Speculative Attacks And Currency Crises
DOWNLOAD
Download Speculative Attacks And Currency Crises PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Speculative Attacks And Currency Crises book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Speculative Attacks And Currency Crises
DOWNLOAD
Author : Ms.Inci Ötker
language : en
Publisher: International Monetary Fund
Release Date : 1995-11-01
Speculative Attacks And Currency Crises written by Ms.Inci Ötker and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-11-01 with Business & Economics categories.
This paper estimates a speculative attack model of currency crises in order to identify the role of economic fundamentals and any early warning signals of a potential currency crisis. The data from the Mexican economy was used to illustrate the model. Based on the results, a deterioration in fundamentals appears to have generated high one-step-ahead probabilities for the regime changes during the sample period 1982-1994. Particularly, increases in inflation differentials, appreciations of the real exchange rate, foreign reserve losses, expansionary monetary and fiscal policies, and increases in the share of short-term foreign currency debt appear to have contributed to the market pressures and regime changes in that period.
Speculative Attacks And Currency Crises
DOWNLOAD
Author : 0nci Ltker
language : en
Publisher:
Release Date : 2006
Speculative Attacks And Currency Crises written by 0nci Ltker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper estimates a speculative attack model of currency crises in order to identify the role of economic fundamentals and any early warning signals of a potential currency crisis. The data from the Mexican economy was used to illustrate the model. Based on the results, a deterioration in fundamentals appears to have generated high one-step-ahead probabilities for the regime changes during the sample period 1982-1994. Particularly, increases in inflation differentials, appreciations of the real exchange rate, foreign reserve losses, expansionary monetary and fiscal policies, and increases in the share of short-term foreign currency debt appear to have contributed to the market pressures and regime changes in that period.
Perspectiveson The Recent Currency Crisis Literature
DOWNLOAD
Author : Mr.Robert P. Flood
language : en
Publisher: International Monetary Fund
Release Date : 1998-09-01
Perspectiveson The Recent Currency Crisis Literature written by Mr.Robert P. Flood and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-09-01 with Business & Economics categories.
In the 1990s, currency crises in Europe, Mexico, and Asia have drawn worldwide attention to speculative attacks on government-controlled exchange rates and have prompted researchers to undertake new theoretical and empirical analysis of these events. This paper provides some perspective on this work and relates it to earlier research. It derives the optimal commitment to a fixed exchange rate and proposes a common framework for analyzing currency crises. This framework stresses the important role of speculators and recognizes that the government’s commitment to a fixed exchange rate is constrained by other policy goals. The final section finds that some crises may be particularly difficult to predict using currently popular methods.
Policy Making And Speculative Attacks In Models Of Exchange Rate Crises
DOWNLOAD
Author : Giancarlo Corsetti
language : en
Publisher:
Release Date : 1996
Policy Making And Speculative Attacks In Models Of Exchange Rate Crises written by Giancarlo Corsetti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Equilibrium (Economics) categories.
Self Fulfilling Risk Predictions
DOWNLOAD
Author : Mr.Robert P. Flood
language : en
Publisher: International Monetary Fund
Release Date : 1998-08-01
Self Fulfilling Risk Predictions written by Mr.Robert P. Flood and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-08-01 with Business & Economics categories.
The paper shows that changing market beliefs about currency risk can generate a self-fulfilling speculative attack on a fixed exchange rate. The attack does not require a later change in policies to make it profitable. This is illustrated by introducing an endogenous risk premium into a “first-generation model” of a speculative attack. The model is further modified to take account of sterilization, debt-financed fiscal deficits, and anticipatory price-setting behavior. The model is used to interpret the 1994 Mexican peso crisis.
Speculative Attacks And Models Of Balance Of Payments Crises
DOWNLOAD
Author : Mr.Robert P. Flood
language : en
Publisher: International Monetary Fund
Release Date : 1991-10-01
Speculative Attacks And Models Of Balance Of Payments Crises written by Mr.Robert P. Flood and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-10-01 with Business & Economics categories.
This paper reviews recent developments in the theoretical and empirical analysis of balance-of-payments crises. A simple analytical model highlighting the process leading to such crises is first developed. The basic framework is then extended to deal with a variety of issues, such as: alternative post-collapse regimes, uncertainty, real sector effects, external borrowing and capital controls, imperfect asset substitutability, sticky prices, and endogenous policy switches. Empirical evidence on the collapse of exchange rate regimes is also examined, and the major implications of the analysis for macroeconomic policy discussed.
Currency Speculation In Fixed Exchange Rate Regimes
DOWNLOAD
Author : Anja Zenker
language : en
Publisher: Springer Science & Business Media
Release Date : 2014-01-08
Currency Speculation In Fixed Exchange Rate Regimes written by Anja Zenker and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-08 with Business & Economics categories.
Speculative currency crises seem to have become a common and inevitable phenomenon in the international monetary system. Against this background, various approaches have been developed by economists to cover the broad range of situations in which balance-of-payments crises occurred. Anja Zenker provides a comprehensive insight into the body of theoretical and empirical literature about currency speculation in fixed exchange rate regimes. The author discusses different generations of theoretical models and their empirical relevance in recent currency crises. Moreover, she considers diverse policy options which attempt to avoid speculative attacks on exchange rate pegs.
Information Dissemination In Currency Crises
DOWNLOAD
Author : Christina Evelies Metz
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Information Dissemination In Currency Crises written by Christina Evelies Metz and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
As the complexity of financial markets keeps growing, so does the need to understand the decision-making and the coordination of the exsuing actions in the marketplace. In particular, the disclosure of information to market participants and its impact on the market outcome mertis attention. This study analyses the role of private and public information in currency crises. Calls for increased dissemination of economic and policy-related information by central banks notwithstanding, the study shows that transparency is not generally conductive to preventing speculative attacks in fixed exchange-rate regimes. Rather, the role of private and public information in the market-place depencs critically on the prevailing market sentiment. The study also highlights the import of market transparency design in an environment that allows for herding and market leadership of individual speculators.
The Choice Of Exchange Rate Regime And Speculative Attacks
DOWNLOAD
Author : Alex Cukierman
language : en
Publisher:
Release Date : 2003
The Choice Of Exchange Rate Regime And Speculative Attacks written by Alex Cukierman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Foreign exchange administration categories.
Speculative Bubbles Speculative Attacks And Policy Switching
DOWNLOAD
Author : Robert P. Flood
language : en
Publisher: MIT Press
Release Date : 1994
Speculative Bubbles Speculative Attacks And Policy Switching written by Robert P. Flood and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
The papers in this book are grouped into three sections: the first on price bubbles is primarily financial; the second on speculative attacks (on exchange rate regimes) is international in scope; and the third, on policy switching, is concerned with monetary policy.