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While virtually all currency crisismodels recognise that the fate of a currency peg depends on how tenaciously policy makers defend it, they seldom model how this is done. We incorporate themechanics of speculation and the interest rate defence against it in the model ofMorris and Shin (American...
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While virtually all modern models of exchange rate crises recognise that the decision to abandon an exchange rate peg depends on how harshly policy makers are willing to defend the regime, they virtually never model how the exchange rate is defended. In this paper we incorporate both the...
Persistent link: https://www.econbiz.de/10010326005
While virtually all currency crisismodels recognise that the fate of a currency peg depends on how tenaciously policy makers defend it, they seldom model how this is done. We incorporate themechanics of speculation and the interest rate defence against it in the model ofMorris and Shin (American...
Persistent link: https://www.econbiz.de/10010272306
We study a unique Chinese dataset of equity analysts' on-site visits to publicly listed companies. We find that analyst silence (no release of report from visit date to the next quarterly earnings announcement) contains information that negatively impacts both stock returns and earnings...
Persistent link: https://www.econbiz.de/10012916676
economically realistic models have led to the application of various forms of economic discounting to the contested resource. This … paper investigates the application of a two-parameter economic discounting method, called generalized hyperbolic discounting …, and characterizes the game’s Nash equilibrium conditions. We prove that for agents discounting such that accumulated value …
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