Title Exchange-rate-based stabilization : a model of financial fragility / prepared by Yuri V. Sobolev

Published [Washington, D.C.] : International Monetary Fund, Policy Development and Review Dept., ©2000

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Description 1 online resource (36 pages) : illustrations Series IMF working paper, 2227-8885 ; WP/00/122 IMF working paper ; WP/00/122. Summary Annotation Interactions between banks and open capital account are investigated as rationalizations for empirical regularities characterizing disinflation programs anchored by the exchange rate. the financial system is characterized by bank dominance and lending externality banks do not internalize the effect of their lending on other banks information about potential borrowers. Model dynamics simulation shows that remonetization in the wake of disinflation increases loanable funds supply and translates into bank credit expansion financed by capital inflows. a credit-driven boom results, accompanied by overvaluation and current account deficits generating financial fragilities and vulnerability to a shock that can trigger banking and balance-of-payments crises Bibliography Includes bibliographical references (pages 34-36) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL English digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Foreign exchange rates -- Econometric models Inflation (Finance) -- Econometric models Economic stabilization -- Econometric models Deflation (Finance) Financial crises Balance of payments. Devaluation of currency. Deflation (Finance) -- Econometric models Financial crises -- Econometric models Balance of payments -- Econometric models Devaluation of currency -- Econometric models Financial crises -- Econometric models Devaluation of currency -- Econometric models Deflation (Finance) -- Econometric models Balance of payments -- Econometric models Balance of payments Deflation (Finance) Devaluation of currency Economic stabilization -- Econometric models Financial crises Foreign exchange rates -- Econometric models Inflation (Finance) -- Econometric models Form Electronic book Author International Monetary Fund. Policy Development and Review Department. ISBN 1451899823 9781451899825 1462337805 9781462337804 1452798664 9781452798660 1282111736 9781282111738 9786613803924 6613803928

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