Learning, Large Deviations, and Recurrent Currency Crises.
This article studies a version of Obstfeld's (Journal of International Economics 43 (1997), 61-77) “escape clause” model. The model is calibrated to produce three rational expectations equilibria. Two of these equilibria are E-stable and one is unstable. Dynamics are introduced by assuming that agen...
| Publicado en: | International Economic Review Vol. 45; no. 1; pp. 141 - 174 |
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| Formato: | Artículo |
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Wiley-Blackwell
February 2004
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| Acceso en línea: | Ver este registro en EBSCOhost |