External finance, sudden stops, and financial crisis : what is different this time? /

External finance, sudden stops, and financial crisis : what is different this time? /

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Bibliographic Details
Author / Creator:	Özkan, Gülçin, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2010.
Description:	1 online resource (34 pages) : illustrations
Language:	English
Series:	IMF working paper, 1018-5941 ; WP/10/158 IMF working paper ; WP/10/158.
Subject:	Business cycles -- Econometric models. Financial crises -- Econometric models. Business cycles -- Econometric models. Financial crises -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498627

Hidden Bibliographic Details
Other authors / contributors:	Unsal, D. Filiz, author. International Monetary Fund. Asia and Pacific Department, issuing body.
ISBN:	9781455236428 145523642X 9781455201419 1455201413 1282846302 9781282846302
Notes:	Includes bibliographical references. Print version record.
Summary:	This paper develops a two-country DSGE model to investigate the transmission of a global financial crisis to a small open economy. We find that economies hit by a sudden stop arising from financial distress in the global economy are likely to face a more prolonged crisis than sudden stop episodes of domestic origin. Moreover, in contrast to the existing literature, our results suggest that the greater a country's trade integration with the rest of the world, the greater the response of its macroeconomic aggregates to a sudden stop of capital flows.
Other form:	Print version: Fund, International Monetary. External Finance, Sudden Stops, and Financial Crisis: What is Different This Time? Washington : International Monetary Fund, ©2010 9781455201419
Standard no.:	10.5089/9781455201419.001

Description
Summary:	This paper develops a two-country DSGE model to investigate the transmission of a global financial crisis to a small open economy. We find that economies hit by a sudden stop arising from financial distress in the global economy are likely to face a more prolonged crisis than sudden stop episodes of domestic origin. Moreover, in contrast to the existing literature, our results suggest that the greater a country's trade integration with the rest of the world, the greater the response of its macroeconomic aggregates to a sudden stop of capital flows.
Physical Description:	1 online resource (34 pages) : illustrations
Bibliography:	Includes bibliographical references.
ISBN:	9781455236428 145523642X 9781455201419 1455201413 1282846302 9781282846302
ISSN:	1018-5941 ;