WorldCat Identities

Marion, Nancy Peregrim

Works: 64 works in 376 publications in 1 language and 3,898 library holdings
Roles: Author, Honoree
Classifications: HB1, 330
Publication Timeline
Most widely held works by Nancy Peregrim Marion
Perspectives on the recent currency crisis literature by Robert P Flood( Book )

25 editions published in 1998 in English and held by 107 WorldCat member libraries worldwide

In the 1990s, currency crises in Europe, Mexico and Southeast Asia have drawn worldwide attention to speculative attacks on government-controlled exchange rates. To improve our understanding of these events, researchers have undertaken new theoretical and empirical work. In this paper, we provide some perspective on this work and relate it to earlier research in the area. Then we derive the optimal commitment to a fixed exchange rate and propose a common framework for analyzing currency crises that draws from both the early first-generation work and the more recent second-generation approach. The cross-generational framework stresses the important role of speculators and also recognizes that the government's commitment to a fixed exchange rate is constrained by other policy goals. In the final section we study the crisis prediction literature and find that some crises may be particularly difficult to predict using currently popular methods
Speculative attacks : fundamentals and self-fulfilling prophecies by Robert P Flood( Book )

15 editions published in 1996 in English and held by 73 WorldCat member libraries worldwide

Abstract: We develop a modified understand better the 1994 Mexican peso crisis as well as aspects of the European currency crises in 1992-93. We introduce the assumption that the speculative attack is sterilized by the domestic monetary authority, we incorporate a stochastic risk premium, and we allow for some price stickiness. The modified model shows that macroeconomic policies inconsistent in the longer run with a fixed exchange rate can push the economy inevitably towards a currency crisis, but it also demonstrates how a government currently following consistent macroeconomic policies can suddenly face a speculative attack triggered by a large shift in speculative opinion. However, the ability of a sudden shift in speculative opinion to trigger an attack is bounded by the position of fundamentals. Thus an attack does not require a later change in policies to make it profitable
The size and timing of devaluations in capital-controlled developing economies by Robert P Flood( Book )

11 editions published in 1994 in English and held by 66 WorldCat member libraries worldwide

Empirical evidence on European dual exchange rates and its relevance for Latin America by Nancy Peregrim Marion( Book )

11 editions published in 1991 in English and held by 39 WorldCat member libraries worldwide

This paper uncovers some important empirical regularities for the European dual exchange markets of the early 1970s, examines some of the stylized facts about the Latin American dual-rate regimes and assesses whether there are strong parallels between the two. It concludes that one should be cautious about applying the lessons from the European experience to the Latin American ones
Policy uncertainty, persistence and growth by Joshua Aizenman( Book )

12 editions published in 1991 in English and held by 38 WorldCat member libraries worldwide

This paper explores links between policy uncertainty and growth. It provides evidence on the correlation between policy uncertainty and per capita real GDP for 46 developing countries over the 1970-85 period. Cross-section regressions on growth suggest that after accounting for standard variables from the endogenous growth literature, policy uncertainty and growth are correlated. The importance of the correlation and even its sign depend on the particular policy and on the geographical region examined. One channel through which policy uncertainty may affect growth is the investment channel. Using an endogenous growth model where domestic investment is characterized by irreversibilities and policy fluctuates between a high and lowtax regime, we show that the gap between the two regimes and the persistence of a regime jointly determine the pattern of investment and growth. Policy uncertainty in the absence of persistence does not affect long run growth
Risk neutrality and the two-tier foreign exchange market : evidence from Belgium by Robert P Flood( Book )

10 editions published in 1989 in English and held by 33 WorldCat member libraries worldwide

Most of the literature on two-tier exchange markets is built around models in which domestic policy can exert a powerful influence on the spread between the current account exchange rate and the capital account exchange rate. We show that if optimizing agents are risk neutral, domestic policy has no significant influence on the spread. Our work with Belgian data suggests that a nsk neutral specification for Belgian residents acting in the two-tier market is hard to reject, and we also find evidence that domestic variables do not affect the Belgian spread
Policy implications of "second-generation" crisis models by Robert P Flood( Book )

13 editions published between 1996 and 1997 in English and held by 30 WorldCat member libraries worldwide

Successful attacks on currency parities in Europe and Mexico have led policymakers and academics to think more deeply about speculative attacks and the fragility of fixed exchange rate systems. The policy discussions involve the merits of setting up early warning systems to detect currency parities at risk and suitably institutionalizing parity arrangements. The academic work involves characterizing crisis episodes, extending existing speculative attack models to encompass recent events, and developing a "second-generation" of speculative attack models
Getting shut out of the international capital markets : it doesn't take much by Robert P Flood( Book )

9 editions published in 2006 in English and held by 14 WorldCat member libraries worldwide

We use a simple model of international lending to show that an emerging market borrower who might default can be shut out of international capital markets without warning. A modest haircut on obligations, for example, can shut down lending
Exchange-rate regimes in transition : Italy 1974 by Robert P Flood( Book )

7 editions published in 1981 in English and Undetermined and held by 14 WorldCat member libraries worldwide

International risk sharing during the globalization era by Akito Matsumoto( Book )

13 editions published between 2004 and 2009 in English and held by 13 WorldCat member libraries worldwide

Though theory suggests financial globalization should improve international risk sharing, empirical support has been limited. We develop a simple welfare-based measure that captures how far countries are from the ideal of perfect risk sharing. We then take it to data and find international risk sharing has, indeed, improved during globalization. Improved risk sharing comes mostly from the convergence in rates of consumption growth among countries rather than from synchronization of consumption at the business cycle frequency. Our finding explains why many existing measures fail to detect improved risk sharing-they focus only on risk sharing at the business cycle frequency
Outcomes-based conditionality : its role and optimal design by Anna Ivanova( )

5 editions published in 2006 in English and held by 1 WorldCat member library worldwide

The paper employs a principal-agent framework to analyze the role and design of outcomesbased conditionality in the presence of market frictions and domestic opposition. The results suggest that outcomes-based conditionality is a good option for the IMF when opposition to reforms is relatively weak and when the IMF loan is unsubsidized. The only role conditionality ends up playing in this case is that of an efficiency tool. The benefits of outcomes-based conditionality in the presence of strong opposition are less clear, and using this conditionality as an incentive tool would require that IMF financing be subsidized
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Alternative Names
Marion, N.

Marion, N. (Nancy)

Marion, N. P.

Marion, Nancy

Marion, Nancy P.

Peregrim Marion, Nancy

English (130)