NBER Project on Currency Crises
Some of the questions we seek to answer are:
- How does a country's exchange rate regime affect the risk of a currency crisis and the
consequences if one occurs?
- What are the consequences of capital account convertibility?
- What policies and conditions influence which countries experience currency crises?
- How does financial regulation affect the vulnerability of an economy to various types of
- What is the effect of different policies with respect to foreign exchange reserves?
- How do corporate capital structures affect the vulnerability of countries to currency
- How would the availability of a "lender of last resort" affect the crisis?
- Have the macroeconomic programs required by the IMF been too contractionary?
- How have the IMF structural adjustment policies affected the resolution of the currency
- How can domestic financial institutions and corporate debt structures be rehabilitated
after a crisis?
- How can a country mitigate the adverse effects of a currency crisis on the low income
- Can industrial countries reduce the risk of exchange rate crises by modulating
fluctuations in their exchange rates?
- Can the lending policies of the financial institutions in industrial countries be modified to
reduce the risk to emerging market countries?
- Does financial weakness of lender institutions exacerbate the problems of debtor