Currency crises, sunspots and exchange-rate overshooting
This paper provides a macroeconomic framework for theoretical and empirical analysis of the role of sunspots and shock-dependent expectations in currency crises. The model distinguishes between macroeconomic fundamentals and shock expectations as cause of currency crises. It is assumed that good pri...
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| Format: | Journal Article |
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World Business Institute
2009
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| Online Access: | http://hdl.handle.net/20.500.11937/43889 |