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Rational and Self-Fulfilling Balance-of-Payments Crises

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NBER1984-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1486
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The recent balance-of-payments literature shows that-speculative attacks on a pegged exchange rate must sometimes-occur if the path of the rate is riot to offer abnormal profit opportunities. Such attacks are fully rational, as they reflect the market's response to a regime breakdown that is
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1984-11-01
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