Balance Sheets and Exchange Rate Policy
By Luis Felipe Céspedes, Roberto Chang, Andrés Velasco. 2004
949 citations recorded by the source corpus.
Subfields: Development, Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/553b9b89744572ef72d5a46756cb201f069fbeaf
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Development
- Ivan Tchakarov
- Fabio Natalucci
- C. Tovar
- David E. Cook
- Selim Elekdag
- Diego Winkelried
- Enrique G. Mendoza
- Filiz Unsal
In Economics and Econometrics
- Filiz Unsal
- Enrique G. Mendoza
- Sebnem Kalemli‐ozcan
- M. Gertler
- David E. Cook
- Fabio Natalucci
- S. Schmukler
- Alejandro Justiniano
In Finance
- Enrique G. Mendoza
- Filiz Unsal
- David E. Cook
- M. Gertler
- Sebnem Kalemli‐ozcan
- S. Schmukler
- Fabio Natalucci
- Simon Gilchrist
Citations in the corpus
- Capital Flows and Financial Stability: Monetary Policy and Macroprudential Responses (2011, background): “This characterization is similar to that in Carlstrom and Fuerst (1997), Bernanke et al. (1999), Cespedes et al. (2004) and Gertler et al. (2007).”
- Why Should Emerging Economies Give Up National Currencies?: A Case for "Institutions Substitution" (2002, background): “1 As in the studies by Cole and Kehoe (1996), Calvo and Mendoza (2000a and 2000b), Mendoza (2002), and Chang and Velasco (2000).”
- Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies (2015, neutral): “The real exchange rate plays a similar role in the partial equilibrium model of global liquidity of Bruno and Shin (2014) and in general equilibrium models (e.g., Cespedes, Chang, and Velasco, 2004,?, Gabaix and Maggiori, 2014).”
- Reserve Requirements for Price and Financial Stability - When are They Effective? (2012, background): “8See related derivations in Cespedes et al. (2004) and Elkedag and Tchakarov (2007).”
- Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective (2015, neutral): “In this problem, any policy schedule such that t 2 ( 1; ̂Nt ] can achieve an allocation that satis es the rst order conditions (13)(15) of the unconstrained competitive equilibrium.”
- U.S. Monetary Policy and International Risk Spillovers (2019, background): “(34)See di Giovanni et al. (2018) who showed that domestic banks in Turkey pass through low funding costs in the international markets during episodes of abundant global liquidity to firms as low lending rates.”
- A corporate balance-sheet approach to currency crises (2001, neutral): “1 + π3 = (1 + z3) h2(y3, i2) h3(y4, i3) , (22)”
- Foreign currency debt, financial crises and economic growth: A long-run view (2010, background): “Céspedes et al. (2004) study an open economy IS-LM model with capital market frictions and find that the net impact of a surprise devaluation on income depends on the degree of capital market imperfections, the share of home goods in total consumption, the fraction of total debt denominated in…”
- The financial accelerator in an estimated New Keynesian model (2008, methodology): “Despite this interest among researchers, mainstream macroeconomic models used for monetary policy analysis, such as the models used by Christiano et al. (2005), contain no role for financial frictions.”