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Contagion Monsoonal Effects, Spillovers, and Jumps Between Multiple Equilibria

Several concepts of contagion are distinguished. It is argued that only models that admit of multiple equilibria are capable of producing true contagion. A simple balance of payments model is presented to illustrate that phenomenon, and some back-of-the-envelope calculations assess its relevance to...

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Bibliographic Details
Main Author: Masson, Paul
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1998
Series:IMF Working Papers
Subjects:
Government And The Monetary System
Payment Systems
Balance Of Trade
Finance
Regimes
Monetary Economics
Trade Balance
Currency
Exports And Imports
General Financial Markets: General (includes Measurement And Data)
International Lending And Debt Problems
International Economics
External Debt
Debts, External
Money
Foreign Exchange
Standards
Financial Markets
International Trade
Emerging And Frontier Financial Markets
Currencies
Monetary Systems
Financial Services Industry
Empirical Studies Of Trade
Exchange Rates
Money And Monetary Policy
Finance: General
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Several concepts of contagion are distinguished. It is argued that only models that admit of multiple equilibria are capable of producing true contagion. A simple balance of payments model is presented to illustrate that phenomenon, and some back-of-the-envelope calculations assess its relevance to the coincidence of emerging market crises in 1994–95 and in 1997
Physical Description:32 pages
ISBN:9781451856224

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