Testing for Balance Sheet Effects in Emerging Market Countries

This paper tests the presence of balance sheets effects and analyzes the implications for exchange rate policies in emerging markets. The results reveal that the emerging market bond index (EMBI) is negatively related to the banks' foreign currency leverage, and that these banks' foreign currency exposures are relatively unhedged. Panel SVAR methods using EMBI instead of advanced country lending rates find, contrary to the literature, that the amplitude of output responses to foreign interest rate shocks are smaller under relatively fixed regimes. The findings are robust to the local projections method of obtaining impulse responses, using country specific and GARCH-SVAR models.

Building a Globally Distributed Historical Sheet Map Set

This paper describes the procedures used to create a distributed collection of topographic maps of the Austro-Hungarian Empire, the Spezialkarte der Öesterriechisch-ungarnischen Monarchie, Masse. 1:75,000 der natur. This set of maps was published in Vienna over a period of years from 1877 to 1914. The part of the set used in this project includes 776 sheets; all sheets from all editions number over 3,665. The paper contains detailed information on how the maps were converted to digital images, how metadata were prepared, and how Web-browser access was created using ArcIMS Metadata Server. The project, funded by a 2004 National Leadership Grant from the Institute for Museums and Library Science (IMLS), was a joint project of the Homer Babbidge Library Map and Geographic Information Center at the University of Connecticut, the New York Public Library, and the American Geographical Society’s Map Library at the University of Wisconsin Milwaukee.