00661nam0-22002531i-450-990006994550403321000699455FED01000699455(Aleph)000699455FED0100069945519990530g19629999km-y0itay50------bafrey-------001yy<<Le >>préclassicismepar Pierre SageParisDel Duca1962472 p.20 cmSage,Pierre388386ITUNINARICAUNIMARCBK990006994550403321BIB. BAT.47665689BATBATPréclassicisme237668UNINA05241oam 22013814 450 991097515120332120250426110831.0978661382738897814623266001462326609978145279857814527985759781283514934128351493197814519091421451909144(CKB)3360000000443666(EBL)3014308(SSID)ssj0000943266(PQKBManifestationID)11584498(PQKBTitleCode)TC0000943266(PQKBWorkID)10975387(PQKB)10462282(OCoLC)698585477(MiAaPQ)EBC3014308(IMF)WPIEE2006133(IMF)WPIEA2006133WPIEA2006133(EXLCZ)99336000000044366620020129d2006 uf 0engurcnu||||||||txtccrSudden Stops and Currency Drops : A Historical Look /Luis Catão1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (61 p.)IMF Working PapersAt head of title: Research Department."May 2006."9781451863932 1451863934 Includes bibliographical references (p. 52-59).""Contents""; ""I. INTRODUCTION""; ""II. PATTERNS OF SUDDEN STOPS""; ""III. CAPITAL FLOWS AND CURRENCY CRASHES""; ""IV. DOMESTIC FINANCIAL IMPERFECTIONS AND PROCYCLICAL BEHAVIOR""; ""V. CONCLUSION""; ""REFERENCES""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.IMF Working Papers; Working Paper ;No. 2006/133RecessionsFinancial crisesHistoryBusiness cyclesHistoryCapital flowsimfCapital inflowsimfCapital movementsimfClearing of securitiesimfCurrenciesimfCurrencyimfExchange ratesimfExports and ImportsimfFinanceimfFinance: GeneralimfFinancial InstrumentsimfForeign ExchangeimfForeign exchangeimfGovernment and the Monetary SystemimfInstitutional InvestorsimfInternational economicsimfInternational InvestmentimfLong-term Capital MovementsimfMonetary economicsimfMonetary SystemsimfMoney and Monetary PolicyimfMoneyimfNon-bank Financial InstitutionsimfPayment SystemsimfPension FundsimfRegimesimfSecurities settlement systemsimfStandardsimfArgentinaimfRecessions.Financial crisesHistory.Business cyclesHistory.Capital flowsCapital inflowsCapital movementsClearing of securitiesCurrenciesCurrencyExchange ratesExports and ImportsFinanceFinance: GeneralFinancial InstrumentsForeign ExchangeForeign exchangeGovernment and the Monetary SystemInstitutional InvestorsInternational economicsInternational InvestmentLong-term Capital MovementsMonetary economicsMonetary SystemsMoney and Monetary PolicyMoneyNon-bank Financial InstitutionsPayment SystemsPension FundsRegimesSecurities settlement systemsStandardsCatão Luis1816353International Monetary Fund.Research Dept.DcWaIMFBOOK9910975151203321Sudden Stops and Currency Drops4372489UNINA