| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2047 |
| DP2047 Portuguese Migrants in the German Labour Market: Performance and Self-Selection | |
| Klaus F. Zimmermann; Pedro Telhado Pereira; Thomas Bauer; Michael Vogler | |
| 发表日期 | 1998-12-18 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | The swiftness and devastating impact of recent financial crises have taken many market participants by surprise and pose challenges for economists seeking a theory of the onset of a crisis. We propose such a theory based on two features. The actions of diverse economic actors which undermine the currency are mutually reinforcing, while the fragmented nature of the media create small disparities in their information. In such circumstances, the beliefs of market participants can be tracked in the same way as the economic fundamentals and an attack is triggered when the economic fundamentals deteriorate sufficiently to fall below the minimum level of market confidence necessary to support the currency. We give a characterization of such a minimum level of confidence. |
| 主题 | Financial Economics |
| 关键词 | Common knowledge Currency crisis |
| URL | https://cepr.org/publications/dp2047 |
| 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/531172 |
| 推荐引用方式 GB/T 7714 | Klaus F. Zimmermann,Pedro Telhado Pereira,Thomas Bauer,et al. DP2047 Portuguese Migrants in the German Labour Market: Performance and Self-Selection. 1998. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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