Currency crisis models
Currency crisis models - Kellogg School of Management
There have been many currency crises during the post-war era (see Kaminsky and. Reinhart, 1999). A currency crisis is an episode in which the exchange rate ...
A currency crisis is a type of financial crisis, and is often associated with a real economic crisis. A currency crisis raises the probability of a banking ...
Policy Implications of "Second-Generation" Crisis Models - WP/97/16
After the speculative attacks on government-controlled exchange rates in Europe and in. Mexico, economists began to develop models of currency crises with ...
Models of Currency. Crisis. Why do fixed exchange rate regimes collapse? Page 2. First generation models. They identify in government budget deficits the.
The canonical currency crisis model, then, explains such crises as the result of a fundamental inconsistency between domestic policies - typically the ...
models of currency crises with self-fulfilling features
After describing an illustrative model in which high unemployment may cause an exchange-rate crisis with self-fulfilling features, the paper reviews some other ...
General problem: why is there a“sudden”, dramatic change in the currency exchange rate? Page 4. Typology of currency crisis models. First-generation models.
Lessons from history from three generations of currency crises - CEPR
The 1980s crisis in Latin America, 1990s crisis in Mexico, and late 1990s crisis in Asia were all characterised by significant capital inflows ...
The Logic of Currency Crises - University of California, Berkeley
in more general models of currency crisis. Section 2 presents two different models in which crisis and realignment result from the interaction.
Models of currency crises with self-fulfilling features - ScienceDirect
Abstract. The discomfort a government suffers from speculation against its currency determines the strategic incentives of speculators and the scope for ...
Chapter 33 - Models of Currency Crises
A currency crisis may be defined as a speculative attack on the foreign exchange value of a currency that either results in a sharp depreciation or forces the ...
Interpreting currency crises : a review of theory, evidence, and issues
The model argues that the collapse of exchange rate parity is an outcome of inconsistent monetary policy that induces steady loss of international reserves. The ...
Currency Crises - National Bureau of Economic Research
Both the canonical currency crisis model and the second-generation models presume that foreign exchange markets are efficient-that is, that they make the best ...
Perspectives on the Recent Currency Crisis Literature - WP/98/130
This paper examines how models of speculative attacks on fixed exchange rates have improved our understanding of the causes of currency crises. It also explains ...
Theoretical Aspects of Currency Crises
Usually, an industrialized country, which experiences devaluation after a (second-generation model of) currency crisis gets a boost to the economy because its ...
Models of currency crisis and speculative attack (Chapter 8)
Krugman (1979) builds a model of a small open economy and shows that, under a fixed exchange rate regime, excess creation of domestic credit relative to money ...
Forecasting currency crises with threshold models - ScienceDirect.com
In the scenario of a currency crisis, imposing such a condition implies that the crisis will not be triggered until all of the threshold variables exceed the ...
A corporate balance-sheet approach to currency crises
This paper presents a general equilibrium currency crisis model of the 'third generation', in which the possibility of currency crises is driven by the ...
Neural Networks for Estimating Speculative Attacks Models - MDPI
Currency crises have been analyzed and modeled over the last few decades. These currency crises develop mainly due to a balance of payments crisis, ...
currency crises models | SpringerLink
There have been many currency crises during the post-war era (see Kaminsky and Reinhart, 1999). A currency crisis is an episode in which the exchange rate ...