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Conventional and Insidious Macroeconomic Balance-Sheet Crises / Bas Bakker, Leslie Lipschitz.
- Format:
- Book
- Government document
- Author/Creator:
- Bakker, Bas.
- International Monetary Fund, author.
- Series:
- IMF Working Papers; Working Paper ; No. 2014/160
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Macroeconomics.
- Physical Description:
- 1 online resource (41 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2014.
- Language Note:
- English
- Summary:
- This paper describes the anatomy of two types of balance-sheet macroeconomic crises. Conventional balance-sheet crises are triggered by external imbalances and balance sheet vulnerabilities. They typically occur after capital inflows have led to a substantial build up of foreign currency exposure. Insidious crises are triggered by internal imbalances and balance sheet vulnerabilities. They occur in high-growth economies when an initially equilibrating shift in relative prices and resources and credit in favor of the nontraded sector overshoots equilibrium. The paper argues that policymakers are now better able to forestall conventional crises, but they are much less capable of early detection and avoidance of insidious crises.
- Contents:
- Cover; Abstract; Contents; Executive Summary; I. Introduction; II. Conventional Macroeconomic Balance-Sheet Crises; A. Thailand; Figures; 1. Thailand: Boom-Bust, BOP Developments; 2. Thailand: Boom-Bust, Economic Indicators; B. Latvia; 3. Latvia: Boom-Bust, BOP Developments; 4. Latvia: Boom-Bust, Economic Indicators; C. Insidious Crises; D. Japan; 5. Japan: Exports and Real Effective Exchange Rate; 6. Japan: Domestic Demand Boom; 7. Japan: Economic Indicators; 8. Japan: The NPL Problem; E. Ireland; 9. Ireland: Export and Real Effective Exchange Rate; 10. Ireland: Domestic Demand Boom
- 11. Ireland: Economic IndicatorsIII. Can Governments Correct Vulnerabilities Before They Become Crises?; 12. China: Exports and Real Effective Exchange Rate; 13. China: Domestic Demand Boom; 14. China: Economic Indicators; IV. Conclusion; References
- Notes:
- Description based upon print version of record.
- Includes bibliographical references.
- Description based on online resource; title from PDF title page (ebrary, viewed September 27, 2014).
- ISBN:
- 9781498382717
- 1498382711
- 9781498369947
- 1498369944
- 9781498365765
- 1498365760
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