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Author : Willem H. Buiter
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (221 download)
Download or read book Anomalous Speculative Attacks on Fixed Exchange Rate Regimes written by Willem H. Buiter and published by . This book was released on 1989 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert P. Flood
Publisher : MIT Press
ISBN 13 : 9780262061698
Total Pages : 528 pages
Book Rating : 4.0/5 (616 download)
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.
Author : Ms.Inci Ötker
Publisher : International Monetary Fund
ISBN 13 : 1451853548
Total Pages : 38 pages
Book Rating : 4.4/5 (518 download)
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.
Author : Mr.Guillermo Calvo
Publisher : International Monetary Fund
ISBN 13 : 1451926510
Total Pages : 7 pages
Book Rating : 4.4/5 (519 download)
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.
Author : Ivan Pastine
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.X/5 (6 download)
Download or read book Speculation and the Decision to Abandon a Fixed Exchange Rate Regime written by Ivan Pastine and published by . This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Subir Lall
Publisher : International Monetary Fund
ISBN 13 : 1451980205
Total Pages : 38 pages
Book Rating : 4.4/5 (519 download)
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.
Author : Alpo Willman
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 ( download)
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:
Author : Anja Zenker
Publisher : Springer Gabler
ISBN 13 : 9783658048280
Total Pages : 133 pages
Book Rating : 4.0/5 (482 download)
Download or read book Currency Speculation in Fixed Exchange Rate Regimes written by Anja Zenker and published by Springer Gabler. This book was released on 2014-01-21 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Michael P. Dooley
Publisher : University of Chicago Press
ISBN 13 : 0226155420
Total Pages : 456 pages
Book Rating : 4.2/5 (261 download)
Download or read book Managing Currency Crises in Emerging Markets written by Michael P. Dooley and published by University of Chicago Press. This book was released on 2007-11-01 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: The management of financial crises in emerging markets is a vital and high-stakes challenge in an increasingly global economy. For this reason, it's also a highly contentious issue in today's public policy circles. In this book, leading economists-many of whom have also participated in policy debates on these issues-consider how best to reduce the frequency and cost of such crises. The contributions here explore the management process from the beginning of a crisis to the long-term effects of the techniques used to minimize it. The first three chapters focus on the earliest responses and the immediate defense of a currency under attack, exploring whether unnecessary damage to economies can be avoided by adopting the right response within the first few days of a financial crisis. Next, contributors examine the adjustment programs that follow, considering how to design these programs so that they shorten the recovery phase, encourage economic growth, and minimize the probability of future difficulties. Finally, the last four papers analyze the actual effects of adjustment programs, asking whether they accomplish what they are designed to do-and whether, as many critics assert, they impose disproportionate costs on the poorest members of society. Recent high-profile currency crises have proven not only how harmful they can be to neighboring economies and trading partners, but also how important policy responses can be in determining their duration and severity. Economists and policymakers will welcome the insightful evaluations in this important volume, and those of its companion, Sebastian Edwards and Jeffrey A. Frankel's Preventing Currency Crises in Emerging Markets.
Author : Martin Sola
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (6 download)
Download or read book Essays on Speculative Attacks on Fixed Exchange Rate Regimes, Speculative Bubbles and Endogenous Switching Regime Estimation written by Martin Sola and published by . This book was released on 1991 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : 0nci Ltker
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (129 download)
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.
Author : Sujit Chakravorti
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book The Double Play written by Sujit Chakravorti and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the potential for foreign speculators to profit from simultaneously taking short positions in foreign exchange and equity markets under a fixed exchange rate regime, in what has been termed as the quot;double play.quot; Such a strategy is considered when the monetary authority is faced with two conflicting objectives-exchange rate stability and low interest rates. While the monetary authority may not be able to directly intervene to stabilize interest rates under the fixed exchange rate regime, it may consider intervention in equity markets to head off speculative pressure on interest rates. The model determines market conditions where speculators may find the double play strategy profitable and the impact of government intervention on speculative short equity positions and the interest rate, concluding that intervention can never simultaneously reduce speculation in the equity and the money markets. In the case where country fundamentals are strong, intervention while reducing short positions in equity markets actually increases short positions in the money market and induces higher interest rates. The paper concludes by discussing the Hong Kong Monetary Authority's intervention in the Hong Kong equity market within the context of this model.
Author : Subir Lall
Publisher :
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.:/5 (366 download)
Download or read book Essays on Banking, Liquidity and Speculative Attacks on Fixed Exchange Rate Regimes written by Subir Lall and published by . This book was released on 1995 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Piet Philip Christiansen
Publisher :
ISBN 13 :
Total Pages : 79 pages
Book Rating : 4.:/5 (115 download)
Download or read book Speculative attacks on exchange rate regimes written by Piet Philip Christiansen and published by . This book was released on 2011 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Miguel Aldo Savastano
Publisher :
ISBN 13 :
Total Pages : 420 pages
Book Rating : 4.:/5 (23 download)
Download or read book Speculative Attacks and Currency Substitution Under Managed Exchange Rate Regimes in Developing Countries written by Miguel Aldo Savastano and published by . This book was released on 1990 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anja Zenker
Publisher : Springer Science & Business Media
ISBN 13 : 3658048298
Total Pages : 142 pages
Book Rating : 4.6/5 (58 download)
Download or read book Currency Speculation in Fixed Exchange Rate Regimes written by Anja Zenker and published by Springer Science & Business Media. This book was released on 2014-01-08 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
ISBN 13 : 1451852185
Total Pages : 64 pages
Book Rating : 4.4/5 (518 download)
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.
