Financial Crises, Dollarization, and Lending of Last Resort in Open Economies
收藏NBER2017-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w23984
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Foreign currency borrowing is perceived as a source of financial instability in emerging markets. We propose a theory where liability dollarization arises from an insurance motive of domestic savers. Because financial crises are associated with currency depreciations, savers are reluctant to hold
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美国国家经济研究局创建时间：
2017-11-01
