Borrowing Risk and the Tequila Effect

Borrowing Risk and the Tequila Effect
This paper models the Tequila effect (triggered by the collapse of the Mexican peso in December 1994) as a temporary increase in the risk premium faced by domestic private borrowers on world capital markets. The effects of this shock are studied in an intertemporal optimizing framework where firms' demand for working capital is financed by bank... READ MORE...

Publication date: July 1997
ISBN 9781451850840
$15.00

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