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Insurance Underwriter or Financial Development Fund : What Role for Reserve Pooling in Latin America?

Eichengreen, Barry - 2006

The accumulation of international reserves by emerging markets raises the question of how to best utilize these funds. This paper explores two routes through which the pooling of reserves could enhance stability and welfare. First, the reserve pool could be used for emergency lending in response...

Persistent link: https://www.econbiz.de/10012466213

Fetters of Gold and Paper

Eichengreen, Barry - 2010

We describe in this essay why the gold standard and the euro are extreme forms of fixed exchange rates, and how these policies had their most potent effects in the worst peaceful economic periods in modern times. While we are lucky to have avoided another catastrophe like the Great Depression in...

Persistent link: https://www.econbiz.de/10012462453

From Great Depression to Great Credit Crisis : Similarities, Differences and Lessons

Almunia, Miguel - 2009

The Great Depression of the 1930s and the Great Credit Crisis of the 2000s had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies in the...

Persistent link: https://www.econbiz.de/10012463125

Currency Crisis and Unemployment : Sterling in 1931

Eichengreen, Barry - 1998

This paper studies the role of unemployment in sterling's interwar experience. According to most narrative accounts, the proximate cause of the 1931 sterling crisis was a high and rising unemployment rate that placed pressure on British governments to pursue reflationary policies. We present a...

Persistent link: https://www.econbiz.de/10012472245

Contagious Currency Crises

Eichengreen, Barry - 1996

This paper is concerned with the fact that the incidence of speculative attacks tends to be temporally correlated; that is, currency crises appear to pass contagiously from one country to another. The paper provides a survey of the theoretical literature, and analyzes the contagious nature of...

Persistent link: https://www.econbiz.de/10012473161

Can Foreign Aid Accelerate Stabilization?

Casella, Alessandra - 1994

This paper studies the effect of foreign aid on economic stabilization. Following Alesina and Drazen (1991), we model the delay in stabilizing as the result of a distributional struggle: reforms are postponed because they are costly and each distributional faction hopes to reduce its share of...

Persistent link: https://www.econbiz.de/10012474234

The EMS Crisis in Retrospect

Eichengreen, Barry - 2000

This paper reconsiders the 1992-3 crisis in the European Monetary System in light of its emerging market successors. That episode was a predecessor of the Mexican and Asian crises in the sense that both capital movements and domestic financial fragility placed important roles. The output effects...

Persistent link: https://www.econbiz.de/10012470695

The Breakup of the Euro Area

Eichengreen, Barry - 2007

The possibility that the euro area might break up was being raised even before the single currency existed. These scenarios were then lent new life five or six years on, when appreciation of the euro and problems of slow growth in various member states led politicians to blame the European...

Persistent link: https://www.econbiz.de/10012465257

Bond Markets as Conduits for Capital Flows : How Does Asia Compare?

Eichengreen, Barry - 2006

of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … head and shoulders above other regions in terms of financial integration. More interesting is that Asia already seems to …, and greater transparency that lead to larger and better developed financial systems in Asia, something that is conducive …

Persistent link: https://www.econbiz.de/10012466257

The Impact of China on the Exports of Other Asian Countries

Eichengreen, Barry - 2004

We analyze the impact of China's growth on the exports of other Asian countries. Our innovation is to distinguish the …

Persistent link: https://www.econbiz.de/10012467922