Angeletos, George-Marios; Pavan, Alessandro; Hellwig, … - Center for Mathematical Studies in Economics and … - 2007
broader methodological point of the paper: global games can retain significant selection power and deliver useful predictions …This paper studies defense policies in a global-game model of speculative currency attacks. Although the signaling role … sufficiently strong types; and when this happens, weak types are necessarily better off. While these predictions seem reasonable …