Vargas, 2015. "Macroprudential vs. Ex-post Policy Interventions: when Domestic Taxes are Relevant for International Lenders," Borradores de Economia 879, Banco de la Republica de Colombia.
    45. Santiago Gutiérrez V. & Michel Formisano P., 2003. "La culpa es del Yankee: Correlaciones e ineficiencias en el mercado de dinero," Apuntes de Banca y Finanzas 2959, Asobancaria.
    46. Cook, David & Devereux, Michael B., 2006. "External currency pricing and the East Asian crisis," Journal of International Economics, Elsevier, vol. 69(1), pages 37-63, June.
    47. Rebucci, Alessandro & Benigno, Gianluca & Otrok, Christopher & Chen, Huigang & Young, Eric, 2011. "Financial Crisis and Macro-Prudential Policies," CEPR Discussion Papers 8175, Centre for Economic Policy Research.
    48. Liu, Siming, 2022. "Government spending during sudden stop crises," Journal of International Economics, Elsevier, vol. 135(C).
    49. Michael M. Hutchison & Ilan Noy & Lidan Wang, 2007. "Fiscal and Monetary Policies and the Cost of Sudden Stops," Working Papers 200724, University of Hawaii at Manoa, Department of Economics.
    50. Schmitt-Grohé, Stephanie & Uribe, Martín, 2019. "Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints," CEPR Discussion Papers 14248, Centre for Economic Policy Research.
    51. Pablo Winant & Jonathan Ostry & Atish Ghosh & Suman Basu, 2016. "Managing Capital Outflows: The Role of Foreign Exchange Intervention," 2016 Meeting Papers 756, Society for Economic Dynamics.
    52. Anton Korinek & Damiano Sandri, 2014. "Capital Controls or Macroprudential Regulation?," NBER Working Papers 20805, National Bureau of Economic Research, Inc.
    53. Malgorzata Sulimierska, 2008. "The Theoretical Link Between Capital Account Liberalization and Currency Crisis Episodes," International Trade and Finance Association Conference Papers 1111, International Trade and Finance Association.
    54. Magud, Nicolas E., 2010. "Currency mismatch, openness and exchange rate regime choice," Journal of Macroeconomics, Elsevier, vol. 32(1), pages 68-89, March.
    55. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric Young, 2013. "Capital Controls or Real Exchange Rate Policy? A Pecuniary Externality Perspective," Research Department Publications IDB-WP-393, Inter-American Development Bank, Research Department.
    56. Davis, J. Scott & Devereux, Michael B. & Yu, Changhua, 2023. "Sudden stops and optimal foreign exchange intervention," Journal of International Economics, Elsevier, vol. 141(C).
    57. Filippo Balestrieri & Mr. Suman S Basu, 2018. "An Imperfect Financial Union With Heterogeneous Regions," IMF Working Papers 2018/205, International Monetary Fund.
    58. Bianchi, Javier & Liu, Chenxin & Mendoza, Enrique G., 2016. "Fundamentals news, global liquidity and macroprudential policy," Journal of International Economics, Elsevier, vol. 99(S1), pages 2-15.
    59. Flora Lutz & Leopold Zessner-Spitzenberg, 2019. "Sudden Stops and Reserve Accumulation in the Presence of International Liquidity Risk," Vienna Economics Papers vie1907, University of Vienna, Department of Economics.
    60. Julian Parra-Polania & Carmiña Vargas, 2015. "Optimal tax on capital inflows discriminated by debt-risk profile," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 22(1), pages 102-119, February.
    61. C. Bora Durdu & Alex Martin & Ilknur Zer, 2020. "The Role of US Monetary Policy in Banking Crises Across the World," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(1), pages 66-107, March.
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    Cited by:

    1. Araújo, Aloísio Pessoa de & Leon, Márcia Saraiva, 2002. "Speculative attacks on debts, dollarization and optimum currency areas," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 446, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    2. Pavel Trunin & Sergey Narkevich, 2013. "Prospects for the Russian Ruble to Become Regional Reserve Currency," Working Papers 118, Gaidar Institute for Economic Policy, revised 2015.
    3. Álvaro Rojas O. & Felipe Jaque S., 2003. "Determinants of the Chilean Sovereign Spread: is it Purely Fundamentals?," Money Affairs, CEMLA, vol. 0(2), pages 137-163, July-Dece.
    4. Paasche, Bernhard, 2001. "Credit constraints and international financial crises," Journal of Monetary Economics, Elsevier, vol. 48(3), pages 623-650, December.
    5. Tamara Burdisso & Verónica Cohen Sabban & Laura D'Amato, 2003. "The Argentine Banking and Exchange Crisis of 2001: Can we Learn Something New About Financial Crisis?," Money Affairs, CEMLA, vol. 0(2), pages 89-136, July-Dece.
    6. Michael Kumhof, 2001. "A Critical View of Inflation Targeting: Crises, Limited Sustainability, and Aggregate Shocks," Working Papers Central Bank of Chile 127, Central Bank of Chile.
    7. Gerardo Licandro & José Antonio Licandro, 2003. "Building the Dedollarization Agenda: Lessons from the Uruguayan Case," Money Affairs, CEMLA, vol. 0(2), pages 193-218, July-Dece.
    8. Ahmet Faruk Aysan, 2007. "Exchange Rates, Stabilisation Policy and Redistribution of Income," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 1(3), pages 267-298, July.
    9. Aysan, Ahmet Faruk, 2006. "Distributional Effects of Boom-Bust Cycles in Developing Countries with Financial Frictions," MPRA Paper 5484, University Library of Munich, Germany.
    10. Artus P., 2001. "What Exchange - Rate System For Emerging Countries?," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 27-60, January -.
    11. Enrique G. Mendoza, 2000. "On the Instability of Variance Decompositions of the Real Exchange Rate across Exchange-Rate-Regimes: Evidence from Mexico and the United States," NBER Working Papers 7768, National Bureau of Economic Research, Inc.
    12. Craine, Roger, 2001. "Dollarization: An Irreversible Decision," Department of Economics, Working Paper Series qt404915zn, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    13. Alexander, Volbert & von Furstenberg, George M., 2000. "Monetary unions--a superior alternative to full dollarization in the long run," The North American Journal of Economics and Finance, Elsevier, vol. 11(2), pages 205-225, December.
    14. Ahmet Faruk Aysan, 2006. "The Role of Distribution of the Income Shares of Individuals in Tradables and Nontradables on Exchange Rate Fluctuations and Delay of Stabilizations," Working Papers 2006/11, Bogazici University, Department of Economics.
    15. Golec, Pascal & Perotti, Enrico, 2017. "Safe assets: a review," Working Paper Series 2035, European Central Bank.
    16. Patrick Artus, 2003. "Local Currency or Foreign Currency Debt?," Revue économique, Presses de Sciences-Po, vol. 54(5), pages 1013-1031.
    17. Frankel, Jeffrey A. & Mendoza, Enrique G., 2000. "Comments," LSE Research Online Documents on Economics 123378, London School of Economics and Political Science, LSE Library.
    18. Mr. Guillermo Calvo & Mr. Michael Kumhof & Oya Celasun, 2002. "Nominal Exchange Rate Anchoring Under Inflation Inertia," IMF Working Papers 2002/030, International Monetary Fund.
    19. Cruz-Rodríguez, Alexis, 2005. "¿Es la dolarización oficial una opción real para las economías emergentes? [Is Official Dollarization a real option for emerging countries?]," MPRA Paper 54353, University Library of Munich, Germany.
    20. Enrique Alberola & Luis Molina, 2003. "What Does Really Discipline Fiscal Policy in Emerging Markets?: the Role and Dynamics of Exchange Rate Regimes," Money Affairs, CEMLA, vol. 0(2), pages 165-192, July-Dece.
    21. Sergey Narkevich & Pavel Trunin, 2012. "Reserve Currencies: Factors of Evolution and their Role in the World Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 162P.
    22. Carlos Gustavo Machicado, 2006. "Welfare Gains from Optimal Policy in a Partially Dollarized Economy," Development Research Working Paper Series 10/2006, Institute for Advanced Development Studies.
    23. Roger Craine, 2001. "Dollarization: An Irreversible Decision," International Finance 0103003, University Library of Munich, Germany.

  70. Mendoza, Enrique G., 2000. "On the Instability of Variance Decompositions of the Real Exchange Rate Across Exchange- Rate-Regimes: Evidence from Mexico and the United States," Working Papers 00-05, Duke University, Department of Economics.

    Cited by:

    1. Kehoe, Timothy J. & Ruhl, Kim J., 2009. "Sudden stops, sectoral reallocations, and the real exchange rate," Journal of Development Economics, Elsevier, vol. 89(2), pages 235-249, July.
    2. David Parsley, 2002. "Accounting for Real Exchange Rate Changes in East Asia," International Finance 0211003, University Library of Munich, Germany.
    3. DavidC. Parsley & Shang-Jin Wei, 2007. "A Prism into the PPP Puzzles: The Micro-Foundations of Big Mac Real Exchange Rates," Economic Journal, Royal Economic Society, vol. 117(523), pages 1336-1356, October.
    4. Hernandez Vega Marco A., 2012. "Real Exchange Rate Variations, Nontraded Goods and Disaggregated CPI Data," Working Papers 2012-05, Banco de México.
    5. Maria Eleftheriou & Nikolas A. Müller-Plantenberg, 2018. "The Purchasing Power Parity Fallacy: Time to Reconsider the PPP Hypothesis," Open Economies Review, Springer, vol. 29(3), pages 481-515, July.
    6. Ariel Burstein & Martin Eichenbaum & Sergio Rebelo, 2004. "Large Devaluations and the Real Exchange Rate," RCER Working Papers 513, University of Rochester - Center for Economic Research (RCER).
    7. Chen, Lein-Lein & Choi, Seungmook & Devereux, John, 2015. "Accounting for real exchange rate changes at long time horizons," Journal of Macroeconomics, Elsevier, vol. 46(C), pages 264-277.
    8. David C. Parsley & Shang-Jin Wei, 2003. "The Micro-foundations of Big Mac Real Exchange Rates," KRTK-KTI WORKING PAPERS 0306, Institute of Economics, Centre for Economic and Regional Studies.
    9. Naknoi, Kanda, 2008. "Real exchange rate fluctuations, endogenous tradability and exchange rate regimes," Journal of Monetary Economics, Elsevier, vol. 55(3), pages 645-663, April.
    10. Azcona Nestor, 2017. "Exchange rate policy and the role of non-traded goods prices in real exchange rate fluctuations," The B.E. Journal of Macroeconomics, De Gruyter, vol. 17(2), pages 1-18, June.
    11. Ouyang, Alice Y. & Rajan, Ramkishen S., 2013. "Real exchange rate fluctuations and the relative importance of nontradables," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 844-855.
    12. John H. Rogers & Hayden P. Smith, 2001. "Border effects within the NAFTA countries," International Finance Discussion Papers 698, Board of Governors of the Federal Reserve System (U.S.).
    13. Caroline M. Betts & Timothy J. Kehoe, 2008. "Real Exchange Rate Movements and the Relative Price of Non-traded Goods," NBER Working Papers 14437, National Bureau of Economic Research, Inc.
    14. Enrique G. Mendoza, 2005. "Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies," NBER Working Papers 11691, National Bureau of Economic Research, Inc.
    15. Lukasz A. Drozd & Jaromir B. Nosal, 2010. "The Nontradable Goods' Real Exchange Rate Puzzle," NBER Chapters, in: NBER International Seminar on Macroeconomics 2009, pages 227-249, National Bureau of Economic Research, Inc.
    16. Yothin Jinjarak & Kanda Naknoi, 2013. "Real Exchange Rate Fluctuations, Wage Stickiness and Tradability," Working papers 2013-01, University of Connecticut, Department of Economics.
    17. Lein‐Lein Chen & Seungmook Choi & John Devereux, 2015. "Explaining price level differences: New evidence on the Balassa–Samuelson effect," Southern Economic Journal, John Wiley & Sons, vol. 82(1), pages 81-99, July.
    18. Kanda Naknoi, 2005. "Real Exchange Rate Fluctuations and Endogenous Tradability," 2005 Meeting Papers 857, Society for Economic Dynamics.
    19. Kanda Naknoi, 2017. "Real exchange rate fluctuations, wage stickiness and tradability," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(1), pages 94-110, February.
    20. Hernández Manuel A., 2015. "Endogenous Trade, Nontraded Goods and Real Exchange Rate Variations," Working Papers 2015-07, Banco de México.
    21. Kenza Benhima, 2008. "Exhange Rate Volatility and Productivity Growth : The Role of Liability Dollarization," Working Papers 2008-11, Center for Research in Economics and Statistics.
    22. Gilberto E. Arce & Edgar Robles C., 2004. "The Elasticity of Substitution in Demand for Non-Tradable Goods in Costa Rica," Research Department Publications 3183, Inter-American Development Bank, Research Department.
    23. Akhand Akhtar Hossain, 2015. "Economic Management in a Volatile Environment: Monetary and Financial Issues by Ramkishen S. Rajan and Sasidaran Gopalan Palgrave Macmillan , London , 2015 Pp. xx+283. ISBN 9 78 137 37151-5," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 29(2), pages 103-106, November.

  71. Enrique G. Mendoza & Martin Uribe, 1999. "The Business Cycles of Balance-of-Payment Crises: A Revision of Mundellan Framework," NBER Working Papers 7045, National Bureau of Economic Research, Inc.

    Cited by:

    1. Jinill Kim & Sunghyun Henry Kim & Andrew T. Levin, 2001. "Patience, persistence and welfare costs of incomplete markets in open economies," International Finance Discussion Papers 696, Board of Governors of the Federal Reserve System (U.S.).
    2. Yan Zhang, 2008. "Does the Utility Function Form Matter for Indeterminacy in a Two Sector Small Open Economy," Annals of Economics and Finance, Society for AEF, vol. 9(1), pages 91-101, May.
    3. Liu, Xuan, 2007. "Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction," MPRA Paper 18260, University Library of Munich, Germany, revised 26 Oct 2009.
    4. Shujing Li & Isabel K. Yan & Mr. Michael Kumhof, 2007. "Balance of Payments Crises Under Inflation Targeting," IMF Working Papers 2007/084, International Monetary Fund.
    5. Mariassunta Giannetti, 2004. "Old and Modern Currency Crises: Short-Term Liabilities, Speculative Attacks and Business Cycles," Econometric Society 2004 North American Summer Meetings 133, Econometric Society.

  72. Enrique G. Mendoza & Martin Uribe, 1999. "Devaluation Risk and the Syndrome of Exchange-Rate-Based Stabilizations," NBER Working Papers 7014, National Bureau of Economic Research, Inc.

    Cited by:

    1. Burstein, Ariel T. & Neves, Joao C. & Rebelo, Sergio, 2003. "Distribution costs and real exchange rate dynamics during exchange-rate-based stabilizations," Journal of Monetary Economics, Elsevier, vol. 50(6), pages 1189-1214, September.
    2. Stephanie Schmitt-Grohe & Martin Uribe, 2000. "Stabilization Policy and the Costs of Dollarization," Departmental Working Papers 200006, Rutgers University, Department of Economics.
    3. Fabio M. Natalucci & Federico Ravenna, 2002. "The road to adopting the euro: monetary policy and exchange rate regimes in EU candidate countries," International Finance Discussion Papers 741, Board of Governors of the Federal Reserve System (U.S.).
    4. Federico Ravenna & Giovanni Lombardo, 2009. "Trade and Optimal Monetary Policy," 2009 Meeting Papers 784, Society for Economic Dynamics.
    5. Mr. A. J Hamann, 1999. "Exchange-Rate-Based Stabilization: A Critical Look at the Stylized Facts," IMF Working Papers 1999/132, International Monetary Fund.
    6. Kose, M. Ayhan, 2002. "Explaining business cycles in small open economies: 'How much do world prices matter?'," Journal of International Economics, Elsevier, vol. 56(2), pages 299-327, March.
    7. Neven T. Valev & John A. Carlson, 2003. "Tenuous Financial Stability," William Davidson Institute Working Papers Series 540, William Davidson Institute at the University of Michigan.
    8. Özlem Aytaç, 2017. "Exchange Rate-Based Stabilizations: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 31(3), pages 815-830, July.
    9. Enrique G. Mendoza & Martin Uribe, 1999. "The Business Cycles of Balance-of-Payment Crises: A Revision of Mundellan Framework," NBER Working Papers 7045, National Bureau of Economic Research, Inc.
    10. Jose Saboin, 2018. "The Modern Hyperinflation Cycle: Some New Empirical Regularities," IMF Working Papers 2018/266, International Monetary Fund.
    11. Stanley Fischer & Ratna Sahay & Carlos A. Vegh, 2002. "Modern Hyper- and High Inflations," NBER Working Papers 8930, National Bureau of Economic Research, Inc.

  73. Guillermo A. Calvo & Enrique G. Mendoza, 1999. "Regional Contagion and the Globalization of Securities Markets," NBER Working Papers 7153, National Bureau of Economic Research, Inc.

    Cited by:

    1. Arturo Galindo & Alejandro Micco & Andrew Powell, 2005. "¿Acreedores leales o financistas inconstantes? La banca extranjera en América Latina," Research Department Publications 4404, Inter-American Development Bank, Research Department.
    2. Levan Efremidze & John Rutledge & Thomas D. Willett, 2016. "Capital Flow Surges As Bubbles: Behavioral Finance And Mckinnon’S Over-Borrowing Syndrome Extended," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-27, June.
    3. Emine Boz, 2006. "Can Miracles Lead to Crises? An Informational Frictions Explanation of Emerging Markets Crises," Computing in Economics and Finance 2006 19, Society for Computational Economics.
    4. Raffestin, Louis, 2014. "Diversification and systemic risk," Journal of Banking & Finance, Elsevier, vol. 46(C), pages 85-106.
    5. Mody, Ashoka & Taylor, Mark P., 2006. "Regional Vulnerability: The Case of East Asia," Economic Research Papers 269746, University of Warwick - Department of Economics.
    6. Camille Baulant & Nivine Albouz, 2021. "Has financial globalization since 1990 reduced income inequality: the role of rating announcements on the volatility and the returns of the Brazilian Financial Market [Les annonces de notation souveraine, la volatilité des marchés financiers et le," Working Papers hal-03258994, HAL.
    7. Bekaert, Geert & Harvey, Campbell R., 2003. "Emerging markets finance," Journal of Empirical Finance, Elsevier, vol. 10(1-2), pages 3-56, February.
    8. Guillermo Felices & Christian Grisse & Jing Yang, 2009. "International financial transmission: emerging and mature markets," Bank of England Staff Working Paper series 373, Bank of England.
    9. MARAIS Elise, 2004. "La contagion financi`ere : une ´etude empirique sur les causalités lors de la crise asiatique," International Finance 0404003, University Library of Munich, Germany.
    10. Bohl, Martin T. & Branger, Nicole & Trede, Mark, 2017. "The case for herding is stronger than you think," Journal of Banking & Finance, Elsevier, vol. 85(C), pages 30-40.
    11. Daniel Levy & Tamir Mayer & Alon Raviv, 2022. "Economists in the 2008 Financial Crisis: Slow to See, Fast to Act," Working Papers 2022-01, Bar-Ilan University, Department of Economics.
    12. Brière, Marie & Chapelle, Ariane & Szafarz, Ariane, 2012. "No contagion, only globalization and flight to quality," Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1729-1744.
    13. K L Chawla & Pankaj Kumar Gupta, 2014. "Financial Perspectives of Globalization in Emerging Economies ? Concerns for India," Proceedings of Economics and Finance Conferences 0401601, International Institute of Social and Economic Sciences.
    14. Graciela L. Kaminsky, 2008. "Crises and Sudden Stops: Evidence from International Bond and Syndicated-Loan Markets," NBER Working Papers 14249, National Bureau of Economic Research, Inc.
    15. Shahzad, Syed Jawad Hussain & Nor, Safwan Mohd & Kumar, Ronald Ravinesh & Mensi, Walid, 2017. "Interdependence and contagion among industry-level US credit markets: An application of wavelet and VMD based copula approaches," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 466(C), pages 310-324.
    16. Mr. Luis Brandão-Marques & Mr. Gaston Gelos & Ms. Natalia Melgar, 2013. "Country Transparency and the Global Transmission of Financial Shocks," IMF Working Papers 2013/156, International Monetary Fund.
    17. Partha Gangopadhyay, 2011. "Decision Making in Ignorance and Consequent Market Outcomes: Equilibrium Analysis," Modern Applied Science, Canadian Center of Science and Education, vol. 5(3), pages 1-3, June.
    18. Pedraza, Alvaro & Pulga, Fredy & Vasquez, Jose, 2020. "Costly index investing in foreign markets," Journal of Financial Markets, Elsevier, vol. 51(C).
    19. Ansgar Belke & Ralph Setzer, 2004. "Contagion, Herding and Exchange Rate Instability - A Survey," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 234/2004, Department of Economics, University of Hohenheim, Germany.
    20. Richard C. K. Burdekin & Pierre L. Siklos, 2011. "Enter the Dragon: Interactions between Chinese, US and Asia-Pacific Equity Markets, 1995-2010," Working Papers 232011, Hong Kong Institute for Monetary Research.
    21. Buch, Claudia M., 2001. "Distance and International Banking," Kiel Working Papers 1043, Kiel Institute for the World Economy.
    22. Krebs, Tom, 2005. "Fundamentals, information, and international capital flows: A welfare analysis," European Economic Review, Elsevier, vol. 49(3), pages 579-598, April.
    23. Toni Ahnert & Christoph Bertsch, 2015. "A Wake-Up-Call Theory of Contagion," Staff Working Papers 15-14, Bank of Canada.
    24. Radovan Vadovic, 2009. "Early, Late, and Multiple Bidding in Internet Auctions," Working Papers 0904, Centro de Investigacion Economica, ITAM.
    25. Haider Ali Khan, 2003. "General Conclusions: From Crisis to A Global Political Economy of Freedom," CIRJE F-Series CIRJE-F-192, CIRJE, Faculty of Economics, University of Tokyo.
    26. Sebnem Kalemli-Özcan, 2015. "Spillovers to Emerging Markets during Global Financial Crisis," Central Banking, Analysis, and Economic Policies Book Series, in: Claudio Raddatz & Diego Saravia & Jaume Ventura (ed.),Global Liquidity, Spillovers to Emerging Markets and Policy Responses, edition 1, volume 20, chapter 9, pages 281-314, Central Bank of Chile.
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    32. Kohonen, Anssi, 2012. "On detection of volatility spillovers in simultaneously open stock markets," MPRA Paper 37504, University Library of Munich, Germany.
    33. Birdsall, Nancy & de la Torre, Augusto & Caicedo, Felipe Valencia, 2010. "The Washington consensus : assessing a damaged brand," Policy Research Working Paper Series 5316, The World Bank.
    34. Demiris, Nikolaos & Kypraios, Theodore & Smith, L. Vanessa, 2012. "On the epidemic of financial crises," MPRA Paper 46693, University Library of Munich, Germany.
    35. Fratzscher, Marcel, 2002. "On currency crises and contagion," Working Paper Series 139, European Central Bank.
    36. Choijil, Enkhbayar & Méndez, Christian Espinosa & Wong, Wing-Keung & Vieito, João Paulo & Batmunkh, Munkh-Ulzii, 2022. "Thirty years of herd behavior in financial markets: A bibliometric analysis," Research in International Business and Finance, Elsevier, vol. 59(C).
    37. Mardi Dungey & Rene Fry & Vance L. Martin, 2006. "Correlation, Contagion, and Asian Evidence," Asian Economic Papers, MIT Press, vol. 5(2), pages 32-72, Spring/Su.
    38. Vo, Xuan Vinh & Nguyen, Dong Phong & Ho, Viet Tien & Nguyen, Trung Thong, 2017. "Where do the advanced countries invest? An investigation of capital flows from advanced countries to emerging economies," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 51(C), pages 142-154.
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    41. Lili Zhu & Jiawen Yang, 2010. "Psychic Distance in the Eight-year Crisis: An Empirical Study," Chapters, in: Brian Bruce (ed.), Handbook of Behavioral Finance, chapter 7, Edward Elgar Publishing.
    42. Khan, Haider, 2013. "Global Financial Governance: Towards a New Global Financial Architecture for Averting Deep Financial Crises," MPRA Paper 49275, University Library of Munich, Germany.
    43. Konstantinos Drakos, 2009. "Cross-Country Stock Market Reactions to Major Terror Events: The Role of Risk Perception," Economics of Security Working Paper Series 16, DIW Berlin, German Institute for Economic Research.
    44. Manmohan Agarwal & Vandana T. R., 2021. "Exchange Rate Crises: Experiences of Latin America, East Asia and India," South Asian Journal of Macroeconomics and Public Finance, , vol. 10(2), pages 158-178, December.
    45. Enrique G. Mendoza & Katherine A. Smith, 2004. "Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices," NBER Working Papers 10940, National Bureau of Economic Research, Inc.
    46. Daniel Levy & Tamir Mayer & Alon Raviv, 2020. "Academic Scholarship in Light of the 2008 Financial Crisis: Textual Analysis of NBER Working Papers," Working Papers 2020-01, Bar-Ilan University, Department of Economics.
    47. Tai-kuang Ho & Ming-yen Wu, 2012. "Third-person Effect and Financial Contagion in the Context of a Global Game," Open Economies Review, Springer, vol. 23(5), pages 823-846, November.
    48. MacDonald, Ronald & Bayoumi, Tamim & Kumar, Manmohan & Fazio, Giorgio, 2003. "Fatal Attraction," CEPR Discussion Papers 3870, Centre for Economic Policy Research.
    49. Eric Santor, 2003. "Banking Crises and Contagion: Empirical Evidence," Staff Working Papers 03-1, Bank of Canada.
    50. Dewandaru, Ginanjar & Alaoui, Abdelkader & Masih, A. Mansur M. & Alhabshi, Syed Othman, 2013. "Comovement and resiliency of Islamic equity market: Evidence from GCC Islamic equity index based on wavelet analysis," MPRA Paper 56980, University Library of Munich, Germany.
    51. Dedu, Vasile & Mihai, Irina & Neagu, Florian, 2010. "Trends of the Contagion Risk in Sovereign Spreads for Emerging European Countries," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 265-279, July.
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    53. Broner, Fernando A.,Lorenzoni, Guido,Schmukler, 2004. "ĸºä»€Ä¹ˆæ–°Å…´Ç» Ƶžé€‰Æ‹©Å ‘È¡Œçÿ­Æœÿ债券ϼŸ," Policy Research Working Paper Series 3389, The World Bank.
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    58. Arturo Galindo & Alejandro Micco & Andrew Powell, 2005. "Loyal Lenders or Fickle Financiers: Foreign Banks in Latin America," Research Department Publications 4403, Inter-American Development Bank, Research Department.
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    60. Dvorak, Tomas, 2003. "Gross capital flows and asymmetric information," Journal of International Money and Finance, Elsevier, vol. 22(6), pages 835-864, November.
    61. Enrique G. Mendoza, 2002. "Credit, Prices, and Crashes: Business Cycles with a Sudden Stop," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 335-392, National Bureau of Economic Research, Inc.
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    378. Matsuoka, Tarishi, 2018. "Banks and liquidity crises in emerging market economies," Journal of Economic Dynamics and Control, Elsevier, vol. 94(C), pages 43-62.
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    384. Ricardo Ffrench-Davis, 2008. "From Financieristic To Real Macroeconomics: Seeking Development Convergence In Ees," Working Papers wp272, University of Chile, Department of Economics.
    385. Chiang, Thomas C. & Jeon, Bang Nam & Li, Huimin, 2007. "Dynamic correlation analysis of financial contagion: Evidence from Asian markets," Journal of International Money and Finance, Elsevier, vol. 26(7), pages 1206-1228, November.
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    388. Guillermo A. Calvo, 1998. "Capital Flows and Capital-Market Crises: The Simple Economics of Sudden Stops," Journal of Applied Economics, Universidad del CEMA, vol. 1, pages 35-54, November.
    389. Mark Aguiar & Gita Gopinath, 2004. "Defaultable debt, interest rates and the current account," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    390. Zheng, Qingying & Wu, Jintao & Lin, Boqiang, 2026. "Asymmetric volatility spillover between clean energy and nonferrous metal markets under climate risks: Portfolio hedging implications," Resources Policy, Elsevier, vol. 112(C).
    391. Chen, Chiou-Wen & Yang, Meizhi, 2024. "The relationship between bureaucratic corruption and financial crisis in an open economy," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1583-1594.
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    393. Louis RAFFESTIN, 2021. "Uncertainty as a vector of financial contagion: how does it work, and how much does it matter?," LEO Working Papers / DR LEO 2881, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    394. Bozhechkova, Alexandra (Божечкова, Александра) & Goryunov, Evgeny (Горюнов, Евгений) & Sinelnikov-Murylev, Sergey (Синельников-Мурылев, Сергей) & Trunin, Pavel V. (Трунин, Павел), 2017. "Capital Controls: World Experience and Lessons for Russia [Ограничения На Движение Капитала: Мировой Опыт И Уроки Для России]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 8-43, April.
    395. Eliane Cristina de Araujo & Marcos Vinicius Chiliatto Leite, 2009. "Sobreapreciação Cambial no Brasil: Estimativa, Causas e Consequências (1994-2008)," Discussion Papers 1404, Instituto de Pesquisa Econômica Aplicada - IPEA.
    396. Bazán-Palomino, Walter & Winkelried, Diego, 2025. "Short-run and long-run volatility spillovers from China to countries of the Belt and Road Initiative," Research in International Business and Finance, Elsevier, vol. 80(C).
    397. Marine Coupaud, 2013. "Contagion Des Crises De 1997 Et 2008 En Asean+3: Un Modele Var Structurel," Working Papers hal-00913175, HAL.
    398. Mariano Tommasi & Miguel Braun, 2002. "Fiscal Rules for Subnational Governments. Some Organizing Principles and Latin American Experiences," Working Papers 44, Universidad de San Andres, Departamento de Economia, revised Mar 2002.
    399. Patrycja Chodnicka -Jaworska, 2019. "Impact of credit rating agencies on European Banking stock prices: Is the recognition of credit rating agency important?," Faculty of Management Working Paper Series 42019, University of Warsaw, Faculty of Management.
    400. Clark, Ephraim & Kassimatis, Konstantinos, 2004. "Country financial risk and stock market performance: the case of Latin America," Journal of Economics and Business, Elsevier, vol. 56(1), pages 21-41.
    401. Guillermo A. Calvo, 2005. "Crises in Emerging Market Economies: A Global Perspective," NBER Working Papers 11305, National Bureau of Economic Research, Inc.
    402. MARAIS Elise, 2004. "Indices de vulnérabilité au créancier bancaire commun," International Finance 0404001, University Library of Munich, Germany.
    403. Avdiu, Besart & Gruhle, Tobias, 2018. "Contagion and information frictions in emerging markets: the role of joint signals," MPRA Paper 84872, University Library of Munich, Germany.
    404. Ralph De Haas & Neeltje Van Horen, 2013. "Running for the Exit? International Bank Lending During a Financial Crisis," The Review of Financial Studies, Society for Financial Studies, vol. 26(1), pages 244-285.
    405. Celık, Sibel, 2012. "The more contagion effect on emerging markets: The evidence of DCC-GARCH model," Economic Modelling, Elsevier, vol. 29(5), pages 1946-1959.
    406. Carrière-Swallow, Yan & Céspedes, Luis Felipe, 2013. "The impact of uncertainty shocks in emerging economies," Journal of International Economics, Elsevier, vol. 90(2), pages 316-325.
    407. Logan Rangasamy, 2014. "Capital Flows: The South African Experience," South African Journal of Economics, Economic Society of South Africa, vol. 82(4), pages 551-566, December.
    408. Frenkel, Michael & Menkhoff, Lukas, 2003. "Are Foreign Institutional Investors Good for Emerging Markets?," Hannover Economic Papers (HEP) dp-283, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    409. Kraussl, Roman, 2005. "Do credit rating agencies add to the dynamics of emerging market crises?," Journal of Financial Stability, Elsevier, vol. 1(3), pages 355-385, April.
    410. Fratzscher, Marcel & Bussière, Matthieu, 2002. "Towards a new early warning system of financial crises," Working Paper Series 145, European Central Bank.

  74. Enrique G. Mendoza & Martin Uribe, 1998. "The business cycles of currency speculation: a revision of the Mundellian framework," International Finance Discussion Papers 617, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Enrique G. Mendoza & Guillermo A. Calvo, 2000. "Capital-Markets Crises and Economic Collapse in Emerging Markets: An Informational-Frictions Approach," American Economic Review, American Economic Association, vol. 90(2), pages 59-64, May.
    2. Shankar, Rashmi, 2002. "Distinguishing between observationally equivalent theories of crises," Policy Research Working Paper Series 2926, The World Bank.
    3. Uribe, Martin, 1999. "Comparing the welfare costs and initial dynamics of alternative inflation stabilization policies," Journal of Development Economics, Elsevier, vol. 59(2), pages 295-318, August.
    4. Francisco Venegas-Martínez, 2005. "Temporary Stabilization and the Real Option of Waiting when Consumption can be Delayed: an Extreme Value Approach," DEGIT Conference Papers c010_043, DEGIT, Dynamics, Economic Growth, and International Trade.

  75. Calvo, Guillermo A. & Mendoza, Enrique, 1998. "Empirical Puzzles of Chilean Stabilization Policy," Working Papers 98-02, Duke University, Department of Economics.

    Cited by:

    1. Wieland, Volker, 2008. "Learning, Endogenous Indexation and Disinflation in the New-Keynesian Model," CEPR Discussion Papers 6749, Centre for Economic Policy Research.
    2. Alexandre Barros da Cunha, 2003. "Optimal Exchange Rate Policy, Optimal Incomplete Taxation and Business Cycles," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] b16, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    3. Fabián Gredig & Klaus Schmidt-Hebbel & Rodrigo Valdés, 2007. "The Monetary Policy Horizon in Chile and Other Inflation-Targeting Countries," Working Papers Central Bank of Chile 438, Central Bank of Chile.
    4. Ricardo J. Caballero, 2000. "Inestabilidad estructural en Chile: informe de políticas," Research Department Publications 4212, Inter-American Development Bank, Research Department.
    5. Beltrán, Felipe & Coble, David, 2024. "Monetary policy surprises on the banking sector: The role of the information and pure monetary shocks," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 5(3).
    6. Felipe Morandé L., 2001. "A Decade of Inflation Targeting in Chile: Developments, Lessons, and Challenges," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 4(1), pages 35-62, April.
    7. Verónica Mies & Felipe Morandé & Matías Tapia, 2002. "Política Monetaria y Mecanismos de Transmisión: Nuevos Elementos para una Vieja Discusión," Working Papers Central Bank of Chile 181, Central Bank of Chile.
    8. Eric Parrado, 2001. "Effects of Foreign and Domestic Monetary Policy in a Small Open Economy: the Case of Chile," Working Papers Central Bank of Chile 108, Central Bank of Chile.
    9. Antonio Spilimbergo, 2002. "Copper and the Chilean Economy, 1960-98," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(2), pages 115-126.
    10. Gabriel Rodríguez & Renato Vassallo, 2022. "Time Evolution of External Shocks on Macroeconomic Fluctuations in Pacific Alliance Countries: Empirical Application using TVP-VAR-SV Models," Documentos de Trabajo / Working Papers 2022-508, Departamento de Economía - Pontificia Universidad Católica del Perú.
    11. Michael Pedersen, 2019. "The impact of commodity price shocks in a copper-rich economy: the case of Chile," Empirical Economics, Springer, vol. 57(4), pages 1291-1318, October.
    12. Rodrigo Valdes & Roberto Jara‐Rojas, 2020. "The impact of commodity price shocks among regional economies of a developing country," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(3), pages 920-939, July.
    13. Sebastian Edwards, 1999. "Crisis Prevention: Lessons from Mexico and East Asia," NBER Working Papers 7233, National Bureau of Economic Research, Inc.
    14. Caballero, Ricardo J., 2000. "Structural Volatility in Chile: A Policy Report," IDB Publications (Working Papers) 1323, Inter-American Development Bank.
    15. Verónica Mies M. & Felipe Morandé L. & Matías Tapia G., 2002. "Monetary Policy and Transmission Mechanisms: New Elements for an old Debate," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 5(3), pages 29-66, December.
    16. Berument Hakan & Ceylan Nildag Basak, 2008. "US Monetary Policy Surprises and Foreign Interest Rates: Evidence from a Set of MENA Countries," Review of Middle East Economics and Finance, De Gruyter, vol. 4(2), pages 117-133, April.
    17. Rodríguez, Gabriel & Vassallo, Renato & Castillo B., Paul, 2023. "Effects of external shocks on macroeconomic fluctuations in Pacific Alliance countries," Economic Modelling, Elsevier, vol. 124(C).
    18. Eric Parrado H., 2001. "Foreign Shocks and Monetary Policy Transmission in Chile," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 4(3), pages 29-57, December.

  76. Mendoza, Enrique & Uribe, Martin, 1997. "The Syndrome of Exchange-Rate-Based Stabilizations and the Uncertain Duration of Currency Pegs," Working Papers 97-30, Duke University, Department of Economics.

    Cited by:

    1. Francisco Venegas-Martinez & Ambrosio Ortiz-Ramirez & Francisco Ortiz-Arango, 2012. "Temporary stabilization: a Frechet-Weibullextreme value distribution approach," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 9(1), pages 35-55, Enero-Jun.
    2. Kamin, Steven B., 2001. "Real exchange rates and inflation in exchange-rate-based stabilizations: an empirical examination," Journal of Development Economics, Elsevier, vol. 64(1), pages 237-253, February.
    3. Kamin, Steve B. & Rogers, John H., 2000. "Output and the real exchange rate in developing countries: an application to Mexico," Journal of Development Economics, Elsevier, vol. 61(1), pages 85-109, February.
    4. Alexandre Barros da Cunha, 2003. "Optimal Exchange Rate Policy, Optimal Incomplete Taxation and Business Cycles," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] b16, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    5. Norbert Fiess & Marco fugazza & William Maloney, 2002. "Exchange Rate Appreciations, Labor Market Rigidities, and Informality," Working Papers 2005_15, Business School - Economics, University of Glasgow.
    6. Cunha, Alexandre B., 2002. "Optimal Exchange Rate Policy and Business Cycles," Insper Working Papers wpe_19, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    7. Enrica Detragiache & A. Javier Hamann, 1999. "Exchange Rate‐Based Stabilization In Western Europe: Greece, Ireland, Italy, And Portugal," Contemporary Economic Policy, Western Economic Association International, vol. 17(3), pages 358-369, July.
    8. Marla Ripoll, 2005. "Real Exchange Rate Targeting, Macroeconomic Performance and Sectoral Income Distribution in Developing Countries," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 14(2), pages 167-196.
    9. Edward F. Buffie & Manoj Atolia, 2006. "Resurrecting the Weak Credibility Hypothesis in Models of Exchange-Rate-Based Stabilization," Working Papers wp2009_01_03, Department of Economics, Florida State University, revised Aug 2007.
    10. Steven B. Kamin & Marc Klau, 1998. "Some multi-country evidence on the effects of real exchange rates on output," International Finance Discussion Papers 611, Board of Governors of the Federal Reserve System (U.S.).
    11. Venegas-Martinez, Francisco, 2006. "Stochastic temporary stabilization: Undiversifiable devaluation and income risks," Economic Modelling, Elsevier, vol. 23(1), pages 157-173, January.
    12. Lahiri, Amartya, 2000. "Disinflation programs under policy uncertainty," Journal of International Economics, Elsevier, vol. 50(2), pages 351-373, April.
    13. de Cordoba, Gonzalo Fernandez & Kehoe, Timothy J., 2000. "Capital flows and real exchange rate fluctuations following Spain's entry into the European Community," Journal of International Economics, Elsevier, vol. 51(1), pages 49-78, June.
    14. Buffie, Edward F., 1999. "Optimal trade liberalization and the welfare costs of imperfect credibility," Journal of International Economics, Elsevier, vol. 47(2), pages 371-398, April.
    15. Lahiri, Amartya, 2001. "Exchange rate based stabilizations under real frictions: The role of endogenous labor supply," Journal of Economic Dynamics and Control, Elsevier, vol. 25(8), pages 1157-1177, August.
    16. Martin Uribe, 1996. "The Tequila effect: theory and evidence from Argentina," International Finance Discussion Papers 552, Board of Governors of the Federal Reserve System (U.S.).
    17. Venegas-Martinez, Francisco, 2001. "Temporary stabilization: A stochastic analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 25(9), pages 1429-1449, September.
    18. Calvo, Guillermo A. & Mendoza, Enrique G., 1996. "Mexico's balance-of-payments crisis: a chronicle of a death foretold," Journal of International Economics, Elsevier, vol. 41(3-4), pages 235-264, November.
    19. Kolver Hernandez, 2006. "State-Dependent Nominal Rigidities & Disinflation Programs in Small Open Economies," Working Papers 06-13, University of Delaware, Department of Economics.
    20. Mendoza, Enrique G. & Uribe, Martin, 2000. "Devaluation risk and the business-cycle implications of exchange-rate management," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 239-296, December.
    21. Uribe, Martin, 1999. "Comparing the welfare costs and initial dynamics of alternative inflation stabilization policies," Journal of Development Economics, Elsevier, vol. 59(2), pages 295-318, August.
    22. Cunha, Alexandre, 2013. "Optimal Exchange Rate Policy and Business Cycles," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 33(1), September.
    23. Cunha, Alexandre B., 2002. "Optimal Exchange Rate Policy, Optimal Incomplete Taxation and Business Cycles," Insper Working Papers wpe_16, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    24. Francisco Venegas-Martínez, 2005. "Temporary Stabilization and the Real Option of Waiting when Consumption can be Delayed: an Extreme Value Approach," DEGIT Conference Papers c010_043, DEGIT, Dynamics, Economic Growth, and International Trade.

  77. Calvo, Guillermo A. & Mendoza, Enrique, 1997. "Rational Herd Behavior and the Globalization of Securities Markets," Working Papers 97-26, Duke University, Department of Economics.

    Cited by:

    1. Welby, Justin, 2000. "Going with the flow of the market," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2241.
    2. Zamagni, Stefano & Pietrobelli, Carlo, 2000. "The emerging economies in the global financial market: some concluding remarks," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2243.
    3. Blank, Sven & Buch, Claudia M. & Neugebauer, Katja, 2009. "Shocks at large banks and banking sector distress: The Banking Granular Residual," Journal of Financial Stability, Elsevier, vol. 5(4), pages 353-373, December.
    4. Anderson, Luis, 2000. "International financial flows: a labour point or view," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2236.
    5. Sebastian Edwards, 1997. "The Mexican Peso Crisis? How Much Did We Know? When Did We Know It?," NBER Working Papers 6334, National Bureau of Economic Research, Inc.
    6. Ms. Nada Choueiri, 1999. "A Model of Contagious Currency Crises with Application to Argentina," IMF Working Papers 1999/029, International Monetary Fund.
    7. Tassos Anastasatos & Ian R. Davidson, 2004. "An Empirical Characterisation of Speculative Pressure: A Comprehensive Panel Study Using LDV Models in High Frequency," Discussion Paper Series 2004_8, Department of Economics, Loughborough University, revised Aug 2004.
    8. Bingham, Gavin, 2000. "International financial architecture: foundations and framework," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2223.
    9. Beckmann, Daniela & Menkhoff, Lukas & Suto, Megumi, 2007. "Does Culture Influence Asset Managers? Views and Behavior?," Hannover Economic Papers (HEP) dp-367, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    10. Caloia, Angelo, 2000. "The responsibility of financial actors," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2235.
    11. Aninat, Eduardo, 2000. "Globalization as an economic and social force: opportunities and risks from a humanistic perspective," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2219.
    12. Kaminsky,Graciela & Lyons,Richard K. & Schmukler,Sergio L., 2000. "Managers, investors, and crises : mutual fund strategies in emerging markets," Policy Research Working Paper Series 2399, The World Bank.
    13. Reinhart, Carmen & Kaminsky, Graciela, 2001. "Bank Lending and Contagion: Evidence from the Asian Crisis," MPRA Paper 7580, University Library of Munich, Germany.
    14. Eduardo R. Borensztein & R. Gaston Gelos, 2001. "A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds," CESifo Working Paper Series 564, CESifo.
    15. Snoy, Bernard, 2000. "The impact of financial globalization on transition economies," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2230.
    16. Mr. Alejandro Lopez Mejia, 1999. "Large Capital Flows: A Survey of the Causes, Consequences, and Policy Responses," IMF Working Papers 1999/017, International Monetary Fund.
    17. Swoboda, Alexander K., 2000. "Beyond Bretton Woods: what international monetary and financial system for the twenty-first century?," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2226.
    18. Kaminsky, Graciela L. & Schmukler, Sergio L., 1999. "What triggers market jitters?: A chronicle of the Asian crisis," Journal of International Money and Finance, Elsevier, vol. 18(4), pages 537-560, August.
    19. Jarl G. Kallberg & Paolo Pasquariello, 2005. "An Examination of the Asian Crisis: Regime Shifts in Currency and Equity Markets," The Journal of Business, University of Chicago Press, vol. 78(1), pages 169-212, January.
    20. Kristin Forbes, 2000. "The Asian Flu and Russian Virus: Firm-level Evidence on How Crises are Transmitted Internationally," NBER Working Papers 7807, National Bureau of Economic Research, Inc.
    21. Giulio Cifarelli & Giovanna Paladino, 2001. "Volatility spillovers and the role of leading financial centres," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 54(216), pages 37-71.
    22. Pablo Bustelo & Clara Garcia & Iliana Olivie, 1999. "Global and Domestic Factors of Financial Crises in Emerging Economies: Lessons from the East Asian Episodes (1997-1999)," Working Papers 002, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
    23. Leonidas E. De la Rosa, 1999. "Ataques Especulativos:Un Enfoque De Incertidumbre E Informaci�N," Borradores de Economia 2033, Banco de la Republica.
    24. Brock,W.A. & Hommes,C.H., 1998. "Rational animal spirits," Working papers 23, Wisconsin Madison - Social Systems.
    25. Sweta Saxena & Kar-yiu Wong, 1999. "Currency Crises and Capital Control: A Survey," Working Papers 0045, University of Washington, Department of Economics.
    26. Ocampo, José Antonio, 2000. "A broad agenda for international financial reform," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2222.
    27. Aizenman, Joshua & Powell, Andrew, 2003. "Volatility and financial intermediation," Journal of International Money and Finance, Elsevier, vol. 22(5), pages 657-679, October.
    28. Ocampo, José Antonio, 2000. "Where do we stand?," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2218.
    29. Machinea, José Luis, 2000. "Crisis and contagion: some new and old ideas," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2232.
    30. Eichengreen, Barry, 2000. "Taming Capital Flows," World Development, Elsevier, vol. 28(6), pages 1105-1116, June.
    31. Hilton, Andrew, 2000. "Ethics and the financial community," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2238.
    32. Griffith-Jones, Stephany, 2000. "Towards a new financial architecture: the management of crises," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2225.
    33. Dherse, Jean-Loup, 2000. "Why common good matters," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2237.
    34. Fehn, Rainer, 1999. "Globalisierung und unvollkommene Kapitalmärkte: Verschärft die Knappheit international anerkannter Sicherheiten Länderkrisen?," Discussion Paper Series 29, Julius Maximilian University of Würzburg, Chair of Economic Order and Social Policy.
    35. Kar-yiu Wong, "undated". "Housing Market Bubbles and Currency Crisis: the case of Thailand," Working Papers 0082, University of Washington, Department of Economics.
    36. filippo gori, 2012. "The risk of self-protection: the role of bank bailout guarantees in channelling sovereign credit risk internationally," IHEID Working Papers 12-2014, Economics Section, The Graduate Institute of International Studies, revised 30 Nov 2014.
    37. Zaiter Lahimer, Mahjouba, 2011. "L’impact des entrées de capitaux privés sur la croissance économique dans les pays en développement," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/7670 edited by Sterdyniak, Henri.
    38. Maurice Obstfeld, 1998. "The Global Capital Market: Benefactor or Menace?," NBER Working Papers 6559, National Bureau of Economic Research, Inc.
    39. Daryl Collins & Shana Gavron, 2004. "Channels of financial market contagion," Applied Economics, Taylor & Francis Journals, vol. 36(21), pages 2461-2469.
    40. Papini, Roberto, 2000. "International finance: factor of peace or of conflict?," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2217.
    41. Kaufmann, Daniel & Mehrez, Gil & Schmukler, Sergio, 1999. "Predicting currency fluctuations and crises - do resident firms have an informational advantage?," Policy Research Working Paper Series 2259, The World Bank.
    42. Frei Ruiz-Tagle, Eduardo, 2000. "Financial markets and globalization: the perspective of emerging economies," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2221.
    43. Ffrench-Davis, Ricardo, 2000. "Stabilizing capital surges in emerging economies," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2228.
    44. Jamel Boukhatem, 2009. "Essai sur les déterminants empiriques de développement des marchés obligataires," Working Papers hal-04140858, HAL.
    45. Cees G. H. Diks & Mr. Dennis P Botman, 2005. "The Role of Domestic and Foreign Investors in a Simple Model of Speculative Attacks," IMF Working Papers 2005/205, International Monetary Fund.
    46. Massad, Carlos, 2000. "Capital flows in Chile: changes and policies in the 1990s," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2233.
    47. Sabourin, Louis, 2000. "Dealing with 'the global governance' and 'the dual constituency' syndromes in emerging countries," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2240.
    48. Kaminsky,Graciela & Lyons,Richard K. & Schmukler,Sergio L., 2001. "Mutual fund investment in emerging markets - an overview," Policy Research Working Paper Series 2529, The World Bank.
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    211. Yasin Kuso & Muhia John Gachunga, 2019. "Impact of Tax Structures on Growth in Congo, Brazzaville," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(2), pages 108-113, June.
    212. Helena Helfer, 2017. "Prosperity-Enhancing Institutions: Towards a Comprehensive Composite Index," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 134(3), pages 805-845, December.
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    230. Hyun Park, 2010. "Fiscal Policy and Equitable Growth," Review of Development Economics, Wiley Blackwell, vol. 14(1), pages 121-140, February.
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    240. Mendoza, Enrique G. & Milesi-Ferretti, Gian Maria & Asea, Patrick, 1997. "On the ineffectiveness of tax policy in altering long-run growth: Harberger's superneutrality conjecture," Journal of Public Economics, Elsevier, vol. 66(1), pages 99-126, October.
    241. Věra Vráblíková, 2016. "Vliv nepřímých daní na dlouhodobý ekonomický růst [The Impact of Indirect Taxes on Economic Growth]," Politická ekonomie, Prague University of Economics and Business, vol. 2016(2), pages 145-160.
    242. Silvestro Sanzo & Mariano Bella & Giovanni Graziano, 2017. "Tax Structure and Economic Growth: A Panel Cointegrated VAR Analysis," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 3(2), pages 239-253, July.
    243. Ganghof, Steffen, 1999. "Adjusting national tax policy to economic internationalization: Strategies and outcomes," MPIfG Discussion Paper 99/6, Max Planck Institute for the Study of Societies.

  80. Enrique G. Mendoza & Linda L. Tesar, 1995. "Supply-side economics in a global economy," International Finance Discussion Papers 507, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Patrick K. Asea & Enrique G. Mendoza & Gian Maria Milesi-Ferreti, 1995. "Do taxes matter for long-run growth?: Harberger's superneutrality conjecture," International Finance Discussion Papers 511, Board of Governors of the Federal Reserve System (U.S.).
    2. Jinill Kim & Sunghyun Henry Kim & Andrew T. Levin, 2001. "Patience, persistence and welfare costs of incomplete markets in open economies," International Finance Discussion Papers 696, Board of Governors of the Federal Reserve System (U.S.).
    3. Enrique G. Mendoza, 2001. "The International Macroeconomics of Taxation and the Case Against European Tax Harmonization," NBER Working Papers 8217, National Bureau of Economic Research, Inc.
    4. Holger Strulik, 2002. "Fiscal Policy Reforms in a Global Economy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 9(1), pages 73-91, January.
    5. Werner Roeger & Jan Veld & Don Woehrmann, 2002. "Some Equity and Efficiency Considerations of International Tax Competition," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 9(1), pages 7-31, January.
    6. Peter H. Lindert, 2003. "Why the Welfare State Looks Like a Free Lunch," NBER Working Papers 9869, National Bureau of Economic Research, Inc.
    7. Jang-Ting Guo & Kevin J. Lansing, 1995. "Optimal taxation of capital income in a growth model with monopoly profits," Working Papers (Old Series) 9510, Federal Reserve Bank of Cleveland.
    8. Enrique G. Mendoza & Linda L. Tesar & Jing Zhang, 2014. "Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies," Working Papers 644, Research Seminar in International Economics, University of Michigan.
    9. Jing Zhang, 2015. "Saving Europe?," 2015 Meeting Papers 599, Society for Economic Dynamics.
    10. Juha Tervala & Mr. Giovanni Ganelli, 2008. "Tax Reforms, “Free Lunches”, and “Cheap Lunches” in Open Economies," IMF Working Papers 2008/227, International Monetary Fund.
    11. Frédérique Bec & Jean-Olivier Hairault, 1997. "Fédéralisme budgétaire et stabilisation macroéconomique en Europe," Revue Économique, Programme National Persée, vol. 48(3), pages 505-517.
    12. Bjørn Volkerink & Jan-Egbert Sturm & Jakob de Haan, 2002. "Tax Ratios in Macroeconomics: Do Taxes Really Matter?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 29(3), pages 209-224, September.
    13. Faik Koray & K. Peren Arin, 2006. "International Transmission of Fiscal Shocks: An Empirical Investigation," Departmental Working Papers 2006-03, Department of Economics, Louisiana State University.
    14. Strulik, Holger & Trimborn, Timo, 2008. "Anticipated Tax Reforms and Temporary Tax Cuts: A General Equilibrium Analysis," Hannover Economic Papers (HEP) dp-406, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    15. Gorodnichenko, Yuriy & Mendoza, Enrique G. & Tesar, Linda L., 2009. "The Finnish Great Depression: From Russia with Love," IZA Discussion Papers 4113, IZA Network @ LISER.
    16. Manuel Gomez, 2003. "Effects of Flat-Rate Taxes: to What Extent Does the Leisure Specification Matter?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 404-430, April.
    17. Chryssi Giannitsarou, 2004. "Supply-side reforms and learning dynamics," Money Macro and Finance (MMF) Research Group Conference 2003 36, Money Macro and Finance Research Group.
    18. Leon Bettendorf & Joeri Gorter & Albert van der Horst, 2006. "Who benefits from tax competition in the European Union?," CPB Document 125, CPB Netherlands Bureau for Economic Policy Analysis.
    19. Dimitris Papageorgiou, 2009. "Macroeconomic Implications of Alternative Tax Regimes: The Case of Greece," Working Papers 97, Bank of Greece.
    20. Mathias Trabandt & Harald Uhlig, 2009. "How Far Are We From The Slippery Slope? The Laffer Curve Revisited," NBER Working Papers 15343, National Bureau of Economic Research, Inc.
    21. McAdam, Peter & Straub, Roland & Coenen, Günter, 2007. "Tax reform and labour-market performance in the euro area: a simulation-based analysis using the New Area-Wide Model," Working Paper Series 747, European Central Bank.
    22. Jens Brøchner & Jesper Jensen & Patrik Svensson & Peter Birch Sørensen, 2006. "The Dilemmas of Tax Coordination in the Enlarged European Union," CESifo Working Paper Series 1859, CESifo.
    23. Francesco Busato & Bruno Chiarini, 2009. "Steady state Laffer curve with the underground economy," Discussion Papers 2_2009, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    24. Michael Magill & Kristin Van Gaasback & Paul Bergin, 2003. "Monetary Policy, Investment Dynamics, And The Intertemporal Approach To The Current Account," Working Papers 110, University of California, Davis, Department of Economics.

  81. Patrick K. Asea & Enrique G. Mendoza & Gian Maria Milesi-Ferreti, 1995. "Do taxes matter for long-run growth?: Harberger's superneutrality conjecture," International Finance Discussion Papers 511, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Gian Maria Milesi-Ferrett & Nouriel Roubini, 1995. "Growth Effects of Income and Consumption Taxes: Positive and Normative Analysis," NBER Working Papers 5317, National Bureau of Economic Research, Inc.
    2. NANTOB, N'Yilimon, 2014. "Taxation and Economic Growth : An Empirical Analysis on Dynamic Panel Data of WAEMU Countries," MPRA Paper 61370, University Library of Munich, Germany, revised 30 Jan 2015.
    3. Zeng, Jinli, 2003. "Reexamining the interaction between innovation and capital accumulation," Journal of Macroeconomics, Elsevier, vol. 25(4), pages 541-560, December.
    4. Marcin Piatkowski & Mariusz Jarmuzek, 2008. "Zero Corporate Income Tax in Moldova: Tax Competition and Its Implications for Eastern Europe," IMF Working Papers 2008/203, International Monetary Fund.
    5. Zuzana Machová & Igor Kotlán, 2013. "Interakce zdanění, vládních výdajů a ekonomického růstu: panelový VAR model pro země OECD [Interaction of Taxation, Government Expenditure and Economic Growth: Panel VAR Model for OECD Countries]," Politická ekonomie, Prague University of Economics and Business, vol. 2013(5), pages 623-638.
    6. Jos E. Bosc & Jos R. Garc a & David Tag as, 2005. "Effective Tax rates and Fiscal Convergence in the OECD: 1965-2001," Hacienda Pública Española / Review of Public Economics, IEF, vol. 174(3), pages 119-141, September.
    7. Munir, Kashif & Sultan, Maryam, 2016. "Are Some Taxes Better for Growth in Pakistan?A Time Series Analysis," MPRA Paper 68828, University Library of Munich, Germany.
    8. Ahmed, Shaghil & Rogers, John H., 2000. "Inflation and the great ratios: Long term evidence from the U.S," Journal of Monetary Economics, Elsevier, vol. 45(1), pages 3-35, February.

  82. Mr. Guillermo Calvo & Mr. Enrique G. Mendoza, 1994. "Trade Reforms of Uncertain Duration and Real Uncertainty: A First Approximation," IMF Working Papers 1994/045, International Monetary Fund.

    Cited by:

    1. Irifaar SOMÉ & Windkouni Haoua Eugenie MAIGA, 2021. "Effets des prix relatifs des échanges sur la croissance économique en Afrique subsaharienne," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 54, pages 161-175.
    2. Daniel Ryan, 1998. "Optimum government credibility in an open-economy fiscal expansion," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 4(4), pages 305-317, November.
    3. Forteza, Alvaro & Patron, Rossana, 2003. "Trade Liberalisation with Costly Adjustment," Journal of Applied Economics, Universidad del CEMA, vol. 6(01), pages 1-31, May.
    4. Julio A. Santaella & Mr. Abraham Everardo Vela, 1996. "The 1987 Mexican Disinflation Program: An Exchange-Rate-Based Stabilization?," IMF Working Papers 1996/024, International Monetary Fund.
    5. Mendoza, Enrique G., 1997. "Terms-of-trade uncertainty and economic growth," Journal of Development Economics, Elsevier, vol. 54(2), pages 323-356, December.
    6. Buffie, Edward F., 1999. "Optimal trade liberalization and the welfare costs of imperfect credibility," Journal of International Economics, Elsevier, vol. 47(2), pages 371-398, April.
    7. Calvo, Guillermo A. & Mendoza, Enrique G., 1996. "Mexico's balance-of-payments crisis: a chronicle of a death foretold," Journal of International Economics, Elsevier, vol. 41(3-4), pages 235-264, November.
    8. Blejer, Mario I. & del Castillo, Graciana, 1998. ""Deja Vu all over again?": The Mexican crisis and the stabilization of Uruguay in the 1970s," World Development, Elsevier, vol. 26(3), pages 449-464, March.
    9. Kathleen Dorsainvil, 2006. "Exchange Rate Unification Under Non-Credibility: The Haïtian Economy," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 12(2), pages 229-240, May.
    10. Julio A. Santaella & Abraham E. Vela, 2005. "The 1987 Mexican Disinflation Program: An Exchange-rate-based Stabilization?," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(1), pages 5-40, January-J.
    11. Albuquerque, Rui & Rebelo, Sergio, 2000. "On the dynamics of trade reform," Journal of International Economics, Elsevier, vol. 51(1), pages 21-47, June.
    12. Ali Chebbi, 2015. "Stochastic growth, taxation policy and welfare cost in an open emerging economy," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 62(1), pages 57-84, March.

  83. Enrique G. Mendoza & Assaf Razin & Linda L. Tesar, 1994. "Effective Tax Rates in Macroeconomics: Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption," NBER Working Papers 4864, National Bureau of Economic Research, Inc.

    Cited by:

    1. Bellak, Christian & Leibrecht, Markus & Römisch, Roman, 2005. "A note on the appropriate measure of tax burden on Foreign Direct Investment to the CEECs," HWWA Discussion Papers 336, Hamburg Institute of International Economics (HWWA).
    2. Torsten Persson & Guido Tabellini, 1999. "Political Economics and Public Finance," NBER Working Papers 7097, National Bureau of Economic Research, Inc.
    3. European Commission, 2005. "Taxation trends in the European Union: 2005 edition," Taxation trends 2005, Directorate General Taxation and Customs Union, European Commission.
    4. Martin Iseringhausen & Hauke Vierke, 2018. "What Drives Output Volatility? The Role of Demographics and Government Size Revisited," European Economy - Discussion Papers 075, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    5. Yingying Deng & Monica Prasad, 2009. "Taxation and the Worlds of Welfare," LIS Working papers 480, LIS Cross-National Data Center in Luxembourg.
    6. Setty, Ofer, 2012. "Unemployment Accounts," Foerder Institute for Economic Research Working Papers 275765, Tel-Aviv University > Foerder Institute for Economic Research.
    7. Leal, Teresa & Pérez, Javier J. & Tujula, Mika & Vidal, Jean-Pierre, 2007. "Fiscal forecasting: lessons from the literature and challenges," Working Paper Series 843, European Central Bank.
    8. Hamza Polattimur, 2013. "Housing, Collateral Constraints, and Fiscal Policy," Ekonomi-tek - International Economics Journal, Turkish Economic Association, vol. 2(2), pages 53-82, May.
    9. Michael Devereux, 2003. "Measuring taxes on income from capital," IFS Working Papers W03/04, Institute for Fiscal Studies.
    10. Casey B. Mulligan, 2002. "Capital, Interest, and Aggregate Intertemporal Substitution," NBER Working Papers 9373, National Bureau of Economic Research, Inc.
    11. Shatalovа, Svetlana (Шаталова, Светлана) & Korytin, Andrey (Корытин, Андрей) & Zakharenkova, Elena (Захаренкова, Елена), 2017. "Analysis of Approaches to Determining the Level of Tax Burden [Анализ Подходов К Определению Уровня Налоговой Нагрузки В Экономике]," Working Papers 041704, Russian Presidential Academy of National Economy and Public Administration.
    12. Patrick K. Asea & Enrique G. Mendoza & Gian Maria Milesi-Ferreti, 1995. "Do taxes matter for long-run growth?: Harberger's superneutrality conjecture," International Finance Discussion Papers 511, Board of Governors of the Federal Reserve System (U.S.).
    13. Nukic, Senada, 2014. "Fiscal Consolidation and Employment Loss," MPRA Paper 60224, University Library of Munich, Germany.
    14. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    15. Stéphane Pallage & Lyle Scruggs & Christian Zimmermann, 2009. "Measuring Unemployment Insurance Generosity," Cahiers de recherche 0921, CIRPEE.
    16. Honerkamp, Josef & Moog, Stefan & Raffelhüschen, Bernd, 2004. "Earlier or Later: A General Equilibrium Analysis of Bringing Forward an Already Announced Tax Reform," Discussion Papers 123, Albert-Ludwigs-Universität Freiburg, Institut für Finanzwissenschaft.
    17. Ladislav Hájek, 2003. "Daňové zatížení v zemích OECD a v České republice [Tax burden in OECD countries and in the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2003(5), pages 714-725.
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    Cited by:

    1. Nicodeme, Gaetan, 2002. "Sector and size effects on effective corporate taxation," MPRA Paper 15781, University Library of Munich, Germany.
    2. Nicodeme, Gaetan, 2001. "Computing effective corporate tax rates: comparisons and results," MPRA Paper 3808, University Library of Munich, Germany.

  85. Enrique G. Mendoza, 1994. "Terms-of-trade uncertainty and economic growth: are risk indicators significant in growth regressions?," International Finance Discussion Papers 491, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Ricardo Hausmann & Michael Gavin, 1996. "Securing Stability and Growth in a Shock Prone Region: The Policy Challenge for Latin America," Research Department Publications 4020, Inter-American Development Bank, Research Department.
    2. Stephen Turnovsky & Pradip Chattopadhyay, 1998. "Volatility and Growth in Developing Economies: Some Numerical Results and Empirical Evidence," Working Papers 0055, University of Washington, Department of Economics.
    3. Stefano ATHANASOULIS & Eric VAN WINCOOP, 1997. "Growth Uncertainty And Risksharing," Economic Report 41, Iowa State University Department of Economics.
    4. Ahmed, Abdullahi D. & Suardi, Sandy, 2009. "Macroeconomic Volatility, Trade and Financial Liberalization in Africa," World Development, Elsevier, vol. 37(10), pages 1623-1636, October.
    5. Ricardo Hausmann & Michael Gavin, 1996. "Asegurar la estabilidad y el crecimiento en una región propensa a las sacudidas: los retos de políticas para América Latina," Research Department Publications 4021, Inter-American Development Bank, Research Department.

  86. Patrick K. Asea & Mr. Enrique G. Mendoza, 1994. "Do Long-Run Productivity Differentials Explain Long-Run Real Exchange Rates?," IMF Working Papers 1994/060, International Monetary Fund.

    Cited by:

    1. Mariam Camarero & Javier Ordóñez & Cecilio Tamarit, 2002. "The Euro-Dollar exchange rate: Is it fundamental?," European Economy Group Working Papers 16, European Economy Group.
    2. Velimir Šonje & Igeta Vrbanc, 2000. "Measuring the Similarities of Economic Developments in Central Europe: A Correlation between the Business Cycles of Germany, Hungary, the Czech Republic and Croatia," Working Papers 3, The Croatian National Bank, Croatia.
    3. Mark Taylor, 2006. "Real exchange rates and Purchasing Power Parity: mean-reversion in economic thought," Applied Financial Economics, Taylor & Francis Journals, vol. 16(1-2), pages 1-17.
    4. Nathalie Avallone & Amina Lahreche-Revil, 1999. "Le taux de change réel d'équilibre dans les pays en transition : le cas de la Hongrie," Cahiers de la Maison des Sciences Economiques bla99091, Université Panthéon-Sorbonne (Paris 1).
    5. Chinn, Menzie David, 1997. "Paper pushers or paper money? Empirical assessment of fiscal and monetary models of exchange rate determination," Journal of Policy Modeling, Elsevier, vol. 19(1), pages 51-78, February.
    6. Camarero, Mariam & Tamarit, Cecilio, 2002. "A panel cointegration approach to the estimation of the peseta real exchange rate," Journal of Macroeconomics, Elsevier, vol. 24(3), pages 371-393, September.
    7. Nathalie Avallone & Amina Lahrèche-Révil, 1999. "Le taux de change réel d’équilibre dans les pays en transition : le cas de la Hongrie," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03598288, HAL.
    8. Hacker, Scott & Kim, Hyunjoo & Månsson, Kristofer, 2010. "The Relationship between Exchange Rates and Interest Rate Differentials: a Wavelet Approach," Working Paper Series in Economics and Institutions of Innovation 217, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    9. Menzie Chinn, 1995. "Whither the Yen? Implications of an intertemporal model of the Yen/Dollar rate," International Finance 9508001, University Library of Munich, Germany, revised 28 Aug 1995.
    10. Nathalie Avallone & Amina Lahrèche-Révil, 1999. "Le taux de change réel d’équilibre dans les pays en transition : le cas de la Hongrie," Post-Print halshs-03598288, HAL.
    11. Camarero, Mariam & Tamarit, Cecilio, 2002. "Oil prices and Spanish competitiveness: A cointegrated panel analysis," Journal of Policy Modeling, Elsevier, vol. 24(6), pages 591-605, October.

  87. Ms. Linda L. Tesa & Mr. Enrique G. Mendoza, 1993. "Supply-Side Economics in an Integrated World Economy," IMF Working Papers 1993/081, International Monetary Fund.

    Cited by:

    1. Enrique G. Mendoza & Assaf Razin & Linda L. Tesar, 1994. "Effective Tax Rates in Macroeconomics: Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption," NBER Working Papers 4864, National Bureau of Economic Research, Inc.
    2. Török, Ádám, 1997. "Mire alkalmas a kínálatorientációs gazdaságpolitika? [What is a supply-oriented economic policy good for?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 821-847.

  88. Assaf Razin & Mr. Enrique G. Mendoza & Ms. Linda L. Tesa, 1993. "A Comparative Analysis of the Structure of Tax Systems in Industrial Countries," IMF Working Papers 1993/014, International Monetary Fund.

    Cited by:

    1. Razin, Assaf & Yuen, Chi-Wa, 1996. "Capital income taxation and long-run growth: New perspectives," Journal of Public Economics, Elsevier, vol. 59(2), pages 239-263, February.
    2. Lemgruber, Andréa Texeira, 1995. "Tributaçao efetiva: um estudo sobre taxaçao do consumo, do trabalho e do capital no Brasil," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34227, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

  89. Mr. Enrique G. Mendoza, 1992. "A Quantitative Examination of Current Account Dynamics in Equilibrium Models of Barter Economies," IMF Working Papers 1992/014, International Monetary Fund.

    Cited by:

    1. Jaime Guajardo & Guillermo Le Fort, 1999. "Cuenta Corriente y Desvíos Transitorios en Términos de Intercambio y Volúmenes de Exportaciones: Chile 1985-1999," Working Papers Central Bank of Chile 49, Central Bank of Chile.

  90. Mr. Enrique G. Mendoza, 1992. "The Terms of Trade and Economic Fluctuations," IMF Working Papers 1992/098, International Monetary Fund.

    Cited by:

    1. Paul Cashin & C. McDermott, 2002. "Terms of Trade Shocks and the Current Account: Evidence from Five Industrial Countries," Open Economies Review, Springer, vol. 13(3), pages 219-235, July.
    2. Mr. Paul Cashin & Mr. C. John McDermott, 1998. "Terms of Trade Shocks and the Current Account," IMF Working Papers 1998/177, International Monetary Fund.
    3. Assaf Razin, 1993. "The Dynamic-Optimizing Approach to the Current Account: Theory and Evidence," NBER Working Papers 4334, National Bureau of Economic Research, Inc.
    4. Paul Cashin & C. John McDermott, 2003. "Intertemporal Substitution and Terms‐of‐Trade Shocks," Review of International Economics, Wiley Blackwell, vol. 11(4), pages 604-618, September.
    5. Bernardin Akitoby, 1997. "Termes de l'échange endogène et cycles économiques réels : une application à la Côte-d'Ivoire," Revue Économique, Programme National Persée, vol. 48(6), pages 1485-1508.
    6. Dudley, L., 1980. "Macroeconomic Interdependence and the Terms of Trade," Cahiers de recherche 8014, Universite de Montreal, Departement de sciences economiques.
    7. Mupu Mamputu, Élie, 2020. "Termes de l'échange, balance commerciale et performances économiques : examen de l'effet Harberger - Laursen - Metzler en République Démocratique du Congo [Terms of trade, trade balance and economic performance : examination of the Harberger -Laur," MPRA Paper 99342, University Library of Munich, Germany, revised Jan 2020.
    8. Osman Suliman, 2003. "Endogenous Restrictions for Least Developed Economies," Review of International Economics, Wiley Blackwell, vol. 11(2), pages 423-434, May.
    9. David K. Backus & Patrick J. Kehoe & Finn E. Kydland, 1992. "Relative price movements in dynamic general equilibrium models of international trade," Working Papers (Old Series) 9213, Federal Reserve Bank of Cleveland.
    10. AKITOBY, Bernardin, 1997. "Termes de l'échange endogènes et cycles économiques réels : une application à la Côte-d'Ivoire," Cahiers de recherche 9701, Universite de Montreal, Departement de sciences economiques.
    11. International Monetary Fund, 1999. "Macroeconomic and Sectoral Effects of Terms-of-Trade Shocks: The Experience of the Oil-Exporting Developing Countries," IMF Working Papers 1999/134, International Monetary Fund.
    12. Michel A. Robe & Stephane Pallage, 2000. "Foreign Aid And The Business Cycle," Computing in Economics and Finance 2000 107, Society for Computational Economics.

  91. Mr. Enrique G. Mendoza, 1992. "Robustness of Macroeconomic Indicators of Capital Mobility," IMF Working Papers 1992/111, International Monetary Fund.

    Cited by:

    1. Tuvshintugs Batdelger & Magda Kandil, 2012. "Determinants of the current account balance in the United States," Applied Economics, Taylor & Francis Journals, vol. 44(5), pages 653-669, February.
    2. Mr. Atish R. Ghosh & Mr. Jonathan David Ostry, 1993. "Do Capital Flows Reflect Economic Fundamentals in Developing Countries?," IMF Working Papers 1993/034, International Monetary Fund.
    3. Mr. Marco Terrones & Mr. Eswar S Prasad & Mr. Ayhan Kose, 2003. "Financial Integration and Macroeconomic Volatility," IMF Working Papers 2003/050, International Monetary Fund.
    4. Kose, M. Ayhan & Prasad, Eswar & Terrones, Marco E., 2006. "How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility?," IZA Discussion Papers 2252, IZA Network @ LISER.
    5. Te Lai, 2015. "Regional Capital Mobility in China: An Endogenous Parameter Approach," Applied Economics and Finance, Redfame publishing, vol. 2(3), pages 63-75, August.
    6. Andrew K. Rose & Mark M. Spiegel, 2007. "International financial remoteness and macroeconomic volatility," Working Paper Series 2008-01, Federal Reserve Bank of San Francisco.
    7. Mirdala, Rajmund & Svrčeková, Aneta, 2014. "Financial Integration, Volatility of Financial Flows and Macroeconomic Volatility," MPRA Paper 61845, University Library of Munich, Germany.
    8. Morris Goldstein & Michael Mussa, 1993. "The integration of world capital markets," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 245-330.
    9. Mr. Ayhan Kose & Mr. Marco Terrones & Mr. Eswar S Prasad, 2003. "Volatility and Comovement in a Globalized World Economy: An Empirical Exploration," IMF Working Papers 2003/246, International Monetary Fund.
    10. Diego Valderrama, 2003. "Statistical Nonlinearities in the Business Cycle," Computing in Economics and Finance 2003 219, Society for Computational Economics.
    11. Moore, Winston, 2010. "Managing the Process of Removing Capital Controls: What Does the Literature Suggest?," MPRA Paper 21584, University Library of Munich, Germany.
    12. Ester Faia, 2007. "Welfare Implications of Capital Account Liberalization," CEIS Research Paper 92, Tor Vergata University, CEIS.
    13. Garrison Hongyu Song, 2022. "Capital Mobility vs. Labor Mobility:Theory and Implications," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 12(4), pages 47-55, July.
    14. George Furstenberg, 1998. "From Worldwide Capital Mobility to International Financial Integration: A Review Essay," Open Economies Review, Springer, vol. 9(1), pages 53-84, January.
    15. Susanto Basu & Alan M. Taylor, 1999. "Business Cycles in International Historical Perspective," NBER Working Papers 7090, National Bureau of Economic Research, Inc.
    16. Eozenou, Patrick, 2008. "Financial Integration and Macroeconomic Volatility: Does Financial Development Matter?," MPRA Paper 12738, University Library of Munich, Germany.

  92. Mr. Enrique G. Mendoza, 1991. "Efficient Arbitrage Under Financial Indexation: The Case of Chile," IMF Working Papers 1991/049, International Monetary Fund.

    Cited by:

    1. Eduardo Walker, 2002. "The Chilean Experience in Completing Markets with Financial Indexation," Central Banking, Analysis, and Economic Policies Book Series, in: Fernando Lefort & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Serie (ed.),Indexation, Inflation and Monetary Policy, edition 1, volume 2, chapter 9, pages 259-294, Central Bank of Chile.
    2. Oscar Landerretche & Fernando Lefort & Rodrigo O. Valdés, 2002. "Causes and Consequences of Indexation: A Review of the Literature," Central Banking, Analysis, and Economic Policies Book Series, in: Fernando Lefort & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Serie (ed.),Indexation, Inflation and Monetary Policy, edition 1, volume 2, chapter 2, pages 019-064, Central Bank of Chile.

  93. Mendoza, E.G., 1989. "Business Cycles, Adjustment Costs An The Theory Of Investment In Small Open Economy," University of Western Ontario, Departmental Research Report Series 8906, University of Western Ontario, Department of Economics.

    Cited by:

    1. Kollmann, Robert, 1991. ""Essays on International Business Cycles", PhD thesis, Economics Department, University of Chicago, 1991," MPRA Paper 69905, University Library of Munich, Germany.

  94. Mendoza, E.G., 1989. "Real Business Cycles in a Small Open Economy: The Canadian Case," University of Western Ontario, Departmental Research Report Series 8902, University of Western Ontario, Department of Economics.

    Cited by:

    1. Jeremy Greenwood & Gregory W. Huffman, 1991. "Tax analysis in a real business cycle model: on measuring Harberger triangles and Okun gaps," Staff Report 138, Federal Reserve Bank of Minneapolis.
    2. Kollmann, Robert, 1991. ""Essays on International Business Cycles", PhD thesis, Economics Department, University of Chicago, 1991," MPRA Paper 69905, University Library of Munich, Germany.

  95. Mendoza, E.G., 1989. "A Quantitative Investigation Of The Macroeconomic Effects Of Capital Controls And The Stabilization Of Balance Of Trade," University of Western Ontario, Departmental Research Report Series 8908, University of Western Ontario, Department of Economics.

    Cited by:

    1. Harold L. Cole & Maurice Obstfeld, 1989. "Commodity Trade and International Risk Sharing: How Much Do Financial Markets Matter?," NBER Working Papers 3027, National Bureau of Economic Research, Inc.

Articles

  1. D’Erasmo, Pablo & Mendoza, Enrique G., 2021. "History remembered: Optimal sovereign default on domestic and external debt," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 969-989.
    See citations under working paper version above.
  2. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    See citations under working paper version above.
  3. Enrique Mendoza & Sergio Villalvazo, 2020. "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 81-102, July.
    See citations under working paper version above.
  4. Laura Alfaro & Enrique Mendoza, 2020. "Current Policy Challenges Facing Emerging Markets," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 453-455, September.

    Cited by:

    1. Bampi, Rodrigo E. & Colombo, Jefferson A., 2021. "Heterogeneous effects of foreign exchange appreciation on industrial output: Evidence from disaggregated manufacturing data," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 431-451.

  5. Enrique G. Mendoza & Eugenio Rojas, 2019. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(1), pages 174-214, March.
    See citations under working paper version above.
  6. Javier Bianchi & Enrique G. Mendoza, 2018. "Optimal Time-Consistent Macroprudential Policy," Journal of Political Economy, University of Chicago Press, vol. 126(2), pages 588-634.
    See citations under working paper version above.
  7. Juan M. Hernandez & Enrique G. Mendoza, 2017. "Optimal v. simple financial policy rules in a production economy with “liability dollarization," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 35(82), pages 25-39, April.

    Cited by:

    1. Herreño, Juan & Rondón-Moreno, Carlos, 2025. "Overborrowing and systemic externalities in the business cycle under imperfect information," Journal of International Economics, Elsevier, vol. 157(C).
    2. Biljanovska, Nina & Vardoulakis, Alexandros P., 2024. "Sudden Stops and optimal policy in a two-agent economy," Journal of International Economics, Elsevier, vol. 148(C).
    3. Acosta-Henao, Miguel & Alfaro, Laura & Fernández, Andrés, 2025. "Sticky capital controls," Journal of International Economics, Elsevier, vol. 157(C).
    4. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
    5. Enrique G. Mendoza & Eugenio I. Rojas, 2018. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," NBER Working Papers 24336, National Bureau of Economic Research, Inc.
    6. Enrique G. Mendoza, 2017. "Política macroprudencial: promesas y desafíos," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(2), pages 042-088, August.
    7. Javier Bianchi & Enrique G. Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," NBER Working Papers 26915, National Bureau of Economic Research, Inc.

  8. Bianchi, Javier & Liu, Chenxin & Mendoza, Enrique G., 2016. "Fundamentals news, global liquidity and macroprudential policy," Journal of International Economics, Elsevier, vol. 99(S1), pages 2-15.
    See citations under working paper version above.
  9. Pablo D'Erasmo & Enrique G. Mendoza, 2016. "Distributional Incentives In An Equilibrium Model Of Domestic Sovereign Default," Journal of the European Economic Association, European Economic Association, vol. 14(1), pages 7-44, February.
    See citations under working paper version above.
  10. Boz, Emine & Mendoza, Enrique G., 2014. "Financial innovation, the discovery of risk, and the U.S. credit crisis," Journal of Monetary Economics, Elsevier, vol. 62(C), pages 1-22.
    See citations under working paper version above.
  11. Anton Korinek & Enrique G. Mendoza, 2014. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy," Annual Review of Economics, Annual Reviews, vol. 6(1), pages 299-332, August.

    Cited by:

    1. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
    2. Johannes Matschke, 2021. "Macroprudential Policy Interlinkages," Research Working Paper RWP 21-10, Federal Reserve Bank of Kansas City.
    3. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    4. Ozge Akinci & Ryan Chahrour, 2014. "Good News is Bad News: Leverage Cycles and Sudden Stops," Boston College Working Papers in Economics 866, Boston College Department of Economics, revised 30 Apr 2015.
    5. Franz Hamann & Jesús Bejarano & Diego Rodríguez, 2015. "Monetary policy implications for an oil-exporting economy of lower long-run international oil prices," Borradores de Economia 871, Banco de la Republica de Colombia.
    6. Pierre-Olivier Gourinchas & Thomas Philippon & Dimitri Vayanos, 2016. "The Analytics of the Greek Crisis," NBER Chapters, in: NBER Macroeconomics Annual 2016, Volume 31, pages 1-81, National Bureau of Economic Research, Inc.
    7. Ma, Chang, 2020. "Financial stability, growth and macroprudential policy," Journal of International Economics, Elsevier, vol. 122(C).
    8. Anton Korinek & Jonathan Kreamer, 2014. "The redistributive effects of financial deregulation: wall street versus main street," BIS Working Papers 468, Bank for International Settlements.
    9. Biljanovska, Nina & Vardoulakis, Alexandros P., 2024. "Sudden Stops and optimal policy in a two-agent economy," Journal of International Economics, Elsevier, vol. 148(C).
    10. Acosta-Henao, Miguel & Alfaro, Laura & Fernández, Andrés, 2025. "Sticky capital controls," Journal of International Economics, Elsevier, vol. 157(C).
    11. Gomez-Gonzalez, Jose E. & Valencia, Oscar M. & Sánchez, Gustavo A., 2022. "How fiscal rules can reduce sovereign debt default risk," Emerging Markets Review, Elsevier, vol. 50(C).
    12. Kónya, István & Váry, Miklós, 2024. "Which sectors go on when there is a sudden stop? An empirical analysis," Journal of International Money and Finance, Elsevier, vol. 146(C).
    13. Chin‐Yoong Wong & Yoke‐Kee Eng, 2020. "P2P finance and the effectiveness of monetary controls," Manchester School, University of Manchester, vol. 88(4), pages 617-639, July.
    14. Edd Denbee & Carsten Jung & Francesco Paternò, 2016. "Stitching together the global financial safety net," Bank of England Financial Stability Papers 36, Bank of England.
    15. Dur, Ayşe & Glover, Andrew & Rothert, Jacek, 2025. "Uninsurable income risk and the welfare effects of reducing global imbalances," European Economic Review, Elsevier, vol. 179(C).
    16. Chuliá, Helena & Fernández, Julián & Uribe, Jorge M., 2018. "Currency downside risk, liquidity, and financial stability," Journal of International Money and Finance, Elsevier, vol. 89(C), pages 83-102.
    17. Davis, J. Scott & Devereux, Michael B. & Yu, Changhua, 2023. "Sudden stops and optimal foreign exchange intervention," Journal of International Economics, Elsevier, vol. 141(C).
    18. Filippo Balestrieri & Mr. Suman S Basu, 2018. "An Imperfect Financial Union With Heterogeneous Regions," IMF Working Papers 2018/205, International Monetary Fund.
    19. Bianchi, Javier & Liu, Chenxin & Mendoza, Enrique G., 2016. "Fundamentals news, global liquidity and macroprudential policy," Journal of International Economics, Elsevier, vol. 99(S1), pages 2-15.
    20. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    21. Petroulakis, Filippos, 2017. "Internal devaluation in currency unions: the role of trade costs and taxes," Working Paper Series 2049, European Central Bank.
    22. Mateane, Lebogang, 2023. "Risk preferences, global market conditions and foreign debt: Is there any role for the currency composition of FX reserves?," Research in Economics, Elsevier, vol. 77(3), pages 402-418.
    23. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2024. "Repayment of EU Bailout Loans in a Member-Country of the ES: The Case of Greece," CESifo Working Paper Series 11519, CESifo.
    24. Jianjun Miao & Pengfei Wang & Jing Zhou, 2022. "Asset Bubbles and Foreign Interest Rate Shocks," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 44, pages 315-348, April.
    25. Korinek, Anton & Kreamer, Jonathan, 2014. "The redistributive effects of financial deregulation," Journal of Monetary Economics, Elsevier, vol. 68(S), pages 55-67.
    26. Akihiko Ikeda, 2020. "Currency Swap Agreements and Financial Crises in Small Open Economies," KIER Working Papers 1033, Kyoto University, Institute of Economic Research.
    27. Cuadra, Gabriel & Menna, Lorenzo, 2019. "Capital flows and the business cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 106(C), pages 1-1.
    28. Pedro Gete & Michael Reher, 2016. "Two Extensive Margins of Credit and Loan‐to‐Value Policies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(7), pages 1397-1438, October.
    29. Gourinchas, Pierre-Olivier & Philippon, Thomas & Vayanos, Dimitri, 2016. "The analytics of the Greek crisis: celebratory centenary issue," LSE Research Online Documents on Economics 67368, London School of Economics and Political Science, LSE Library.
    30. Ioannides, Yannis & Philippon, Presenter Thomas & Gourinchas, Pierre-Olivier & Blanchard, Olivier & Steinsson, Jon & Uhlig, Harald & Alvarez, Fernando & Reis, Ricardo & Klein, Michael, 2017. "The Analytics of the Greek Crisis Discussion," Department of Economics, Working Paper Series qt4z39g6vx, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    31. Lorenzo Menna & Martin Tobal, 2018. "Financial and price stability in emerging markets: the role of the interest rate," BIS Working Papers 717, Bank for International Settlements.
    32. Valerio Nispi Landi & Alessandro Schiavone, 2021. "The Effectiveness of Capital Controls," Open Economies Review, Springer, vol. 32(1), pages 183-211, February.
    33. Grant, Everett, 2016. "Exposure to international crises: trade vs. financial contagion," ESRB Working Paper Series 30, European Systemic Risk Board.
    34. Vasiliki Dimakopoulou, 2021. "Stationarity-Inducing Techniques in Small Open Economy Models with Collateral Constraints," Open Economies Review, Springer, vol. 32(4), pages 725-738, September.
    35. Gabriel Rodriguez & Paul Castillo B. & Junior A. Ojeda Cunya, 2024. "Time-Varying Effects of External Shocks on Macroeconomic Fluctuations in Peru: An Empirical Application using TVP-VAR-SV Models," Open Economies Review, Springer, vol. 35(5), pages 1015-1050, November.
    36. Ottonello, Pablo, 2021. "Optimal exchange-rate policy under collateral constraints and wage rigidity," Journal of International Economics, Elsevier, vol. 131(C).
    37. Scheubel, Beatrice & Herrala, Risto & Stracca, Livio, 2016. "What do we know about the global financial safety net? Data, rationale and possible evolution," VfS Annual Conference 2016 (Augsburg): Demographic Change 145676, Verein für Socialpolitik / German Economic Association.
    38. Stracca, Livio & Scheubel, Beatrice, 2016. "What do we know about the global financial safety net? Rationale, data and possible evolution," Occasional Paper Series 177, European Central Bank.
    39. Chin-Yoong Wong & Yoke-Kee Eng, 2015. "Surviving Asymmetry in Capital Flows and the Business Cycles: The Role of Prudential Capital Controls," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 545-563, August.
    40. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    41. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis & Vassilatos, Vanghelis, 2024. "Can central banks do the unpleasant job that governments should do?," European Economic Review, Elsevier, vol. 165(C).
    42. Chen, Been-Lon & Hu, Yunfang & Mino, Kazuo, 2025. "Capital flows and wealth distribution in a global economy with asymmetric countries," Economic Modelling, Elsevier, vol. 151(C).
    43. Korinek, Anton & Sandri, Damiano, 2016. "Capital controls or macroprudential regulation?," Journal of International Economics, Elsevier, vol. 99(S1), pages 27-42.
    44. Bank for International Settlements, 2021. "Assessing the impact of Basel III: Evidence from macroeconomic models: literature review and simulations," BCBS Working Papers 38, Bank for International Settlements.
    45. Bank for International Settlements, 2021. "Changing patterns of capital flows," CGFS Papers, Bank for International Settlements, number 66.
    46. Santiago Camara & Maximo Sangiacomo, 2022. "Borrowing Constraints in Emerging Markets," Papers 2211.10864, arXiv.org.
    47. Bingbing Dong & Jieran Wu & Eric Young, 2023. "The Role of Collateral in Sudden Stop Models," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 31(6), pages 79-110, November.
    48. Joaquin Blaum, 2018. "Global Firms in Large Devaluations," 2018 Meeting Papers 593, Society for Economic Dynamics.
    49. Korinek, Anton, 2018. "Regulating capital flows to emerging markets: An externality view," Journal of International Economics, Elsevier, vol. 111(C), pages 61-80.
    50. Been-Lon Chen & Yunfang Hu & Kazuo Mino, 2020. "Capital Allocation and Wealth Distribution in a Global Economy with Financial Frictions," KIER Working Papers 1045, Kyoto University, Institute of Economic Research.
    51. Cecilia Dassatti & Rodrigo Lluberas & Pablo Ottonello & Diego J. Perez, 2026. "Sudden Stops under the Microscope: Evidence from Uruguay," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 74(1), pages 61-94, March.
    52. JaeBin Ahn & Youngju Kim & Hyunjoon Lim, 2022. "For Whom the Levy Tolls: The Case of a Macroprudential Stability Levy in South Korea," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(3), pages 520-559, September.
    53. Chang Ma & Shang-Jin Wei, 2020. "International Equity and Debt Flows: Composition, Crisis, and Controls," NBER Working Papers 27129, National Bureau of Economic Research, Inc.
    54. Ikeda, Akihiko, 2017. "Trade balance volatility and consumption structures in small open economies," Economics Letters, Elsevier, vol. 156(C), pages 114-117.
    55. Javier Bianchi & Enrique G. Mendoza, 2015. "Phases of Global Liquidity, Fundamentals News, and the Design of Macroprudential Policy," BIS Working Papers 505, Bank for International Settlements.
    56. Romanos Priftis, 2017. "Deposit Flight and Capital Controls: A Tale from Greece," Economics Series Working Papers 822, University of Oxford, Department of Economics.
    57. Beatrice D. Scheubel & Livio Stracca, 2016. "What Do We Know About the Global Financial Safety Net? A New Comprehensive Data Set," CESifo Working Paper Series 6184, CESifo.
    58. Chokri Zehri, 2020. "Policies for managing sudden stops," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(1), pages 9-33.
    59. Chi, Chun-Che, 2026. "Lender concentration of external debts and sudden stops," Journal of Monetary Economics, Elsevier, vol. 157(C).
    60. Yang, Qiuju & Yu, Bo & Yang, Quan & Guan, Chao, 2025. "Taxation on cross-border capital flows, foreign exchange reserves rescue and risk prevention," International Review of Economics & Finance, Elsevier, vol. 99(C).
    61. Eng, Yoke-Kee & Wong, Chin-Yoong, 2016. "Asymmetric growth effect of capital flows: Evidence and quantitative theory," Economic Systems, Elsevier, vol. 40(1), pages 64-81.
    62. Chen, Fengxian & Feng, Wenhua & Dong, Jingyi & Wang, Yuan, 2025. "The sudden stops of international capital flows and corporate financing constraints——An empirical analysis based on global listed companies," Journal of International Money and Finance, Elsevier, vol. 158(C).

  12. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    See citations under working paper version above.
  13. Durdu, C. Bora & Mendoza, Enrique G. & Terrones, Marco E., 2013. "On the solvency of nations: Cross-country evidence on the dynamics of external adjustment," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 762-780.
    See citations under working paper version above.
  14. Ilzetzki, Ethan & Mendoza, Enrique G. & Végh, Carlos A., 2013. "How big (small?) are fiscal multipliers?," Journal of Monetary Economics, Elsevier, vol. 60(2), pages 239-254.
    See citations under working paper version above.
  15. Atish R. Ghosh & Jun I. Kim & Enrique G. Mendoza & Jonathan D. Ostry & Mahvash S. Qureshi, 2013. "Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies," Economic Journal, Royal Economic Society, vol. 0, pages 4-30, February.
    See citations under working paper version above.
  16. Enrique G. Mendoza, 2013. "The US Fiscal Crisis: The Debt Sustainability Delusion and the True Costs of Fiscal Austerity," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(02), pages 25-31, August.

    Cited by:

    1. Cascio, Iolanda Lo, 2015. "A wavelet analysis of US fiscal sustainability," Economic Modelling, Elsevier, vol. 51(C), pages 33-37.

  17. Javier Bianchi & Emine Boz & Enrique Gabriel Mendoza, 2012. "Macroprudential Policy in a Fisherian Model of Financial Innovation," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 60(2), pages 223-269, July.
    See citations under working paper version above.
  18. Enrique G. Mendoza & Marco E. Terrones, 2012. "An Anatomy of Credits Booms and their Demise," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 15(2), pages 04-32, August.
    See citations under working paper version above.
  19. Enrique G. Mendoza & Vivian Z. Yue, 2012. "A General Equilibrium Model of Sovereign Default and Business Cycles," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(2), pages 889-946.
    See citations under working paper version above.
  20. Yuriy Gorodnichenko & Enrique G. Mendoza & Linda L. Tesar, 2012. "The Finnish Great Depression: From Russia with Love," American Economic Review, American Economic Association, vol. 102(4), pages 1619-1644, June.
    See citations under working paper version above.
  21. Enrique G. Mendoza, 2010. "Sudden Stops, Financial Crises, and Leverage," American Economic Review, American Economic Association, vol. 100(5), pages 1941-1966, December.

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    1. Lopez-Martin, Bernabe & Leal, Julio & Martinez Fritscher, Andre, 2019. "Commodity price risk management and fiscal policy in a sovereign default model," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 304-323.
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    4. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    5. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
    6. Gabriel Chodorow-Reich & Loukas Karabarbounis & Rohan Kekre, 2019. "The Macroeconomics of the Greek Depression," Working Papers 758, Federal Reserve Bank of Minneapolis.
    7. Burger, Martijn J. & Ianchovichina, Elena I., 2014. "Surges and stops in FDI flows to developing countries : does the mode of entry make a difference ?," Policy Research Working Paper Series 6771, The World Bank.
    8. Eguren-Martin, Fernando & O'Neill, Cian & Sokol, Andrej & von dem Berge, Lukas, 2024. "Capital flows-at-risk: Push, pull and the role of policy," Journal of International Money and Finance, Elsevier, vol. 147(C).
    9. Olga Bogach & Ilan Noy, 2012. "Fire-Sale FDI? The Impact of Financial Crisis on Foreign Direct Investment," Working Papers 201205, University of Hawaii at Manoa, Department of Economics.
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    11. Herreño, Juan & Rondón-Moreno, Carlos, 2025. "Overborrowing and systemic externalities in the business cycle under imperfect information," Journal of International Economics, Elsevier, vol. 157(C).
    12. Damián Pierri, 2021. "Memory, multiple equilibria and emerging market crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
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    241. Silvana Bartoletto & Bruno Chiarini & Elisabetta Marzano & Paolo Piselli, 2017. "Business Cycles, Credit Cycles, and Bank Holdings of Sovereign Bonds: Historical Evidence for Italy 1861-2013," Quaderni di storia economica (Economic History Working Papers) 43, Bank of Italy, Economic Research and International Relations Area.
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    251. Marian Leimbach & Nico Bauer, 2022. "Capital markets and the costs of climate policies," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 24(3), pages 397-420, July.
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  27. Mendoza, Enrique G. & Ostry, Jonathan D., 2008. "International evidence on fiscal solvency: Is fiscal policy "responsible"?," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1081-1093, September.
    See citations under working paper version above.
  28. Devereux, Michael B. & Mendoza, Enrique G., 2006. ""Emerging markets and macroeconomic volatility: Lessons from a decade of financial debacles", a symposium for the Journal of International Economics," Journal of International Economics, Elsevier, vol. 69(1), pages 1-5, June.

    Cited by:

    1. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    2. Naanwaab Cephas B. & Edwards Jeffrey A., 2017. "Analyzing Trade Growth Effects of Deviations from Long-run Economic Growth," Global Economy Journal, De Gruyter, vol. 17(4), pages 1-11, December.
    3. Jose R. Sanchez-Fung, 2008. "The day-to-day interbank market, volatility, and central bank intervention in a developing economy," Economics Discussion Papers 2008-2, School of Economics, Kingston University London.
    4. Jose Sanchez-Fung, 2008. "Modelling the term structure of interest rates in a small emerging market economy," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 1(1), pages 93-103.
    5. EDWARDS, Jeffrey A., 2010. "GDP Growth Volatility and Regional Free Trade Agreements," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 10(2), pages 73-86.

  29. Durdu, Ceyhun Bora & Mendoza, Enrique G., 2006. "Are asset price guarantees useful for preventing Sudden Stops?: A quantitative investigation of the globalization hazard-moral hazard tradeoff," Journal of International Economics, Elsevier, vol. 69(1), pages 84-119, June.
    See citations under working paper version above.
  30. Enrique G. Mendoza, 2006. "Lessons from the Debt-Deflation Theory of Sudden Stops," American Economic Review, American Economic Association, vol. 96(2), pages 411-416, May.
    See citations under working paper version above.
  31. Mendoza, Enrique G. & Smith, Katherine A., 2006. "Quantitative implications of a debt-deflation theory of Sudden Stops and asset prices," Journal of International Economics, Elsevier, vol. 70(1), pages 82-114, September.
    See citations under working paper version above.
  32. Enrique G. Mendoza, 2005. "Real Exchange Rate Volatility and the Price of Nontradable Goods in Economies Prone to Sudden Stops," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2005), pages 103-148.

    Cited by:

    1. Olivier Jeanne & Anton Korinek, 2010. "Managing Credit Booms and Busts: A Pigouvian Taxation Approach," NBER Working Papers 16377, National Bureau of Economic Research, Inc.
    2. Kumhof, Michael & Li, Shujing & Yan, Isabel, 2007. "Balance of payments crises under inflation targeting," Journal of International Economics, Elsevier, vol. 72(1), pages 242-264, May.
    3. Felipe Benguria & Felipe Saffie & Hidehiko Matsumoto, 2019. "Productivity and Trade Dynamics in Sudden Stops," 2019 Meeting Papers 1378, Society for Economic Dynamics.
    4. David Parsley & Helen Popper, 2010. "Understanding Real Exchange Rate Movements With Trade In Intermediate Products," Pacific Economic Review, Wiley Blackwell, vol. 15(2), pages 171-188, May.
    5. Kehoe, Timothy J. & Ruhl, Kim J., 2009. "Sudden stops, sectoral reallocations, and the real exchange rate," Journal of Development Economics, Elsevier, vol. 89(2), pages 235-249, July.
    6. Yan, Isabel K. & Kumhof, Michael, 2011. "Too much of a good thing? on the effects of limiting foreign reserve accumulation," MPRA Paper 35231, University Library of Munich, Germany.
    7. Rojas, Eugenio & Saffie, Felipe, 2025. "A simple measure of Fisherian amplification with flow collateral constraints," Economics Letters, Elsevier, vol. 255(C).
    8. Kumhof, Michael & Yan, Isabel, 2016. "Balance-of-payments anti-crises," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 186-202.
    9. Adams, Jonathan J. & Rojas, Eugenio, 2024. "Household Consumption and Dispersed Information," Journal of Monetary Economics, Elsevier, vol. 147(C).
    10. Itskhoki, Oleg & Mukhin, Dmitry, 2021. "Exchange rate disconnect in general equilibrium," LSE Research Online Documents on Economics 112140, London School of Economics and Political Science, LSE Library.
    11. Papa N'Diaye & Ping Zhang & Wenlang Zhang, 2008. "Structural Reform, Intra-Regional Trade, and Medium-Term Growth Prospects of East Asia and the Pacific --- Perspectives from a new multi-region model," Working Papers 0817, Hong Kong Monetary Authority.
    12. Durdu, Ceyhun Bora & Mendoza, Enrique G. & Terrones, Marco E., 2009. "Precautionary demand for foreign assets in Sudden Stop economies: An assessment of the New Mercantilism," Journal of Development Economics, Elsevier, vol. 89(2), pages 194-209, July.
    13. Martin Uribe, 2018. "Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited," 2018 Meeting Papers 358, Society for Economic Dynamics.
    14. Rudolfs Bems & Julian di Giovanni, 2016. "Income-Induced expenditure switching," Economics Working Papers 1534, Department of Economics and Business, Universitat Pompeu Fabra.
    15. Hao Jin & Hewei Shen, 2020. "Foreign Asset Accumulation among Emerging Market Economies: a Case for Coordination," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 35, pages 54-73, January.
    16. Kónya, István & Váry, Miklós, 2024. "Which sectors go on when there is a sudden stop? An empirical analysis," Journal of International Money and Finance, Elsevier, vol. 146(C).
    17. Bilge Erten & Anton Korinek & José Antonio Ocampo, 2021. "Capital Controls: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 59(1), pages 45-89, March.
    18. Romelli, Davide & Terra, Cristina & Vasconcelos, Enrico, 2018. "Current account and real exchange rate changes: The impact of trade openness," European Economic Review, Elsevier, vol. 105(C), pages 135-158.
    19. Liu, Siming, 2022. "Government spending during sudden stop crises," Journal of International Economics, Elsevier, vol. 135(C).
    20. Schmitt-Grohé, Stephanie & Uribe, Martín, 2019. "Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints," CEPR Discussion Papers 14248, Centre for Economic Policy Research.
    21. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
    22. Julian Parra-Polania & Carmiña Vargas, 2015. "Optimal tax on capital inflows discriminated by debt-risk profile," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 22(1), pages 102-119, February.
    23. Bianchi, Javier & Coulibaly, Louphou, 2026. "A theory of fear of floating," Journal of Monetary Economics, Elsevier, vol. 157(C).
    24. Stephanie Schmitt-Grohé & Martín Uribe, 2016. "Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints," NBER Working Papers 22971, National Bureau of Economic Research, Inc.
    25. Akihiko Ikeda, 2020. "Currency Swap Agreements and Financial Crises in Small Open Economies," KIER Working Papers 1033, Kyoto University, Institute of Economic Research.
    26. Kunieda, Takuma & Nishimura, Kazuo, 2025. "Capital account liberalization, production heterogeneity, and belief-driven fluctuations in financial-constrained economies," Journal of Macroeconomics, Elsevier, vol. 86(C).
    27. Kim Ruhl & Joseph Steinberg & Timothy Kehoe, 2013. "Global Imbalances and Structural Change in the United States," 2013 Meeting Papers 1089, Society for Economic Dynamics.
    28. Mr. Michael Kumhof & Mr. Douglas Laxton, 2009. "Chile’s Structural Fiscal Surplus Rule: A Model-Based Evaluation," IMF Working Papers 2009/088, International Monetary Fund.
    29. Yun Jung Kim & Jing Zhang, 2023. "International Capital Flows: Private Versus Public Flows In Developing And Developed Countries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(1), pages 225-260, February.
    30. Anton Korinek & Enrique G. Mendoza, 2013. "From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications," NBER Working Papers 19362, National Bureau of Economic Research, Inc.
    31. Rojas, Eugenio & Saffie, Felipe, 2022. "Non-homothetic sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
    32. Bora Durdu & Serdar Sayan, 2008. "Emerging market business cycles with remittance fluctuations," International Finance Discussion Papers 946, Board of Governors of the Federal Reserve System (U.S.).
    33. Enrique G. Mendoza, 2017. "Política macroprudencial: promesas y desafíos," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(2), pages 042-088, August.
    34. Ottonello, Pablo, 2021. "Optimal exchange-rate policy under collateral constraints and wage rigidity," Journal of International Economics, Elsevier, vol. 131(C).
    35. Bora Durdu, 2007. "Quantitative implications of indexed bonds in small open economies," International Finance Discussion Papers 909, Board of Governors of the Federal Reserve System (U.S.).
    36. Carlos Esquivel, 2024. "The Sovereign Default Risk of Giant Oil Discoveries," Departmental Working Papers 202404, Rutgers University, Department of Economics.
    37. Jiao, Yang, 2024. "Financial crises, bailouts and monetary policy in open economies," Journal of International Economics, Elsevier, vol. 151(C).
    38. Javier Bianchi & Enrique Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 254-283, August.
    39. Meza, Felipe & Urrutia, Carlos, 2011. "Financial liberalization, structural change, and real exchange rate appreciations," Journal of International Economics, Elsevier, vol. 85(2), pages 317-328.
    40. Tiryaki, S. Tolga, 2014. "Sectoral asymmetries in a small open economy," Economic Modelling, Elsevier, vol. 43(C), pages 465-475.
    41. Jean-Olivier Hairault & Thepthida Sopraseuth, 2008. "Fluctuations Internationales et Dynamique du Taux de Change," PSE-Ecole d'économie de Paris (Postprint) halshs-00270284, HAL.
    42. Korinek, Anton & Sandri, Damiano, 2016. "Capital controls or macroprudential regulation?," Journal of International Economics, Elsevier, vol. 99(S1), pages 27-42.
    43. Vanda Almeida & Gabriela Castro & Ricardo Félix, 2010. "Improving competition in the non-tradable goods and labour markets: the Portuguese case," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 9(3), pages 163-193, December.
    44. Parimoo, Suneil, 2024. "Cycles and self-fulfilling crises in open economies with stock collateral constraints under impatience," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    45. Carlos A. Ibarra, 2013. "Capital Flows and Private Investment in Mexico," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(3, Cierre), pages 65-99.
    46. Siming Liu, 2018. "Spending Multiplier during Sudden Stop Crises," 2018 Meeting Papers 226, Society for Economic Dynamics.
    47. Mr. Luis Catão & Mr. Marco Terrones, 2016. "Financial De-Dollarization: A Global Perspective and the Peruvian Experience," IMF Working Papers 2016/097, International Monetary Fund.
    48. Esquivel, Carlos, 2024. "Underinvestment and capital misallocation under sovereign risk," Journal of International Economics, Elsevier, vol. 151(C).
    49. Javier Bianchi, 2011. "Overborrowing and Systemic Externalities in the Business Cycle," American Economic Review, American Economic Association, vol. 101(7), pages 3400-3426, December.
    50. Mr. Leif Lybecker Eskesen, 2009. "Countering the Cycle—The Effectiveness of Fiscal Policy in Korea," IMF Working Papers 2009/249, International Monetary Fund.
    51. Korinek, Anton, 2018. "Regulating capital flows to emerging markets: An externality view," Journal of International Economics, Elsevier, vol. 111(C), pages 61-80.
    52. Marco Ortiz & Gerardo Herrera, 2020. "Heterogeneous Credit Constraints and Optimal Monetary Policy," Working Papers 164, Peruvian Economic Association.
    53. Seoane, Hernán D., 2016. "Parameter drifts, misspecification and the real exchange rate in emerging countries," Journal of International Economics, Elsevier, vol. 98(C), pages 204-215.
    54. Nestor Azcona, 2011. "Self-Fulfilling Currency Crises with Borrowing Constraints and Domestic Currency Debt," Open Economies Review, Springer, vol. 22(5), pages 917-933, November.
    55. Enrique G. Mendoza, 2006. "Lessons from the Debt-Deflation Theory of Sudden Stops," American Economic Review, American Economic Association, vol. 96(2), pages 411-416, May.
    56. Hidehiko Matsumoto, 2022. "Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 241-262, January.
    57. Chokri Zehri, 2020. "Policies for managing sudden stops," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(1), pages 9-33.
    58. N'Diaye, Papa & Zhang, Ping & Zhang, Wenlang, 2010. "Structural reform, intra-regional trade, and medium-term growth prospects of East Asia and the Pacific--Perspectives from a new multi-region model," Journal of Asian Economics, Elsevier, vol. 21(1), pages 20-36, February.
    59. Enrique G. Mendoza & Eugenio Rojas, 2019. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(1), pages 174-214, March.
    60. Chen, Fengxian & Feng, Wenhua & Dong, Jingyi & Wang, Yuan, 2025. "The sudden stops of international capital flows and corporate financing constraints——An empirical analysis based on global listed companies," Journal of International Money and Finance, Elsevier, vol. 158(C).

  33. Mendoza, Enrique G. & Tesar, Linda L., 2005. "Why hasn't tax competition triggered a race to the bottom? Some quantitative lessons from the EU," Journal of Monetary Economics, Elsevier, vol. 52(1), pages 163-204, January.

    Cited by:

    1. Carrillo, Julio A. & Mendoza, Enrique G. & Nuguer, Victoria & Roldán-Peña, Jessica, 2018. "Tight money - tight credit: coordination failure in the conduct of monetary and financial policies," Working Paper Series 2129, European Central Bank.
    2. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    3. Séverine MENGUY, 2019. "Does public indebtedness constrain or can it favor economic growth? A simple analytical modeling," Bulletin of Applied Economics, Risk Market Journals, vol. 6(2), pages 1-29.
    4. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    5. Agnès Bénassy-Quéré & Hippolyte d'Albis, 2021. "Taxing capital and labor when both factors are imperfectly mobile internationally," PSE Working Papers halshs-03134050, HAL.
    6. Victoria Nuguer & Jessica Roldan-Pena & Enrique Mendoza & Julio Carrillo, 2016. "When the Central Bank Meets the Financial Authority: Strategic Interactions and Institutional Design," 2016 Meeting Papers 1461, Society for Economic Dynamics.
    7. Razin, Assaf & Sadka, Efraim, 2021. "Migration and Redistribution: Federal Governance of an Economic Union Matters," CEPR Discussion Papers 15902, Centre for Economic Policy Research.
    8. Paul Gomme, 2019. "Ramsey Tax Competition with Real Exchange Rate Determination," Working Papers 19004, Concordia University, Department of Economics.
    9. Vladimir V. Dashkeev & Stephen J. Turnovsky, 2023. "Tax systems and public borrowing limits in a fiscal union," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(2), pages 351-395, April.
    10. Melle Marco C., 2014. "Eine europäische Bemessungsgrundlage für die Körperschaftsteuer? Konzeption und ordnungsökonomische Analyse / Conceptual design and constitutional economics analysis of a European tax base for corporate taxation," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 65(1), pages 133-156, January.
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    Cited by:

    1. Cristina Arellano & Enrique Mendoza, 2002. "Fricciones crediticias y 'paradas repentinas' en pequeñas economías abiertas: un marco de equilibrio del ciclo económico para crisis en mercados emergentes," Research Department Publications 4308, Inter-American Development Bank, Research Department.
    2. Francisco Venegas-Martinez & Ambrosio Ortiz-Ramirez & Francisco Ortiz-Arango, 2012. "Temporary stabilization: a Frechet-Weibullextreme value distribution approach," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 9(1), pages 35-55, Enero-Jun.
    3. Li, Shuyun May & Dressler, Scott, 2011. "Business cycle asymmetry via occasionally binding international borrowing constraints," Journal of Macroeconomics, Elsevier, vol. 33(1), pages 33-41, March.
    4. Krzysztof Makarski, 2014. "Dollarization as a signaling device," Bank i Kredyt, Narodowy Bank Polski, vol. 45(1), pages 17-36.
    5. Lawrence J. Christiano & Christopher J. Gust & Jorge E. Roldós, 2002. "Monetary policy in a financial crisis," Working Papers (Old Series) 0204, Federal Reserve Bank of Cleveland.
    6. Shimotsu, Tor, 2002. "Small Open Economy Model with Domestic Resource Shocks: Monetary Union vs. Floating Exchange Rate," Economics Discussion Papers 8841, University of Essex, Department of Economics.
    7. Ravikumar, B & Wallace, Neil, 2002. "A benefit of uniform currency," MPRA Paper 22951, University Library of Munich, Germany.
    8. Arellano, Cristina & Heathcote, Jonathan, 2010. "Dollarization and financial integration," Journal of Economic Theory, Elsevier, vol. 145(3), pages 944-973, May.
    9. Enrique G. Mendoza, 2002. "Credit, Prices, and Crashes: Business Cycles with a Sudden Stop," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 335-392, National Bureau of Economic Research, Inc.
    10. Fabio Canova, 2005. "The transmission of US shocks to Latin America," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(2), pages 229-251.
    11. Michael B. Devereux, 2001. "Financial Constraints and Exchange Rate Flexibility in Emerging Market Economies," Working Papers 152001, Hong Kong Institute for Monetary Research.
    12. Choi, Woon Gyu & Cook, David, 2004. "Liability dollarization and the bank balance sheet channel," Journal of International Economics, Elsevier, vol. 64(2), pages 247-275, December.
    13. Leduc, Sylvain, 2002. "Incomplete markets, borrowing constraints, and the foreign exchange risk premium," Journal of International Money and Finance, Elsevier, vol. 21(7), pages 957-980, December.
    14. Mr. Olivier D Jeanne, 2003. "Why Do Emerging Economies Borrow in Foreign Currency?," IMF Working Papers 2003/177, International Monetary Fund.
    15. Roc Armenter & Martin Bodenstein, 2005. "Does the time inconsistency problem make flexible exchange rates look worse than you think?," Staff Reports 230, Federal Reserve Bank of New York.
    16. Andrii Kaminskyi & Nataliia Versal, 2018. "Risk Management of Dollarization in Banking: Case of Post-Soviet Countries," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 14(2), pages 21-40.
    17. Rajesh Singh & Chetan Subramanian, 2009. "Temporary Stabilizations, Sudden Stops, and Asset Prices," Review of Development Economics, Wiley Blackwell, vol. 13(2), pages 333-347, May.
    18. Fiess, Norbert & Shankar, Rashmi, 2005. "Regime-switching in exchange rate policy and balance sheet effects," Policy Research Working Paper Series 3653, The World Bank.
    19. Seoane, Hernán D. & Yurdagul, Emircan, 2019. "Trend shocks and sudden stops," Journal of International Economics, Elsevier, vol. 121(C).
    20. Fabio Canova, 2003. "The transmission of US shocks to Latin America," Economics Working Papers 925, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2004.
    21. Ottonello, Pablo, 2021. "Optimal exchange-rate policy under collateral constraints and wage rigidity," Journal of International Economics, Elsevier, vol. 131(C).
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    23. Lange, Carsten & Sauer, Christine, 2005. "Dollarization in Latin America: seigniorage costs and policy implications," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(4-5), pages 662-679, September.
    24. Cruz Rodriguez, Alexis, 2009. "Choosing and assessing exchange rate regimes: A survey of the literature," MPRA Paper 16314, University Library of Munich, Germany.
    25. Anton Korinek, 2011. "Hot Money and Serial Financial Crises," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(2), pages 306-339, June.
    26. Murakami, David & Viswanath-Natraj, Ganesh, 2025. "Cryptocurrencies in emerging markets: A stablecoin solution?," Journal of International Money and Finance, Elsevier, vol. 156(C).
    27. Vega, Marco, 2015. "Monetary policy, financial dollarization and agency costs," Working Papers 2015-019, Banco Central de Reserva del Perú.
    28. Nicolás Cachanosky & Emilio Ocampo & John D. Gibson, 2024. "Can dollarization mitigate the macroeconomic cost of populism? Lessons from Latin America," CEMA Working Papers: Serie Documentos de Trabajo. 888, Universidad del CEMA.
    29. Artus P., 2001. "What Exchange - Rate System For Emerging Countries?," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 27-60, January -.
    30. Michael Kumhof, 2002. "A Critical View of Inflation Targeting: Crises, Limited Sustaintability, and Aggregate Shocks," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.),Inflation Targeting: Desing, Performance, Challenges, edition 1, volume 5, chapter 8, pages 349-394, Central Bank of Chile.
    31. Marques, Luis B, 2007. "The Costs to Consumers of a Depreciated Conversion Rate to the Euro," MPRA Paper 5723, University Library of Munich, Germany.
    32. Gaetano Antinolfi & Todd Keister, 2001. "Dollarization as a monetary arrangement for emerging market economies," Review, Federal Reserve Bank of St. Louis, vol. 83(Nov.), pages 29-40.
    33. Cristina Arellano & Enrique Mendoza, 2002. "Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises," Research Department Publications 4307, Inter-American Development Bank, Research Department.
    34. Mr. Alessandro Rebucci & Mr. Fabio Ghironi, 2002. "Monetary Rules for Emerging Market Economies," IMF Working Papers 2002/034, International Monetary Fund.
    35. Gian Paulo Soave, 2020. "International Drivers of Policy Uncertainty in Emerging Economies," Economics Bulletin, AccessEcon, vol. 40(1), pages 716-726.

  36. Enrique G. Mendoza & Guillermo A. Calvo, 2000. "Capital-Markets Crises and Economic Collapse in Emerging Markets: An Informational-Frictions Approach," American Economic Review, American Economic Association, vol. 90(2), pages 59-64, May.

    Cited by:

    1. Bekaert, Geert & Harvey, Campbell R., 2003. "Emerging markets finance," Journal of Empirical Finance, Elsevier, vol. 10(1-2), pages 3-56, February.
    2. Thomas McGregor, 2017. "Pricing sovereign debt in resource rich economies," OxCarre Working Papers 194, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    3. Kan Chen & Mario Crucini, 2016. "Trends & Cycles in Small Open Economies:Making the Case for a General Equilibrium Approach," Working Papers 16/12, BBVA Bank, Economic Research Department.
    4. Yang, Jinyu & Dong, Dayong & Liang, Chao, 2025. "Sequential questioning and structured responses: Enhancing the information effectiveness of corporate site visits," International Review of Financial Analysis, Elsevier, vol. 106(C).
    5. Ivo Krznar, 2004. "Currency Crisis: Theory and Practice with Application to Croatia," Working Papers 12, The Croatian National Bank, Croatia.
    6. Martin, Philippe & Rey, Hélène, 2002. "Financial Globalization and Emerging Markets: With or Without Crash?," CEPR Discussion Papers 3378, Centre for Economic Policy Research.
    7. Gopinath, Gita, 2003. "Lending Booms, Sharp Reversals and Real Exchange Rate Dynamics," Scholarly Articles 11988005, Harvard University Department of Economics.
    8. Nabil ALIMI, 2016. "The Effect Of Economic Freedom On Business Cycle Volatility: Case Of Developing Countries," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 43, pages 139-158.
    9. Wuyi Ye & Kebing Luo & Shaofu Du, 2014. "Measuring Contagion of Subprime Crisis Based on MVMQ-CAViaR Method," Discrete Dynamics in Nature and Society, Hindawi, vol. 2014, pages 1-12, June.
    10. Radovan Vadovic, 2009. "Early, Late, and Multiple Bidding in Internet Auctions," Working Papers 0904, Centro de Investigacion Economica, ITAM.
    11. Kan Chen & Mario Crucini, 2016. "Trends and Cycles in Small Open Economies: Making The Case For A General Equilibrium Approach," NBER Working Papers 22460, National Bureau of Economic Research, Inc.
    12. Meneses, Oscar & Menna, Lorenzo & Tobal, Martin, 2025. "Argentina: The honor student—By merit and by mistake. A natural experiment on “information effects”," Journal of International Economics, Elsevier, vol. 158(C).
    13. Ahiteme N. Houndonougbo, 2017. "Aid Volatility and Real Business Cycles in a Developing Open Economy," Southern Economic Journal, John Wiley & Sons, vol. 83(3), pages 756-773, January.
    14. Assaf, Ata & Klotzle, Marcelo Cabus & Palazzi, Rafael Baptista & Demir, Ender, 2025. "Connectedness across environmental, social, and governance (ESG) indices: evidence from emerging markets," Research in International Business and Finance, Elsevier, vol. 73(PA).
    15. Enrique Mendoza, 2002. "Why Should Emerging Economies Give Up National Currencies? A Case for Institutions Substitution," Research Department Publications 4309, Inter-American Development Bank, Research Department.
    16. Iryna Kaminska & Dimitri Vayanos & Gabriele Zinna, 2011. "Preferred-habitat investors and the US term structure of real rates," Bank of England Staff Working Paper series 435, Bank of England.
    17. Jose De Gregorio & Andrea Tokman R., 2004. "Overcoming Fear of Floating: Exchange Rate Policies in Chile," Working Papers Central Bank of Chile 302, Central Bank of Chile.
    18. Javier Garcia-Sanchez & Luiz F. Mesquita & Roberto S. Vassolo, 2014. "What doesn't kill you makes you stronger: The evolution of competition and entry-order advantages in economically turbulent contexts," Strategic Management Journal, Wiley Blackwell, vol. 35(13), pages 1972-1992, December.
    19. Esteves, Rui & Eichengreen, Barry, 2019. "The Trials of the Trilemma: International Finance 1870-2017," CEPR Discussion Papers 13465, Centre for Economic Policy Research.
    20. Dungey, Mardi & Gajurel, Dinesh, 2014. "Equity market contagion during the global financial crisis: Evidence from the world's eight largest economies," Economic Systems, Elsevier, vol. 38(2), pages 161-177.
    21. Dvorak, Tomas, 2003. "Gross capital flows and asymmetric information," Journal of International Money and Finance, Elsevier, vol. 22(6), pages 835-864, November.
    22. Andrés Fernández & Andrés González & Diego Rodríguez, 2015. "Sharing a Ride on the Commodities Roller Coaster: Common Factors in Business Cycles of Emerging Economies," Borradores de Economia 915, Banco de la Republica de Colombia.
    23. Avdiu, Besart & Gruhle, Tobias, 2022. "Contagion and information frictions in emerging markets: The role of joint signals," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 147-173.
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    1. Mr. Timothy D. Lane & Mr. Leslie Lipschitz & Ms. Cristina Arellano & Mr. Aleš Bulíř, 2005. "The Dynamic Implications of Foreign Aid and Its Variability," IMF Working Papers 2005/119, International Monetary Fund.
    2. Cristina Arellano & Enrique Mendoza, 2002. "Fricciones crediticias y 'paradas repentinas' en pequeñas economías abiertas: un marco de equilibrio del ciclo económico para crisis en mercados emergentes," Research Department Publications 4308, Inter-American Development Bank, Research Department.
    3. Francisco Venegas-Martinez & Ambrosio Ortiz-Ramirez & Francisco Ortiz-Arango, 2012. "Temporary stabilization: a Frechet-Weibullextreme value distribution approach," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 9(1), pages 35-55, Enero-Jun.
    4. Kumhof, Michael & Li, Shujing & Yan, Isabel, 2007. "Balance of payments crises under inflation targeting," Journal of International Economics, Elsevier, vol. 72(1), pages 242-264, May.
    5. International Monetary Fund, 2005. "Net Foreign Asset Positions and Consumption Dynamics in the International Economy," IMF Working Papers 2005/082, International Monetary Fund.
    6. Olivier CARDI & Romain RESTOUT, 2013. "Imperfect Mobility of Labor across Sectors: a Reappraisal of the Balassa-Samuelson Effect," LIDAM Discussion Papers IRES 2013002, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    7. Enrique Mendoza, 2002. "Why Should Emerging Economies Give Up National Currencies? A Case for Institutions Substitution," Research Department Publications 4309, Inter-American Development Bank, Research Department.
    8. Enrique G. Mendoza, 2002. "Credit, Prices, and Crashes: Business Cycles with a Sudden Stop," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 335-392, National Bureau of Economic Research, Inc.
    9. Fizza Malik, 2016. "Modeling Dynamics of Exchange Rates Volatility: A Case of Pakistan from 1980-2010," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 5(3), pages 144-161, September.
    10. Sunel, Enes, 2010. "On inflation, wealth inequality and welfare in emerging economies," MPRA Paper 25943, University Library of Munich, Germany.
    11. Choi, Woon Gyu & Cook, David, 2004. "Liability dollarization and the bank balance sheet channel," Journal of International Economics, Elsevier, vol. 64(2), pages 247-275, December.
    12. Paul Luk & David Vines, 2014. "Debt Deleveraging and the Zero Bound: Potentially Perverse Effects of Real Exchange Rate Movements," Working Papers 202014, Hong Kong Institute for Monetary Research.
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    16. Douch, Mohamed, 2004. "Equity Premiums In a Small Open Economy," MPRA Paper 876, University Library of Munich, Germany.
    17. Enrique Mendoza, 2002. "¿Por qué deben las economías emergentes renunciar a su moneda nacional? El argumento a favor," Research Department Publications 4310, Inter-American Development Bank, Research Department.
    18. Gover Barja Daza & Javier Monterrey Arce & Sergio Villarroel Bohrt, 2005. "Elasticidad de la sustitución de bienes no transables en Bolivia," Research Department Publications 3182, Inter-American Development Bank, Research Department.
    19. Bi, Huixin & Shen, Wenyi & Yang, Shu-Chun S., 2016. "Fiscal limits in developing countries: A DSGE Approach," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 119-130.
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    21. Ana María Tribín-Uribe & Achyuta Adhvaryu & Cesar Anzola-Bravo & Oscar Ávila-Montealegre & Leonardo Bonilla-Mejía & Juan Carlos Castro-Fernández & Luz A. Flórez & Ánderson Grajales-Olarte & Alexander , 2020. "Migración desde Venezuela en Colombia: caracterización del fenómeno y análisis de los efectos macroeconómicos," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, issue 97, pages 1-74, October.
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    24. Mr. Enrique G. Mendoza, 2006. "Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies," IMF Working Papers 2006/088, International Monetary Fund.
    25. Uribe, Martín & Schmitt-Grohé, Stephanie, 2002. "Closing Small Open Economy Models," CEPR Discussion Papers 3096, Centre for Economic Policy Research.
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    27. Anamaría Pieschacón, 2009. "Implementable Fiscal Rules for an Oil-Exporting Small Open Economy Facing Depletion," OxCarre Working Papers 019, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    28. Richard E. Ericson & Xuan Liu, 2012. "Welfare effect of interest rate shocks and policy implications," Applied Financial Economics, Taylor & Francis Journals, vol. 22(22), pages 1899-1917, November.
    29. Ahmet Faruk Aysan, 2007. "Exchange Rates, Stabilisation Policy and Redistribution of Income," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 1(3), pages 267-298, July.
    30. Aysan, Ahmet Faruk, 2006. "Distributional Effects of Boom-Bust Cycles in Developing Countries with Financial Frictions," MPRA Paper 5484, University Library of Munich, Germany.
    31. Shreekar Pradhan & S. Holladay & M. Mohsin, 2017. "Environmental Policy Instruments Response to Trade Shocks," EcoMod2017 10233, EcoMod.
    32. Chung, Keunsuk & Turnovsky, Stephen J., 2010. "Foreign debt supply in an imperfect international capital market: Theory and evidence," Journal of International Money and Finance, Elsevier, vol. 29(2), pages 201-223, March.
    33. Enrique G. Mendoza, 2000. "On the Instability of Variance Decompositions of the Real Exchange Rate across Exchange-Rate-Regimes: Evidence from Mexico and the United States," NBER Working Papers 7768, National Bureau of Economic Research, Inc.
    34. Marques, Luis B, 2007. "The Costs to Consumers of a Depreciated Conversion Rate to the Euro," MPRA Paper 5723, University Library of Munich, Germany.
    35. Gover Barja Daza & Javier Monterrey Arce & Sergio Villarroel Bohrt, 2005. "The Elasticity of Substitution in Demand for Non-Tradable Goods in Bolivia," Research Department Publications 3181, Inter-American Development Bank, Research Department.
    36. Ahmet Faruk Aysan, 2006. "The Role of Distribution of the Income Shares of Individuals in Tradables and Nontradables on Exchange Rate Fluctuations and Delay of Stabilizations," Working Papers 2006/11, Bogazici University, Department of Economics.
    37. Uribe, Martin, 2003. "Real exchange rate targeting and macroeconomic instability," Journal of International Economics, Elsevier, vol. 59(1), pages 137-159, January.
    38. Ghironi, Fabio & Iscan, Talan B. & Rebucci, Alessandro, 2008. "Net foreign asset positions and consumption dynamics in the international economy," Journal of International Money and Finance, Elsevier, vol. 27(8), pages 1337-1359, December.
    39. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126.
    40. Cristina Arellano & Enrique Mendoza, 2002. "Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises," Research Department Publications 4307, Inter-American Development Bank, Research Department.
    41. Hangyu Lee, 2014. "International Interest Rate Shocks and Monetary Policy in a Small Open Economy," Korean Economic Review, Korean Economic Association, vol. 30, pages 217-246.
    42. Lambrias, Kyriacos, 2016. "Real exchange rates and international co-movement: news-shocks and non-tradable goods with complete markets," Working Paper Series 1946, European Central Bank.
    43. Boz, Emine & Daude, Christian & Bora Durdu, C., 2011. "Emerging market business cycles: Learning about the trend," Journal of Monetary Economics, Elsevier, vol. 58(6), pages 616-631.
    44. Juan Herreño & Carlos Rondón-Moreno, 2022. "Overborrowing and Systemic Externalities in the Business Cycle Under Imperfect Information," Working Papers Central Bank of Chile 940, Central Bank of Chile.
    45. Yukhov, Alexey, 2021. "Long-term implications of oil discoveries for international saving in a DSGE model," Journal of Macroeconomics, Elsevier, vol. 67(C).
    46. J. Scott Holladay & Mohammed Mohsin & Shreekar Pradhan, 2019. "Environmental Policy Instrument Choice and International Trade," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(4), pages 1585-1617, December.
    47. Liu, Xuan, 2007. "Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction," MPRA Paper 18260, University Library of Munich, Germany, revised 26 Oct 2009.
    48. Gilberto E. Arce & Edgar Robles C., 2004. "The Elasticity of Substitution in Demand for Non-Tradable Goods in Costa Rica," Research Department Publications 3183, Inter-American Development Bank, Research Department.
    49. Faltermeier, Julia & Lama, Ruy & Medina, Juan Pablo, 2022. "Foreign exchange intervention for commodity booms and busts," European Economic Review, Elsevier, vol. 143(C).
    50. Sunel, Enes, 2012. "Transitional Dynamics of Disinflation in a Small Open Economy with Heterogeneous Agents," MPRA Paper 39690, University Library of Munich, Germany.

  39. Mendoza, Enrique G & Tesar, Linda L, 1998. "The International Ramifications of Tax Reforms: Supply-Side Economics in a Global Economy," American Economic Review, American Economic Association, vol. 88(1), pages 226-245, March.

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    1. Croce, M.M. & Nguyen, Thien T. & Raymond, S. & Schmid, L., 2019. "Government debt and the returns to innovation," Journal of Financial Economics, Elsevier, vol. 132(3), pages 205-225.
    2. Patrick K. Asea & Enrique G. Mendoza & Gian Maria Milesi-Ferreti, 1995. "Do taxes matter for long-run growth?: Harberger's superneutrality conjecture," International Finance Discussion Papers 511, Board of Governors of the Federal Reserve System (U.S.).
    3. Pablo D'Erasmo & Enrique G. Mendoza & Jing Zhang, 2015. "What is a Sustainable Public Debt?," NBER Working Papers 21574, National Bureau of Economic Research, Inc.
    4. Jinill Kim & Sunghyun Henry Kim & Andrew T. Levin, 2001. "Patience, persistence and welfare costs of incomplete markets in open economies," International Finance Discussion Papers 696, Board of Governors of the Federal Reserve System (U.S.).
    5. Enrique G. Mendoza, 2001. "The International Macroeconomics of Taxation and the Case Against European Tax Harmonization," NBER Working Papers 8217, National Bureau of Economic Research, Inc.
    6. Francesco Busato & Bruno Chiarini, 2013. "Steady State Laffer Curve with the Underground Economy," Public Finance Review, , vol. 41(5), pages 608-632, September.
    7. Jim Dolmas & Gregory W. Huffman, 1998. "On the political economy of immigration and income redistribution," Working Papers 9804, Federal Reserve Bank of Dallas.
    8. Holger Strulik, 2002. "Fiscal Policy Reforms in a Global Economy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 9(1), pages 73-91, January.
    9. Werner Roeger & Jan Veld & Don Woehrmann, 2002. "Some Equity and Efficiency Considerations of International Tax Competition," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 9(1), pages 7-31, January.
    10. Epstein, Brendan & Mukherjee, Rahul & Ramnath, Shanthi, 2016. "Taxes and international risk sharing," Journal of International Economics, Elsevier, vol. 102(C), pages 310-326.
    11. Peter H. Lindert, 2003. "Why the Welfare State Looks Like a Free Lunch," NBER Working Papers 9869, National Bureau of Economic Research, Inc.
    12. Michael A. Kouparitsas, 1997. "Why do countries pursue bilateral trade agreements: a case study of North America," Working Paper Series, Macroeconomic Issues WP-97-20, Federal Reserve Bank of Chicago.
    13. Jang-Ting Guo & Kevin J. Lansing, 1995. "Optimal taxation of capital income in a growth model with monopoly profits," Working Papers (Old Series) 9510, Federal Reserve Bank of Cleveland.
    14. Enrique G. Mendoza, 2000. "On the Benefits of Dollarization when Stabilization Policy is not Credible and Financial Markets are Imperfect," NBER Working Papers 7824, National Bureau of Economic Research, Inc.
    15. Gatut Luhur BUDIONO & Liliana Temirkhanovna BERDIMURATOVA & Jiwa Tribhuana TUNGGADEWI, 2015. "The Imbalance Of Trade Among Countries In The World Nowadays," ECONOMY AND SOCIOLOGY: Theoretical and Scientifical Journal, Socionet;Complexul Editorial "INCE", issue 1, pages 11-18.
    16. Gomez, Manuel A., 2007. "Optimal tax structure in a two-sector model of endogenous growth," Journal of Macroeconomics, Elsevier, vol. 29(2), pages 305-325, June.
    17. Enrique G. Mendoza & Linda L. Tesar & Jing Zhang, 2014. "Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies," Working Papers 644, Research Seminar in International Economics, University of Michigan.
    18. Ricardo M. Reyes-Heroles & Sharon Traiberman & Eva Van Leemput, 2020. "Emerging Markets and the New Geography of Trade: The Effects of Rising Trade Barriers," International Finance Discussion Papers 1278, Board of Governors of the Federal Reserve System (U.S.).
    19. Matteo Cacciatore & Nora Traum, 2020. "Trade Flows and Fiscal Multipliers," NBER Working Papers 27652, National Bureau of Economic Research, Inc.
    20. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos & Vanghelis Vassilatos, 2012. "Smaller Public Sectors in the Euro Area: Aggregate and Distributional Implications," CESifo Working Paper Series 3965, CESifo.
    21. Sunghyun Henry Kim & Jinill Kim, 2005. "Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation," Computing in Economics and Finance 2005 169, Society for Computational Economics.
    22. Guo, Jang-Ting & Lansing, Kevin J., 1999. "Optimal taxation of capital income with imperfectly competitive product markets," Journal of Economic Dynamics and Control, Elsevier, vol. 23(7), pages 967-995, June.
    23. Chernov, Mikhail & Schmid, Lukas & Schneider, Andres, 2016. "A Macrofinance View of U.S. Sovereign CDS Premiums," CEPR Discussion Papers 11576, Centre for Economic Policy Research.
    24. Jing Zhang, 2015. "Saving Europe?," 2015 Meeting Papers 599, Society for Economic Dynamics.
    25. Pierre-Olivier Gourinchas & Mr. Olivier D Jeanne, 2004. "The Elusive Gains from International Financial Integration," IMF Working Papers 2004/074, International Monetary Fund.
    26. Juha Tervala & Mr. Giovanni Ganelli, 2008. "Tax Reforms, “Free Lunches”, and “Cheap Lunches” in Open Economies," IMF Working Papers 2008/227, International Monetary Fund.
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    24. Mesbah Fathy Sharaf & Abdelhalem Mahmoud Shahen & El-Hussien Ibrahim Mansour & Noha Nagi Elboghdadly, 2026. "Financial resilience in a fragmented system: assessing Russia’s SPFS and the sustainability of global payment networks," International Economics and Economic Policy, Springer, vol. 23(2), pages 1-26, May.
    25. Bazán-Palomino, Walter & Ortiz, Marco & Terrones, Marco E. & Winkelried, Diego, 2025. "The role of US bank liquidity and regulations in Covered Interest Parity deviations," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 102(C).
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    612. Sedegah Kordzo & Odhiambo Nicholas M., 2021. "A Review of the Impact of External Shocks on Monetary Policy Effectiveness in Non-WAEMU Countries," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Paradigm, vol. 31(3), pages 37-59, September.
    613. Carlos de Miguel & Baltasar Manzano & Jose M. Martin Moreno, "undated". "Perturbaciones petroliferas y fluctuaciones agregadas," Studies on the Spanish Economy 134, FEDEA.
    614. Leonardo Barreto, 2018. "Nonconventional monetary policy in a regime-switching model with endogenous financial crises," Documentos CEDE 16382, Universidad de los Andes, Facultad de Economía, CEDE.
    615. Schlagenhauf, Don E. & Wrase, Jeffrey M., 1995. "Exchange rate dynamics and international effects of monetary shocks in monetary, equilibrium models," Journal of International Money and Finance, Elsevier, vol. 14(2), pages 155-177, April.
    616. Kahiya, Eldrede T., 2020. "Context in international business: Entrepreneurial internationalization from a distant small open economy," International Business Review, Elsevier, vol. 29(1).
    617. Zuzana Janko, 2011. "A dynamic small open economy model with involuntary unemployment," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 44(4), pages 1350-1368, November.
    618. Amanda Michaud & Jacek Rothert, 2016. "Inequality, fiscal policy, and business cycle anomalies in emerging markets," NBP Working Papers 253, Narodowy Bank Polski.
    619. Patrick Minford & Prakriti Sofat, 2004. "An Open Economy Real Business Cycle Model for the UK," Money Macro and Finance (MMF) Research Group Conference 2004 23, Money Macro and Finance Research Group.
    620. Javier Ferri & Francisca Herranz-Baez, 2023. "Building on fiscal policy: government consumption and the residential sector. When helping hurts," Working Papers 2023-01, FEDEA.
    621. Thomas Lubik & Wing Leong Teo, 2005. "Do Terms of Trade Shocks Drive Business Cycles? Some Evidence from Structural Estimation," Computing in Economics and Finance 2005 377, Society for Computational Economics.
    622. Oliver de Groot & C. Bora Durdu & Enrique G. Mendoza, 2019. "Global v. Local Methods in the Analysis of Open-Economy Models with Incomplete Markets," Working Papers 201916, University of Liverpool, Department of Economics.
    623. Sanha Noh & Ingul Baek, 2022. "What are the Driving Forces of the Economic Downturn in Korea during COVID-19? (Covid-19 Special Issue)," Korean Economic Review, Korean Economic Association, vol. 38, pages 285-322.
    624. Canova, Fabio & Marrinan, Jane, 1998. "Sources and propagation of international output cycles: Common shocks or transmission?," Journal of International Economics, Elsevier, vol. 46(1), pages 133-166, October.
    625. Enrique G. Mendoza & Vivian Z. Yue, 2008. "A Solution to the Disconnect between Country Risk and Business Cycle Theories," NBER Working Papers 13861, National Bureau of Economic Research, Inc.
    626. Manuel Toledo & Luis B. Marques & Fernando A. Alvarez, 2009. "Excess Volatility of Consumption in Developed and Emerging Markets: The Role of Durable Goods," 2009 Meeting Papers 142, Society for Economic Dynamics.
    627. de Groot, Oliver & Durdu, C. Bora & Mendoza, Enrique G., 2025. "Why global and local solutions of open-economy models with incomplete markets differ and why it matters," Journal of International Economics, Elsevier, vol. 158(C).
    628. Hossain, Ferdaus, 1995. "Current account determination in the intertemporal framework: an empirical analysis," ISU General Staff Papers 1995010108000011939, Iowa State University, Department of Economics.
    629. Minford, Patrick & Nowell, Eric & Meenagh, David & Sofat, Prakriti, 2005. "Real Exchange Rate Overshooting RBC Style," CEPR Discussion Papers 5029, Centre for Economic Policy Research.
    630. C. Bora Durdu, 2006. "Are Indexed Bonds a Remedy for Sudden Stops?," Computing in Economics and Finance 2006 11, Society for Computational Economics.
    631. Horvath, Jaroslav, 2018. "Business cycles, informal economy, and interest rates in emerging countries," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 96-116.
    632. Bouakez, Hafedh & Eyquem, Aurélien, 2015. "Government spending, monetary policy, and the real exchange rate," Journal of International Money and Finance, Elsevier, vol. 56(C), pages 178-201.
    633. Jonathan J Adams & Philip Barrett, 2017. "Resolving International Macro Puzzles with Imperfect Risk Sharing and Global Solution Methods," Working Papers 001003, University of Florida, Department of Economics.
    634. Luis-Felipe Zanna, 2003. "Interest rate rules and multiple equilibria in the small open economy," International Finance Discussion Papers 785, Board of Governors of the Federal Reserve System (U.S.).
    635. Hwang, Seolwoong & Kim, Soyoung, 2022. "Real business cycles in emerging countries: Are Asian business cycles different from Latin American business cycles?," Journal of International Money and Finance, Elsevier, vol. 129(C).
    636. Maurice Obstfeld & Kenneth Rogoff & Ben Bernanke & Kenneth Rogoff, "undated". "The Six Major Puzzles in International Macroeconomics: Is there a Common Cause?," Working Paper 32326, Harvard University OpenScholar.
    637. Lee E. Ohanian & Paulina Restrepo-Echavarria & Diana Van Patten & Mark L. J. Wright, 2020. "The Impact of Bretton Woods International Capital Controls on the Global Economy and the Value of Geopolitical Stability: A General Equilibrium Analysis," Working Papers 2020-042, Federal Reserve Bank of St. Louis, revised 11 Apr 2025.
    638. Marc‐André Letendre, 2004. "Capital utilization and habit formation in a small open economy model," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(3), pages 721-741, August.
    639. Meenagh, David & Minford, Patrick & Oyekola, Olayinka, 2015. "Oil Prices and the Dynamics of Output and Real Exchange Rate," Cardiff Economics Working Papers E2015/18, Cardiff University, Cardiff Business School, Economics Section.
    640. Cakici, S. Meral, 2012. "Technology shocks under varying degrees of financial openness," International Review of Economics & Finance, Elsevier, vol. 21(1), pages 232-245.
    641. Marcelo Arbex & Sidney Caetano, 2016. "Welfare Implications of AEoI," Working Papers 1608, University of Windsor, Department of Economics.

  52. Enrique G. Mendoza, 1991. "Capital Controls and the Gains from Trade in a Business Cycle Model of a Small Open Economy," IMF Staff Papers, Palgrave Macmillan, vol. 38(3), pages 480-505, September.

    Cited by:

    1. Bengui, Julien & Mendoza, Enrique G. & Quadrini, Vincenzo, 2013. "Capital mobility and international sharing of cyclical risk," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 42-62.
    2. Bora Durdu & Enrique G. Mendoza, 2004. "Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees," Working Paper Series 2004-33, Federal Reserve Bank of San Francisco.
    3. Guillermo A. Calvo & Enrique G. Mendoza, 2000. "Contagion, Globalization, and the Volatility of Capital Flows," NBER Chapters, in: Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, pages 15-41, National Bureau of Economic Research, Inc.
    4. Enrique G. Mendoza, 2002. "Credit, Prices, and Crashes: Business Cycles with a Sudden Stop," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 335-392, National Bureau of Economic Research, Inc.
    5. Jose Joaquin Lopez, 2007. "Production sharing and real business cycles in a small open economy," Globalization Institute Working Papers 05, Federal Reserve Bank of Dallas.
    6. César Calderón & Alberto Chong & Norman Loayza, 1999. "Determinants of Current Account Deficits in Developing Countries," Working Papers Central Bank of Chile 51, Central Bank of Chile.
    7. Leduc, Sylvain, 2002. "Incomplete markets, borrowing constraints, and the foreign exchange risk premium," Journal of International Money and Finance, Elsevier, vol. 21(7), pages 957-980, December.
    8. Mr. Enrique G. Mendoza & Ceyhun Bora Durdu, 2006. "Are Asset Price Guarantees Useful for Preventing Sudden Stops?A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff," IMF Working Papers 2006/073, International Monetary Fund.
    9. Tamon Asonuma & Hyungseok Joo, 2023. "Sovereign Defaults and Debt Restructurings: Public Capital and Fiscal Constraint Tightness," School of Economics Discussion Papers 0323, School of Economics, University of Surrey.
    10. Pablo Guerron-Quintana & Grey Gordon, 2014. "Municipal Bonds, Default, and Migration in General Equilibrium," 2014 Meeting Papers 868, Society for Economic Dynamics.
    11. Obstfeld, Maurice, 1993. "Risk-Taking, Global Diversification, and Growth," Center for International and Development Economics Research (CIDER) Working Papers 233197, University of California-Berkeley, Department of Economics.
    12. James M. Nason & John H. Rogers, 2003. "The present-value model of the current account has been rejected: round up the usual suspects," International Finance Discussion Papers 760, Board of Governors of the Federal Reserve System (U.S.).
    13. Fabio Canova & Jane Marrinan, 1996. "Sources and propagation of international cycles: Common shocks or transmission?," Economics Working Papers 188, Department of Economics and Business, Universitat Pompeu Fabra.
    14. Dudley Cooke, 2007. "How do Capital Controls Affect the Transmission of Foreign Shocks?," EPRU Working Paper Series 07-02, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    15. Grey Gordon & Pablo Guerrón-Quintana, 2013. "Dynamics of investment, debt, and default," Working Papers 13-18, Federal Reserve Bank of Philadelphia.
    16. Mendoza, Enrique G., 1997. "Terms-of-trade uncertainty and economic growth," Journal of Development Economics, Elsevier, vol. 54(2), pages 323-356, December.
    17. Enrique G. Mendoza & P. Marcelo Oviedo, 2006. "Fiscal Policy and Macroeconomic Uncertainty in Emerging Markets: The Tale of the Tormented Insurer," 2006 Meeting Papers 377, Society for Economic Dynamics.
    18. Ms. Luisa Zanforlin & Mr. César Calderón & Mr. Alberto Chong, 2001. "Are African Current Account Deficits Different? Stylized Facts, Transitory Shocks, and Decomposition Analysis," IMF Working Papers 2001/004, International Monetary Fund.
    19. Enrique G. Mendoza & P. Marcelo Oviedo, 2006. "Fiscal Policy and Macroeconomic Uncertainty in Developing Countries: The Tale of the Tormented Insurer," NBER Working Papers 12586, National Bureau of Economic Research, Inc.
    20. Simeon Coleman & Juan Carlos Cuestas, 2023. "Has the current account broken up with its fundamentals in Central and Eastern Europe?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 962-980, January.
    21. Calvo, Guillermo A. & Mendoza, Enrique G., 2000. "Rational contagion and the globalization of securities markets," Journal of International Economics, Elsevier, vol. 51(1), pages 79-113, June.
    22. Tamon Asonuma & Hyungseok Joo, 2021. "Public Capital and Fiscal Constraint in Sovereign Debt Crises," School of Economics Discussion Papers 0621, School of Economics, University of Surrey.
    23. Enrique G. Mendoza & Vincenzo Quadrini & José-Victor Ríos-Rull, 2007. "On the Welfare Implications of Financial Globalization without Financial Development," NBER Working Papers 13412, National Bureau of Economic Research, Inc.
    24. Lewis, Vivien & Puangjit, Sirikorn, 2025. "A simple model of geopolitical risk and sanctions," Discussion Papers 32/2025, Deutsche Bundesbank.
    25. Rizlane Guati, 2006. "Real Exchange Rate Misalignments in Some Mediterranean Countries," EcoMod2006 272100034, EcoMod.
    26. Canova, Fabio & Marrinan, Jane, 1998. "Sources and propagation of international output cycles: Common shocks or transmission?," Journal of International Economics, Elsevier, vol. 46(1), pages 133-166, October.

Software components

  1. Javier Bianchi & Enrique Mendoza, 2020. "Code and data files for "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature"," Computer Codes 20-260, Review of Economic Dynamics.
    See citations under working paper version above.
  2. Enrique Mendoza & Sergio Villalvazo, 2020. "Code and data files for "FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints"," Computer Codes 19-424, Review of Economic Dynamics.
    See citations under working paper version above.Sorry, no citations of software components recorded.

Chapters

  1. Enrique G. Mendoza & Ernesto Pastén & Diego Saravia, 2018. "Monetary Policy and Global Spillovers: Mechanisms, Effects and Policy Measures – An Overview," Central Banking, Analysis, and Economic Policies Book Series, in: Enrique G. Mendoza & Ernesto Pastén & Diego Saravia (ed.),Monetary Policy and Global Spillovers: Mechanisms, Effects and Policy Measures, edition 1, volume 25, chapter 1, pages 001-008, Central Bank of Chile.

    Cited by:

    1. Fernando Arce & Julien Bengui & Javier Bianchi, 2023. "Overborrowing, Underborrowing, and Macroprudential Policy," Working Papers 798, Federal Reserve Bank of Minneapolis.
    2. Wang, Xunxiao, 2020. "Frequency dynamics of volatility spillovers among crude oil and international stock markets: The role of the interest rate," Energy Economics, Elsevier, vol. 91(C).

  2. Enrique G. Mendoza, 2018. "Macroprudential Policy: Promise and Challenges," Central Banking, Analysis, and Economic Policies Book Series, in: Enrique G. Mendoza & Ernesto Pastén & Diego Saravia (ed.),Monetary Policy and Global Spillovers: Mechanisms, Effects and Policy Measures, edition 1, volume 25, chapter 7, pages 225-277, Central Bank of Chile.
    See citations under working paper version above.
  3. D’Erasmo, P. & Mendoza, E.G. & Zhang, J., 2016. "What is a Sustainable Public Debt?," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2493-2597, Elsevier.
    See citations under working paper version above.
  4. Javier Bianchi & Chenxin Liu & Enrique G. Mendoza, 2016. "Fundamentals News, Global Liquidity, and Macroprudential Policy," NBER Chapters, in: NBER International Seminar on Macroeconomics 2015, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  5. Enrique G. Mendoza & Marco E. Terrones, 2014. "An Anatomy of Credit Booms and their Demise," Central Banking, Analysis, and Economic Policies Book Series, in: Miguel Fuentes D. & Claudio E. Raddatz & Carmen M. Reinhart (ed.),Capital Mobility and Monetary Policy, edition 1, volume 18, chapter 6, pages 165-204, Central Bank of Chile.
    See citations under working paper version above.
  6. Pablo D'Erasmo & Enrique G. Mendoza, 2013. "Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default," NBER Chapters, in: Sovereign Debt and Financial Crises, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  7. Javier Bianchi & Enrique G Mendoza, 2011. "Optimal macroprudential regulation in a Fisherian model of financial crises," BIS Papers chapters, in: Bank for International Settlements (ed.), Macroprudential regulation and policy, volume 60, pages 66-72, Bank for International Settlements.

    Cited by:

    1. Yongseung Jung & Soyoung Kim & Doo Yong Yang, 2018. "Capital Control and Monetary Policy in Asian Emerging Market Economies," Asian Economic Papers, MIT Press, vol. 17(2), pages 111-134, Summer.

  8. Enrique G. Mendoza & Vincenzo Quadrini & José-Víctor Ríos-Rull, 2009. "On the Welfare Implications of Financial Globalization without Financial Development," NBER Chapters, in: NBER International Seminar on Macroeconomics 2007, pages 283-312, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  9. Enrique G. Mendoza, 2002. "Credit, Prices, and Crashes: Business Cycles with a Sudden Stop," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 335-392, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  10. Guillermo A. Calvo & Enrique G. Mendoza, 2000. "Contagion, Globalization, and the Volatility of Capital Flows," NBER Chapters, in: Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, pages 15-41, National Bureau of Economic Research, Inc.

    Cited by:

    1. Shiyi Wang, 2019. "Capital Flow Volatility: The Effects of Financial Development and Global Financial Conditions," 2019 Papers pwa945, Job Market Papers.
    2. Festic, Mejra & Kavkler, Alenka, 2012. "The Roots of the Banking Crisis in the New EU Member States: A Panel Regression Approach," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 20-40, March.
    3. Ghysels, Eric & Seon, Junghoon, 2005. "The Asian financial crisis: The role of derivative securities trading and foreign investors in Korea," Journal of International Money and Finance, Elsevier, vol. 24(4), pages 607-630, June.
    4. Ana Fostel & John Geanakoplos, 2008. "Emerging Markets in an Anxious Global Economy," Levine's Working Paper Archive 122247000000002074, David K. Levine.
    5. Gan-Ochir Doojav & Borkhuu Gotovsuren & Tsenddorj Dorjpurev, 2012. "Financial Contagion and Volatile Capital Flows," Occasional Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number occ56, April.
    6. Philippe Bacchetta & Eric van Wincoop, 1998. "Capital Flows to Emerging Markets: Liberalization, Overshooting, and Volatility," NBER Working Papers 6530, National Bureau of Economic Research, Inc.
    7. Mejra Festić & Dejan Romih, 2008. "Cyclicality of the banking sector performance and macro environment in the Czech republic, Slovakia and Slovenia," Prague Economic Papers, Prague University of Economics and Business, vol. 2008(2), pages 99-117.
    8. Kyriakos Chousakos & Gary Gorton & Guillermo Ordoñez, 2017. "Propagación de información entre países," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(2), pages 090-127, August.
    9. Sebastian Edwards, 2000. "Contagion," The World Economy, Wiley Blackwell, vol. 23(7), pages 873-900, July.
    10. Geert Bekaert & Campbell R. Harvey, 1998. "Capital Flows and the Behavior of Emerging Market Equity Returns," NBER Working Papers 6669, National Bureau of Economic Research, Inc.
    11. Guido Sandleris & Horacio Sapriza & Filippo Taddei, 2009. "Indexed Sovereign Debt: An Applied Framework," Business School Working Papers 2009-01, Universidad Torcuato Di Tella.
    12. Kyriakos Chousakos & Gary Gorton & Guillermo Ordoñez, 2018. "Global Information Spillovers," Central Banking, Analysis, and Economic Policies Book Series, in: Enrique G. Mendoza & Ernesto Pastén & Diego Saravia (ed.),Monetary Policy and Global Spillovers: Mechanisms, Effects and Policy Measures, edition 1, volume 25, chapter 5, pages 137-181, Central Bank of Chile.
    13. Sebastian Edwards, 2000. "Interest Rates, Contagion and Capital Controls," NBER Working Papers 7801, National Bureau of Economic Research, Inc.
    14. Adrian Viliami Bell, 2013. "Evolutionary Thinking in Microeconomic Models: Prestige Bias and Market Bubbles," PLOS ONE, Public Library of Science, vol. 8(3), pages 1-5, March.
    15. Gravelle, Toni & Kichian, Maral & Morley, James, 2006. "Detecting shift-contagion in currency and bond markets," Journal of International Economics, Elsevier, vol. 68(2), pages 409-423, March.
    16. Geert Bekaert & Campbell R. Harvey & Robin L. Lumsdaine, 1999. "The Dynamics of Emerging Market Equity Flows," NBER Working Papers 7219, National Bureau of Economic Research, Inc.
    17. Festic, Mejra & Kavkler, Alenka & Repina, Sebastijan, 2011. "The macroeconomic sources of systemic risk in the banking sectors of five new EU member states," Journal of Banking & Finance, Elsevier, vol. 35(2), pages 310-322, February.
    18. Fijorek, Kamil & Jurkowska, Aleksandra & Jonek-Kowalska, Izabela, 2021. "Financial contagion between the financial and the mining industries – Empirical evidence based on the symmetric and asymmetric CoVaR approach," Resources Policy, Elsevier, vol. 70(C).
    19. Laura Alfaro & Sebnem Kalemli-Ozcan & Vadym Volosovych, 2005. "Capital Flows in a Globalized World: The Role of Policies and Institutions," NBER Working Papers 11696, National Bureau of Economic Research, Inc.
    20. Ana Fostel & John Geanakoplos, 2013. "Reviewing the Leverage Cycle," Cowles Foundation Discussion Papers 1918, Cowles Foundation for Research in Economics, Yale University.
    21. Edwards, Sebastian & Rigobon, Roberto, 2009. "Capital controls on inflows, exchange rate volatility and external vulnerability," Journal of International Economics, Elsevier, vol. 78(2), pages 256-267, July.
    22. Aizenman, Joshua & Lee, Yeonho & Rhee, Youngseop, 2007. "International reserves management and capital mobility in a volatile world: Policy considerations and a case study of Korea," Journal of the Japanese and International Economies, Elsevier, vol. 21(1), pages 1-15, March.
    23. Patrycja Chodnicka -Jaworska, 2019. "Impact of credit rating agencies on European Banking stock prices: Is the recognition of credit rating agency important?," Faculty of Management Working Paper Series 42019, University of Warsaw, Faculty of Management.
    24. Laura Pareja Restrepo, 2016. "Financial Interdependence and Contagion: the transmission of financial stress from the United States to Latin America," Documentos CEDE 14235, Universidad de los Andes, Facultad de Economía, CEDE.

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