Central Bank Vulnerability and the Credibility of Commitments : A Value-at-Risk Approach to Currency Crises /
A loss of solvency increases central bank vulnerability, reducing the credibility of commitments to defend a nominal regime, including an exchange rate peg. This paper develops a methodology to assess central bank solvency and exposure to risk. The measure, based on Value-at-Risk, is frequently used...
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| Materyal Türü: | Dergi |
| Dil: | English |
| Baskı/Yayın Bilgisi: |
Washington, D.C. :
International Monetary Fund,
1998.
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| Seri Bilgileri: | IMF Working Papers; Working Paper ;
No. 1998/065 |
| Online Erişim: | Full text available on IMF |