Morris and Shin (1998) introduce the global game into the self-fulfilling currency crisis model and show that an informational event would be a trigger for a currency crisis. However, there is no government’s objective explicitly specified in the model. We consider the macroeconomic market to specify the government’s objective in the global game model of currency crisis and use the specific government’s objective to obtain the range of the true fundamentals under which a government should adopt a transparent policy. We have shown that an informational event may trigger a currency crisis, and a government will prevent a currency crisis by adopting a transparent policy when the cost of the transparent policy is small enough
Market participants' risk attitudes, wealth and portfolio composition in°uence their positions in a ...
This paper examines how the transparency in monetary policy decision can impact the likelihood of cu...
We present a micro-founded model where governments have an incentive to devalue to increase the nati...
This paper extends the work by Morris and Shin (Am. Econom. Rev. 88 (1998) 587-597) where multiple e...
While virtually all currency crisis models recognise that the decision to abandon a peg depends on h...
We uncover a novel interaction between strategic uncertainty in coordination games of incomplete inf...
While virtually all currency crisismodels recognise that the fate of a currency peg depends on how t...
This paper derives novel policy insights by extending a standard global games model of currency cris...
We consider a stylized currency crises model with heterogeneous information among in-vestors, with e...
We introduce endogenous price formation into the theoretical global games model of currency crises, ...
This dissertation consists of three chapters. Chapter 1, "Precision of Communication in Coordi...
In this dissertation, I theoretically investigate how the actions of central banks affect the inform...
In this paper we develop a dynamic game of incomplete information to understand the allocative and w...
We argue that recent currency crises reflect clashes between fundamentals and pegged exchange rates,...
The 2007-2008 financial crisis caused not only a dramatic fall in global output and employment but a...
Market participants' risk attitudes, wealth and portfolio composition in°uence their positions in a ...
This paper examines how the transparency in monetary policy decision can impact the likelihood of cu...
We present a micro-founded model where governments have an incentive to devalue to increase the nati...
This paper extends the work by Morris and Shin (Am. Econom. Rev. 88 (1998) 587-597) where multiple e...
While virtually all currency crisis models recognise that the decision to abandon a peg depends on h...
We uncover a novel interaction between strategic uncertainty in coordination games of incomplete inf...
While virtually all currency crisismodels recognise that the fate of a currency peg depends on how t...
This paper derives novel policy insights by extending a standard global games model of currency cris...
We consider a stylized currency crises model with heterogeneous information among in-vestors, with e...
We introduce endogenous price formation into the theoretical global games model of currency crises, ...
This dissertation consists of three chapters. Chapter 1, "Precision of Communication in Coordi...
In this dissertation, I theoretically investigate how the actions of central banks affect the inform...
In this paper we develop a dynamic game of incomplete information to understand the allocative and w...
We argue that recent currency crises reflect clashes between fundamentals and pegged exchange rates,...
The 2007-2008 financial crisis caused not only a dramatic fall in global output and employment but a...
Market participants' risk attitudes, wealth and portfolio composition in°uence their positions in a ...
This paper examines how the transparency in monetary policy decision can impact the likelihood of cu...
We present a micro-founded model where governments have an incentive to devalue to increase the nati...