EBOOK Macroeconomic Theory of Exchange Rate Crises

This book deals with the genesis and dynamics of exchange rate crises in fixed or        managed exchange rate systems. It provides a comprehensive treatment of the existing        theories of exchange rate crises and of financial market runs. It aims to provide a        survey of both the theoretical literature on international financial crises and a        systematic treatment of the analytical models. It analyzes a series of macroeconomic        models and demonstrates their properties and conclusions, includingcomparative        statics and dynamic behaviour. The models cover the range of phenomena exhibited in        modern crises experienced in countries with fixed or managed exchange rate systems.          Among the topics covered, beyond currency sustainability, are bank runs, the        interaction between bank solvency andcurrency stability, capital flows and borrowing        constraints, uncertainty about government policies, asymmetric information and        herding behaviour, contagion across markets and countries, financial markets and        asset price bubbles, strategic interaction among agents and equilibrium selection,        the dynamics of speculative attacks and of financial crashes in international        capital markets. The book is intended for econometricians, academics, policymakers        and specialists in the field, and postgraduatestudents in economics.