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 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 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 Pierre-Richard Agenor and published by . This book was released on 2006 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 Perspectiveson the Recent Currency Crisis Literature written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 1998-09-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 and models of balance of payments crises written by Pierre-Richard Agénor and published by . This book was released on 1991 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Anticipating Balance of Payments Crises The Role of Early Warning Systems written by Mr.Eduardo Borensztein and published by International Monetary Fund. This book was released on 2000-01-24 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Rational and Self fulfilling Balance of payments Crises written by Maurice Obstfeld and published by . This book was released on 1984 with total page 23 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 Speculative Attacks and Balance of Payments Crises written by Jukka Leskelä and published by . This book was released on 1986 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Balance of Payments Crises written by George Syrichas and published by . This book was released on 1987 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Balance of Payments Crises Under Inflation Targeting written by Michael Kumhof and published by International Monetary Fund. This book was released on 2007-04 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes a small open economy model under inflation targeting. It shows why such a monetary regime is vulnerable to speculative attacks that take place over a short period rather than instantaneously. The speed at which the regime collapses, and the extent of reserve losses, are increasing in the central bank's explicit or implicit commitment to intervene in the foreign exchange market. Attacks are therefore ranked, from most to least severe, as follows: Exchange rate targeting, CPI inflation targeting, domestic nontradables inflation targeting, and money targeting. Under inflation targeting the size of the attack is increasing in the tradables consumption share.
Download or read book Speculative Attacks and Models of Balance of payments Crisis written by International Monetary Fund. Research Department and published by . This book was released on 1991 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Studies in the Theory of Balance of payments Crises written by Alpo Willman and published by . This book was released on 1992 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Speculative Attacks and Balance of Payments Crises in Developing Economies with Dual Exchange Rate Regimes written by Vijay Bhawnani and published by . This book was released on 1994 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Speculative Currency Attacks and Balance of Payments Crises written by Keith Blackburn and published by . This book was released on 1992 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
