Author: Mr.Paul R. Masson
Publisher: International Monetary Fund
ISBN: 1451929099
Category : Business & Economics
Languages : en
Pages : 36
Book Description
This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
The Mexican Peso Crisis
Author: Mr.Paul R. Masson
Publisher: International Monetary Fund
ISBN: 1451929099
Category : Business & Economics
Languages : en
Pages : 36
Book Description
This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
Publisher: International Monetary Fund
ISBN: 1451929099
Category : Business & Economics
Languages : en
Pages : 36
Book Description
This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
The Mexican Currency Crisis
Author: Robert G. Anzalone
Publisher:
ISBN:
Category :
Languages : en
Pages : 94
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 94
Book Description
The Effect of the Peso Devaluation on California's Border Communities
Author: Lawrence W. Piper
Publisher:
ISBN:
Category :
Languages : en
Pages : 68
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 68
Book Description
The Mexican Peso Crisis
Author: Paul R. Masson
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
Book Description
This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
Book Description
This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
Regional Effects of the Peso Devaluation
Author: Joe P Mattey
Publisher:
ISBN:
Category :
Languages : en
Pages : 4
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 4
Book Description
NAFTA and Peso Devaluation
Author: United States. Congress. House. Committee on Small Business
Publisher:
ISBN: 9780160440540
Category : Business & Economics
Languages : en
Pages : 172
Book Description
Publisher:
ISBN: 9780160440540
Category : Business & Economics
Languages : en
Pages : 172
Book Description
Impact of Peso Devaluations on U.S. Small Business and Adequacy of SBA's Peso Pack Program
Author: United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee
Publisher:
ISBN:
Category : Business failures
Languages : en
Pages : 674
Book Description
Publisher:
ISBN:
Category : Business failures
Languages : en
Pages : 674
Book Description
The Peso Devaluation
Author: Kevin F. Crawford
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 142
Book Description
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 142
Book Description
Analysis of the Mexican peso devaluation
Author: Ruth Ann Foster
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 160
Book Description
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 160
Book Description
Unexpected Outcomes
Author: Carol Wise
Publisher: Brookings Institution Press
ISBN: 0815724772
Category : Political Science
Languages : en
Pages : 258
Book Description
This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008-2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.
Publisher: Brookings Institution Press
ISBN: 0815724772
Category : Political Science
Languages : en
Pages : 258
Book Description
This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008-2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.