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 R. (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 1998
Series:IMF Working Papers Working Paper No. 98/142
Online Access:UBW01
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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:1 Online-Ressource (32 p)
ISBN:1451856229
9781451856224

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