Erler, Alexander; Bauer, Christian; Herz, Bernhard - In: Journal of International Money and Finance 51 (2015) C, pp. 432-456
role for the economic costs of currency crises. The central bank can either abstain from intervening or start an … intervention, which in turn can be successful or unsuccessful. Therefore, an adequate analysis of the costs of currency crises has … to take into account three different types of currency crises: (i) an immediate depreciation without any central bank …