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Unique equilibrium in a dynamic model of crises with frictions

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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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)
Official URL:
Additional Information: © 2005 the author
Divisions: Centre for Economic Performance
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: 15 Sep 2023 23:02

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