Currency Crises and Foreign Reserves : A Simple Model

A Simple Model

Currency Crises and Foreign Reserves : A Simple Model
This paper addresses the important question of how far a government will run down its stock of foreign reserves in a defense of a fixed exchange rate. An optimizing model of currency crisis is presented in which the decision of whether or not to borrow in a defense of a peg is explicitly analyzed. The threshold level of reserves is then... READ MORE...

Publication date: February 2001
ISBN 9781451843644
$15.00

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