A new index of currency mismatch and systemic risk
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The work A new index of currency mismatch and systemic risk represents a distinct intellectual or artistic creation found in University of San Diego Libraries. This resource is a combination of several types including: Work, Language Material, Books.
The Resource
A new index of currency mismatch and systemic risk
Resource Information
The work A new index of currency mismatch and systemic risk represents a distinct intellectual or artistic creation found in University of San Diego Libraries. This resource is a combination of several types including: Work, Language Material, Books.
- Label
- 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
- 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
- Series statement
- IMF Working Paper
- Series volume
- WP/10/263
Context
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- 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
- 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
- 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
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<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/resource/ZbfFpIuBLuI/" typeof="CreativeWork http://bibfra.me/vocab/lite/Work"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.sandiego.edu/resource/ZbfFpIuBLuI/">A new index of currency mismatch and systemic risk</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>
