188宝金博页面版

  • 图案背景
  • 纯色背景
视图
标记
批注
批注本地保存成功，开通会员云端永久保存 去开通
loveone110

上传于：2016-03-24

粉丝量：2

该文档贡献者很忙，什么也没留下。


  • 相关
  • 目录
  • 笔记
  • 书签

188宝金博页面版:更多相关文档

  • THE FOREIGN EXCHANGE MARKET AND EXCHANGE RATES

    星级： 5 页

  • the Balance of Payments and Exchange Rates

    星级： 21 页

  • Exchange Rates and the Foreign Exchange Market

    星级： 34 页

  • The Determination of Exchange Rates

    星级： 25 页

  • Chapt13 exchange rates and the foreign exchange market

    星级： 54 页

  • Investigation of the Rates of Dimer Exchange and Electron

    星级： 17 页

  • ...markets,exchange rates and the balance of paymen...

    星级： 55 页

  • 【精品】ch9 Exchange Rates and the Foreign Exchange Rate Market

    星级： 33 页

  • 14-Asset markets,exchange rates and the balance of payments

    星级： 55 页

  • the balance of payments and exchange rates

    星级： 21 页

暂无目录

点击鼠标右键菜单,创建目录

    暂无笔记

    选择文本，点击鼠标右键菜单，添加笔记

    暂无书签

    在左侧文档中，点击鼠标右键，添加书签

    188宝金博页面版: Speculative Attacks and the Dynamics of Exchange Rates

    下载积分： 3000

    内容提示： ANNALS OF ECONOMICS AND FINANCE 3, 219–248 (2002)Speculative Attacks and the Dynamics of Exchange RatesStephen J. TurnovskyUniversity of Washington, Seattle, WA, 98195andJian Xu *Kenyon College, Gambier, OH, 43022This paper examines the issue of speculative attacks on the exchange rate inan economy in which. following the attack the government allows the exchangerate to float for a limited period, before repegging it at a higher, sustainable,level. We highlight the tradeoffs between the length of the floa...

    文档格式：PDF | 页数：30 | 浏览次数：45 | 上传日期：2016-03-24 11:29:02 | 文档星级：
    ANNALS OF ECONOMICS AND FINANCE 3, 219–248 (2002)Speculative Attacks and the Dynamics of Exchange RatesStephen J. TurnovskyUniversity of Washington, Seattle, WA, 98195andJian Xu *Kenyon College, Gambier, OH, 43022This paper examines the issue of speculative attacks on the exchange rate inan economy in which. following the attack the government allows the exchangerate to float for a limited period, before repegging it at a higher, sustainable,level. We highlight the tradeoffs between the length of the floating rate periodand the timing of the speculative attack, and the implied consequences for thetime paths of the exchange rate and consumption. By letting the exchangerate float for an appropriate period, the exchange rate crisis can be delayedfor a maximum period of time, although delaying the crisis as long as possi-ble is non-optimal. In some respects our results are qualitatively similar toearlier results based on non-optimizing models, although employing a rationalintertemporal optimizing framework substantially enhances our understandingof the determinants of the crises. c ? 2002 Peking University PressKey Words : Speculative attacks; Exchange rates; Dynamcics.JEL Classification Numbers : F31, F32.1. INTRODUCTIONThe regular recurrence of financial crises throughout the world during thelast three decades has ensured that this continues to remain a vibrant topicof research. Formal analysis of a balance of payments crisis was initiatedby Krugman (1979). 1 He showed that under a fixed exchange rate regime,domestic credit creation in excess of the growth of money demand leads to a* This paper is a revised version of Chapter 1 of the Ph.D. thesis by Jian Xu, submittedto the University of Washington.1 Krugman’s model was motivated by Salant and Henderson’s (1978) analysis of spec-ulative attacks on the government-controlled price of gold.2191529-7373/2002Copyright c ? 2002 by Peking University PressAll rights of reproduction in any form reserved.

    阅读了该文档的用户还阅读了这些文档

    188宝金博页面版:关于我们

    188宝金博页面版:帮助中心

    188宝金博页面版:关注我们

    • 新浪微博

    关注188宝金博页面版公众号

    188宝金博页面版
    阅读
    APP
    阅读
    返回
    顶部
    188宝金博页面版官网登录在线平台入口（2026已更新）—江苏协昌电子科技股份有限公司