Library Header Image
LSE Research Online LSE Library Services

Unique equilibrium in a dynamic model of crises with frictions

Guimaraes, Bernardo (2005) Unique equilibrium in a dynamic model of crises with frictions. . Centre for Economic Performance, London School of Economics and Political Science, London, UK.

Download (377kB) | Preview


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
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
Date Deposited: 19 May 2008 09:56
Last Modified: 26 Apr 2021 11:54

Actions (login required)

View Item View Item


Downloads per month over past year

View more statistics