Guimaraes, Bernardo (2005) Unique equilibrium in a dynamic model of crises with frictions. . London School of Economics and Political Science. Centre for Economic Performance, London, UK.
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Abstract
This paper studies a dynamic model of crises with timing frictions that combines the main aspects of Morris and Shin (1998) and Frankel and Pauzner (2000). The usual arguments for existence and uniqueness of equilibrium cannot be applied. It is shown that the model has a unique equilibrium within the class of threshold equilibria.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://cep.lse.ac.uk |
| Additional Information: | © 2005 the author |
| Divisions: | Centre for Economic Performance Economics |
| Subjects: | H Social Sciences > HG Finance |
| JEL classification: | D - Microeconomics > D8 - Information, Knowledge, and Uncertainty F - International Economics > F3 - International Finance |
| Date Deposited: | 19 May 2008 09:56 |
| Last Modified: | 11 Dec 2024 18:43 |
| URI: | http://eprints.lse.ac.uk/id/eprint/4907 |
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