Multiple Equilibria, Contagion, and the Emerging Market Crises
Download or Read eBook Multiple Equilibria, Contagion, and the Emerging Market Crises PDF written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1999-12-01 with total page 26 pages. Available in PDF, EPUB and Kindle.
Author | : Mr.Paul R. Masson |
Publisher | : International Monetary Fund |
Total Pages | : 26 |
Release | : 1999-12-01 |
ISBN-10 | : 9781451857979 |
ISBN-13 | : 1451857977 |
Rating | : 4/5 (79 Downloads) |
Book Synopsis Multiple Equilibria, Contagion, and the Emerging Market Crises by : Mr.Paul R. Masson
Book excerpt: The paper surveys the types of models producing multiple equilibria in financial markets. It argues that such models are consistent with observed phenomena, such as the greater volatility of financial asset prices than of macroeconomic fundamentals. Alternative explanations are compared with the stylized facts concerning capital flows, portfolio shifts, and exchange rate crises. Implications for crisis prediction and prevention are then discussed.