Now showing items 1-3 of 3

    • Inflation targeting, credibility and confidence crises 

      Araújo, Aloísio Pessoa de; Santos, Rafael Chaves
      2007-09-01
      We study the interplay between the central bank transparency, its credibility, and the ination target level. Based on a model developed in the spirit of the global games literature, we argue that whenever a weak central ...
    • Monetary arrangements for emerging economies 

      Santos, Rafael Chaves; Araújo, Aloísio Pessoa de; Leon, Márcia Saraiva
      2007-09-01
      In this paper we look at various alternatives for monetary regimes: dollarization, monetary union and local currency. We use an extension of the debt crisis model of Cole and Kehoe ([3], [4] and [5]), although we do not ...
    • Speculative attacks, openness and crises 

      Santos, Rafael Chaves; Araújo, Aloísio Pessoa de; Leon, Márcia Saraiva
      2007-09-01
      In this paper we propose a dynamic stochastic general equilibrium model to evaluate financial adjustments that some emerging market economies went through to overcome external crises during the latest decades, such as ...