Dealing with ‘insidious' crises a ‘difficult proposition' for policy-makers, argues IMF paper
Conventional balance-sheet crises more effectively detected and contained
Policy-makers and market participants have become more adept at reading the warning signals on "conventional" balance-sheet crises in emerging market economies (EMEs), but they are much less capable of detecting and avoiding "insidious" crises, according to an IMF working paper published this week.
Conventional and insidious macroeconomic balance-sheet crises, by Bas Bakker and Leslie Lipschitz, describes conventional crises as triggered by external imbalances prompted by capital inflows
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