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877 results, from 841
  • Diskussionspapiere 304 / 2002

    An Investigation into the 1999 Collapse of the Brazilian Real

    This study argues that the political considerations were an important factor behind the crisis of the Brazilian real in January 1999. The divided coalition government and a president facing impending elections eschewed the correction of external misalignments and the fiscal austerity at a time when the markets were already excited by the 1997-98 East Asian and 1998 Russian financial crises. The hypothesis ...

    2002| Omar F. Saqib
  • Diskussionspapiere 303 / 2002

    Interpreting Currency Crises: A Review of Theory, Evidence, and Issues

    The main objective of this paper is to understand the causes and symptoms of currency crises by reviewing its seminal literature, establishing its determinants, and outlining some of the relevant issues. The paper highlights the need to comprehend the process, which may lead to the inconsistency of the policies and render the situation favourable for a speculative attack. This involves, broadening ...

    2002| Omar F. Saqib
  • Vierteljahrshefte zur Wirtschaftsforschung 4 / 2001

    Weak Economy and Strong Currency: The Origins of the Strong Yen in the 1990s

    During the 1990s the Japanese yen proved astonishingly strong despite the persisting recession. This paper tracks the origins of the high yen. It analyses the influence of interest rates, prices and foreign exchange policy on the yen-dollar exchange rate. It comes to the conclusion that real interest differentials can only explain short-term exchange rate changes. Since prices have been exerting their ...

    2001| Gunther Schnabl
  • Vierteljahrshefte zur Wirtschaftsforschung 4 / 2001

    Financial Market Regulation

    The aim of Japan’s comprehensive financial reform program “Financial Big Bang” was to create an internationally competitive financial sector based on three principles: free, fair and global by 2001. Policy makers encountered two challenges: strengthening competitiveness of the financial sector in the long term, and solving structural problems as soon as possible. Five years after implementation of ...

    2001| Andreas Nabor
  • Economic Bulletin 4 / 2001

    A Japanese Abyss? Editorial

    2001| Wolfram Schrettl
  • Externe Monographien

    Kazakstan 1993 - 2000: Independent Advisors and the IMF

    Heidelberg: Physica-Verlag, 2001, X, 278 S. | Lutz Hoffmann, Peter Bofinger, Heiner Flassbeck, Alfred Steinherr
  • Economic Bulletin 10 / 2001

    Against the Yen: A Rejected One-Way Bet? Editorial

    2001| Wolfram Schrettl
  • Economic Bulletin 9 / 2000

    Japan: End of Zero Interest Rate Policy - Beginning of Long-Term Upswing?

    2000| Mechthild Schrooten
  • Diskussionspapiere 211 / 2000

    Social Security Privatization and Financial Market Risk: Lessons from U.S. Financial History

    A popular proposal for reforming social security is to supplement or replace traditional publicly financed benefits with a new system of mandatory defined-contribution private pensions. Proponents claim that private plans offer better returns than traditional social security. To achieve higher returns, however, contributors are exposed to extra risks associated with financial market fluctuations. This ...

    2000| Gary Burtless
  • Diskussionspapiere 193 / 2000

    Banking Crises in Transition Countries - Theory and Empirical Evidence: The Case of Russia

    Das Papier gibt zunächst einen Überblick über die Ursachen und ökonomischen Kosten der Bankenkrise in Rußland, die im Jahr 1998 ausbrach. Eine Analyse des Verhaltens russischer Banken im Zeitraum 1998 bis 1999 zeigt, daß diese sich relativ konservativ bezüglich ihrer Kreditvergabe verhielten. Dies kann ein überraschendes Ergebnis sein aus folgenden Gründen: Die Bankenaufsicht hatte bisher eine relativ ...

    2000| Ulrich Thießen
877 results, from 841