Margin Calls, Trading Costs, and Asset Prices in Emerging Markets: The Finanical Mechanics of the 'Sudden Stop' Phenomenon
收藏NBER2002-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9286
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资源简介：
A central feature of emerging markets crises is the Sudden Stop' phenomenon characterized by large reversals of capital inflows and current accounts, deep recessions, and collapses in asset prices. This paper proposes an open-economy asset-pricing model with financial frictions that yields
提供机构：
美国国家经济研究局
创建时间：
2002-10-01
