An amalgamation of standard speculative attack models is applied to Mexican exchange rate regimes over the past twenty years. The paper develops the first simultaneous (non-iterative) estimator for speculative attack models. Particular attention is paid to the December 1994 devaluation of the...

This paper uses a new data set, based on Reuters news articles, to capture intervention that is perceived by FX traders and probability density functions (PDFs) estimated from option data to describe market expectations. We find that, between September 1993 and April 1996, traders viewed the...

This paper reviews analytical work carried out by central banks that participated in the Autumn Meeting of Central Bank Economists on The evolving inflation process which the BIS hosted on 28-29 October 2005. The paper first discusses efforts to document the univariate statistical properties of...