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Original sin redux: A model-based evaluation

delete2026-09-10
delete0
PRE
AI
B
Boris Hofmann
N
Nikhil Patel
S
Steve Pak Yeung Wu *
DOI：10.1016/j.euroecorev.2026.105468delete
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摘要

摘要

En 中文
本文使用两国模型表明，从外币外债转向本币外债并未消除新兴市场（EMs）对国外金融冲击的脆弱性，反而导致了“原罪重现”。国外的货币紧缩通过外国债权人财务约束的收紧传导至新兴市场金融状况，部分原因在于其资产负债表上的货币错配。外汇干预和资本流动管理措施可以在短期内减轻全球金融溢出效应对新兴市场的影响，而更大的国内投资者基础则可在长期内降低其脆弱性。
Keyword:
E3
E5
F3
F4
F6
G1
Emerging market
Capital flows
Exchange rate
Currency mismatch

期刊

European Economic Review 封面图
European Economic Review
IF:
2.4
论文数:
510
被引数:
1.0W

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B
Bank for International Settlements
学者数:
10
论文数: 7
被引数: 0
I
International Monetary Fund
学者数:
18
论文数: 13
被引数: 0
U
university of california
学者数:
8.0K
论文数: 2.6K
被引数: 0
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