The Role of Domestic and Foreign Investors in a Simple Model of Speculative Attacks

The Role of Domestic and Foreign Investors in a Simple Model of Speculative Attacks
We introduce local and foreign investors in a simple model of speculative attacks. Local investors have less tolerance for overvaluation of the fixed exchange rate because they tend to incur lower costs when taking a short position and possess better information, and because of moral hazard created by discriminatory government guarantees. On the... READ MORE...

Publication date: October 2005
ISBN 9781451862249
$15.00

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