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Contagion [electronic resource] : Monsoonal Effects, Spillovers, and Jumps Between Multiple Equilibria, Masson, Paul R..

Author/Creator:
Masson, Paul R.
Publication:
Washington, D.C. : International Monetary Fund, 1998.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 98/142.
IMF Working Papers; Working Paper No. 98/142
Format/Description:
Government document
Book
1 online resource (32 p.)
Local subjects:
Asian crisis.
Asian currency crisis.
Balance of payments.
Bank runs.
Central bank.
Central banks.
Competitiveness.
Contagion.
Currency composition.
Currency crises.
Currency crisis.
Currency debt.
Currency debts.
Currency risk.
Current account.
Current account deficit.
Current account deficits.
Debt crisis.
Debt service.
Debt stock.
Deposit insurance.
Domestic currency.
Exchange rate crisis.
External debt.
External indebtedness.
Financial crises.
Foreign currency debt.
Foreign currency debts.
Foreign debt.
Mexican peso crisis.
Public debt.
Reserve bank.
Speculative attacks.
Stock of debt.
Malaysia.
Mexico.
Thailand.
Summary:
Several concepts of contagion are distinguished. It is argued that only models that admit of multiple equilibria are capable of producing true contagion. A simple balance of payments model is presented to illustrate that phenomenon, and some back-of-the-envelope calculations assess its relevance to the coincidence of emerging market crises in 1994–95 and in 1997.
Notes:
Description based on print version record.
Contributor:
Masson, Paul R.
Other format:
Print Version:
ISBN:
1451856229:
9781451856224
ISSN:
1018-5941
Publisher Number:
10.5089/9781451856224.001
Access Restriction:
Restricted for use by site license.
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