Currency Speculation in Fixed Exchange Rate Regimes

1. Front Matter

   Pages I-XVII

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2. General Remarks

   • Anja Zenker

   Pages 1-3

3. Overview of Fixed Exchange Rate Regimes

   • Anja Zenker

   Pages 5-21

4. Theories of Currency Speculation in Fixed Exchange Rate Regimes

   • Anja Zenker

   Pages 23-71

5. Empirical Evidence on Currency Crises in Fixed Exchange Rate Regimes

   • Anja Zenker

   Pages 73-89

6. Policy Options

   • Anja Zenker

   Pages 91-96

7. Conclusions

   • Anja Zenker

   Pages 97-100

8. Back Matter

   Pages 101-133

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Speculative currency crises seem to have become a common and inevitable phenomenon in the international monetary system. Against this background, various approaches have been developed by economists to cover the broad range of situations in which balance-of-payments crises occurred. Anja Zenker provides a comprehensive insight into the body of theoretical and empirical literature about currency speculation in fixed exchange rate regimes. The author discusses different generations of theoretical models and their empirical relevance in recent currency crises. Moreover, she considers diverse policy options which attempt to avoid speculative attacks on exchange rate pegs.

• Balance-of-Payments Crises
• Currency Speculation
• Fixed Exchange Rates

• Lehrstuhl für Finanzwissenschaft, Technische Universität Chemnitz, Chemnitz, Germany

  Anja Zenker

Anja Zenker is a lecturer and PhD student at the Department of Economics and Business Administration (Chair in Public Finance) of the Chemnitz University of Technology. She holds a MSc in Economics and a Bachelor in European Studies with Economical Science.

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