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Policy Measures to Avoid a Currency Crisis

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  • Ozkan, F Gulcin
  • Sutherland, Alan

Abstract

This paper considers a number of policy measures that may be used to preserve a fixed exchange rate. These are analyzed in a model where a switch of exchange-rate regime is triggered by an optimizing policymaker in response to extreme economic conditions. It is shown how a number of policy measures can be used to alter the balance between the costs and benefits of switching between regimes. These policy measures have both a direct effect on the policymaker's choice of regime switching point and an indirect effect through private-sector expectations of a regime switch. Copyright 1995 by Royal Economic Society.

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  • Ozkan, F Gulcin & Sutherland, Alan, 1995. "Policy Measures to Avoid a Currency Crisis," Economic Journal, Royal Economic Society, vol. 105(429), pages 510-519, March.
    • Handle: RePEc:ecj:econjl:v:105:y:1995:i:429:p:510-19
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