Erler, Alexander; Bauer, Christian; Herz, Bernhard - In: Journal of International Money and Finance 51 (2015) C, pp. 432-456
In case of speculative attacks, the central banks' decisions to intervene or not to intervene seem to play an important 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....
