{"id":"https://openalex.org/W2000552384","doi":"https://doi.org/10.2139/ssrn.164443","title":"Hedging and Financial Fragility in Fixed Exchange Rate Regimes","display_name":"Hedging and Financial Fragility in Fixed Exchange Rate Regimes","publication_year":1999,"publication_date":"1999-01-01","ids":{"openalex":"https://openalex.org/W2000552384","doi":"https://doi.org/10.2139/ssrn.164443","mag":"2000552384"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.164443","doi":"https://doi.org/10.2139/ssrn.164443","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.164443","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"volume":null,"type":"preprint","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.164443","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5056643686","display_name":"Craig Burnside","orcid":"https://orcid.org/0000-0001-9843-6053","observed_orcids":["https://orcid.org/0000-0001-9843-6053"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I170897317","display_name":"Duke University","ror":"https://ror.org/00py81415","country_code":"US","type":"education","lineage":["https://openalex.org/I170897317"]},{"id":"https://openalex.org/I7882870","display_name":"University of Glasgow","ror":"https://ror.org/00vtgdb53","country_code":"GB","type":"education","lineage":["https://openalex.org/I7882870"]}],"countries":["GB","US"],"is_corresponding":false,"raw_author_name":"Craig Burnside","raw_affiliation_strings":["Duke University - Department of Economics","National Bureau of Economic Research (NBER)","University of Glasgow - Department of Economics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Duke University - Department of Economics","institution_ids":["https://openalex.org/I170897317"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"University of Glasgow - Department of Economics","institution_ids":["https://openalex.org/I7882870"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5112033267","display_name":"Martin Eichenbaum","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I111979921","display_name":"Northwestern University","ror":"https://ror.org/000e0be47","country_code":"US","type":"education","lineage":["https://openalex.org/I111979921"]},{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Martin Eichenbaum","raw_affiliation_strings":["National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","Northwestern University, 2003 Sheridan Road, Evanston, IL 60208, United States","National Bureau of Economic Research (NBER)","Northwestern University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Northwestern University, 2003 Sheridan Road, Evanston, IL 60208, United States","institution_ids":["https://openalex.org/I111979921"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Northwestern University","institution_ids":["https://openalex.org/I111979921"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5102627651","display_name":"Sergio Tavares Rebelo","orcid":"https://orcid.org/0000-0001-7097-8184","observed_orcids":["https://orcid.org/0000-0001-7097-8184"]},"institutions":[{"id":"https://openalex.org/I111979921","display_name":"Northwestern University","ror":"https://ror.org/000e0be47","country_code":"US","type":"education","lineage":["https://openalex.org/I111979921"]},{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I4210140326","display_name":"Centre for Economic Policy Research","ror":"https://ror.org/04jzmdh37","country_code":"GB","type":"nonprofit","lineage":["https://openalex.org/I4210140326"]}],"countries":["GB","US"],"is_corresponding":true,"raw_author_name":"Sergio Tavares Rebelo","raw_affiliation_strings":["Centre for Economic Policy Research (CEPR)","National Bureau of Economic Research (NBER)","Northwestern University - Kellogg School of Management"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Centre for Economic Policy Research (CEPR)","institution_ids":["https://openalex.org/I4210140326"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Northwestern University - Kellogg School of Management","institution_ids":["https://openalex.org/I111979921"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":5,"corresponding_author_ids":["https://openalex.org/A5102627651"],"corresponding_institution_ids":["https://openalex.org/I111979921","https://openalex.org/I1321305853","https://openalex.org/I4210140326"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":26,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9189000129699707,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9189000129699707,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.0674000009894371,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.008299999870359898,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/currency-crises","display_name":"currency crises","score":0.9139999747276306},{"id":"https://openalex.org/keywords/banking-crisis","display_name":"banking crisis","score":0.972000002861023},{"id":"https://openalex.org/keywords/fixed-exchange-rates","display_name":"fixed exchange rates","score":0.703000009059906},{"id":"https://openalex.org/keywords/crawling-peg","display_name":"crawling peg","score":0.7889999747276306},{"id":"https://openalex.org/keywords/currency-hedging","display_name":"currency hedging","score":0.7889999747276306},{"id":"https://openalex.org/keywords/government-guarantees","display_name":"state guarantees","score":0.6930000185966492},{"id":"https://openalex.org/keywords/financial-fragility","display_name":"financial fragility","score":0.8659999966621399},{"id":"https://openalex.org/keywords/interest-rates","display_name":"interest rates","score":0.6959999799728394},{"id":"https://openalex.org/keywords/output-decline","display_name":"output decline","score":0.8830000162124634},{"id":"https://openalex.org/keywords/real-wages","display_name":"real wages","score":0.8109999895095825}],"concepts":[{"id":"https://openalex.org/C2781332510","wikidata":"https://www.wikidata.org/wiki/Q5449713","display_name":"Financial fragility","level":3,"score":0.701178789138794},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.6333803534507751},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6132347583770752},{"id":"https://openalex.org/C80191262","wikidata":"https://www.wikidata.org/wiki/Q5477668","display_name":"Fragility","level":2,"score":0.5680540800094604},{"id":"https://openalex.org/C2991744738","wikidata":"https://www.wikidata.org/wiki/Q66143","display_name":"Fixed exchange rates","level":3,"score":0.5235475897789001},{"id":"https://openalex.org/C120310109","wikidata":"https://www.wikidata.org/wiki/Q3239315","display_name":"Fixed income","level":3,"score":0.4824855625629425},{"id":"https://openalex.org/C2776071005","wikidata":"https://www.wikidata.org/wiki/Q11337203","display_name":"Exchange-rate regime","level":3,"score":0.4477059841156006},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.42077136039733887},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3960006535053253},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.32061854004859924},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.31187695264816284},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.21522024273872375},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.176398366689682},{"id":"https://openalex.org/C69738904","wikidata":"https://www.wikidata.org/wiki/Q11693","display_name":"Bond","level":2,"score":0.12349539995193481},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C147789679","wikidata":"https://www.wikidata.org/wiki/Q11372","display_name":"Physical chemistry","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2139/ssrn.164443","doi":"https://doi.org/10.2139/ssrn.164443","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.164443","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.164443","doi":"https://doi.org/10.2139/ssrn.164443","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.164443","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.6452000141143799}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":21,"referenced_works":["https://openalex.org/W1523210654","https://openalex.org/W1528445699","https://openalex.org/W1556100200","https://openalex.org/W1558945863","https://openalex.org/W1572461665","https://openalex.org/W1970522673","https://openalex.org/W2029023465","https://openalex.org/W2054807175","https://openalex.org/W2066726516","https://openalex.org/W2112559425","https://openalex.org/W2119791950","https://openalex.org/W2124597406","https://openalex.org/W2129074902","https://openalex.org/W2160313008","https://openalex.org/W2160894476","https://openalex.org/W2162279473","https://openalex.org/W2279645147","https://openalex.org/W2619845585","https://openalex.org/W3121729072","https://openalex.org/W3124442567","https://openalex.org/W3125135097"],"related_works":["https://openalex.org/W7100854357","https://openalex.org/W2486375469","https://openalex.org/W2008025809","https://openalex.org/W7097129365","https://openalex.org/W3125066846","https://openalex.org/W2487274178","https://openalex.org/W7100547249","https://openalex.org/W2053424549","https://openalex.org/W2185912580","https://openalex.org/W183810702"],"abstract_inverted_index":null,"counts_by_year":[{"year":2018,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}