| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1713 |
| DP1713 The Reallocation of Labour and the Lifecycle of Firms | |
| Simon Burgess; Julia Lane; David Stevens | |
| 发表日期 | 1997-10-31 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | Even though self-fulfilling currency attacks lead to multiple equilibria when fundamentals are common knowledge, we demonstrate the uniqueness of equilibrium when speculators face a small amount of noise on their signals about the fundamentals. This unique equilibrium depends not only on the fundamentals, but also on financial variables such as the quantity of hot money in circulation and the costs of speculative trading. In contrast to multiple equilibrium models, our model allows analysis of policy proposals directed at curtailing currency attacks. |
| 主题 | Financial Economics |
| 关键词 | Common knowledge Currency crisis |
| URL | https://cepr.org/publications/dp1713 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530856 |
| 推荐引用方式 GB/T 7714 | Simon Burgess,Julia Lane,David Stevens. DP1713 The Reallocation of Labour and the Lifecycle of Firms. 1997. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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