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010   $a1-283-51493-1
010   $a9786613827388
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035   $a(EBL)3014308
035   $a(SSID)ssj0000943266
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035   $a(PQKBTitleCode)TC0000943266
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035   $a(OCoLC)698585477
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035   $a(IMF)WPIEE2006133
035   $a(EXLCZ)993360000000443666
100   $a20070104d2006      uf         0
101 0 $aeng
135   $aurcnu||||||||
181   $ctxt
182   $cc
183   $acr
200 10$aSudden stops and currency drops $ea historical look /$f[prepared by] Luis A.V. Catao
205   $a1st ed.
210   $a[Washington, D.C.] $cInternational Monetary Fund$dc2006
215   $a1 online resource (61 p.)
225 1 $aIMF working paper ;$vWP/06/133
300   $aAt head of title: Research Department.
300   $a"May 2006."
311   $a1-4518-6393-4 
320   $aIncludes bibliographical references (p. 52-59).
327   $a""Contents""; ""I. INTRODUCTION""; ""II. PATTERNS OF SUDDEN STOPS""; ""III. CAPITAL FLOWS AND CURRENCY CRASHES""; ""IV. DOMESTIC FINANCIAL IMPERFECTIONS AND PROCYCLICAL BEHAVIOR""; ""V. CONCLUSION""; ""REFERENCES""
330 3 $aThis paper shows that recent manifestations of sudden stops (SSs) in international capital flows have striking parallels in the early financial globalization era preceding World War I. All main capital-importing countries then faced episodic capital flow reversals averaging some 5 percent of GDP and with a median duration of four years. Most SSs also displayed striking crosscountry synchronization, being immediately preceded by rising world interest rates. Both fixed and floating exchange rate regimes were hit, with no significant differences between them. Yet, not all SSs resulted in currency drops: while some countries experienced currency collapses, others managed to preserve exchange rate stability. These different responses are related to domestic "frictions" that heightened the procyclicality of absorption and hindered precautionary reserve accumulation in some countries relative to others.
410  0$aIMF working paper ;$vWP/06/133.
606   $aRecessions
606   $aFinancial crises$xHistory
606   $aBusiness cycles$xHistory
615  0$aRecessions.
615  0$aFinancial crises$xHistory.
615  0$aBusiness cycles$xHistory.
700   $aCatao$b Luis$00
712 02$aInternational Monetary Fund.$bResearch Dept.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910826874503321
996   $aSudden Stops and Currency Drops$94077594
997   $aUNINA