May 2016
Author(s): Caballero, Julián; Panizza, Ugo; Powell, Andrew
Recent work suggests non-financial firms have acted like financial intermediaries particularly in emerging economies. This paper corroborates these findings but then asks "why?" The results…
Nov 2011
Author(s): Majnoni, Giovanni; Powell, Andrew
The recent global financial crisis has put the spotlight on macro-prudential policies to protect firms and households from problems emanating from the financial sector. This paper proposes an…
Apr 2008
Author(s): Izquierdo, Alejandro; Talvi, Ernesto; Catão, Luis; Cavallo, Eduardo A.; Powell, Andrew
Latin America is growing fast and fundamentals look healthier. Are these achievements here to stay? Strong commodity prices may not last forever and a US recession could have major repercussions in…