Unique equilibrium in a dynamic model of crises with frictions

This paper studies a dynamic model of crises with timing frictions that combines the mainaspects of Morris and Shin (1998) and Frankel and Pauzner (2000). The usual arguments forexistence and uniqueness of equilibrium cannot be applied. It is shown that the model has aunique equilibrium within the class of threshold equilibria.[...]

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Year of publication:	2005-08-01
Authors:	Guimarães, Bernardo
Institutions:	London School of Economics and Political Science
Subject:	Strategie \| Gleichgewicht \| Dynamik \| dynamics \| Krise \| crisis \| Währungskrise

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Extent:	302080 bytes 17 p. application/pdf
Series:	London School of Economics and Political Science - Publications
Type of publication:	Book / Working Paper
Language:	English
Classification:	D8 - Information and Uncertainty ; F3 - International Finance ; Specific management methods ; Financial theory ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10008911498