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Recent Developments on Money and Finance
Gabriele . Ed(S): Camera
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Description for Recent Developments on Money and Finance
Paperback. Editor(s): Camera, Gabriele. Series: Studies in Economic Theory. Num Pages: 273 pages, 5 black & white tables, biography. BIC Classification: KFF. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 14. Weight in Grams: 433.
nomic activity. The paper highlights how the interaction of domestic informational frictions, perfect capital mobility, and foreign interest rates can combine to provoke a sudden depreciation of the exchange rate and a prolonged decline in output. In particular,theauthorsdescribeconditionsunderwhichtwodifferentequilibriaexist. One has a high level of outputand a minorcostly-state-veri?cationproblem,and the other equilibrium has a higher level of output and a severe costly-state-veri?cation problem. In addition, the authors show how their model can successfully simulate a crisispaththatisqualitativelyconsistentwithoccurrencessuchastheMexican?n- cial crisis in 1994. An importantlesson emergingfromthis work is that even a small change in external factors can generate a "crisis" path, when this initial shock ... Read more
nomic activity. The paper highlights how the interaction of domestic informational frictions, perfect capital mobility, and foreign interest rates can combine to provoke a sudden depreciation of the exchange rate and a prolonged decline in output. In particular,theauthorsdescribeconditionsunderwhichtwodifferentequilibriaexist. One has a high level of outputand a minorcostly-state-veri?cationproblem,and the other equilibrium has a higher level of output and a severe costly-state-veri?cation problem. In addition, the authors show how their model can successfully simulate a crisispaththatisqualitativelyconsistentwithoccurrencessuchastheMexican?n- cial crisis in 1994. An importantlesson emergingfromthis work is that even a small change in external factors can generate a "crisis" path, when this initial shock ... Read more
Product Details
Format
Paperback
Publication date
2010
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
273
Condition
New
Series
Studies in Economic Theory
Number of Pages
273
Place of Publication
Berlin, Germany
ISBN
9783642066177
SKU
V9783642066177
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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