01486cas a2200241 a 4500 AALejournalIMF001085 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857979 1018-5941 BD-DhAAL BD-DhAAL Masson, Paul. Multiple Equilibria, Contagion, and the Emerging Market Crises / Paul Masson. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (25 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 The paper surveys the types of models producing multiple equilibria in financial markets. It argues that such models are consistent with observed phenomena, such as the greater volatility of financial asset prices than of macroeconomic fundamentals. Alternative explanations are compared with the stylized facts concerning capital flows, portfolio shifts, and exchange rate crises. Implications for crisis prediction and prevention are then discussed. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1999/164 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/164/001.1999.issue-164-en.xml IMF e-Library