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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/152

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contributor.authorMarini, Giancarlo-
contributor.authorPiersanti, Giovanni-
date.accessioned2005-11-29T13:00:44Z-
date.available2005-11-29T13:00:44Z-
date.issued2001-03-
identifier.urihttp://hdl.handle.net/2108/152-
description.abstractThis paper investigates currency and financial crises in an optimizing general equilibrium model. It is shown that a rise in current and expected future budget deficits generates a real exchange rate appreciation and a decumulation of external assets, leading up to a currency crisis when foreign reserves approximate a critical level. Strong empirical support for our model is obtained by a probit estimation of financial crises for ten Latin American and Asian countries.en
format.extent95937 bytes-
format.mimetypeapplication/pdf-
language.isoenen
publisherCEISen
relation.ispartofseriesQuaderni CEIS; 140-
subject.classificationSECS-P/01; Economia politicaen
titleFiscal deficits and currency crisesen
typeArticleen
subject.jelF31; Foreign exchangeen
subject.jelF32; Current account adjustment, short-term capital movementsen
subject.jelF41; Open economy macroeconomicsen
subject.jelE52; Monetary policy (targets, instruments, and effects)en
subject.jelE62; Fiscal policy; public expenditures, investment, and finance, taxationen
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