Listar Documentos de trabajo por autor "Powell, Andrew"

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    • A new test for the success of inflation targeting 

      Powell, Andrew; Cohen Sabbán, Verónica; González-Rozada, Martín (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      We propose a new test, derived from a set of variance decompositions of a structural VAR, for the success of inflation targeting. In contrast to standard sacrifice ratios this test considers changes in the structure of ...

    • Banking on foreigners: the behaviour of International Bank Lending to Latin America, 1985-2000 

      Powell, Andrew; Martínez Peria, María Soledad; Vladkova, Ivanna (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      Rising international bank financing to developing countries has motivated a debate on the behavior of these claims. We analyze claims from seven home (lender) countries on ten host (borrower) countries in Latin America. ...

    • Capital inflows and capital outflows: measurement, determinants, consequences 

      Powell, Andrew; Mohapatra, Sanket; Ratha, Dilip (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      This paper develops new estimates of capital outflows and is the first, to our knowledge, to analyze the determinants, consequences and inter-relationship between inflows and outflows. Given the dynamics and individual ...

    • Liquidity protection versus Moral Hazard: the role of the IMF 

      Powell, Andrew; Arozamena, Leandro (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2003)
      This paper develops a simple game between the IMF a county and a set of atomistic private investors. The model is motivated by the case of Argentina. Under reasonable assumptions, the one shot game has no Nash equilibrium ...

    • Macroeconomic coordination and monetary unions in a N-country world: Do all roads lead to Rome? 

      Powell, Andrew; Sturzenegger, Federico (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      In Europe, twelve countries have joined a currency union but four have stayed out. The EU enlargement process implies a large set of potential EMU entrants. In Latin America, two countries have recently dollarized and ...

    • Reforming capital requirements in emerging countries 

      Powell, Andrew; Balzarotti, Verónica; Castro, Christian (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      This paper then attempts to show how a PCR, in this case from Argentina, can help to set capital and provisioning rules. In order to so this, we employ an econometric credit scoring model on the PCR data - an ordered probit ...

    • The Argentina crisis: bad luck, bad management, bad politics, bad advice 

      Powell, Andrew (Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF), 2002)
      In my view the crisis was avoidable and one can even point to key events and decisions at particular moments of time. If some combination of these events had turned out different, it is likely that crisis would have been ...