Series: IMF Working Papers
Author(s): Robert Flood , Jagdeep Bhandari , and Pierre-Richard Agénor
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 1991
Keywords: exchange rate, domestic credit, speculative attack, real exchange rate, fixed exchange rate, Speculative Attacks,
This paper reviews recent developments in the theoretical and empirical analysis of balance-of-payments crises. A simple analytical model highlighting the process leading to such crises is first developed. The basi...