| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7554 |
| 来源ID | Working Paper 7554 |
| On the Fundamentals of Self-Fulfilling Speculative Attacks | |
| Craig Burnside; Martin Eichenbaum; Sergio T. Rebelo | |
| 发表日期 | 2000-02-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper proposes a theory of twin banking-currency crises in which both fundamentals and self-fulfilling beliefs play crucial roles. Fundamentals determine whether crises will occur. Self-fulfilling beliefs determine when they occur. The fundamental that causes twin crises' is government guarantees to domestic banks' foreign creditors. When these guarantees are in place twin crises inevitably occur, but their timing is a multiple equilibrium phenomenon that depends on agents' beliefs. So while self-fulfilling beliefs have an important role to play, twin crises do not happen just anywhere. They happen in countries where there are fundamental problems - problems such as guarantees to the financial sector. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w7554 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565101 |
| 推荐引用方式 GB/T 7714 | Craig Burnside,Martin Eichenbaum,Sergio T. Rebelo. On the Fundamentals of Self-Fulfilling Speculative Attacks. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7554.pdf（410KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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