Can Miracles Lead to Crises? : The Role of Optimism in Emerging Markets Crises /
Emerging market financial crises are abrupt and dramatic, usually occurring after a period of high output growth, massive capital flows, and a boom in asset markets. This paper develops an equilibrium asset-pricing model with informational frictions in which vulnerability and the crisis itself are c...
| Tác giả chính: | |
|---|---|
| Định dạng: | Tạp chí |
| Ngôn ngữ: | English |
| Được phát hành: |
Washington, D.C. :
International Monetary Fund,
2007.
|
| Loạt: | IMF Working Papers; Working Paper ;
No. 2007/223 |
| Truy cập trực tuyến: | Full text available on IMF |