Müller-Plantenberg, Nikolas A. - In: CESifo economic studies : CESifo, a joint initiative of … 63 (2017) 2, pp. 182-209
According to the most common understanding, currency crises are always and everywhere a monetary phenomenon. Based on a formal theoretical model and ample empirical evidence, this article argues instead that currency crises are always and everywhere about external imbalances. They are usually...
