Self-Fulfilling Risk Predictions : An Application to Speculative Attacks /
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-...
| Autore principale: | Flood, Robert |
|---|---|
| Altri autori: | Marion, Nancy |
| Natura: | Periodico |
| Lingua: | English |
| Pubblicazione: |
Washington, D.C. :
International Monetary Fund,
1998.
|
| Serie: | IMF Working Papers; Working Paper ;
No. 1998/124 |
| Accesso online: | Full text available on IMF |
Documenti analoghi
-
Can Debt Crises Be Self-Fulfilling? /
di: Chamon, Marcos
Pubblicazione: (2004) - Operations & Fulfillment
-
Messianic Fulfillments
di: Mauro -
Intertwined Sovereign and Bank Solvencies in a Model of Self-Fulfilling Crisis /
di: Adler, Gustavo
Pubblicazione: (2012) -
Speculative Attacks and Models of Balance of Payments Crises /
di: Flood, Robert
Pubblicazione: (1991)