The Resource A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis
A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis
Resource Information
The item A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.This item is available to borrow from 1 library branch.
Resource Information
The item A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of San Diego Libraries.
This item is available to borrow from 1 library branch.
- Summary
- This paper constructs a new measure of currency mismatch in the banking sector that controls for bank lending to unhedged borrowers. This measure explicitly takes into account the indirect exchange rate risk that banks undertake when they lend to borrowers that will not be able to repay in the event of a sharp depreciation. Such systemic risk taking is not captured by indicators that are based only on banks' balance sheet data. The new measure is constructed for 10 emerging European economies and for a broader sample that includes 19 additional emerging economies, for the period 1998 - 2008. Comparisons with previous currency mismatch measures that do not adjust for unhedged foreign currency borrowing illustrate the advantages of the new approach. In particular, the new measure flagged the indirect currency mismatch vulnerabilities that were building up in a number of emerging economies before the recent global crisis. Measuring currency mismatch more accurately can help country authorities in their efforts to address vulnerabilities at the right time, avoiding hurting growth prospects
- Language
- eng
- Extent
- 1 online resource (25 pages)
- Contents
-
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. Bank Loans in Foreign Currency in Percent of Total Bank Loans, Emerging Europe, 2007; II. A New Measure of Currency Mismatch; III. Measuring Currency Mismatch in Emerging Europe; 2. Currency Mismatch in Emerging Europe, 1998-08; 3. Currency Mismatches in Emerging Europe, with and without Adjustment for Unhedged Lending, 2007; 1. Currency Mismatches in Emergency Europe in Percent of Bank Sector Assets: Adjusting for Unhedged Borrowing, 2004-07; 2. Currency Mismatch Measures in Emerging Europe, 2004-07
- IV. Measuring Currency Mismatch in Emerging Economies4. Currency Mismatch in Emerging Economies, 2008; 5. Increase in Currency Mismatch in Emerging Economies before the Crisis (2004-07); V. Concluding Remarks; Appendix. Calculation of Currency Mismatch and Data Sources; 1. Currency Mismatch Data; 2. Currency Mismatch Data (using only IFS data for foreign assets and liabilities); References; Footnotes
- Isbn
- 9781462343621
- Label
- A new index of currency mismatch and systemic risk
- Title
- A new index of currency mismatch and systemic risk
- Statement of responsibility
- prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis
- Language
- eng
- Summary
- This paper constructs a new measure of currency mismatch in the banking sector that controls for bank lending to unhedged borrowers. This measure explicitly takes into account the indirect exchange rate risk that banks undertake when they lend to borrowers that will not be able to repay in the event of a sharp depreciation. Such systemic risk taking is not captured by indicators that are based only on banks' balance sheet data. The new measure is constructed for 10 emerging European economies and for a broader sample that includes 19 additional emerging economies, for the period 1998 - 2008. Comparisons with previous currency mismatch measures that do not adjust for unhedged foreign currency borrowing illustrate the advantages of the new approach. In particular, the new measure flagged the indirect currency mismatch vulnerabilities that were building up in a number of emerging economies before the recent global crisis. Measuring currency mismatch more accurately can help country authorities in their efforts to address vulnerabilities at the right time, avoiding hurting growth prospects
- Cataloging source
- E7B
- http://bibfra.me/vocab/lite/collectionName
- IMF eLibrary
- http://library.link/vocab/creatorName
- Ranciere, Romain
- Illustrations
- illustrations
- Index
- no index present
- Language note
- English
- LC call number
- HB615
- LC item number
- .R36 2010 ONLINE
- Literary form
- non fiction
- Nature of contents
-
- dictionaries
- bibliography
- http://library.link/vocab/relatedWorkOrContributorName
-
- Tornell, Aaron
- Vamvakidis, Athanasios
- International Monetary Fund
- International Monetary Fund
- Series statement
- IMF Working Paper
- Series volume
- WP/10/263
- http://library.link/vocab/subjectName
-
- Financial crises
- Risk
- Financial crises
- Risk
- Developing countries
- Label
- A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis
- Bibliography note
- Includes bibliographical references
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Color
- multicolored
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Contents
-
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. Bank Loans in Foreign Currency in Percent of Total Bank Loans, Emerging Europe, 2007; II. A New Measure of Currency Mismatch; III. Measuring Currency Mismatch in Emerging Europe; 2. Currency Mismatch in Emerging Europe, 1998-08; 3. Currency Mismatches in Emerging Europe, with and without Adjustment for Unhedged Lending, 2007; 1. Currency Mismatches in Emergency Europe in Percent of Bank Sector Assets: Adjusting for Unhedged Borrowing, 2004-07; 2. Currency Mismatch Measures in Emerging Europe, 2004-07
- IV. Measuring Currency Mismatch in Emerging Economies4. Currency Mismatch in Emerging Economies, 2008; 5. Increase in Currency Mismatch in Emerging Economies before the Crisis (2004-07); V. Concluding Remarks; Appendix. Calculation of Currency Mismatch and Data Sources; 1. Currency Mismatch Data; 2. Currency Mismatch Data (using only IFS data for foreign assets and liabilities); References; Footnotes
- Control code
- 698591344
- Dimensions
- unknown
- Extent
- 1 online resource (25 pages)
- Form of item
- online
- Isbn
- 9781462343621
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other control number
- 10.5089/9781455210961.001
- Other physical details
- color illustrations
- Specific material designation
- remote
- System control number
-
- imfWPIEA2010263
- (IMF)WPIEA2010263
- (OCoLC)698591344
- Label
- A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis
- Bibliography note
- Includes bibliographical references
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Color
- multicolored
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Contents
-
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. Bank Loans in Foreign Currency in Percent of Total Bank Loans, Emerging Europe, 2007; II. A New Measure of Currency Mismatch; III. Measuring Currency Mismatch in Emerging Europe; 2. Currency Mismatch in Emerging Europe, 1998-08; 3. Currency Mismatches in Emerging Europe, with and without Adjustment for Unhedged Lending, 2007; 1. Currency Mismatches in Emergency Europe in Percent of Bank Sector Assets: Adjusting for Unhedged Borrowing, 2004-07; 2. Currency Mismatch Measures in Emerging Europe, 2004-07
- IV. Measuring Currency Mismatch in Emerging Economies4. Currency Mismatch in Emerging Economies, 2008; 5. Increase in Currency Mismatch in Emerging Economies before the Crisis (2004-07); V. Concluding Remarks; Appendix. Calculation of Currency Mismatch and Data Sources; 1. Currency Mismatch Data; 2. Currency Mismatch Data (using only IFS data for foreign assets and liabilities); References; Footnotes
- Control code
- 698591344
- Dimensions
- unknown
- Extent
- 1 online resource (25 pages)
- Form of item
- online
- Isbn
- 9781462343621
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other control number
- 10.5089/9781455210961.001
- Other physical details
- color illustrations
- Specific material designation
- remote
- System control number
-
- imfWPIEA2010263
- (IMF)WPIEA2010263
- (OCoLC)698591344
Library Links
Embed
Settings
Select options that apply then copy and paste the RDF/HTML data fragment to include in your application
Embed this data in a secure (HTTPS) page:
Layout options:
Include data citation:
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/portal/A-new-index-of-currency-mismatch-and-systemic/8d4LXbGUotg/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/portal/A-new-index-of-currency-mismatch-and-systemic/8d4LXbGUotg/">A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>
Note: Adjust the width and height settings defined in the RDF/HTML code fragment to best match your requirements
Preview
Cite Data - Experimental
Data Citation of the Item A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis
Copy and paste the following RDF/HTML data fragment to cite this resource
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.sandiego.edu/portal/A-new-index-of-currency-mismatch-and-systemic/8d4LXbGUotg/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/portal/A-new-index-of-currency-mismatch-and-systemic/8d4LXbGUotg/">A new index of currency mismatch and systemic risk, prepared by Romain Ranciere, Aaron Tornell and Athanasios Vamvakidis</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.sandiego.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.sandiego.edu/">University of San Diego Libraries</a></span></span></span></span></div>
