Aaron Tornell's Books

A New Index of Currency Mismatch and Systemic Risk

By: Mr.Romain Ranciere,Aaron Tornell,Mr.Athanasios Vamvakidis

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A New Index of Currency Mismatch and Systemic Risk

By: Mr.Romain Ranciere,Aaron Tornell,Mr.Athanasios Vamvakidis

This paper constructs a new measure of currency mismatch in the banking sector that controls for bank lending to unhedged borrowers. This measure explicitly takes into account the indirect exchange rate risk that banks undertake when they lend to borrowers that will not be able to repay in the event of a sharp depreciation. Such systemic risk taking is not captured by indicators that are based only on banks’ balance sheet data. The new measure is constructed for 10 emerging European economies and for a broader sample that includes 19 additional emerging economies, for the period 1998 - 2008. Comparisons with previous currency mismatch measures that do not adjust for unhedged foreign currency borrowing illustrate the advantages of the new approach. In particular, the new measure flagged the indirect currency mismatch vulnerabilities that were building up in a number of emerging economies before the recent global crisis. Measuring currency mismatch more accurately can help country authorities in their efforts to address vulnerabilities at the right time, avoiding hurting growth prospects.

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International Monetary Fund

Published Date

ISBN 10

1455210706

ISBN 13

9781455210701

Outwitting History

The Amazing Adventures of a Man Who Rescued a Million Yiddish Books

By: Aaron Lansky

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Outwitting History

The Amazing Adventures of a Man Who Rescued a Million Yiddish Books

By: Aaron Lansky

“Incredible . . . Inspiring . . . Important.” —Library Journal, starred review “A marvelous yarn, loaded with near-calamitous adventures and characters as memorable as Singer creations.” —The New York Post “What began as a quixotic journey was also a picaresque romp, a detective story, a profound history lesson, and a poignant evocation of a bygone world.” —The Boston Globe “Every now and again a book with near-universal appeal comes along: Outwitting History is just such a book.” —The Sunday Oregonian As a twenty-three-year-old graduate student, Aaron Lansky set out to save the world’s abandoned Yiddish books before it was too late. Today, more than a million books later, he has accomplished what has been called “the greatest cultural rescue effort in Jewish history.” In Outwitting History, Lansky shares his adventures as well as the poignant and often laugh-out-loud stories he heard as he traveled the country collecting books. Introducing us to a dazzling array of writers, he shows us how an almost-lost culture is the bridge between the old world and the future—and how the written word can unite everyone who believes in the power of great literature. A Library Journal Best Book A Massachusetts Book Award Winner in Nonfiction An ALA Notable Book

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341

Publisher

Algonquin Books

Published Date

ISBN 10

156512636X

ISBN 13

9781565126367

A New Index of Currency Mismatch and Systemic Risk

By: Mr.Romain Ranciere,Aaron Tornell,Mr.Athanasios Vamvakidis

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A New Index of Currency Mismatch and Systemic Risk

By: Mr.Romain Ranciere,Aaron Tornell,Mr.Athanasios Vamvakidis

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N/A

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Solve jigsaw puzzle

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Publisher

International Monetary Fund

Published Date

ISBN 10

1455210706

ISBN 13

9781455210701

Book's by Aaron Tornell

A New Index of Currency Mismatch and Systemic Risk

A New Index of Currency Mismatch and Systemic Risk

Outwitting History

Outwitting History

A New Index of Currency Mismatch and Systemic Risk

A New Index of Currency Mismatch and Systemic Risk

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