Browsing Department of Economics (ECO) by Subject "sudden stops"

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Browsing Department of Economics (ECO) by Subject "sudden stops"

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    Title: Regime Switching Interest Rates and Fluctuations in Emerging Markets  Author(s): GRUSS, Bertrand; MERTENS, Karel Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We estimate regime switching models for emerging market interest rates and embed the obtained nonlinear dynamics in a small open economy model with a financial friction. We show that the presence of an infrequent regime ...
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    Title: The Role of Expectations in Sudden Stops  Author(s): MERTENS, Karel Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper presents a flexible-price small open economy model with a “peso problem” in productivity states. Agents rationally adjust their beliefs about future productivity growth after the arrival of news. A downward ...