Aug 2016
Author(s): Cavallo, Eduardo A.; Eichengreen, Barry; Panizza, Ugo
A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using foreign finance for extended periods. While many of these episodes are in low-…
Apr 2000
Author(s): Hausmann, Ricardo; Panizza, Ugo; Stein, Ernesto H.
Countries that are classified as having floating exchange rate systems (or very wide bands) show strikingly different patterns of behavior. They hold very different levels of international reserves…