Multiple Equilibria, Contagion, and the Emerging Market Crises /

The paper surveys the types of models producing multiple equilibria in financial markets. It argues that such models are consistent with observed phenomena, such as the greater volatility of financial asset prices than of macroeconomic fundamentals. Alternative explanations are compared with the sty...

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Autor principal: Masson, Paul
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 1999.
Col·lecció:IMF Working Papers; Working Paper ; No. 1999/164
Accés en línia:Full text available on IMF
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245 1 0 |a Multiple Equilibria, Contagion, and the Emerging Market Crises /  |c Paul Masson. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1999. 
300 |a 1 online resource (25 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The paper surveys the types of models producing multiple equilibria in financial markets. It argues that such models are consistent with observed phenomena, such as the greater volatility of financial asset prices than of macroeconomic fundamentals. Alternative explanations are compared with the stylized facts concerning capital flows, portfolio shifts, and exchange rate crises. Implications for crisis prediction and prevention are then discussed. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 1999/164 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1999/164/001.1999.issue-164-en.xml  |z IMF e-Library