UTL Repository >
ISEG - Instituto Superior de Economia e Gestão / ISEG - School of Economics & Management Lisbon >
CISEP - Centro de Investigação sobre Economia Portuguesa / CISEP - Research Centre About the Portuguese Economy >
CISEP - Documentos de Trabalho / CISEP - Working Papers >

Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/546

Title: Exchange rate market tensions in a small open economy during the transition to EMU : can Asian countries learn from the Portuguese experience in 1992-1995?
Authors: Abreu, Margarida
Keywords: Exchange rate policy
Exchange rate crisis
Uncertainty
Financial market agent's behavior
Issue Date: 1999
Publisher: ISEG-CISEP
Citation: Abreu, Margarida. 1999. "Exchange rate market tensions in a small open economy during the transition to EMU : can Asian countries learn from the Portuguese experience in 1992-1995?". ISEG-CISEP Working papers 7-1999
Series/Report no.: Working papers;7/1999/DE/CISEP
Abstract: This paper studies the various Portuguese escudo exchange rate crises during the period 1992-95. Were they the result of the market evaluation of the Portuguese economy fundamentals? Were they the outcome of the expected political changes? Or, to the contrary, can we suggest self-fulfilling crises? After a general introduction, the paper starts with an estimation of the exchange rate policy credibility a la Svensson and a brief description of the escudo exchange rate crises. The paper then presents different theoretical explaination for speculative attacks, paying special attention to the new formalizations of the behavior of market agents. We conclude with some normative remarks concerning the Portuguese exchange rate crises, and some lessons that Asian countries can learn from the Portuguese experience.
URI: http://hdl.handle.net/10400.5/546
ISSN: 0874-4548
Appears in Collections:CISEP - Documentos de Trabalho / CISEP - Working Papers
DE - Documentos de trabalho / Working Papers

Files in This Item:

File Description SizeFormat
ma7-1999.pdf913.07 kBAdobe PDFView/Open
Statistics
FacebookTwitterDeliciousLinkedInDiggGoogle BookmarksMySpaceOrkut
Formato BibTex mendeley Endnote Logotipo do DeGóis 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

 

 
Estamos no RCAAP Governo Português separator Ministério da Educação e Ciência   Fundação para a Ciência e a Tecnologia

Financiado por:

POS_C UE