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Author : Robert P. Flood
Release : 1996
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Speculative attacks : fundamentals and self-fulfilling prophecies by : Robert P. Flood
Download or read book Speculative attacks : fundamentals and self-fulfilling prophecies written by Robert P. Flood. This book was released on 1996. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert P. Flood
Release : 1998-08
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Self-Fulfilling Risk Predictions by : Robert P. Flood
Download or read book Self-Fulfilling Risk Predictions written by Robert P. Flood. This book was released on 1998-08. Available in PDF, EPUB and Kindle. Book excerpt: Currency crises in Europe and Mexico, as well as those unfolding in Asia, have renewed efforts to understand and control the forces underlying speculative attacks on fixed exchange rates. Until the European crises in 1992-93, there was general agreement about the underlying cause of speculative attacks. A country would ultimately face an attack if it ran macroeconomic policies inconsistent in the longer term with the fixed exchange rate. For example, if a government monetized a large fiscal deficit, excessive money growth would cause its international reserve holdings to decline and eventually trigger an attack by speculators. The government would be forced to abandon the fixed exchange rate and let the currency depreciate. The view that deteriorating fundamentals led to currency crises was formalized in a set of "first-generation" crisis models.1
Author : Mr.Robert P. Flood
Release : 1998-08-01
Genre : Business & Economics
Kind : eBook
Book Rating : 692/5 ( reviews)
Book Synopsis Self-Fulfilling Risk Predictions by : Mr.Robert P. Flood
Download or read book Self-Fulfilling Risk Predictions written by Mr.Robert P. Flood. This book was released on 1998-08-01. Available in PDF, EPUB and Kindle. Book excerpt: The paper shows that changing market beliefs about currency risk can generate a self-fulfilling speculative attack on a fixed exchange rate. The attack does not require a later change in policies to make it profitable. This is illustrated by introducing an endogenous risk premium into a “first-generation model” of a speculative attack. The model is further modified to take account of sterilization, debt-financed fiscal deficits, and anticipatory price-setting behavior. The model is used to interpret the 1994 Mexican peso crisis.
Author : Robert P. Flood
Release : 1994
Genre : Business & Economics
Kind : eBook
Book Rating : 698/5 ( reviews)
Book Synopsis Speculative Bubbles, Speculative Attacks, and Policy Switching by : Robert P. Flood
Download or read book Speculative Bubbles, Speculative Attacks, and Policy Switching written by Robert P. Flood. This book was released on 1994. 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 : Leila Simona Talani
Release : 2008-01-01
Genre : Business & Economics
Kind : eBook
Book Rating : 509/5 ( reviews)
Book Synopsis Between Growth and Stability by : Leila Simona Talani
Download or read book Between Growth and Stability written by Leila Simona Talani. This book was released on 2008-01-01. Available in PDF, EPUB and Kindle. Book excerpt: Very comprehensive and based on a detailed economic and political analysis, Between Growth and Stability is clearly a vital book for both students and seasoned economists. . . Thomas Bauwens, Bibliothèque Européenne Combining economic and political science perspectives, this timely and important book describes and analyses the circumstances and events leading to the demise and subsequent reform of the Stability and Growth Pact (SGP). Between Growth and Stability aims to find a solution to the dilemmas posed by fiscal policy coordination in the context of a single currency area, as well as contrasting the alternative heuristic frameworks and theoretical perspectives employed. It focuses particularly on the question of credibility, its definition and its meaning in the day-to-day workings of economic and monetary union. The book examines the actual performance of the SGP and proposes ways in which the integrity of European fiscal rule making might be improved in the future. This book will be essential reading for policymakers, politicians, members of European institutions and international organizations. The in-depth analysis will also be invaluable to scholars of international relations and economics, as well as undergraduate and postgraduate students in international relations, political science and economics.
