- Title Pages
- Title Pages
- Acknowledgments
- Preface
-
Chapter 1 An Introduction to Roberto Frenkel’s Contributions to the Economic Ideas in Latin America -
Chapter 2 Markups Under Uncertainty -
Chapter 3 Financial Fragility, Price Indexes, and Investment Financing -
Chapter 4 Uncertainty in Structural and Institutional Parameters and the Cost of Policy Mistakes -
Chapter 5 Monetary Policy and External Shocks in a Semidollarized Economy -
Chapter 6 The Chilean Economy Since the Global Crisis -
Chapter 7 Disequilibria and Risk Premia -
Chapter 8 Labor Market and Income Distribution in Latin America in Times of Economic Growth -
Chapter 9 Accounting for the Rise and Fall of Brazil’s Growth After World War II -
Chapter 10 Balance-of-Payments Dominance -
Chapter 11 The Real Exchange Rate, the Real Wage, and Growth -
Chapter 12 The Real Exchange Rate and Economic Growth -
Chapter 13 Capitalism and Financial Crises -
Chapter 14 Financial Crises, Institutions, and the Macroeconomy -
Chapter 15 United States Size Distribution and the Macroeconomy 1986–2009 -
Chapter 16 Sovereign Credit Risk in Latin America and Global Common Factors -
Chapter 17 Cognitive Dissonance -
Chapter 18 New Developmentalism as a Weberian Ideal Type - Contributors
- Index
Disequilibria and Risk Premia
Disequilibria and Risk Premia
Argentina’s Experience During the 2000s from a Latin American Perspective
- Chapter:
- (p.134) Chapter 7 Disequilibria and Risk Premia
- Source:
- Macroeconomics and Development
- Author(s):
Gustavo Cañonero
Carlos Winograd
- Publisher:
- Columbia University Press
the chapter elaborates on the sources of risk that arise from the interaction of the goods and financial markets by revisiting Frenkel’s work on exchange rate and sovereign risk premia. The authors dispute the narrow view that states that a run on the domestic currency or a rising sovereign risk premium are always caused by an increase of the foreign debt or a decline in international reserves. Market disequilibrium dynamics may not only be driven by these factors but also by declining incentives to invest.
Keywords: sovereign risk premia, external debt, run on domestic currency, investment incentives, market disequilibrium
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- Title Pages
- Title Pages
- Acknowledgments
- Preface
-
Chapter 1 An Introduction to Roberto Frenkel’s Contributions to the Economic Ideas in Latin America -
Chapter 2 Markups Under Uncertainty -
Chapter 3 Financial Fragility, Price Indexes, and Investment Financing -
Chapter 4 Uncertainty in Structural and Institutional Parameters and the Cost of Policy Mistakes -
Chapter 5 Monetary Policy and External Shocks in a Semidollarized Economy -
Chapter 6 The Chilean Economy Since the Global Crisis -
Chapter 7 Disequilibria and Risk Premia -
Chapter 8 Labor Market and Income Distribution in Latin America in Times of Economic Growth -
Chapter 9 Accounting for the Rise and Fall of Brazil’s Growth After World War II -
Chapter 10 Balance-of-Payments Dominance -
Chapter 11 The Real Exchange Rate, the Real Wage, and Growth -
Chapter 12 The Real Exchange Rate and Economic Growth -
Chapter 13 Capitalism and Financial Crises -
Chapter 14 Financial Crises, Institutions, and the Macroeconomy -
Chapter 15 United States Size Distribution and the Macroeconomy 1986–2009 -
Chapter 16 Sovereign Credit Risk in Latin America and Global Common Factors -
Chapter 17 Cognitive Dissonance -
Chapter 18 New Developmentalism as a Weberian Ideal Type - Contributors
- Index
