Goldstein, Itay (contributor); Pauzner, Ady (contributor) - 2001 - [Elektronische Ressource]
. Each might be subject to a self-fulfilling crisis,
induced by agents withdrawing their investments in the fear that others … investors may generate a contagion of crises. The realization of a crisis in one
country reduces agents’ wealth and thus makes … agents. Consequently, the probability of a crisis in the second
country rises. This yields a positive correlation between the …