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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

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

Signaling in deterministic and stochastic settings

Jeitschko, Thomas D.; Normann, Hans-Theo - 2011

We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With … degree of signaling depends on the prior type distribution. With deterministic signals both pooling and separating … configurations occur. Laboratory data support the theory: In the stochastic variant, there is more signaling behavior than with …

Persistent link: https://www.econbiz.de/10009355251

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

Risk and wealth in a model of self-fulfilling currency attacks

Guimaraes, Bernardo; Morris, Stephen - London School of Economics (LSE) - 2006

Market participants' risk attitudes, wealth and portfolio composition in°uence their positions in a pegged foreign currency and, therefore, may have important e®ects on the sustainability of currency pegs. We analyze such e®ects in a global game model of currency crises with continuous action...

Persistent link: https://www.econbiz.de/10011071518

Coordination Failures and Asset Prices

Tsyvinski, Aleh; Hellwig, Christian; Mukherji, Arihit - Society for Economic Dynamics - SED - 2004

We augment a standard global coordination game along the lines of Morris and Shin (1998) by an asset market where prices are determined in a noisy Rational Expectations Equilibrium. We study the implications of information aggregation through prices for equilibrium selection arguments in global...

Persistent link: https://www.econbiz.de/10005069465

Contagion through learning

Steiner, Jakub; Stewart, Colin - In: Theoretical economics : TE ; an open access journal in … 3 (2008) 4, pp. 431-458

We study learning in a large class of complete information normal form games. Players continually face new strategic situations and must form beliefs by extrapolation from similar past situations. We characterize the long-run outcomes of learning in terms of iterated dominance in a related...

Persistent link: https://www.econbiz.de/10011700119

Coordination and policy traps

Angeletos, Marios (contributor); … - 2003 - [Elektronische Ressource]. - Rev

Persistent link: https://www.econbiz.de/10002114565

Coordination and policy traps

Angeletos, Marios; Hellwig, Christian; Pavan, Alessandro - 2005

Persistent link: https://www.econbiz.de/10002804665

Coordination and policy traps

Angeletos, Marios; Hellwig, Christian; Pavan, Alessandro - 2003

Persistent link: https://www.econbiz.de/10001765364