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Private Sector Involvement and International Financial CrisesAn Analytical Perspective$
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Michael Chui and Prasanna Gai

Print publication date: 2005

Print ISBN-13: 9780199267750

Published to Oxford Scholarship Online: July 2005

DOI: 10.1093/0199267758.001.0001

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Sunspot-Based Models

Sunspot-Based Models

Chapter:
(p.23) 3 Sunspot-Based Models
Source:
Private Sector Involvement and International Financial Crises
Author(s):

Michael Chui

Prasanna Gai (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199267758.003.0003

Articulates second-generation (sunspot) models of financial crisis, and highlights the important role of coordination problems in these models. The seminal currency crisis model of Obstfeld (1996) and the bank run model of Diamond and Dybvig (1983) are presented in detail.

Keywords:   bank runs, coordination problems, currency crises, second-generation crisis models, sunspots

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