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Information Dissemination in Currency Crises

  • Christina E. Metz

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 527)

Table of contents

  1. Front Matter
    Pages I-XI
  2. Christina E. Metz
    Pages 9-17
  3. Christina E. Metz
    Pages 19-26
  4. Christina E. Metz
    Pages 29-31
  5. Christina E. Metz
    Pages 33-52
  6. Christina E. Metz
    Pages 73-75
  7. Christina E. Metz
    Pages 135-136
  8. Christina E. Metz
    Pages 137-161
  9. Christina E. Metz
    Pages 189-191
  10. Christina E. Metz
    Pages 193-197
  11. Christina E. Metz
    Pages 199-217
  12. Back Matter
    Pages 221-231

About this book

Introduction

As the complexity of financial markets keeps growing, so does the need to understand the decision-making and the coordination of the exsuing actions in the marketplace. In particular, the disclosure of information to market participants and its impact on the market outcome mertis attention. This study analyses the role of private and public information in currency crises. Calls for increased dissemination of economic and policy-related information by central banks notwithstanding, the study shows that transparency is not generally conductive to preventing speculative attacks in fixed exchange-rate regimes. Rather, the role of private and public information in the market-place depencs critically on the prevailing market sentiment. The study also highlights the import of market transparency design in an environment that allows for herding and market leadership of individual speculators.

Keywords

Coordination Games Currency Crises Global Games Information Disclosure Transparency equilibrium financial markets

Authors and affiliations

  • Christina E. Metz
    • 1
  1. 1.Finance DepartmentGoethe-University FrankfurtFrankfurtGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-55471-1
  • Copyright Information Springer-Verlag Berlin Heidelberg 2003
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-540-00656-5
  • Online ISBN 978-3-642-55471-1
  • Series Print ISSN 0075-8442
  • Buy this book on publisher's site
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Finance, Business & Banking