The Mexican peso crisis: Sudden death or death foretold?

Journal of International Economics

Volumn 41, Issue 3-4, 1996, Pages 265-283

  Sachs, Jeffrey ^a,b   Tornell, Aarón ^a,b   Velasco, Andrés ^b,c  

^a HARVARD UNIVERSITY   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c NEW YORK UNIVERSITY   (United States)

Author keywords

Capital movements; Currency crises; Fixed exchange rates

Indexed keywords

EID: 0001259533     PISSN: 00221996     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0022-1996(96)01437-7     Document Type: Article

References (24)

1. Barro, R., 1979, On the determination of the public debt, Journal of Political Economy, Vol. 87.
2. Barro, R. and D. Gordon, 1983, A positive theory of monetary policy in a natural rate model, Journal of Political Economy.
3. Bensaid and Jeanne, 1994a, The instability of fixed exchange rate systems when raising the nominal interest rate is costly, LSE financial markets group Discussion Paper No. 190, July.
4. Bensaid and Jeanne, 1994b, The instability of monetary policy rules, mimeo, CERAS-ENPC, November.
5. Calvo, G., 1988, Servicing the public debt: the role of expectations, American Economic Review, 78 (September).
6. Calvo, G., and P. Guidotti, 1990, Credibility and nominal debt: exploring the role of maturity in managing inflation, IMF Staff Papers, 37 (3) (September).
7. Cukierman, A., M. Kiguel and L. Leiderman, 1994, Choosing the width of exchange rate bands: credibility vs. flexibility, CEPR Discussion Paper No. 809, January.
8. de Kock, G. and V. Grilli, 1993, Fiscal policies and the choice of exchange rate regime, The Economic Journal, 103 (March).
9. Dornbusch, R. and A. Wemer, 1994, Mexico: stabilization, reform and no growth, Brookings Papers in Economic Activity, 1.
10. Drazen, A. and P. Masson, 1994, Credibility of policies versus credibility of policymakers, Quarterly Journal of Economics.
11. Eichengreen, B., A. Rose and C. Wyplosz, 1995, Exchange market mayhem: the antecedents and aftermaths of speculative attacks, Economic Policy, 21.
12. Flood, R.P. and R. Garber, 1984, Collapsing exchange rate regimes: some linear examples, Journal of International Economics, 17, 1-13.
13. Krugman, P., 1979, A model of balance of payments crises, Journal of Money, Credit and Banking.
14. Mendoza, E. and G. Calvo, 1995 Reflections on Mexico's balance of payments crisis: chronicle of a death foretold, Journal of International Economics 41, 235-264.
15. Obstfeld, M., 1986, Rational and self-fulfilling balance of payments crises, American Economic Review.
16. Obstfeld, M., 1991, Destabilizing effects of exchange rate escape clauses, NBER Working Paper No. 3603.
17. Obstfeld, M., 1994, The logic of currency crises, Cahiers Economiques et Monetaires, 43.
18. Obstfeld, M. and K. Rogoff, The mirage of fixed exchange rates, NBER Working Paper No. 5191, July.
19. Ozkan, F.G. and A. Sutherland, 1994, A currency crisis model with an optimizing policymaker, mimeo, University of York, December.
20. Ozkan, F.G. and A. Sutherland, 1995, Policy measures to avoid a currency crisis, The Economic Journal, 105 (March).
21. Rose, A. and L. Svensson, 1994, European exchange rate credibility before the fall, European Economic Review, 38.
22. Sachs, J., A. Tornell and A. Velasco, 1995, The collapse of the Mexican peso: what have we learned? NBER Working Paper 5142, July. Forthcoming in Economic Policy.
23. Svensson, 1993, Fixed exchange rates as a means to price stability: What have we learned?, NBER Working Paper No. 4504, October.
24. Velasco, A., 1995, When are fixed exchange rates really fixed? Paper presented to the 8th NBER Interamerican Seminar, Bogota, Colombia, November.