Alternative interpretations of a stateless currency crisis
نویسندگان
چکیده
منابع مشابه
1 Currency Crisis Models
There have been many currency crises during the postwar era (see Kaminsky and Reinhart, 1999). A currency crisis is an episode in which the exchange rate depreciates substantially during a short period of time. There is an extensive literature on the causes and consequences of a currency crisis in a country with a fixed or heavily managed exchange rate. The models in this literature are often c...
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Given the volatility of exchange rates, there is a reemergence of interest in the effect of such volatility, in particular of large currency shocks, on the domestic financial markets and the output and investment decisions of firms. We use a portfolio approach to model the occurrence of large exchange rate shocks as deriving from the asset allocation decisions of the households of a small open ...
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Predicting currency fluctuations and crises is an important step in the foreign exchange policy of countries. Given that the purpose of early warning systems or patterns is to anticipate crises, their use is essential to prevent economic crises, including currency crises. Therefore, the purpose of this study is to model and rank the early warning factors of currency crisis by Bayesian averaging...
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Comparable economies to that of a new Palestinian state have mostly opted for a pegged exchange rate regime, but generally not a currency union or a currency board. The issue of a new Palestinian currency would bring only relatively small steady state seigniorage, but the transitional seigniorage gains would be more significant. Gravity models suggest the new state would do up to a third of its...
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ژورنال
عنوان ژورنال: Cambridge Journal of Economics
سال: 2017
ISSN: 0309-166X,1464-3545
DOI: 10.1093/cje/bew065