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Modelli di crisi valutarie e misure di politica economica

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  • Pompeo Della Posta

    () (Università degli Studi di Pisa, Dipartimento di Scienze Economiche, Pisa)

Abstract

Some recent articles explain the Asian crisis almost exclusively in terms of "fundamentals". The role played by private sector's expectations, however, should also be considered. In my view, then, "escape clause" models exhibiting multiple equilibria within a grey area, especially when integrated with the possibility that expectations may change exogenously so as to modify the grey area itself, allow a better understanding of exchange rate crises. When considering the role played by expectations, the economic policy measures to be adopted in order to assure the stability of financial and currency markets differ from the remedies emerging when those aspects are ignored.

Suggested Citation

  • Pompeo Della Posta, 2002. "Modelli di crisi valutarie e misure di politica economica," Moneta e Credito, Economia civile, vol. 55(219), pages 237-262.
  • Handle: RePEc:psl:moneta:2002:32
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    File URL: http://www.rspi.uniroma1.it/index.php/monetaecredito/article/view/9791/9676
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    References listed on IDEAS

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    Keywords

    Crisis; Exchange Rates;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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