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Citations for "Phoenix Miracles in Emerging Markets: Recovering without Credit from Systemic Financial Crises"

by Guillermo A. Calvo & Alejandro Izquierdo & Ernesto Talvi

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  1. Frankel, Jeffrey A., 2011. "Monetary Policy in Emerging Markets: A Survey," Scholarly Articles 4669671, Harvard Kennedy School of Government.
  2. José María Fanelli, 2009. "Economic Policy out of the Corridor. Reflections on the Global Crisis and the Latin American Experience," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(53-54), pages 73-105, January -.
  3. Fanelli, José María & Jiménez, Juan Pablo, 2009. "Crisis, volatilidad y política fiscal en América Latina," Documentos de Proyectos 4165, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  4. -, 2009. "Políticas macroeconómicas en tiempos de crisis: opciones y perspectivas," Documentos de Proyectos 275, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  5. Forte, Antonio, 2012. "Italy after the crisis: a case of recoveryless credit growth," MPRA Paper 35775, University Library of Munich, Germany.
  6. repec:cml:moneta:v:xxxv:y:2013:i:1:p:87-165 is not listed on IDEAS
  7. Javier Bianchi, 2010. "Overborrowing and Systemic Externalities in the Business Cycle," 2010 Meeting Papers 96, Society for Economic Dynamics.
  8. Alejandro Izquierdo & Randall Romero & Ernesto Talvi, 2008. "Booms and Busts in Latin America: The Role of External Factors," IDB Publications (Working Papers) 6736, Inter-American Development Bank.
  9. repec:cml:moneta:v:xxxv:y:2013:i:1:p:63-85 is not listed on IDEAS
  10. Michael Siemer & Adrien Verdelhan & Francois Gourio, 2015. "Uncertainty and International Capital Flows," 2015 Meeting Papers 880, Society for Economic Dynamics.
  11. Stijn Claessens & M. Ayhan Kose & Marco E. Terrones, 2009. "What happens during recessions, crunches and busts?," Economic Policy, CEPR;CES;MSH, vol. 24, pages 653-700, October.
  12. Marcela Eslava & Arturo Galindo & Marc Hofstetter & Alejandro Izquierdo, 2010. "Scarring Recessions and Credit Constraints: Evidence from Colombian Plant Dynamics," DOCUMENTOS CEDE 007711, UNIVERSIDAD DE LOS ANDES-CEDE.
  13. Reis, Ricardo, 2013. "The Portuguese Slump and Crash and the Euro Crisis," CEPR Discussion Papers 9591, C.E.P.R. Discussion Papers.
  14. Hausmann, Ricardo & Rodriguez, Francisco & Wagner, Rodrigo, 2006. "Growth Collapses," Working Paper Series rwp06-046, Harvard University, John F. Kennedy School of Government.
  15. Carlos O. Arteta & Galina Hale, 2006. "Sovereign debt crises and credit to the private sector," Working Paper Series 2006-21, Federal Reserve Bank of San Francisco.
  16. Juan José Echavarría & Andrés González & Enrique López & Norberto Rodíguez, 2012. "Choques internacionales reales y financieros y su impacto sobre la economía colombiana," Borradores de Economia 728, Banco de la Republica de Colombia.
  17. Galina Hale & Assaf Razin & Hui Tong, 2011. "The Impact of Creditor Protection on Stock Prices in the Presence of Credit Crunches," CESifo Working Paper Series 3440, CESifo Group Munich.
  18. Olivier Blanchard, 2007. "Current Account Deficits in Rich Countries," NBER Working Papers 12925, National Bureau of Economic Research, Inc.
  19. Colliac, Stéphane & Lapteacru, Ion, 2008. "Three countries' debt profiles: Average maturities in Mexico, Brazil, and Russia," Journal of Multinational Financial Management, Elsevier, vol. 18(2), pages 94-111, April.
  20. M. Ayhan Kose & Eswar Prasad & Kenneth S. Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," NBER Working Papers 12484, National Bureau of Economic Research, Inc.
  21. Christoph Trebesch, 2009. "The Cost of Aggressive Sovereign Debt Policies; How Much is theprivate Sector Affected?," IMF Working Papers 09/29, International Monetary Fund.
  22. Arturo Galindo & Alejandro Izquierdo & Liliana Rojas-Suárez, 2010. "Financial Integration and Foreign Banks in Latin America: How Do They Impact the Transmission of External Financial Shocks?," IDB Publications (Working Papers) 6780, Inter-American Development Bank.
  23. Guillermo Calvo, 2015. "The Liquidity Approach to Bubbles, Crises, Jobless Recoveries, and Involuntary Unemployment," Central Banking, Analysis, and Economic Policies Book Series, in: Ricardo J. Caballero & Klaus Schmidt-Hebbel (ed.), Economic Policies in Emerging-Market Economies Festschrift in Honor of Vittorio Corbo, edition 1, volume 21, chapter 6, pages 079-108 Central Bank of Chile.
  24. Felipe Schwartzman, 2010. "Time to produce and emerging market crises," Working Paper 10-15, Federal Reserve Bank of Richmond.
  25. Almira Buzaushina & Michael Brei, 2009. "Matching International Financial Shocks in Emerging Markets," Bonn Econ Discussion Papers bgse2_2009, University of Bonn, Germany.
  26. Kannan, Prakash, 2012. "Credit conditions and recoveries from financial crises," Journal of International Money and Finance, Elsevier, vol. 31(5), pages 930-947.
  27. 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.).
  28. Foster-McGregor, Neil & Kaba, Ibrahima & Szirmai, Adam, 2015. "Structural change and the ability to sustain growth," MERIT Working Papers 048, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  29. Michael Biggs & Thomas Mayer & Andreas Pick, 2009. "Credit and economic recovery," DNB Working Papers 218, Netherlands Central Bank, Research Department.
  30. Pierre-Olivier Gourinchas & Thomas Philippon & Dimitri Vayanos, 2016. "The Analytics of the Greek Crisis," NBER Working Papers 22370, National Bureau of Economic Research, Inc.
  31. David J Hofman & Ruben V Atoyan & Dimitri Tzanninis & Mauro Mecagni, 2007. "The Duration of Capital Account Crises—An Empirical Analysis," IMF Working Papers 07/258, International Monetary Fund.
  32. Santiago Herrera & Hoda Selim & Hoda Youssef & Chahir Zaki, 2011. "Egypt beyond the Crisis: Medium-Term Challenges for Sustained Growth," Working Papers 625, Economic Research Forum, revised 09 Jan 2011.
  33. Guillermo A. Calvo, 2013. "The Mayekawa Lecture: Puzzling over the Anatomy of Crises- Liquidity and the Veil of Finance," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 31, pages 39-64, November.
  34. Claessens, Stijn & Ayhan Kose, M. & Terrones, Marco E., 2010. "The global financial crisis: How similar? How different? How costly?," Journal of Asian Economics, Elsevier, vol. 21(3), pages 247-264, June.
  35. Kacef, Osvaldo, 2009. "Crisis and public policies in Latin America and the Caribbean," Documentos de Proyectos 4168, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  36. Gómez Sabaini, Juan Carlos & Jiménez, Juan Pablo, 2009. "The role of tax policy in the context of the crisis: possibilities and limitations," Documentos de Proyectos 4169, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  37. Fanelli, José María & Jiménez, Juan Pablo, 2009. "Crisis, volatility and fiscal policy in Latin America," Documentos de Proyectos 4167, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  38. Luis Gonzalo Llosa & Ugo Panizza, 2015. "Peru’s Great Depression A Perfect Storm?," Working Papers 2015-45, Peruvian Economic Association.
  39. Constantinos Stephanou, 2009. "Dealing with the Crisis," World Bank Other Operational Studies 10245, The World Bank.
  40. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle and Ultra-low Interest Rates," PIER Discussion Papers 55, Puey Ungphakorn Institute for Economic Research, revised Mar 2017.
  41. Gallego, Francisco A. & Tessada, José A., 2012. "Sudden stops, financial frictions, and labor market flows: Evidence from Latin America," Journal of Development Economics, Elsevier, vol. 97(2), pages 257-268.
  42. Julien Allard & Rodolphe Blavy, 2011. "Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?," IMF Working Papers 11/213, International Monetary Fund.
  43. Guillermo A. Calvo & Fabrizio Coricelli & Pablo Ottonello, 2012. "Labor Market, Financial Crises and Inflation: Jobless and Wageless Recoveries," NBER Working Papers 18480, National Bureau of Economic Research, Inc.
  44. Calvo, Guillermo & Talvi, Ernesto, 2006. "The resolution of global imbalances: Soft landing in the North, sudden stop in emerging markets?," Journal of Policy Modeling, Elsevier, vol. 28(6), pages 605-613, September.
  45. Sangeeta Pratap & Carlos Urrutia, 2011. "Financial Frictions and Total Factor Productivity: Accounting for the Real Effects of Financial Crises," Working Papers 1104, Centro de Investigacion Economica, ITAM.
  46. Fabrizio Coricelli & Isabelle Roland, 2010. "Credit and recessions," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00469521, HAL.
  47. Prates, Daniela Magalhães & Cunha, André Moreira & Lélis, Marcos Tadeo Caputi, 2009. "Exchange-rate management in Brazil," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
  48. Bineau, Yannick, 2008. "Équilibre extérieur et taux de change réel : apport du modèle de croissance contrainte par la balance des paiements," L'Actualité Economique, Société Canadienne de Science Economique, vol. 84(3), pages 263-285, septembre.
  49. Ruy Lama, 2011. "Accounting for Output Drops in Latin America," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(2), pages 295-316, April.
  50. repec:cml:moneta:v:xxxv:y:2013:i:1:p:37-62 is not listed on IDEAS
  51. Jaanika Meriküll, 2012. "Households borrowing during a creditless recovery," Bank of Estonia Working Papers wp2012-2, Bank of Estonia, revised 22 Feb 2012.
  52. Rose, Andrew K., 2007. "A stable international monetary system emerges: Inflation targeting is Bretton Woods, reversed," Journal of International Money and Finance, Elsevier, vol. 26(5), pages 663-681, September.
  53. Gulan, Adam & Haavio, Markus & Kilponen, Juha, 2014. "Kiss me deadly: From Finnish great depression to great recession," Research Discussion Papers 24/2014, Bank of Finland.
  54. Cristi Marcel Spulbăr, 2010. "The financial systems – an approach from the perspective of the financial crisis," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 3(38), pages 1-8, May.
  55. repec:fgv:epgrbe:v:67:n:4:a:5 is not listed on IDEAS
  56. Michael D. Bordo & Alberto F. Cavallo & Christopher M. Meissner, 2007. "Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880-1913," NBER Working Papers 13489, National Bureau of Economic Research, Inc.
  57. Lahura, Erick & Vega, Hugo, 2011. "El Impulso Crediticio y el PBI en el Perú: 1992–2009," Working Papers 2011-001, Banco Central de Reserva del Perú.
  58. Rodrigo Valdés P., 2007. "Policy Responses to Sudden Stops in Capital Flows: The Case Of Chile In 1998," Working Papers Central Bank of Chile 430, Central Bank of Chile.
  59. Ramirez, Francisco A., 2012. "Crédito Al Sector Privado En República Dominicana (1997-2011): ¿Existe Evidencia De Racionamiento Del Crédito?
    [Private Sector Loans in the Dominican Republic (1997-2011):Is There Evidence of credi
    ," MPRA Paper 68333, University Library of Munich, Germany.
  60. Gómez Sabaini, Juan Carlos & Jiménez, Juan Pablo, 2009. "El papel de la política tributaria frente a la crisis: límites y posibilidades," Documentos de Proyectos 4166, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  61. Mauro Mecagni & Ruben V Atoyan & David J Hofman, 2009. "The Persistence of Capital Account Crises," IMF Working Papers 09/103, International Monetary Fund.
  62. Claudio Borio, 2014. "The financial cycle and macroeconomics: what have we learned and what are the policy implications?," Chapters, in: Financial Cycles and the Real Economy, chapter 2, pages 10-35 Edward Elgar Publishing.
  63. Vivian Z. Yue & Enrique G. Mendoza, 2009. "A Solution to the Default Risk-Business Cycle Disconnect," 2009 Meeting Papers 76, Society for Economic Dynamics.
  64. Timothy J. Kehoe & Kim J. Ruhl & Joseph B. Steinberg, 2013. "Global Imbalances and Structural Change in the United States," NBER Working Papers 19339, National Bureau of Economic Research, Inc.
  65. Alejandro Izquierdo & Randall Romero & Ernesto Talvi, 2008. "Bonanza y crisis en América Latina: El papel de los factores externos," Research Department Publications 4570, Inter-American Development Bank, Research Department.
  66. Michael D. Bordo, 2006. "Sudden Stops, Financial Crises, and Original Sin in Emerging Countries: Déjà vu?," NBER Working Papers 12393, National Bureau of Economic Research, Inc.
  67. Perez Caldentey, Esteban & Pineda, Ramon, 2010. "Does Latin America lag behind due to shaper recessions and/or slower recoveries?," MPRA Paper 25036, University Library of Munich, Germany.
  68. Ezra Oberfield, 2012. "Online Appendix to "Productivity and Misallocation During a Crisis: Evidence from the Chilean Crisis of 1982"," Technical Appendices 11-215, Review of Economic Dynamics.
  69. Borio, Claudio, 2014. "The financial cycle and macroeconomics: What have we learnt?," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 182-198.
  70. Zhanwei Z. Yue & Enrique G. Mendoza, 2011. "A General Equilibrium Model of Sovereign Default and Business Cycles," IMF Working Papers 11/166, International Monetary Fund.
  71. Magud, Nicolas E. & Vesperoni, Esteban R., 2015. "Exchange rate flexibility and credit during capital inflow reversals: Purgatory … not paradise," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 88-110.
  72. Laura Alfaro & Fabio Kanczuk, 2007. "Optimal reserve management and sovereign debt," Working Paper Series 2007-29, Federal Reserve Bank of San Francisco.
  73. Markus K. Brunnermeier & Yuliy Sannikov, 2012. "Redistributive monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 331-384.
  74. Valerie Cerra & Ugo Panizza & Sweta C. Saxena, 2013. "International Evidence On Recovery From Recessions," Contemporary Economic Policy, Western Economic Association International, vol. 31(2), pages 424-439, 04.
  75. 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.).
  76. Guillermo A. Calvo, 2012. "The Price Theory of Money, Prospero's Liquidity Trap, and Sudden Stop: Back to Basics and Back," NBER Working Papers 18285, National Bureau of Economic Research, Inc.
  77. Galina Hale & Carlos O. Arteta, 2007. "Currency crises and foreign credit in emerging markets: credit crunch or demand effect?," Working Paper Series 2007-02, Federal Reserve Bank of San Francisco.
  78. Wolf, Nikolaus, 2008. "Scylla and Charybdis. Explaining Europe’s Exit from Gold, January 1928- December 1936," CEPR Discussion Papers 6685, C.E.P.R. Discussion Papers.
  79. Ortiz, Alberto & Pablo, Ottonello & Sturzenegger, Federico & Talvi, Ernesto, 2007. "Monetary and Fiscal Policies in a Sudden Stop: Is Tighter Brighter?," Working Paper Series rwp07-057, Harvard University, John F. Kennedy School of Government.
  80. Lahura, Erick, 2011. "An Empirical Analysis of the Credit-Output Relationship: Evidence from Peru," Working Papers 2011-018, Banco Central de Reserva del Perú.
  81. Bijsterbosch, Martin & Dahlhaus, Tatjana, 2011. "Determinants of credit-less recoveries," Working Paper Series 1358, European Central Bank.
  82. Kacef, Osvaldo, 2009. "Crisis y políticas públicas en América Latina y el Caribe," Documentos de Proyectos 4164, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  83. Ayyagari, Meghana & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2011. "Do Phoenix miracles exist ? firm-level evidence from financial crises," Policy Research Working Paper Series 5799, The World Bank.
  84. Calvo, Guillermo & Coricelli, Fabrizio & Ottonello, Pablo, 2012. "The Labor Market Consequences of Financial Crises With or Without Inflation: Jobless and Wageless Recoveries," CEPR Discussion Papers 9218, C.E.P.R. Discussion Papers.
  85. Andrew van Hulten & Michael Webber, 2010. "Do developing countries need 'good' institutions and policies and deep financial markets to benefit from capital account liberalization?," Journal of Economic Geography, Oxford University Press, vol. 10(2), pages 283-319, March.
  86. 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.
  87. Feyen, Erik & Kibuuka, Katie & Otker-Robe, Inci, 2012. "Bank deleveraging : causes, channels, and consequences for emerging market and developing countries," Policy Research Working Paper Series 6086, The World Bank.
  88. Guillermo Calvo, 2015. "The Liquidity Approach to Bubbles, Crises, Jobless Recoveries, and Involuntary Unemployment," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 18(3), pages 04-27, December.
  89. Guillermo Calvo, 2013. "Puzzling over the Anatomy of Crises: Liquidity and the Veil of Finance," IMES Discussion Paper Series 13-E-09, Institute for Monetary and Economic Studies, Bank of Japan.
  90. Claudio Borio, 2014. "Monetary policy and financial stability: what role in prevention and recovery?," BIS Working Papers 440, Bank for International Settlements.
  91. Julio, Brandon & Yook, Youngsuk, 2016. "Policy uncertainty, irreversibility, and cross-border flows of capital," Journal of International Economics, Elsevier, vol. 103(C), pages 13-26.
  92. Prakash Kannan, 2010. "Credit Conditions and Recoveries from Recessions Associated with Financial Crises," IMF Working Papers 10/83, International Monetary Fund.
  93. Galina Hale & Assaf Razin & Hui Tong, 2012. "The Impact of Creditor Protection on Stock Prices in the Presence of Liquidity Crises: Theory and Cross-country Evidence," CESifo Working Paper Series 3765, CESifo Group Munich.
  94. Gurvich, E., 2016. "Evolution of Russian Macroeconomic Policy in Three Crises," Journal of the New Economic Association, New Economic Association, vol. 29(1), pages 174-181.
  95. Greetje Everaert & Natasha X Che & Nan Geng & Bertrand Gruss & Gregorio Impavido & Yinqiu Lu & Christian Saborowski & Jérôme Vandenbussche & Li Zeng, 2015. "Does Supply or Demand Drive the Credit Cycle? Evidence from Central, Eastern, and Southeastern Europe," IMF Working Papers 15/15, International Monetary Fund.
  96. Carlos E. Zarazaga, 2007. "The role of total factor productivity in 'Phoenix Miracles' : insights from an emerging market crisis," Working Papers 0605, Federal Reserve Bank of Dallas.
  97. Daniel DAIANU, 2015. "A Central Bank’S Dilemmas In Highly Uncertain Times - A Romanian View," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 159-180, March.
  98. Sophia Lazaretou, 2011. "Financial crises and financial market regulation: the long record of an ‘emerger’," Working Papers 140, Bank of Greece.
  99. repec:cml:moneta:v:xxxv:y:2013:i:1:p:1-35 is not listed on IDEAS
  100. Rose, Andrew K, 2006. "A Stable International Monetary System Emerges: Bretton Woods, Reversed," CEPR Discussion Papers 5854, C.E.P.R. Discussion Papers.
  101. Yan, Ho-don & Yang, Cheng-lang, 2008. "Foreign Capital Inflows and the Current Account Imbalance: Which Causality Direction?," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 23, pages 434-461.
  102. Stefan Behrendt, 2016. "Taking Stock - Credit Measures in Monetary Transmission," Jena Economic Research Papers 2016-002, Friedrich-Schiller-University Jena.
  103. Lorenzoni, Guido, 2014. "International Financial Crises," Handbook of International Economics, Elsevier.
  104. -, 2009. "Macroeconomic policies in times of crisis: options and perspectives," Documentos de Proyectos 275, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  105. Diego Valderrama, 2006. "What are the risks to the United States of a current account reversal?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue oct27.
  106. Kanczuk, Fabio, 2013. "Um Termômetro para as Macro-Prudenciais," Revista Brasileira de Economia, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil), vol. 67(4), November.
  107. Marcos Chamon & Christopher Crowe & Atish R. Ghosh & Jun Kim & Jonathan D. Ostry, 2009. "Conseils aux pays émergents sur la crise actuelle : quoi de neuf ? qu’est-ce qui a changé ? pourquoi ?," Revue d'Économie Financière, Programme National Persée, vol. 95(2), pages 307-323.
  108. 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.
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