Paper from the Federal Reserve Bank of St. Louis examines Int’l capital flows in the context of a simple Diamond-Dybvig model in which there are neither moral hazard nor adverse selection problems, thus isolating exchange rate risk as the propagator of capital flows.
Content: Article
Authors: Patricia S. Pollard, Rowena A. Pecchenino
Source: Federal Reserve Bank of St. Louis
Subjects: Economics, International
Authors: Patricia S. Pollard, Rowena A. Pecchenino
Source: Federal Reserve Bank of St. Louis
Subjects: Economics, International
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interesting paper in light of the Asian monetary crises (model attempts to address issue of predicting such problems and thus avoiding them); model is not exactly casual reading however