2 edition of Excessive dollar debt found in the catalog.
by Massachusetts Institute of Technology, Dept. of Economics in Cambridge, MA
Written in English
We propose that the limited financial development of emerging markets is a significant factor behind the large share of dollar-denominated external debt present in these markets. We show that when financial constraints affect borrowing and lending between domestic agents, agents undervalue insuring against an exchange rate depreciation. Since more of this insurance is present when external debt is denominated in domestic currency rather than in dollars, this result implies that domestic agents choose excessive dollar debt. We also show that limited financial development reduces the incentives for foreign lenders to enter emerging markets. The retarded entry reinforces the underinsurance problems. Keywords: Currency mismatch, balance sheets, international liquidity, contingent credit lines, thin markets, limited participation. JEL Classification: F300, F310, F340 G150, G380.
|Statement||Ricardo J. Caballero [and] Arvind Krishnamurthy|
|Series||Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 02-15, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 02-15.|
|Contributions||Krishnamurthy, Arvind, Massachusetts Institute of Technology. Dept. of Economics|
|The Physical Object|
|Pagination||29 p. :|
|Number of Pages||29|
Jan 23, · Through its $1 trillion “one belt, one road” initiative, China is supporting infrastructure projects in strategically located developing countries, often by extending huge loans to their governments. As a result, some of these countries are becoming saddled with debt, leaving them even more firmly under China's thumb. Debt definition is - sin, trespass. How to use debt in a sentence. sin, trespass; something owed: obligation See the full definition. SINCE debt. debt book. debt burden. debted. See More Nearby Entries. Phrases Related to debt. bad debt. consumer debt. debt burden. Excessive debt can ruin a company but is not always.
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Subsequent write-offs were relatively small. Similar to Apple, Cisco’s beginning-allowance-to-write-offs ratio over the nine-year period indicates possibly excessive allowances. In addition, the ratio reveals an inconsistent relationship between the balance in the allowance for doubtful accounts and later write-offs. exchange rates, and primarily dollar reserves, could be called a “dollar-debt standard,” and is founded on a new credible promise: the United States’ commitment to maintaining a high rate of productivity growth which in the long run will reliably generate the cash flows necessary to service any reasonable level of debt issued by the Treasury.
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Sep 14, · Excessive Dollar Borrowing in Emerging Markets: Balance Sheet Effects and Macroeconomic Externalities Article in SSRN Electronic Journal · September with Reads How we measure 'reads'Author: Anton Korinek. Caballero and Krishnamurthy (), for instance, finds that the financial underdevelopment in emerging markets make agents undervalue insuring against forced, to use excessive dollar debt.
If so. Define excessive. excessive synonyms, excessive pronunciation, excessive translation, English dictionary definition of excessive. adj. Exceeding a normal, usual, reasonable, or proper limit.
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By investing in gold and other hard assets, Turk and Rubino explain how you can protect yourself from these dangers.4/4(96). Credit market frictions: Caballero and Krishnamurthy () present a real model where excessive dollar debt is the result of domestic financial constraints that lead firms to undervalue the social benefit of borrowing in local currency.
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Feb 12, · The US Debt and How It Got So Big Five Reasons Why America Is in Debt. Although the national debt grew the most, dollar-wise, under Obama, it wasn't the biggest percentage increase. That honor goes to Franklin D. Roosevelt. He only added about $ billion between andbut that was about a 1,% increase.
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The International Monetary Fund has also warned the nation that it is. (US Dollar History)According to a new report by the World Bank, the United States dollar will keep the dominate status as the world’s single reserve currency in the international monetary system.
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