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Sudden Stop, Financial Factors, and Economic Collapse in Latin America: Learning from Argentina and Chile 1

Guillermo A. Calvo and Ernesto Talvi

in The Washington Consensus Reconsidered: Towards a New Global Governance

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199534081
eISBN:
9780191714658
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199534081.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter shows that the Russian 1998 crisis had a big impact on capital flows to Emerging Market Economies (EMEs), especially in Latin America, and that the impact of the Russian shock differs ... More


Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability: Argentina's Lessons

Guillermo A. Calvo, Alejandro Izquierdo, and Ernesto Talvi

in Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271405
eISBN:
9780191601200
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271402.003.0010
Subject:
Economics and Finance, Economic Systems

Argentina’s vulnerability to Sudden Stops in capital flows provides an alternative explanation for the fall of Argentina’s Convertibility Program. Sudden Stops are typically accompanied by a ... More


Systemic Sudden Stops: The Relevance of Balance-Sheet Effects and Financial Integration

Guillermo Calvo, Alejandro Izquierdo, and Luis-Fernando Mejía

in Macroeconomics in Times of Liquidity Crises: Searching for Economic Essentials

Published in print:
2016
Published Online:
May 2017
ISBN:
9780262035415
eISBN:
9780262336017
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262035415.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

Using a sample of 110 developed and developing countries for the period 1990-2004, the chapter claims that a small supply of tradable goods relative to their domestic absorption, and large ... More


Must Original Sin Cause Macroeconomic Damnation?

Luis Felipe Céspedes, Roberto Chang, and AndrCés Velasco (eds)

in Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economies

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226194554
eISBN:
9780226194578
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226194578.003.0003
Subject:
Economics and Finance, International

This chapter develops a simple general equilibrium open-economy model in which real exchange rates play a central role in the adjustment process, wages and prices are sticky in terms of domestic ... More


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