Speculative Attacks and Models of Balance of Payments Crises

Speculative Attacks and Models of Balance of Payments Crises
Author :
Publisher : International Monetary Fund
Total Pages : 64
Release :
ISBN-10 : 9781451852189
ISBN-13 : 1451852185
Rating : 4/5 (185 Downloads)

Book Synopsis Speculative Attacks and Models of Balance of Payments Crises by : Mr.Robert P. Flood

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.


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