Now showing items 1-4 of 4

    • Monetary arrangements for emerging economies 

      Santos, Rafael Chaves; Araújo, Aloísio Pessoa de; Leon, Márcia Saraiva
      2007-09-01
      In this paper we look at various alternatives for monetary regimes: dollarization, monetary union and local currency. We use an extension of the debt crisis model of Cole and Kehoe ([3], [4] and [5]), although we do not ...
    • Speculative attacks on debts and optimum currency area: a welfare analysis 

      Araújo, Aloísio Pessoa de; Leon, Márcia Saraiva
      2003-11-14
      Traditionally the issue of an optimum currency area is based on the theoretical underpinnings developed in the 1960s by McKinnon [13], Kenen [12] and mainly Mundell [14], who is concerned with the benefits of lowering ...
    • Speculative attacks on debts, dollarization and optimum currency areas 

      Araújo, Aloísio Pessoa de; Leon, Márcia Saraiva
      2002-04-01
      The purpose of this article is to contribute to the discussion of the financial aspects of dollarization and optimum currency areas. Based on the model of self-fulfilling debt crisis developed by Cole and Kehoe [4], it is ...
    • Speculative attacks, openness and crises 

      Santos, Rafael Chaves; Araújo, Aloísio Pessoa de; Leon, Márcia Saraiva
      2007-09-01
      In this paper we propose a dynamic stochastic general equilibrium model to evaluate financial adjustments that some emerging market economies went through to overcome external crises during the latest decades, such as ...