Speculative attacks and macroeconomic fundamentals: Evidence from some European currencies

European Economic Review

Volumn 41, Issue 3-5, 1997, Pages 847-860

  Ötker, Inci ^a   Pazarbaşioǧlu, Ceyla ^a  

^a INTERNATIONAL MONETARY FUND   (United States)

Author keywords

Economic fundamentals; ERM; Exchange rates; Speculative attacks

Indexed keywords

ERM; EUROPEAN UNION; EXCHANGE RATE; MACROECONOMIC CHANGE; SPECULATIVE PRESSURE;

EUROPE, WEST;

EID: 0031421566     PISSN: 00142921     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0014-2921(97)00042-1     Document Type: Article

References (17)

1. Agénor, P.R., J.S. Bhandari and R.P. Flood, 1992, Speculative attacks and models of balance of payments crises, International Monetary Fund, Staff papers 39, no. 2, 357-394.
2. Blackburn, K. and M. Sola, 1993, Speculative currency attacks and balance of payments crises, Journal of Economic Surveys 7, no. 2, 119-144.
3. Blanco, H. and P.M. Garber, 1986, Recurrent devaluation and speculative attacks on the Mexican peso, Journal of Political Economy 94, Feb., 148-166.
4. Cumby, R.E. and S. van Wijnbergen, 1989, Financial policy and speculative runs with a crawling peg: Argentina 1979-1981, Journal of International Economics 27, Aug., 111-127.
5. Edin, P.A. and A. Vredin, 1993, Devaluation risk in target zones: Evidence from the Nordic countries, The Economic Journal, no. 103, Jan., 161-175.
6. Eichengreen, B. and Wyplosz, C., 1993, The unstable EMS, Brookings Papers on Economic Activity, no. 1, 51-143.
7. Eichengreen, B., A.K. Rose and C. Wyplosz, 1995, Speculative attacks on pegged exchange rates: An empirical exploration with special reference to the European monetary system, Working paper 95-04 (Federal Reserve Bank of San Francisco, San Francisco, CA).
8. Flood, R.P. and P.M. Garber, 1984, Collapsing exchange rate regimes: Some linear examples, Journal of International Economics 17, Aug., 1-13.
9. Goldberg, L.S., 1991, Collapsing exchange rate regimes: Shocks and biases, Journal of International Money and Finance 10, 252-263.
10. Goldberg, L.S., 1994, Predicting exchange rate crises: Mexico revisited, Journal of International Economics 36, 413-430.
11. Grilli, V., 1990, Managing exchange rate crises: Evidence from the 1890's, Journal of International Money and Finance 9, Sept., 135-182.
12. Krugman, P., 1979, A model of balance of payments crises, Journal of Money, Credit and Banking 11, Aug., 311-325.
13. Obstfeld, M., 1986, Speculative attack and the external constraint in a maximizing model of the balance of payments, Canadian Journal of Economics 19, Mar., 1-22.
14. Obstfeld, M., 1994, The logic of currency crises, Working paper no. 4640 (NBER, Cambridge, MA).
15. Ötker, I. and C. Pazarbaşioǧlu, 1996, Speculative attacks and currency crises: The Mexican experience, Open Economics Review, Special issue: Currency Crises, Vol. 7, Suppl. 1 (Kluwer Academic Publishes, Deventer, The Netherlands).
16. Ungerer, H., J.J. Hauvonen, A. Lopez-Claros and T. Mayer, 1990, The European monetary system: Developments and perspectives, Occasional paper no. 73, Nov. (International Monetary Fund, Washington, DC).
17. Willman, A., 1989, Devaluation expectations and speculative attacks on the currency, Scandinavian Journal of Economics 91, Mar., 97-116.