Herd behaviour and interest rate defence

被引：1

作者：

Lam, MCH ^{[1
]}

机构：

[1] Simon Fraser Univ, Burnaby, BC V5A 1S6, Canada

来源：

JOURNAL OF POLICY MODELING | 2002年 / 24卷 / 02期

关键词：

self-fulfilling crisis; herd behaviour; currency crisis; government policy;

D O I：

10.1016/S0161-8938(02)00102-3

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

When currency crises strike, investors and domestic wealth holders herd and withdraw their funds at the same time. Herd behaviour is the major problem underlying self-fulfilling panics. This paper constructs a new framework to examine how government policies can prevent currency crises by guiding correct signals back to the financial market, Also, interest rate defence is a complement, not a substitute, of government strategies I mention in the paper. (C) 2002 Society for Policy Modeling, Published by Elsevier Science Inc. All rights reserved.

引用

页码：181 / 193

页数：13

共 15 条

[1] A SIMPLE-MODEL OF HERD BEHAVIOR [J].