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A Large Poisson Currency Crises Game: Towards a Theory of Both the Onset and the Swiftness of Currency Attacks


  • Makris, M.


Existing models of self-fulfilling crises fail to explain both the onset and the abruptness of recent currency attacks. In this apper we follow the suggestion by Myerson (1998) that in games with a very large number of players 'a more realistic model should admit some uncertainty about the number of players in the game.' In particular, we build a Large Poisson Currency Crises Game which turns out to be consistent with sudden attacks and unique equilibrium.

Suggested Citation

  • Makris, M., 2000. "A Large Poisson Currency Crises Game: Towards a Theory of Both the Onset and the Swiftness of Currency Attacks," Discussion Papers 0015, Exeter University, Department of Economics.
  • Handle: RePEc:exe:wpaper:0015

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    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other


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