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|Title:||Partial delegation in a model of currency crisis|
|Keywords:||Currency crisis; Multiple equilibria; Credibility; Monetary delegation|
|Citation:||Economics and Finance Working papers, Brunel University, 02-07|
|Abstract:||Stressing the inßuence of expected devaluation on currency crises, this paper shows that, in a Þxed exchange-rate system with an escape clause, partial delegation of exchange-rate policy to an inßation-averse central banker reduces the probability of crisis.|
|Appears in Collections:||Economics and Finance|
Dept of Economics and Finance Research Papers
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