Models of Currency Crises with Self-Fulfilling Features

  title={Models of Currency Crises with Self-Fulfilling Features},
  author={Maurice Obstfeld},
Models of currency crises with self-fulfilling features: A comment
Much attention has been paid to models of currency crisis with self-fulfilling features and the concept of multiple equilibria developed in the 1990s. They aim at explaining currency crisis without
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Realignment expectations which measure exchange rate credibility are analyzed for European exchange rates, using daily financial data since the inception of the EMS. It is difficult to find