Sudden stops and optimal self-insurance [[electronic resource] /] / prepared by Jun Il Kim

• Autore: Kim Jun (Jun Il)
• Pubblicazione: Washington, D.C., : International Monetary Fund, Research Dept., 2008
• Descrizione fisica: 1 online resource (36 p.)
• Soggetto topico: Bank reserves - Developing countries - Econometric models; Financial crises - Developing countries - Econometric models
• Soggetto genere / forma: Electronic books.
• Note generali: "June 2008."
• Nota di bibliografia: Includes bibliographical references (p. 34).
• Nota di contenuto: Contents; I. Introduction; II. The Model; III. Model Calibration; IV. Concluding Remarks; Text Tables; 1. Actual and Calibrated Optimal Reserves for Selected EM Countries: 1993-2006; 2. Implied Probability of a Sudden Stop for Selected EM Countries: 1994-2007; 3. IMF Arrangements for Selected EM Countries: 1993-2006; Text Figures; 1. Actual and Calibrated Optimal Reserves for Selected EM Countries: 1993-; A. Latin America; B. Asia, Russia and Turkey; 2. Implied Probability of a Sudden Stop for Selected EM Countries: 1994-; A. Latin America; B. Asia, Russia and Turkey ; 3. Actual θ and Default Threshold θ* for Selected EM Countries: 1993-A. Latin America; B. Asia, Russia and Turkey; 4. Sources of Reserve Accumulation for Selected EM Countries: 1993-; A. Latin America; B. Asia, Russia and Turkey; Appendix: Creditor Coordination Problem; References
• Sommario/riassunto: This paper presents a simple model of optimal reserves that can be easily calibrated to compute optimal reserves as well as the implied probability of a sudden stop for given reserves. The model builds upon the global games framework of Morris and Shin to establish a unique relationship between the probability of a sudden stop and the level of reserves. The calibration results for 15 selected emerging market countries in Latin America, Asia and other regions over the sample period of 1993-2006 suggest that the risk of sudden stops may have declined to a low level in recent years in all countri
• Titolo autorizzato: Sudden stops and optimal self-insurance
• ISBN: 1-4623-8001-8; 1-4527-8137-0; 1-4518-7002-7; 1-282-84095-9; 9786612840951
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910464002203321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/08/144.