Kaminsky, Graciela L. - In: Annals of Economics and Finance 14 (2013) 3, pp. 949-976
The plethora of currency crises around the world has fueled many theories on the causes of speculative attacks. The first-generation models focus on fiscal problems. The second-generation models emphasize countercyclical policies and self-fulfilling crises. In the 1990s, models pinpoint to...