Construct · 1 fields · 1 citations

self-fulfilling currency crisis: a standalone construct

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International finance

a currency crisis driven by shifting market expectations, where a government defends a peg only if the cost is low, so speculative attacks can justify themselves.

In international finance, self-fulfilling currency crisis refers to a currency crisis driven by shifting market expectations, where a government defends a peg only if the cost is low, so speculative attacks can justify themselves. This meaning comes from Obstfeld (1996) in European Economic Review.[1]

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Nearby constructs

attack4 fields · 10 citationsjingle · one word, four constructs balance-of-payments crisis1 fields · 1 citationsanchor · a standalone construct cost4 fields · 4 citationsjingle · one word, four constructs

References

Obstfeld, M. (1996). Models of currency crises with self-fulfilling features. European Economic Review, 40(3-5), 1037-1047. https://doi.org/10.1016/0014-2921(95)00111-5

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