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Coase Theorem
The Coase theorem says that if property rights are clear and bargaining is costless, parties will bargain to an efficient outcome regardless of who holds the initial right — the assignment affects distribution, not efficiency.
Externality
An externality is a cost or benefit imposed on a third party that is not priced in the original transaction — fire sales, contagion, and pollution are the same object in different clothes.
Current Account Balance
Current Account Balance — External imbalance measure linking domestic savings-investment gaps to currency pressure.
EMBI Sovereign Spread
EMBI sovereign spread measures the yield premium on emerging-market sovereign debt over U.S. Treasuries and serves as a key gauge of EM credit risk and external financing stress.
Original Sin EM Debt
Original Sin EM Debt — Inability to borrow long-term in local currency, raising external vulnerability.
Dollar Index vs EM FX Basket
Comparing DXY with an EM FX basket helps assess whether dollar strength is becoming a broader external-financing stress event for emerging markets.
Twin Deficits
Twin Deficits — Combined fiscal and current-account deficits pressuring currency and term premium.
Current Account Balance
Current Account Balance — External imbalance measure linking domestic savings-investment gaps to currency pressure.
Dollar Index vs EM FX Basket
Comparing DXY with an EM FX basket helps assess whether dollar strength is becoming a broader external-financing stress event for emerging markets.
EMBI Sovereign Spread
EMBI sovereign spread measures the yield premium on emerging-market sovereign debt over U.S. Treasuries and serves as a key gauge of EM credit risk and external financing stress.
Externality
An externality is a cost or benefit imposed on a third party that is not priced in the original transaction — fire sales, contagion, and pollution are the same object in different clothes.
Original Sin EM Debt
Original Sin EM Debt — Inability to borrow long-term in local currency, raising external vulnerability.
RAG
A system pattern combining retrieval with generation to ground output in external memory or documents.