Zobrazeno 1 - 10
of 10
pro vyhledávání: '"Sandri, Damian"'
Autor:
Dell'Ariccia, Giovanni, Martinez Peria, Maria Soledad, Igan, Deniz O, Awadzi, Elsie Addo, Dobler, Marc, Sandri, Damian
This SDN revisits the debate on bank resolution regimes, first by presenting a simple model of bank insolvency that transparently describes the trade-off involved between bail-outs, bail-ins, and larger capital buffers. The note then looks for empiri
Autor:
Cavallino, Paolo, Sandri, Damian
We provide a theory of the limits to monetary policy independence in open economies arising from the interaction between capital flows and domestic collateral constraints. The key feature of our theory is the existence of an “Expansionary Lower Bou
Autor:
Biljanovska, Nina, Sandri, Damian
Over the last few decades, Brazil has experienced relatively weak economic growth due to stagnant productivity. To boost productivity, Brazil should embark on an ambitious structural reform process. In doing so, it is crucial that authorities select
Autor:
Jeanne, Olivier, Sandri, Damian
Financially closed economies insure themselves against current-account shocks using international reserves. We characterize the optimal management of reserves using an open-economy model of precautionary savings and emphasize several results. First,
Autor:
Korinek, Anton, Sandri, Damian
International capital flows can create significant financial instability in emerging economies because of pecuniary externalities associated with exchange rate movements. Does this make it optimal to impose capital controls or should policymakers rel
Autor:
Sandri, Damian
The paper presents a tractable model to understand how international financial institutions (IFIs) should deal with the sovereign debt crisis of a systemic country, in which case private creditors'bail-ins entail international spillovers. Besides len
Autor:
Fletcher, Kevin, Sandri, Damian
We develop a simple model to examine the conditions under which delaying fiscal consolidation can affect the present value of GDP via the fiscal stance's effects on the output gap and hysteresis. We find that the absolute size of the fiscal multiplie
Autor:
Sandri, Damian
In this paper we assess the implications of precautionary savings for global imbalances by considering a world economy model composed by the US, the Euro Area, Japan, China, oil-exporting countries, and the rest of the world. These areas are assumed
A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to emerging Asia tradable goods and a change in international relative prices. This paper quantifies the required adjustment in the terms of
Autor:
Mody, Ashoka, Sandri, Damian
We use the rise and dispersion of sovereign spreads to tell the story of the emergence and escalation of financial tensions within the eurozone. This process evolved through three stages. Following the onset of the Subprime crisis in July 2007, sprea