Coverart for item
The Resource Financial markets and European monetary cooperation : the lessons of the 1992-93 exchange rate mechanism crisis, Willem H. Buiter, Giancarlo Corsetti, Paolo A. Pesenti, (electronic resource)

Financial markets and European monetary cooperation : the lessons of the 1992-93 exchange rate mechanism crisis, Willem H. Buiter, Giancarlo Corsetti, Paolo A. Pesenti, (electronic resource)

Label
Financial markets and European monetary cooperation : the lessons of the 1992-93 exchange rate mechanism crisis
Title
Financial markets and European monetary cooperation
Title remainder
the lessons of the 1992-93 exchange rate mechanism crisis
Statement of responsibility
Willem H. Buiter, Giancarlo Corsetti, Paolo A. Pesenti
Title variation
Financial Markets & European Monetary Cooperation
Creator
Contributor
Author
Subject
Language
eng
Summary
A blend of theoretical and policy-oriented analysis, this book provides a comprehensive assessment of the causes and implications of the 1992–3 crisis of the exchange rate mechanism of the European monetary system. Cogent factual presentation - including new details on the crisis - original theoretical analysis, and an interpretation rooted in the theory, make this treatment essential reading to understand the process toward economic and political integration in Europe. The authors first sketch the history of monetary cooperation in Europe from Bretton Woods to Maastricht. A step-by-step account of the 1992–3 events follows, including a discussion of the extent to which financial markets anticipated the crisis. A survey of the literature on the subject introduces the authors' center-periphery model of currency crisis. The authors argue that the vulnerability of Europe to financial crisis was - and still is - the result of the lack of concern with the systemic dimensions of monetary policy-making.--
Member of
Assigning source
Provided by publisher
Cataloging source
UkCbUP
http://library.link/vocab/creatorDate
1949-
http://library.link/vocab/creatorName
Buiter, Willem H.
Index
index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Corsetti, Giancarlo
  • Pesenti, Paolo A.
Series statement
  • Japan-U.S. Center UFJ Bank monographs on international financial markets
  • Cambridge Social Sciences eBooks
http://library.link/vocab/subjectName
  • European Monetary System (Organization)
  • Foreign exchange rates
  • International finance
  • Monetary policy
Label
Financial markets and European monetary cooperation : the lessons of the 1992-93 exchange rate mechanism crisis, Willem H. Buiter, Giancarlo Corsetti, Paolo A. Pesenti, (electronic resource)
Link
http://ezproxy.eui.eu/login?url=https://doi.org/10.1017/CBO9780511600937
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • 1.3.
  • Escape clauses and financial stability.
  • 1.4.
  • The debate on the ERM crisis.
  • 1.5.
  • Understanding the crisis: The missing elements.
  • 1.6.
  • Lessons for the future
  • 2.
  • Exchange rate stability in Europe: A historical perspective.
  • Forewords
  • 2.1.
  • From Bretton Woods to the Treaty of Maastricht.
  • 2.2.
  • The Treaty of Maastricht
  • 3.
  • The unfolding of the 1992 93 ERM crisis.
  • 3.1.
  • Toward the crisis.
  • 3.2.
  • A chronology of the ERM crack up
  • Kenji Kawakatsu and Helmut Schlesinger
  • 4.
  • Financial markets and ERM credibility.
  • 4.1.
  • Capital market liberalization and "convergence plays"
  • 4.2.
  • Defining and measuring ERM credibility.
  • 4.3.
  • Exchange rate expectations before the crisis
  • 5.
  • Modelling currency crises.
  • 1.
  • 5.1.
  • Exchange rate crises and speculative attacks.
  • 5.2.
  • Fundamental models of the ERM crisis
  • 6.
  • A Center Periphery model.
  • 6.1.
  • Introduction.
  • 6.2.
  • The Center country.
  • Introduction.
  • 6.3.
  • The Periphery countries.
  • 6.4.
  • The objective function of the Center.
  • 6.5.
  • The objective function of the Periphery.
  • 6.6.
  • The semireduced form of the model
  • 7.
  • Unilateral pegs and escape clauses: The role of domestic credibility.
  • 1.1.
  • 7.1.
  • Exchange rate crises as equilibrium outcomes.
  • 7.2.
  • Imperfect commitment and expectations formation.
  • 7.3.
  • Multiple equilibria, self fulfilling expectations, and the ERM crisis.
  • 7.4.
  • Open issues in the "self fulfilling" vs. "fundamental" debate.
  • 7.5.
  • Revisiting theories based on domestic fundamentals.
  • The roots of the European consensus on limiting exchange rate flexibility.
  • 7.6.
  • A summary
  • 8.
  • Policy coordination and currency crises.
  • 8.1.
  • Introduction.
  • 8.2.
  • Noncooperative equilibrium.
  • 8.3.
  • Cooperatio
  • 1.2.
  • The ERM and the logic of nominal anchors.
Control code
CR9780511600937
Dimensions
unknown
Extent
1 online resource (xii, 223 pages)
Form of item
online
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9780521495479
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
digital, PDF file(s).
Specific material designation
remote
System control number
(OCoLC)715156469
Label
Financial markets and European monetary cooperation : the lessons of the 1992-93 exchange rate mechanism crisis, Willem H. Buiter, Giancarlo Corsetti, Paolo A. Pesenti, (electronic resource)
Link
http://ezproxy.eui.eu/login?url=https://doi.org/10.1017/CBO9780511600937
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • 1.3.
  • Escape clauses and financial stability.
  • 1.4.
  • The debate on the ERM crisis.
  • 1.5.
  • Understanding the crisis: The missing elements.
  • 1.6.
  • Lessons for the future
  • 2.
  • Exchange rate stability in Europe: A historical perspective.
  • Forewords
  • 2.1.
  • From Bretton Woods to the Treaty of Maastricht.
  • 2.2.
  • The Treaty of Maastricht
  • 3.
  • The unfolding of the 1992 93 ERM crisis.
  • 3.1.
  • Toward the crisis.
  • 3.2.
  • A chronology of the ERM crack up
  • Kenji Kawakatsu and Helmut Schlesinger
  • 4.
  • Financial markets and ERM credibility.
  • 4.1.
  • Capital market liberalization and "convergence plays"
  • 4.2.
  • Defining and measuring ERM credibility.
  • 4.3.
  • Exchange rate expectations before the crisis
  • 5.
  • Modelling currency crises.
  • 1.
  • 5.1.
  • Exchange rate crises and speculative attacks.
  • 5.2.
  • Fundamental models of the ERM crisis
  • 6.
  • A Center Periphery model.
  • 6.1.
  • Introduction.
  • 6.2.
  • The Center country.
  • Introduction.
  • 6.3.
  • The Periphery countries.
  • 6.4.
  • The objective function of the Center.
  • 6.5.
  • The objective function of the Periphery.
  • 6.6.
  • The semireduced form of the model
  • 7.
  • Unilateral pegs and escape clauses: The role of domestic credibility.
  • 1.1.
  • 7.1.
  • Exchange rate crises as equilibrium outcomes.
  • 7.2.
  • Imperfect commitment and expectations formation.
  • 7.3.
  • Multiple equilibria, self fulfilling expectations, and the ERM crisis.
  • 7.4.
  • Open issues in the "self fulfilling" vs. "fundamental" debate.
  • 7.5.
  • Revisiting theories based on domestic fundamentals.
  • The roots of the European consensus on limiting exchange rate flexibility.
  • 7.6.
  • A summary
  • 8.
  • Policy coordination and currency crises.
  • 8.1.
  • Introduction.
  • 8.2.
  • Noncooperative equilibrium.
  • 8.3.
  • Cooperatio
  • 1.2.
  • The ERM and the logic of nominal anchors.
Control code
CR9780511600937
Dimensions
unknown
Extent
1 online resource (xii, 223 pages)
Form of item
online
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9780521495479
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
digital, PDF file(s).
Specific material designation
remote
System control number
(OCoLC)715156469

Library Locations

    • Badia FiesolanaBorrow it
      Via dei Roccettini 9, San Domenico di Fiesole, 50014, IT
      43.803074 11.283055
Processing Feedback ...