This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Analyzing and managing exchange-rate crises Author info | Abstract | Publisher info | Download info | Related research | Statistics Peter Kenen
Additional information is available for the following
registered author(s):
This paper reviews theoretical work on exchange-rate crises and discusses recent attempts to reduce the risk of crises and manage them more effectively. Models usually used to explain crises—those in which they are due to bad policies and those in which they are due to self-fulfilling speculative attacks—do not often explain the timing of crises. Bad policies often play a role, but the onset of a crisis is frequently due to a political shock that leads market participants to revise their views about a government's ability to improve its policies. For this reason, efforts of the IMF to promote the publication of more economic data may not be very helpful in preventing crises. Turning to crisis management, the paper criticizes plans like those of Jeffrey Sachs, which would give soveregn debtors protection resembling that afforded by bankruptcy law. It favors instead the pragmatic approach developed in the report recently endorsed by the major industrial countries. Copyright Kluwer Academic Publishers 1996
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Article provided by Springer in its journal Open Economies Review .
Volume (Year): 7 (1996)
Issue (Month): 1 (March)
Pages: 469-492
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:kap:openec:v:7:y:1996:i:1:p:469-492Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100323
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Keywords: Exchange rates ; debt ; moratoria ; IMF ; Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Rose, Andrew K. & Svensson, Lars E. O., 1994.
"European exchange rate credibility before the fall ,"
European Economic Review ,
Elsevier, vol. 38(6), pages 1185-1216, June.
[Downloadable!] (restricted)
Other versions:
Rose, A.K. & Svensson, L.E.O., 1993.
"European Exchange Rate Credibility Before the Fall ,"
Papers
542, Stockholm - International Economic Studies.
Rose, Andrew K & Svensson, Lars E O, 1993.
"European Exchange Rate Credibility Before the Fall ,"
CEPR Discussion Papers
852, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Andrew K. Rose & Lars E.O. Svensson, 1993.
"European Exchange Rate Credibility Before the Fall ,"
NBER Working Papers
4495, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Drazen, Allan & Masson, Paul R, 1994.
"Credibility of Policies versus Credibility of Policymakers ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 109(3), pages 735-54, August.
[Downloadable!] (restricted)
Other versions: Flood, Robert P. & Garber, Peter M., 1984.
"Collapsing exchange-rate regimes : Some linear examples ,"
Journal of International Economics ,
Elsevier, vol. 17(1-2), pages 1-13, August.
[Downloadable!] (restricted)
Frankel, Jeffrey A. & Rose, Andrew K., 1996.
"Currency crashes in emerging markets: An empirical treatment ,"
Journal of International Economics ,
Elsevier, vol. 41(3-4), pages 351-366, November.
[Downloadable!] (restricted)
Other versions: F Gulcin Ozkan & Alan Sutherland, .
"A Model of the ERM Crisis ,"
Discussion Papers
94/2, Department of Economics, University of York.
Other versions: Fernandez-Arias, Eduardo & Montiel, Peter J, 1996.
"The Surge in Capital Inflows to Developing Countries: An Analytical Overview ,"
World Bank Economic Review ,
Oxford University Press, vol. 10(1), pages 51-77, January.
Obstfeld, Maurice, 1986.
"Rational and Self-fulfilling Balance-of-Payments Crises ,"
American Economic Review ,
American Economic Association, vol. 76(1), pages 72-81, March.
[Downloadable!] (restricted)
Other versions: Garber, P.M. & Svensson, L.E.O., 1994.
"The Operation and Collapse of Fixed Exchange Rate Regimes ,"
Papers
588, Stockholm - International Economic Studies.
Other versions:
Peter M. Garber & Lars E.O. Svensson, 1994.
"The Operation and Collapse of Fixed Exchange Rate Regimes ,"
NBER Working Papers
4971, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Garber, Peter M. & Svensson, Lars E.O., 1995.
"The operation and collapse of fixed exchange rate regimes ,"
Handbook of International Economics ,
in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 36, pages 1865-1911
Elsevier.
[Downloadable!] (restricted) Davies, Gareth & Vines, David, 1995.
"Equilibrium Currency Crises: Are Multiple Equilibria Self-fulfilling or History Dependent? ,"
CEPR Discussion Papers
1239, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Manuel Agosin & Ricardo French-Davis, 1997.
"Managing capital inflows in Chile ,"
Estudios de Economia ,
University of Chile, Department of Economics, vol. 24(2 Year 19), pages 297-326, December.
[Downloadable!]
Michael P. Dooley, 1995.
"A Survey of Academic Literature on Controls over International Capital Transactions ,"
IMF Working Papers
95/127, International Monetary Fund.
Other versions: Adam Bennett & MarÃa Vicenta Carkovic S. & Susan Schadler & Robert Brandon Kahn, 1993.
"Recent Experiences with Surges in Capital Inflows ,"
IMF Occasional Papers
108, International Monetary Fund.
Reinhart, Carmen & Calvo, Sara, 1996.
"Capital Flows to Latin America: Is There Evidence of Contagion Effects?” ,"
MPRA Paper
7124, University Library of Munich, Germany.
[Downloadable!]
Other versions: Dooley, Michael & Fernandez-Arias, Eduardo & Kletzer, Kenneth, 1996.
"Is the Debt Crisis History? Recent Private Capital Inflows to Developing Countries ,"
World Bank Economic Review ,
Oxford University Press, vol. 10(1), pages 27-50, January.
Other versions: Krugman, Paul, 1979.
"A Model of Balance-of-Payments Crises ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 11(3), pages 311-25, August.
[Downloadable!] (restricted)
Barry Eichengreen & Charles Wyplosz, 1993.
"The Unstable EMS ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 24(1993-1), pages 51-144.
[Downloadable!]
Gerlach, Stefan & Smets, Frank, 1995.
"Contagious speculative attacks ,"
European Journal of Political Economy ,
Elsevier, vol. 11(1), pages 45-63, March.
[Downloadable!] (restricted)
Other versions:
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Paolo Savona & Aurelio Maccario & Chiara Oldani, 2000.
"On Monetary Analysis of Derivatives ,"
Open Economies Review ,
Springer, vol. 11(1), pages 149-175, August.
[Downloadable!] (restricted)
Michael Bordo & Anna Schwartz, 1996.
"Why clashes between internal and external stability goals end in currency crises, 1797–1994 ,"
Open Economies Review ,
Springer, vol. 7(1), pages 437-468, March.
[Downloadable!] (restricted)
George Tavlas, 1996.
"Currency crises: Introduction ,"
Open Economies Review ,
Springer, vol. 7(1), pages 431-436, March.
[Downloadable!] (restricted)
Julius Horvath, 1999.
"The May 1997 Currency Crisis in the Czech Republic ,"
Post-Communist Economies ,
Taylor and Francis Journals, vol. 11(3), pages 277-298, September.
[Downloadable!] (restricted)
Michael D. Bordo & Anna J. Schwartz, 1997.
"Why Clashes Between Internal and External Stability Goals End in Currency Crises, 1797-1994 ,"
NBER Working Papers
5710, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Access and
download statistics Did you know? IDEAS also indexes book chapters .
This page was last updated on 2009-10-15.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .