01619cas a2200241 a 4500 AALejournalIMF007455 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451980202 1018-5941 BD-DhAAL BD-DhAAL Lall, Subir. Speculative Attacks, Forward Market Intervention and the Classic Bear Squeeze / Subir Lall. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (37 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 A typical strategy used by speculators to launch an attack on a fixed exchange regime is the use of forward markets. Central banks also intervene in forward markets to counter speculation. This paper addresses the question of how an attack is launched on the forward market, and what the optimal policy response to such speculation is in the forward and spot markets. The paper also demonstrates how central banks can impose a bear squeeze on speculators. Recent events in South East Asian currency markets are interpreted within the framework of the model's predictions. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/164 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/164/001.1997.issue-164-en.xml IMF e-Library