Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
The Devaluation Of The Mexican Peso In 1994
Download The Devaluation Of The Mexican Peso In 1994 full books in PDF, epub, and Kindle. Read online The Devaluation Of The Mexican Peso In 1994 ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis The Mexican Peso Crisis by : Mr.Paul R. Masson
Download or read book The Mexican Peso Crisis written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1996-01-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
Book Synopsis The Devaluation of the Mexican Peso in 1994 by : Jonathan E. Heath
Download or read book The Devaluation of the Mexican Peso in 1994 written by Jonathan E. Heath and published by . This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Mexican Peso Crisis by : Paul R. Masson
Download or read book The Mexican Peso Crisis written by Paul R. Masson and published by . This book was released on 2006 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
Download or read book Unexpected Outcomes written by Carol Wise and published by Brookings Institution Press. This book was released on 2015-03-10 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008-2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.
Book Synopsis The Morning After by : Sebastian Edwards
Download or read book The Morning After written by Sebastian Edwards and published by . This book was released on 1998 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Mexican peso crisis of December 1994 shocked politicians, analysits, and pundits. Shock was followed by panic, as investors flew the country. It took a massive bail-out package put together by the IMF and the US Treasury to generate some tranquility in the markets in mid to late 1995. From early on the Mexican authorities stated that stabilizing the value of the peso, within the context of a freely floating exchange rate regime, was one of their most important objectives. During most of 1995 this objective seemed to be highly elusive. Starting in 1996, however, the peso began to exhibit an impressive degree of stability. So much so that a number of analysts began to wonder whether this stability was consistent with a freely floating regime. Some even argued that it was d'j ... vu' all over again, and that the Bank of Mexico was manipulating monetary policy in order to artificially maintain a strong peso. In this paper we try to explain the relative stability exhibited by the peso/dollar nominal exchange rate since late 1995. Specifically, we approach this issue from two main angles: First, we ask whether the behavior of the peso/dollar rate since 1995 is broadly comparable or consistent with the behavior of a 'typical' floating exchange rate. Our answer to this question was a qualified yes. Second, we explore whether during 1996-97 the Bank of Mexico followed some sort of feedback rule from the exchange rate to monetary policy. Our answer to this question was another qualified yes, but perhaps more strongly qualified than the first one.
Book Synopsis Credibility, Reputation, and the Mexican Peso Crisis by : Pierre-Richard Agenor
Download or read book Credibility, Reputation, and the Mexican Peso Crisis written by Pierre-Richard Agenor and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A model emphasizing the tradeoff between the costs of changes of domestic interest rates and exchange rate stability is used to assess the role of credibility and reputational factors in the lead-up to the December 1994 crisis of the Mexican peso. Devaluation expectations are decomposed into the probability that the authorities do not truly put a high weight on exchange rate stability and the probability that an exogenous shock will make a devaluation the preferred policy. Estimates indicate that prior to the peso collapse there was no significant increase in devaluation fears and no perceived shift in the authorities' policy preferences. But the increase in the differential that occurred after the devaluation may have resulated from such a shift.
Book Synopsis Financial Fragility and Mexico's 1994 Peso Crisis by : Berry K. Wilson
Download or read book Financial Fragility and Mexico's 1994 Peso Crisis written by Berry K. Wilson and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Persistent cycles of devaluation, debt repudiation, and financial crisis have been recurrent themes in Latin America and elsewhere. This study focuses on one such event, namely, the Mexican peso devaluation, debt, and financial-sector crisis of 1994-95. This paper utilizes an event-study framework, with daily stock market data, to document financial market responses to the unfolding crisis. In particular, we find that the devaluation itself was viewed as relatively benighn by market participants. The results also show little evidence that investors anticipated the peso devaluation, the declining reserve levels of Mexico's central bank, and the increasing sovereign default risk of Mexico. However, the results suggest that the equity markets did respond positively to remedial actions taken by governmental authorities, such as the Clinton bailout plan.
Book Synopsis Speculative Attacks and Currency Crises by : Ms.Inci Ötker
Download or read book Speculative Attacks and Currency Crises written by Ms.Inci Ötker and published by International Monetary Fund. This book was released on 1995-11-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates a speculative attack model of currency crises in order to identify the role of economic fundamentals and any early warning signals of a potential currency crisis. The data from the Mexican economy was used to illustrate the model. Based on the results, a deterioration in fundamentals appears to have generated high one-step-ahead probabilities for the regime changes during the sample period 1982-1994. Particularly, increases in inflation differentials, appreciations of the real exchange rate, foreign reserve losses, expansionary monetary and fiscal policies, and increases in the share of short-term foreign currency debt appear to have contributed to the market pressures and regime changes in that period.
Book Synopsis The Mexican Peso Crisis of 1994/1995 by : Nicole Susan LaBossière
Download or read book The Mexican Peso Crisis of 1994/1995 written by Nicole Susan LaBossière and published by . This book was released on 1996 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The 1994 Mexican Peso Crisis by : Malak Zein Makki
Download or read book The 1994 Mexican Peso Crisis written by Malak Zein Makki and published by . This book was released on 2003 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis ˜Theœ 1994-95 Mexican Peso Crisis by : Kenneth Froot
Download or read book ˜Theœ 1994-95 Mexican Peso Crisis written by Kenneth Froot and published by . This book was released on 1999 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mexico's 1994 Exchange Rate Crisis Interpreted in Light of the Non-traded Model by : Andrew M. Warner
Download or read book Mexico's 1994 Exchange Rate Crisis Interpreted in Light of the Non-traded Model written by Andrew M. Warner and published by . This book was released on 1997 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to make the case that a 2-sector model using the familiar traded non-traded distinction offers a reasonably successful empirical account of why Mexico needed to devalue its exchange rate in 1994. This model provides a way to define and measure disequilibrium in the exchange rate, and thus may be useful in assessing the likelihood of an exchange rate crisis in other developing countries. The results suggest that Mexico's exchange rate was about 25 percent overvalued on the eve of its 1994 crisis, but was much closer to equilibrium by the end of 1996. The approach in this paper is compared with other ways of assessing disequilibrium in the exchange rate, based on purchasing power parity or monetary models of the exchange rate.
Book Synopsis The Mexican Peso Crisis by : Nora Lustig
Download or read book The Mexican Peso Crisis written by Nora Lustig and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bank Ownership written by Robert Cull and published by International Monetary Fund. This book was released on 2017-03-22 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents recent trends in bank ownership across countries and summarizes the evidence regarding the implications of bank ownership structure for bank performance and competition, financial stability, and access to finance. The evidence reviewed suggests that foreign-owned banks are more efficient than domestic banks in developing countries, promote competition in host banking sectors, and help stabilize credit when host countries face idiosyncratic shocks. But there are tradeoffs, since foreign-owned banks can transmit external shocks and might not always expand access to credit. The record on the impact of government bank ownership suggests few benefits, especially for developing countries.
Book Synopsis The Exogenous Shock by : Christopher Edward Nolte
Download or read book The Exogenous Shock written by Christopher Edward Nolte and published by . This book was released on 1996 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mexico's Financial Sector Crisis by : Berry K. Wilson
Download or read book Mexico's Financial Sector Crisis written by Berry K. Wilson and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp 1994 Mexican peso devaluation was followed by a financial-sector crisis, forcing the Mexican government to retake control of several banks and to grant substantial assistance to many others. This paper tests several hypotheses concerning the impact of devaluation. First, event-study methodology is used to test whether some sectors of Mexican economy were 'devaluation-gaining' while others were 'devaluation-losing'. Second, we test whether devaluation shocks were transmitted to the financial sector through the liability side versus the asset side of bank balance sheets. Our results indicate the importance of asset diversification.
Book Synopsis A Political Reading of Neoliberalism and the Mexican Peso Crisis of 1994-1995 by : Leopoldo Rodriguez Boetsch
Download or read book A Political Reading of Neoliberalism and the Mexican Peso Crisis of 1994-1995 written by Leopoldo Rodriguez Boetsch and published by . This book was released on 1999 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
