In most of the currency crises of the 1990s, the largest output falls have occurred in those emerging economies with large currency mismatches, a phenomenon tha

Provides deep analyses of some of the devastating financial crises of the last quarter-centures by showing how such factors as the origins and destinations of l

In this analysis Morris Goldstein examines currency regime choices for emerging economies that are heavily involved with private capital markets. The author arg

After building up foreign currency denominated (FC) liabilities over several years, Colombian firms might be vulnerable to a shift in external conditions. We un

This paper constructs a new measure of currency mismatch in the banking sector that controls for bank lending to unhedged borrowers. This measure explicitly tak