NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Managing Currency Crises in Emerging Markets



Managing Currency Crises in Emerging Markets
Michael P. Dooley and Jeffrey A. Frankel, editors

The University of Chicago Press, 2003
Cloth: $68.00
408 pages
ISBN: 0-226-15540-4 (cloth)

Table of Contents:

    Introduction
    Michael P. Dooley and Jeffrey A. Frankel

    I. The Defense

    1. Interest Rates and Exchange Rates in the Korean, Philippine, and Thai Exchange Rate Crises
    Dongchul Cho and Kenneth D. West

      Comment: Robert Dekle

    Discussion Summary

    2. Interest Rate Defense against Speculative Attack as a Signal: A Primer
    Allan Drazen

      Comment: Robert P. Flood

    Discussion Summary

    3. Does It Pay to Defend against a Speculative Attack?
    Barry Eichengreen and Andrew K. Rose

      Comment: Richard Portes

    Discussion Summary

    II. The Program

    4. The International Lender of Last Resort: How Large Is Large Enough?
    Olivier Jeanne and Charles Wyplosz

      Comment: Olivier Blanchard

    Discussion Summary

    5. Rescue Packages and Output Losses Following Crises
    Michael P. Dooley and Sujata Verma

      Comment: Andrew Powell

    Discussion Summary

    6. Financial Restructuring in Banking and Corporate-Sector Crises: What Policies to Pursue?
    Stijn Claessens, Daniela Klingebiel and Luc Laeven

      Comment: Peter B. Kenen

    Discussion Summary

    7. On the Fiscal Implications of Twin Crises
    A. Craig Burnside, Martin Eichenbaum and Sergio Rebelo

      Comment: Kenneth Kletzer

    Discussion Summary

    8. An Evaluation of Proposals to Reform the International Financial Architecture
    Morris Goldstein

      Comment: Andrew Berg

    Discussion Summary

    III. The Impact

    9. Recovery and Sustainability in East Asia
    Yung Chul Park and Jong-Wha Lee

      Comment: Richard Portes

    Discussion Summary

    10. A Curse Worse Than the Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs
    Michael M. Hutchison

      Comment: Gian Maria Milesi-Ferretti

    Discussion Summary

    11. IMF and World Bank Structural Adjustment Programs and Poverty
    William Easterly

      Comment: Edwin M. Truman

    Discussion Summary

    12. Impacts of the Indonesian Economic Crisis: Price Changes and the Poor
    James Levinsohn, Steven Berry and Jed Friedman

      Comment: Lant Pritchett

    Discussion Summary


 
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