An eclectic third generation model of financial and exchange rate crises

Joaquin Novella Izquierdo and Joan Ripoll i Alcon
Additional contact information
Joan Ripoll i Alcon: Universitat de Barcelona

No 196, Working Papers in Economics from Universitat de Barcelona. Espai de Recerca en Economia

Abstract: This paper presents an eclectic model that systematizes the dynamics of self-fulfilling crises, using the main aspects of the three typologies of third generation models, to describe the stylized facts that hasten the withdrawal of a pegged exchange rate system. The most striking contributions are the implications for economic policy as well the vanishing role of exchange rate as an instrument of macroeconomic adjustment, when balance-sheet effects are a real possibility.

JEL-codes: E44 E52 F31 F32 F34 F36 F41 F43 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2008
New Economics Papers: this item is included in nep-cba, nep-fmk, nep-ifn, nep-mac and nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.ere.ub.es/dtreball/E08196.rdf/at_download/file
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.ere.ub.es:80 (A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond.)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bar:bedcje:2008196

Access Statistics for this paper

More papers in Working Papers in Economics from Universitat de Barcelona. Espai de Recerca en Economia Espai de Recerca en Economia, Facultat de Ciències Econòmiques. Tinent Coronel Valenzuela, Num 1-11 08034 Barcelona. Spain.. Contact information at EDIRC.
Bibliographic data for series maintained by Espai de Recerca en Economia ().