Foreign exchange rate entropy evolution during financial crises
نویسندگان
چکیده
منابع مشابه
Exchange Rate Adjustment in Financial Crises∗
In the 1990’s many economists criticized emerging market countries for their unwillingness to allow exchange rates to adjust. The ‘fear of floating’ was seen as severe distortion in the international monetary system, and a hindrance to good macroeconomic policy for these countries. In the worst case, a persistent defence of an exchange rate peg could lead to over -borrowing and precipitate curr...
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The simultaneous determination of financial default and political crises is studied in an open economy model. Political crises accompany default in equilibrium because of an information transmission conflict between the government and the public. Multiple equilibria are possible: if foreign lenders are pessimistic about the country’s stability, they demand a high interest on the debt, exacerbat...
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ژورنال
عنوان ژورنال: Physica A: Statistical Mechanics and its Applications
سال: 2016
ISSN: 0378-4371
DOI: 10.1016/j.physa.2015.12.124