A Model of the Interactions between Banking Crises and Currency Crises
A second-generation model of currency crises is combined with a standard banking model. In a pegged exchange rate regime, after funds have been committed to the banks, news arrives about the quality of the banks' assets and about the exchange rate fundamentals. A run on the banks may cause a currency crisis, or vice versa. There are multiple equilibria (with either twin crises or no crisis), depending on depositors' expectations of other depositors' actions. Suspension of deposit convertibility can prevent a speculative attack on the currency, but last resort lending to solvent banks can induce one.
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| Main Authors: | , , |
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| Format: | Journal Article biblioteca |
| Language: | EN |
| Published: |
2008
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| Subjects: | Foreign Exchange F310, International Monetary Arrangements and Institutions F330, Banks, Other Depository Institutions, Micro Finance Institutions, Mortgages G210, |
| Online Access: | http://hdl.handle.net/10986/5425 |
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dig-okr-1098654252021-04-23T14:02:22Z A Model of the Interactions between Banking Crises and Currency Crises Bleaney, Michael Bougheas, Spiros Skamnelos, Ilias Foreign Exchange F310 International Monetary Arrangements and Institutions F330 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 A second-generation model of currency crises is combined with a standard banking model. In a pegged exchange rate regime, after funds have been committed to the banks, news arrives about the quality of the banks' assets and about the exchange rate fundamentals. A run on the banks may cause a currency crisis, or vice versa. There are multiple equilibria (with either twin crises or no crisis), depending on depositors' expectations of other depositors' actions. Suspension of deposit convertibility can prevent a speculative attack on the currency, but last resort lending to solvent banks can induce one. 2012-03-30T07:32:46Z 2012-03-30T07:32:46Z 2008 Journal Article Journal of International Money and Finance 02615606 http://hdl.handle.net/10986/5425 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article |
| institution |
Banco Mundial |
| collection |
DSpace |
| country |
Estados Unidos |
| countrycode |
US |
| component |
Bibliográfico |
| access |
En linea |
| databasecode |
dig-okr |
| tag |
biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
EN |
| topic |
Foreign Exchange F310 International Monetary Arrangements and Institutions F330 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 Foreign Exchange F310 International Monetary Arrangements and Institutions F330 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 |
| spellingShingle |
Foreign Exchange F310 International Monetary Arrangements and Institutions F330 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 Foreign Exchange F310 International Monetary Arrangements and Institutions F330 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 Bleaney, Michael Bougheas, Spiros Skamnelos, Ilias A Model of the Interactions between Banking Crises and Currency Crises |
| description |
A second-generation model of currency crises is combined with a standard banking model. In a pegged exchange rate regime, after funds have been committed to the banks, news arrives about the quality of the banks' assets and about the exchange rate fundamentals. A run on the banks may cause a currency crisis, or vice versa. There are multiple equilibria (with either twin crises or no crisis), depending on depositors' expectations of other depositors' actions. Suspension of deposit convertibility can prevent a speculative attack on the currency, but last resort lending to solvent banks can induce one. |
| format |
Journal Article |
| topic_facet |
Foreign Exchange F310 International Monetary Arrangements and Institutions F330 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 |
| author |
Bleaney, Michael Bougheas, Spiros Skamnelos, Ilias |
| author_facet |
Bleaney, Michael Bougheas, Spiros Skamnelos, Ilias |
| author_sort |
Bleaney, Michael |
| title |
A Model of the Interactions between Banking Crises and Currency Crises |
| title_short |
A Model of the Interactions between Banking Crises and Currency Crises |
| title_full |
A Model of the Interactions between Banking Crises and Currency Crises |
| title_fullStr |
A Model of the Interactions between Banking Crises and Currency Crises |
| title_full_unstemmed |
A Model of the Interactions between Banking Crises and Currency Crises |
| title_sort |
model of the interactions between banking crises and currency crises |
| publishDate |
2008 |
| url |
http://hdl.handle.net/10986/5425 |
| work_keys_str_mv |
AT bleaneymichael amodeloftheinteractionsbetweenbankingcrisesandcurrencycrises AT bougheasspiros amodeloftheinteractionsbetweenbankingcrisesandcurrencycrises AT skamnelosilias amodeloftheinteractionsbetweenbankingcrisesandcurrencycrises AT bleaneymichael modeloftheinteractionsbetweenbankingcrisesandcurrencycrises AT bougheasspiros modeloftheinteractionsbetweenbankingcrisesandcurrencycrises AT skamnelosilias modeloftheinteractionsbetweenbankingcrisesandcurrencycrises |
| _version_ |
1756571618445885440 |