Currency crashes in industrial countries
Subtitle: much ado about nothing?
By: Joseph E. Gagnon.
Series: International finance discussion papers -- no. 966; International finance discussion papers (Online) -- no. 966.
Publisher: Federal Reserve Board
Published: 2009
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Description: "Sharp exchange rate depreciations, or currency crashes, are associated with poor economic outcomes in industrial countries only when they are caused by inflationary macroeconomic policies.  Moreover, the poor outcomes are attributable to inflationary policies in general and not the currency crashes in particular.  On the other hand, crashes caused by rising unemployment or external deficits have always had good economic consequences with stable or falling inflation rates"--Federal Reserve Board web site.
Notes: Title from PDF file as viewed on 6/22/2009.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.