Daniels, Tijmen R.; Jager, Henk; Klaassen, Franc - 2008
-known currency crisis model of Morris and Shin (American Economic Review 88 (1998) 587-97). After adding these natural elements, our … model outperforms standard currency crisis models at explaining stylised features of speculative attacks. Moreover, our … model connects the theoretical currency crisis literature to an empirical literature on exchange market pressure, by …