Mackowiak, Bartosz - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2006
, policy regime switch,
currency crisis, speculative attack, fiscal theory of the price level.
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I thank for comments Chris …
models in which macroeconomic policy regime evolves according to a Markov process.
2
In
their work the probability of a … rate fixed become too large, the policy regime changes. The regime
switch is preceded by a speculative attack, or by …