Why Clashes Between Internal and External Stability Goals End in Currency Crises, 1797-1994
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We argue that recent currency crises reflect clashes between fundamentals and pegged exchange rates, just as did crises in the past. We reject the view that crises reflect self-fulfilling prophecies that are not closely related to measured fundamentals. Doubts about the timing of a market attack on
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美国国家经济研究局创建时间:
1996-08-01



