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Speculative Attacks And Models Of Balance Of Payments Crises

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Speculative Attacks And Models Of Balance Of Payments Crises

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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.

Preventing Currency Crises In Emerging Markets

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Author : Sebastian Edwards
language : en
Publisher: University of Chicago Press
Release Date : 2009-02-15

Preventing Currency Crises In Emerging Markets written by Sebastian Edwards and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-15 with Business & Economics categories.

Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.

Anticipating Balance Of Payments Crises The Role Of Early Warning Systems

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Author : Mr.Eduardo Borensztein
language : en
Publisher: International Monetary Fund
Release Date : 2000-01-24

Anticipating Balance Of Payments Crises The Role Of Early Warning Systems written by Mr.Eduardo Borensztein 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 2000-01-24 with Business & Economics categories.

Recent years have witnessed an increase in the frequency of currency and balance of payments crises in developing countries. More important, the crises have become more virulent, have caused widespread disruption to other developing countries, and have even had repercussions on advanced economies. To predict crises, their causes must be clearly understood. Two competing strands of theories are reviewed in this paper. The first focuses on the consequences of such policies as excessive credit growth in provoking depletion of foreign exchange reserves and making a devaluation enevitable. The second emphasizes the trade-offs between internal and external balance that the policymaker faces in defending a peg.

Speculative Attacks And Models Of Balance Of Payments Crises

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Author : Pierre-Richard Agenor
language : en
Publisher:
Release Date : 2006

Speculative Attacks And Models Of Balance Of Payments Crises written by Pierre-Richard Agenor 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.

International Finance And Financial Crises

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Author : Mr.Peter Isard
language : en
Publisher: International Monetary Fund
Release Date : 2000-01-24

International Finance And Financial Crises written by Mr.Peter Isard 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 2000-01-24 with Business & Economics categories.

This book contains the proceedings of a conference held in honor of Robert P. Flood Jr. Contributors to the conference were invited to address many of the topics that Robert Flood has explored including regime switching, speculative attacks, bubbles, stock market voloatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. The results, contained in this volume, include five papers on topics in international finance.

Balance Of Payments Crises And The Structure Of Adjustment Policies

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Author : Michael Frenkel
language : en
Publisher:
Release Date : 1989

Balance Of Payments Crises And The Structure Of Adjustment Policies written by Michael Frenkel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Balance of payments categories.

The Macroeconomic Theory Of Exchange Rate Crises

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Author : Giovanni Piersanti
language : en
Publisher: Oxford University Press
Release Date : 2012-04-26

The Macroeconomic Theory Of Exchange Rate Crises written by Giovanni Piersanti and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-26 with Business & Economics categories.

This book deals with the genesis and dynamics of exchange rate crises in fixed or managed exchange rate systems. It provides a comprehensive treatment of the existing theories of exchange rate crises and of financial market runs. It aims to provide a survey of both the theoretical literature on international financial crises and a systematic treatment of the analytical models. It analyzes a series of macroeconomic models and demonstrates their properties and conclusions, including comparative statics and dynamic behaviour. The models cover the range of phenomena exhibited in modern crises experienced in countries with fixed or managed exchange rate systems. Among the topics covered, beyond currency sustainability, are bank runs, the interaction between bank solvency and currency stability, capital flows and borrowing constraints, uncertainty about government policies, asymmetric information and herding behaviour, contagion across markets and countries, financial markets and asset price bubbles, strategic interaction among agents and equilibrium selection, the dynamics of speculative attacks and of financial crashes in international capital markets. The book is intended for econometricians, academics, policymakers and specialists in the field, and postgraduate students in economics.

A Model Of Contagious Currency Crises With Application To Argentina

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Author : Ms.Nada Choueiri
language : en
Publisher: International Monetary Fund
Release Date : 1999-03-01

A Model Of Contagious Currency Crises With Application To Argentina written by Ms.Nada Choueiri 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 1999-03-01 with Business & Economics categories.

This paper proposes a model of contagious currency crises: crises transmit across countries by raising the risk premium on government bonds. Three types of equilibria can occur: a “no-collapse” equilibrium (crises never transmit from abroad); a “collapse” equilibrium (crises are inevitably contagious); or a “fundamentals” equilibrium (crises are contagious if domestic fundamentals are weak). A calibration exercise finds that the 1995 turmoil in Argentina coexisted with a combination of risk-averse investors and weak credibility in the currency board arrangement. This turmoil could only be attributed to a Tequila effect from the Mexican crisis alone if investors were excessively risk-averse.

Leading Indicators Of Currency Crises

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Author : Müge Ant
language : en
Publisher: World Bank Publications
Release Date : 2002

Leading Indicators Of Currency Crises written by Müge Ant and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.

Speculative Attacks And Models Of Balance Of Payments Crises

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Author : Pierre-Richard Agénor
language : es
Publisher:
Release Date : 1991

Speculative Attacks And Models Of Balance Of Payments Crises written by Pierre-Richard Agénor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.

Speculative Attacks And Models Of Balance Of Payments Crises

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