01814cas a2200253 a 4500 AALejournalIMF000715 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855166 1018-5941 BD-DhAAL BD-DhAAL Marion, Nancy. Perspectiveson the Recent Currency Crisis Literature / Nancy Marion, Robert Flood. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (51 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students In the 1990s, currency crises in Europe, Mexico, and Asia have drawn worldwide attention to speculative attacks on government-controlled exchange rates and have prompted researchers to undertake new theoretical and empirical analysis of these events. This paper provides some perspective on this work and relates it to earlier research. It derives the optimal commitment to a fixed exchange rate and proposes a common framework for analyzing currency crises. This framework stresses the important role of speculators and recognizes that the government's commitment to a fixed exchange rate is constrained by other policy goals. The final section finds that some crises may be particularly difficult to predict using currently popular methods. Mode of access: Internet Flood, Robert. IMF Working Papers; Working Paper ; No. 1998/130 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/130/001.1998.issue-130-en.xml IMF e-Library