Currency Crises

by Paul Krugman (Editor)

There is no universally accepted definition of a currency crisis, but most would agree that they all involve one key investors fleeing a currency en masse out of fear that it might be devalued, in turn fueling the very devaluation they anticipated. Although such crises—the Latin American debt crisis of the 1980s, the speculations on European currencies in the early 1990s, and the ensuing Mexican, South American, and Asian crises—have played a central role in world affairs and continue to occur at an alarming rate, many questions about their causes and effects remain to be answered. In this wide-ranging volume, some of the best minds in economics focus on the historical and theoretical aspects of currency crises to investigate three fundamental What drives currency crises? How should government behavior be modeled? And what are the actual consequences to the real economy?

Reflecting the latest thinking on the subject, this offering from the NBER will serve as a useful basis for further debate on the theory and practice of speculative attacks, as well as a valuable resource as new crises loom.

Genres: Economics

356 pages, Hardcover

First published January 1, 1992

About the author

Paul Robin Krugman is an American economist, liberal columnist and author. He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs, Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography.

Reviews

[Diego · Rating 4 out of 5]

un gran clásico del estudio de crisis financieras y monetarias, presenta distintas teorías de los ataques especulativos de primera y segunda generación así como distintas opiniones de las crisis asiática de 1997, mexicana de 1994, europea de 1992 entre otras.

Muy recomendado para aquellos interesados en Macroeconomía y en particular política monetaria.