Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets
نویسندگان
چکیده
منابع مشابه
Financial Fragility and the Exchange Rate Regime
We study financial fragility, exchange rate crises, and monetary policy in an open economy version of a Diamond-Dybvig model. The banking system, the exchange rate regime, and central bank credit policy are seen as parts of a mechanism intended to maximize social welfare; if the mechanism fails, banking crises and speculative attacks become possible. We compare currency boards, fixed rates, and...
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ژورنال
عنوان ژورنال: AEA Papers and Proceedings
سال: 2018
ISSN: 2574-0768,2574-0776
DOI: 10.1257/pandp.20181057