The persistence of capital account crises /

This study contributes to the literature on capital account crises in two ways. First, our analysis of crisis episodes between 1994 and 2002 establishes a clear relationship between the persistence of crises, their complexity, and the intensity of movement of key macroeconomic variables. Second, we...

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Main Authors: Mecagni, Mauro (Author), Atoyan, Ruben (Ruben V.) (Author), Hofman, David (David J. V.) (Author)
Corporate Author: International Monetary Fund. Strategy, Policy, and Review Department
Format: Electronic eBook
Language:English
Published: [Washington, DC] : International Monetary Fund, 2009
Series:IMF working paper ; WP/09/103.
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Local Note:ProQuest Ebook Central

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100 1 |a Mecagni, Mauro,  |e author. 
245 1 4 |a The persistence of capital account crises /  |c prepared by Mauro Mecagni, Ruben Atoyan, David Hofman. 
260 |a [Washington, DC] :  |b International Monetary Fund,  |c ©2009. 
300 |a 1 online resource (28 pages) :  |b color illustrations. 
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490 1 |a IMF working paper ;  |v WP/09/103 
504 |a Includes bibliographical references (pages 27-28). 
505 0 |a I. Introduction; II. Conceptual Framework and Methodology; A. Crisis Persistence, Complexity, and Macroeconomic Effects; Figures; 1. Average Duration and Crisis Complexity; Tables; 1. Duration and Nature of Crises; 2. Crisis Complexity, Duration, and Macroeconomic Costs; B. Determinants of the Duration of Crises; 3. Post-Crisis Vulnerabilities; C. Econometric Methodology; III. Persistence of Capital Account Crises; A. Estimation Results and Robustness Tests; 2. Estimation Results for the Capital Account Crises Duration Model; Boxes; 1. Some Further Diagnostic Results 
505 8 |a B. Counterfactual Experiments3. Descriptive Statistics for the Model Variables; 4. Predicted Probabilities of Staying in Crisis under Different Scenarios; 5. Increase in Predicted Probability of Exit from Crisis under Various Scenarios; 6. Reduction in Predicted Crisis Duration under Various Scenarios; IV. Conclusions; Appendices; 1. Measuring the Duration of Capital Account Crises; 2. A Model for the Duration of Capital Account Crises; References 
520 |a This study contributes to the literature on capital account crises in two ways. First, our analysis of crisis episodes between 1994 and 2002 establishes a clear relationship between the persistence of crises, their complexity, and the intensity of movement of key macroeconomic variables. Second, we provide a systematic examination of the determinants of crisis duration. Our econometric analysis suggests that initial conditions and the external environment plays a key role in determining crisis persistence. The policy response also matters, but cannot offset a record of poor past policies. Over. 
588 0 |a Print version record. 
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650 0 |a Financial crises. 
650 0 |a Capital movements. 
700 1 |a Atoyan, Ruben  |q (Ruben V.),  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjJBDtjctryQ3YHjGDvY6C 
700 1 |a Hofman, David  |q (David J. V.),  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjxw7dfjyxcgMBgk9TcvBP 
710 2 |a International Monetary Fund.  |b Strategy, Policy, and Review Department. 
758 |i has work:  |a The persistence of capital account crises (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGpH77vDYh8KRvM37CKdjP  |4 https://id.oclc.org/worldcat/ontology/hasWork 
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