Corsetti, Giancarlo; Dasgupta, Amil; Morris, Stephen; … - In: Review of Economic Studies 71 (2004) 1, pp. 87-113
Do large investors increase the vulnerability of a country to speculative attacks in the foreign exchange markets? To address this issue, we build a model of currency crises where a single large investor and a continuum of small investors independently decide whether to attack a currency based...