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Author: Jean-Charles Kraehn
Publisher: Cinebook
ISBN: 1800448139
Category : Comics & Graphic Novels
Languages : en
Pages : 58
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Book Description
Redbeard, the big-hearted pirate captain, has put away the Jolly Roger and become a privateer for the King of France. But one does not escape one’s past ... or one’s nature! High adventures on the high seas - first volume of the series. 1738, Cap-Français, in the Caribbean. Redbeard, once the terror of the Seven Seas, has partially retired. Now a privateer in the service of the King of France, he chomps at the bit along with his companions, for France is currently at peace. So, when the town’s governor tasks him with catching a mysterious French pirate who terrorises the Carolinas, he jumps at the chance to get back into the fray. But he made many enemies during his pirate years, and danger lurks in wait ...
Author: Jean-Charles Kraehn
Publisher: Cinebook
ISBN: 1800448139
Category : Comics & Graphic Novels
Languages : en
Pages : 58
Get Book Here
Book Description
Redbeard, the big-hearted pirate captain, has put away the Jolly Roger and become a privateer for the King of France. But one does not escape one’s past ... or one’s nature! High adventures on the high seas - first volume of the series. 1738, Cap-Français, in the Caribbean. Redbeard, once the terror of the Seven Seas, has partially retired. Now a privateer in the service of the King of France, he chomps at the bit along with his companions, for France is currently at peace. So, when the town’s governor tasks him with catching a mysterious French pirate who terrorises the Carolinas, he jumps at the chance to get back into the fray. But he made many enemies during his pirate years, and danger lurks in wait ...
Author: V. V. Chari
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 32
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Book Description
"In recent financial crises and in recent theoretical studies of them, abrupt declines in capital inflows, or sudden stops, have been linked with large drops in output.Do sudden stops cause output drops? No, according to a standard equilibrium model in which sudden stops are generated by an abrupt tightening of a country's collateral constraint on foreign borrowing.In this model, in fact, sudden stops lead to output increases, not decreases.An examination of the quantitative effects of a well-known sudden stop, in Mexico in the mid-1990s, confirms that a drop in output accompanying a sudden stop cannot be accounted for by the sudden stop alone.To generate an output drop during a financial crisis, as other studies have done, the model must include other economic frictions which have negative effects on output large enough to overwhelm the positive effect of the sudden stop"--Federal Reserve Bank of Minneapolis web site.
Author: Luis Catão
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
This paper shows that recent manifestations of sudden stops (SSs) in international capital flows have striking parallels in the early financial globalization era preceding World War I. All main capital-importing countries then faced episodic capital flow reversals averaging some 5 percent of GDP and with a median duration of four years. Most SSs also displayed striking crosscountry synchronization, being immediately preceded by rising world interest rates. Both fixed and floating exchange rate regimes were hit, with no significant differences between them. Yet, not all SSs resulted in currency drops: while some countries experienced currency collapses, others managed to preserve exchange rate stability. These different responses are related to domestic "frictions" that heightened the procyclicality of absorption and hindered precautionary reserve accumulation in some countries relative to others.
Author:
Publisher: Dorrance Publishing
ISBN: 1434954404
Category :
Languages : en
Pages : 174
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Book Description
Author: Enrique G. Mendoza
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 44
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Book Description
"This paper shows that the quantitative predictions of a DSGE model with an endogenous collateral constraint are consistent with key features of the emerging markets' Sudden Stops. Business cycle dynamics produce periods of expansion during which the ratio of debt to asset values raises enough to trigger the constraint. This sets in motion a deflation of Tobin's Q driven by Irving Fisher's debt-deflation mechanism, which causes a spiraling decline in credit access and in the price and quantity of collateral assets. Output and factor allocations decline because the collateral constraint limits access to working capital financing. This credit constraint induces significant amplification and asymmetry in the responses of macro-aggregates to shocks. Because of precautionary saving, Sudden Stops are low probability events nested within normal cycles in the long run"--P.1.
Author: Ricardo J. Caballero
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 70
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Book Description
Even well managed emerging market economies are exposed to significant external risk, the bulk of which is financial. At a moment's notice, these economies may be required to reverse the capital inflows that have supported the preceding boom. Even if such a reversal does not take place, its anticipation often leads to costly precautionary measures and recessions. In this paper, we characterize the business cycle of an economy that on average needs to borrow but faces stochastic financial constraints. We focus on the optimal financial policy of such an economy under different imperfections and degrees of crowding out in its hedging opportunities. The model is simple enough to be analytically tractable but flexible and realistic enough to provide quantitative guidance. Keywords: Capital Flows, Sudden Stops, Financial Constraints, Recessions, Hedging, Insurance, Signals, Contingent Credit Lines, Asymmetric Information. JEL Classification: E2, E3, F3, F4, G0, C1.
Author:
Publisher:
ISBN:
Category : Law reports, digests, etc
Languages : en
Pages : 1074
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Book Description
"Cases argued and determined in the Court of Appeals, Supreme and lower courts of record of New York State, with key number annotations." (varies)
Author: Wes Scantlin
Publisher: Lulu.com
ISBN: 1257093010
Category : Fiction
Languages : en
Pages : 214
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Book Description
In depth look at funeral practices complete with scenes, causes of death, treatment of remains and disposition of them. written by a funeral service professional on a very personal level. Different from anything you've ever read before. Haunting and sometimes macabre with occassional dark humor.
Author: Ceyhun Bora Durdu
Publisher: International Monetary Fund
ISBN:
Category : Economic policy
Languages : en
Pages : 44
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Book Description
An implication of the "globalization hazard" hypothesis is that sudden stops could be prevented by offering foreign investors price guarantees on emerging markets assets. These guarantees create a tradeoff, however, because they weaken globalization hazard by creating international moral hazard. We study this tradeoff using an equilibrium asset-pricing model. Without guarantees, margin calls and trading costs cause Sudden Stops driven by Fisher's debt-deflation process. Price guarantees prevent this deflation by propping up foreign asset demand, but their effectiveness and welfare implications depend critically on the price elasticity of foreign demand and on making the guarantees contingent on debt levels.
Author:
Publisher:
ISBN:
Category : Automobiles
Languages : en
Pages : 604
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Book Description
