A corporate balance-sheet approach to currency crises

By Philippe Aghion, Philippe Bacchetta, Abhijit Banerjee. Journal of Economics Theory, 2001

340 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/542930f5a8a8795fc74b295a19cdabb20652804f

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Citations in the corpus

Inefficient Foreign Borrowing: A Dual- and Common-Agency Perspective (2003, background): “( 1 ) No strong case can be made on a priori grounds that countries over- or under-”
Sudden stops and the Mexican wave: Currency crises, capital flow reversals and output loss in emerging markets (2004, methodology): “…General Methods of Moments (GMM) procedure relies on utilizing more available moment conditions to obtain a more efficient estimation (e.g., Ahn and Schmidt, 1995; and Arellano and Bond, 1991 and 1998).5 This procedure, however, is usually employed in estimation of panels with a large…”
Uncertainty and Currency Crises: Evidence from Survey Data (2010, methodology): “…between U.S. interest rates and short-term external debt, which we also nd, is consistent with the role of internationally illiquid banks emphasized by Chang and Velasco (2001) as well as with that of foreign currency borrowing by domestic rms in the model of Aghion, Bacchetta, and Banerjee (2004).”
Regulating Capital Flows to Emerging Markets: An Externality View (2018, positive): “…declines, which captures the common notion in the literature that exchange rate depreciations in emerging economies may be contractionary (see e.g. Krugman, 1999; Aghion et al., 2004; Christiano et al., 2004) In the remainder of the paper, we will identify periods when financial constraints on…”
Dollarization of bank deposits: Causes and consequences (2005, methodology): “4 The exchange rate regime dummy variable used in Arteta (2002) and Honig (2003) can be seen as a risk measure in this context.”
Capital Market Liberalization and Development (2008, background): “We have also seen that balance sheets in developing countries are characterized by maturity mismatches (See Furman and Stiglitz 1998; Krugman 2000; Aghion et al. 2001; Eichengreen et al. 2003), so that public and private sector debts are more susceptible to short-term fluctuations in interest rates.”
Foreign effects of higher U.S. interest rates (2019, neutral): “7 See for instance Aghion et al. (2004) and Gertler et al. (2007).”
Exchange Rate Volatility and Productivity Growth: The Role of Financial Development (2009, neutral): “Then, the two baseline regressions (Regression [2], Table 1 and Regression [2], Table 2) are repeated with the omission of one continent at a time.”
Fear of appreciation (2007, background): “Interestingly, the same authors have also flagged, elsewhere, the deleterious effects of a devaluation on firms with foreign-currency liabilities (Calvo et al., 2006; Aghion et al., 2004).”