Sudden Stops, the Real Exchange Rate and Fiscal Sustainability: Argentina's Lessons

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Currency crises: Are they all the same?☆ (2006, background): “More recently, the literature on capital inflows and capital inflow problems has suggested another potential source of instability (see, for example, Calvo, 1998; Calvo and Reinhart, 2000; Calvo et al., 2003), that of liquidity crises due to sudden reversals in capital flows.”
The long-run volatility puzzle of the real exchange rate (2006, background): “In particular, Calvo et al. (2003) show that the real depreciation brought about by a sudden stop in capital flows is”
Varieties of Currency Crises (2003, neutral): “In contrast, the proposed new methodology allows the data to determine the number and characteristics of classes of crises.(5) Also, the thresholds that turn a fluctuation of a variable into a signal of an upcoming crisis will be identified jointly for all indicators to allow for interdependence.”