The discomfort a government suffers from speculation against its currency determines the strategic incentives of … speculators and the scope for multiple currency-market equilibria. After describing an illustrative model in which high …

We consider a dynamic stochastic model of currency attacks, characterised by imperfect information about the … equilibrium expectations may be either ‘optimistic’ or ‘pessimistic’. Optimistic (pessimistic) expectations involve a currency … decide upon next period wage having observed whether the current period currency attack has been successful or not. This …

alleged inflationary effects of the new currency. In Italy, as in the rest of the euro area, survey-based measures signaled a …

This paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U …

This Paper characterizes the integration patterns of international currency unions (such as the CFA Franc zone and the … East Caribbean Currency Area). We empirically explore different features of currency unions, and compare them both to … countries with sovereign monies, and to regions within nations. We ask: are countries within international currency unions as …

, domestic-currency bond market. Bond holders suffer from inflation and could be a potent anti-inflationary force; I ask whether …

through both productive effort and costly manipulation, and may undo the contract by privately saving. The optimal contract …

the world copper market, from at least 1991 until earlier this year. This manipulation has concentrated attention on the … manipulation is not illegal under UK financial services regulation, but that in any case, deterrence is better than prosecution …. Manipulation will be best deterred by greater transparency, in particular through mandatory reporting of client positions to …