| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2691 |
| DP2691 The Feasible Gains from International Risk Sharing | |
| Sylvester Eijffinger; Wolf Wagner | |
| 发表日期 | 2001-02-27 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | 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 played important roles. The output effects of this currency crisis resemble those of the typical emerging market crisis as much as they do the more moderate effects of the typical industrial-country crisis, reflecting the influence of the aforementioned capital mobility and financial fragility. Leading indicator models, constructed using data from the Tequila and the Asian flu are shown to do a surprisingly good job at backcasting which European countries suffered currency instability in 1992/3, although these models also point to what was distinctive about the European case. |
| 主题 | International Macroeconomics |
| 关键词 | Ems Emerging markets Europe Financial crises |
| URL | https://cepr.org/publications/dp2691 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531750 |
| 推荐引用方式 GB/T 7714 | Sylvester Eijffinger,Wolf Wagner. DP2691 The Feasible Gains from International Risk Sharing. 2001. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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