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Titel:Spreading Currency Crises
The Role of Economic Interdependence
Von: Berger, Wolfram
Person: Berger, Wolfram
Verfasser
aut
Wagner, Helmut
Sonstige
Hauptverfasser: Berger, Wolfram (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2002
Schriftenreihe:IMF Working Papers Working Paper No. 02/144
Online-Zugang:http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
http://elibrary.imf.org/view/IMF001/06411-9781451856453/06411-9781451856453/06411-9781451856453.xml
Abstract:We analyze in this paper how the mutual dependence of private sector expectations in different countries on one another influences the stability of fixed exchange rate regimes. The crisis probabilities of countries trading with one another are interdependent because wage setters react to an imminent loss of international competitiveness stemming from an increase in the crisis probability of a trading partner. If a currency crisis in one country is perceived to be increasingly likely, the probability of devaluation of its trading partners' currencies to restore their international competitiveness rises as well. Thus, not only actual devaluations but also an increasing crisis probability may trigger currency crises elsewhere. We show that not only fundamental weaknesses but also spontaneous shifts in market sentiment may play a role in precipitating currency crises
Beschreibung:1 Online-Ressource (20 p)
ISBN:1451856458
9781451856453

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