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Currency futures and currency crises [PDF]

, 2004
Since financial derivatives are key instruments for risk taking as well as risk reduction, it is only straightforward to examine their role in currency crises. This paper addresses this issue by investigating the impact of currency futures trading on the underlying exchange rates.
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currency crises models

2008
There have been many currency crises during the post-war era (see Kaminsky and Reinhart, 1999). A currency crisis is an episode in which the exchange rate depreciates substantially during a short period of time. There is an extensive literature on the causes and consequences of a currency crisis in a country with a fixed or heavily managed exchange ...
Craig Burnside, Martin Eichenbaum, Sergio Rebelo   +2 more
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Currency crises: Introduction

Open Economies Review, 1996
The papers in this volume deal with the antecedents and consequences of currency crises. The emergence of intense pressures within the exchange rate mechanism (ERM) of the European Monetary System in late 1992 and in 1993, eventuating in the suspension of several currencies from the mechanism and a widening of the fluctuation bands to 15 percent for ...
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Currency Flows and Currency Crises

CESifo Economic Studies, 2017
According to the most common understanding, currency crises are always and everywhere a monetary phenomenon. Based on a formal theoretical model and ample empirical evidence, this article argues instead that currency crises are always and everywhere about external imbalances.
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Currency Crises and Output Dynamics

Open Economies Review, 2014
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Basistha, Arabinda, Teimouri, Sheida
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Heavy tails and currency crises

Journal of Empirical Finance, 2007
The paper demonstrates that in affine models of foreign exchange rate returns, the nature of cross sectional interdependence in crisis periods depends on the tail properties of the fundamentals' distribution. If the fundamentals exhibit thin tails (e.g.
Straetmans, S.T.M., Hartmann, Ph., de Vries, C.G.   +2 more
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Political Booms and Currency Crises

Journal of Macroeconomics, 2020
Popularity-concerned governments may not have enough incentives to take decisive corrective actions to address underlying weaknesses in the economy, since such prudent policies, that would be optimal for the economy, may be politically costly in the short-term.
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Currency Substitution and Currency Crises

Journal of Economics and Management, 2007
This paper investigates the relationship between the collapse timing of exchange rate regime and degree of substitutability of foreign currency for domestic currency as a medium of exchange. According to the spirit of Chen et al. (1981), Tsaur (1987), Chang et al.
Yu-Fong Sun, Tien-Wang Tsaur
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Currency crises and institutions

Journal of International Money and Finance, 2006
Abstract This study furthers recent literature on currency crises and institutions. The main objective is to re-evaluate the causes of currency crises by focusing on the role played by a broader array of institutional factors and crisis episodes than have previously been considered while at the same time controlling for economic factors.
Pattama L. Shimpalee, Janice Boucher Breuer   +1 more
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Transparency and currency crises

Economics & Politics, 2018
AbstractThe role transparency plays in the prevention of currency crises is widely acknowledged. Nevertheless, the relationship between transparency and currency crises has rarely been subjected to systematic cross‐national scrutiny. This paper attempts to explore the effect of transparency on currency crises by focusing on a specific dimension of ...
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