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Coordination and policy traps
Angeletos, Marios (contributor);  … - 2005
expectations. -- global games ; complementarities ; signaling ; self-fulfilling expectations ; multiple equilibria ; currency …
Persistent link: https://www.econbiz.de/10003779286
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Central Bank and Government in a Speculative Attack Model
Cappelletti, Giuseppe - 2013
This paper studies the interaction between monetary and fiscal authorities while investors are coordinating on a speculative attack. The authorities want to achieve specific targets for output and inflation but also to avoid a regime change (i.e. sovereign default). They use the traditional...
Persistent link: https://www.econbiz.de/10013072609
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Dynamic global games of regime change : learning, multiplicity, and timing of attacks
Angeletos, Marios; Hellwig, Christian; Pavan, Alessandro - 2006
Global games of regime change – coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it – have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We extend...
Persistent link: https://www.econbiz.de/10008665284
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Transparency of Information and Coordination in Economies with Investment Complementarities
Angeletos, George-Marios; Pavan, Alessandro - 2010
How does public and private information affect equilibrium and welfare in an economy with investment complementarities … complementarities are weak so that the equilibrium is always unique, an increase in the precision of public information increases the … from a social perspective. On the other hand, when complementarities are strong enough that multiple equilibria are …
Persistent link: https://www.econbiz.de/10014073397
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Prospects of Tools from Differential Games in the Study of Macroeconomics of Climate Change
Engwerda, Jacob C. - 2012
In this note we sketch a dynamic framework within which the discussion on the macroeconomic effects of climate change take place. The problem setting is characterized by scientific uncertainties about the development of climate, potential large economic losses and human beings having their...
Persistent link: https://www.econbiz.de/10014168816
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International Finance in General Equilibrium
Geanakoplos, John; Tsomocos, Dimitrios P. - 2005
Our purpose in this paper is to unify international trade and finance in a single general equilibrium model. Our model is rich enough to include multiple commodities (including traded and nontraded goods), heterogeneous consumers in each country, multiple time periods, multiple credit markets,...
Persistent link: https://www.econbiz.de/10014126876
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A Product that Can Save a System : Public Capitalization Notes
Papazian, Armen - 2014
The world's major money printers are in trouble. The debt-based monetary architecture is going through serious stress. The recent banking and sovereign debt crises are systemic symptoms indicating an upcoming and unavoidable change in money creation methodology. This paper addresses the key...
Persistent link: https://www.econbiz.de/10013059812
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Signaling Versus Commitment Strengthening : Exchange Rate Insurance Against Currency Attacks
Chiu, Y. Stephen - 2022
commitment to peg is strengthened. That the insurance scheme serves as a commitment device renders it an ineffective signaling …
Persistent link: https://www.econbiz.de/10013291933
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Exchange rates and monetary spillovers
Plantin, Guillaume; Shin, Hyun Song - In: Theoretical economics : TE ; an open access journal in … 13 (2018) 2, pp. 637-666
When do flexible exchange rates prevent monetary and financial conditions from spilling over across currencies? We examine a model in which international investors strategically supply capital to a small inflation-targeting economy with flexible exchange rates. For some combination of...
Persistent link: https://www.econbiz.de/10011856706
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Coordination and policy traps
Angeletos, Marios (contributor);  … - 2003 - [Elektronische Ressource]. - Rev
Persistent link: https://www.econbiz.de/10002114565