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Volume 52, Issue 11


Druhá generace modelů měnových krizí: varování pro kandidáty členství v eurozóně

Čermák, Jan

Year: 2002   Volume: 52   Issue: 11   Pages: 603-605

Abstract: This paper presents a short survey of second-generation models of currency crisis. These models, which are based on the Barro-Gordon inconsistency setting, suggest that an open economy facing macroeconomic or political constraints could find itself vulnerable to a speculative currency attack. Second-generation currency-crisis theories have implications for EMU enlargement, particularly for candidate candidates with weak fundamentals, because in joining the ERM policymakers in these countries would forfeit their key monetary-policy instrument – the exchange rate.

JEL classification: F31, F41

Keywords: měnová krize – spekulativní útok – rozšiřování eurozóny


RePEc: n/a

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