Browse Results What Download Format Should I Choose?

Showing 1 through 2 of 2 results

Adjustment under a Currency Peg: Estonia, Latvia and Lithuania during the Global Finanacial Crisis 2008-09

by Catriona Purfield Christoph Rosenberg

The paper traces the Baltics' adjustment strategy during the 2008-09 global financial crisis. The abrupt end to the externally-financed domestic demand boom triggered a severe output collapse, bringing per capita income levels back to 2005/06 levels. In response to this shock, the Baltics undertook an internal devaluation that relied on unprecedented fiscal and nominal wage adjustment, steps to preserve financial sector stability as well as complementary efforts to facilitate voluntary private debt restructuring. One-and-half years on, the strategy is making good progress but not yet complete. Confidence in the exchange rate was maintained, the banking system was supported by its parent banks, external imbalances and inflation have largely disappeared, competitiveness is improving, and fiscal deficits are gradually being brought back towards pre-crisis levels. However, amid record levels of unemployment, further reforms are needed to foster a return to more balanced growth, fiscal sustainability, and a healthier banking system

A Balance Sheet Approach to Financial Crisis

by Mark Allen Christoph Rosenberg Christian Keller Brad Setser Nouriel Roubini

This publication examines the application of the balance sheet approach (BSA) in financial vulnerability analysis of emerging market economies, including its conceptual framework, trends over the past decade including case studies, and related policy issues. This concept is being increasingly used in the IMF's analysis of debt-related vulnerabilities, as evidenced by a growing number of Article IV consultation reports providing applications to individual countries, as well as a large body of academic literature on financial crises and their origins.

Showing 1 through 2 of 2 results

Help

Select your download format based upon: 1) how you want to read your book, and 2) compatibility with your reading tool. For more details, visit the Formats page under the Getting Started tab.

See and hear words read aloud
  • DAISY Text - See words on the screen and hear words being read aloud with the text-to-speech voice installed on your reading tool. Navigate by page, chapter, section, and more. Can also be used in audio-only mode. Compatible with many reading tools, including Bookshare’s free reading tools.
  • DAISY Text with Images - Similar to DAISY Text with the addition of images within the Text. Your reading tool must support images.
  • Read Now with Bookshare Web Reader - Read and see images directly from your Internet browser without downloading! Text-to-speech voicing and word highlighting are available on Google Chrome (extension installation required). Other browsers can be used with limited features. Learn more
Listen to books with audio only
  • DAISY Audio - Listen to books in audio-only mode with the high-quality Kendra voice by Ivona pre-installed. Navigate by page, chapter, section, and more. Must be used with a DAISY Audio compatible reading tool.
  • MP3 - Listen to books in audio-only mode with the high-quality Kendra voice by Ivona pre-installed. Navigate using tracks. Can be used with any MP3 player.
Read in Braille
  • BRF (Braille Ready Format) - Read with any BRF compatible refreshable braille display; navigate using the search or find feature.
  • DAISY Text - Read with any DAISY 3.0 compatible refreshable braille display, navigate by page, chapter, section, and more.
  • Embossed Braille - Use Bookshare’s DAISY Text or BRF formats to generate embossed braille.