Download or read book Speculative Bubbles Speculative Attacks and Policy Switching written by Robert P. Flood and published by MIT Press. This book was released on 1994 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Speculative Attacks written by Mr.Guillermo Calvo and published by International Monetary Fund. This book was released on 1991-01-01 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: A brief survey of the literature on speculative attacks is provided. The nature and causes of balance-of-payments crises, the implications for the behavior of the current account and the real exchange rate are discussed. Also, potential areas for future research on balance-of-payments crises are suggested.
Download or read book Speculative Attacks written by Pablo E. Guidotti and published by . This book was released on 2006 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: A brief survey of the literature on speculative attacks is provided. The nature and causes of balance-of-payments crises, the implications for the behavior of the current account and the real exchange rate are discussed. Also, potential areas for future research on balance-of-payments crises are suggested.
Download or read book Speculative Attacks Forward Market Intervention and the Classic Bear Squeeze written by Mr.Subir Lall and published by International Monetary Fund. This book was released on 1997-12-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: A typical strategy used by speculators to launch an attack on a fixed exchange regime is the use of forward markets. Central banks also intervene in forward markets to counter speculation. This paper addresses the question of how an attack is launched on the forward market, and what the optimal policy response to such speculation is in the forward and spot markets. The paper also demonstrates how central banks can impose a bear squeeze on speculators. Recent events in South East Asian currency markets are interpreted within the framework of the model’s predictions.
Download or read book Speculative Attacks and Currency Crises written by Ms.Inci Ötker and published by International Monetary Fund. This book was released on 1995-11-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Speculative Attacks and Models of Balance of Payments Crises written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 1991-10-01 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Self Fulfilling Risk Predictions written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 1998-08-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Speculative Attacks written by Guillermo A. Calvo and published by . This book was released on 1991 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Speculative Attacks Private Signals and Intertemporal Trade offs written by Nikola A. Tarashev and published by . This book was released on 2008 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Devaluation Expectations and Speculative Attacks on the Currency written by Alpo Willman and published by . This book was released on 1987 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Regime Switching Approach to Studying Speculative Attacks written by Maria Soledad Martinez Peria and published by . This book was released on 1999 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Speculative attacks fundamentals and self fulfilling prophecies written by Robert P. Flood and published by . This book was released on 1996 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Do High Interest Rates Defend Currencies During Speculative Attacks written by Aart Kraay and published by . This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "No, there is no systematic association between interest rates and the outcome of speculative attacks"--Cover.
Download or read book Are Speculative Attacks Triggered by Sunspots written by Nikola A. Tarashev and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic Speculative Attacks written by Christophe Chamley and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Soft Exchange Rate Bands and Speculative Attacks written by Mr.Alessandro Prati and published by International Monetary Fund. This book was released on 1998-11-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a model of a “soft” exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past exchange rates, rather than the exchange rate’s current level, thus allowing the rate to move within wide margins in the short run, but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than “hard” target zones. These predictions are consistent with the ERM’s experience and the abatement of speculative pressure in European markets since the bands’ widening in 1993.
Download or read book Speculative Attacks and Currency Crises written by 0nci Ltker and published by . This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
