Browsing FGV EPGE - Seminários de Pesquisa Econômica by Subject "Balanço de pagamentos"

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Balance of payment crises and capital flows : the role of liquidity

Goldfajn, Ilan
1996-01-23

A model of externaI CrISIS is deveIoped focusing on the interaction between Iiquidity creation by financiaI intermediaries and foreign exchange collapses. The intermediaries' role of transforming maturities is shown to ...
A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright

Cavalcanti, Ricardo de Oliveira
2002-05-23

Historically, payment systems and capital intermediation interact. Friedman (1959), and many observers of bank instabilities, have ad- vocated separating depositary from credit institutions. His proposal meets today an ...