De Grauwe, Paul; Grimaldi, Marianna - In: EIB Papers 7 (2002) 2, pp. 33-48
The financial crises of the 1990s have created the perception that one of the fundamental reasons for the occurrence of such crises is to be found in the fact that exchange rates were pegged for too long. These pegged exchange rates inevitably invited speculative attacks in the foreign exchange...
