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Government Finance in the Wake of Currency Crises

Craig BurnsideMartin S. EichenbaumSergio Rebelo

出版	National Bureau of Economic Research, 2003
URL	http://books.google.com.hk/books?id=QFiyAAAAIAAJ&hl=&source=gbs_api

註釋

This paper addresses two questions: (i) how do governments actually pay for the fiscal costs associated with currency crises; and (ii) what are the implications of different financing methods for post-crisis rates of inflation and depreciation? We study these questions using a general equilibrium model in which a currency crisis is triggered by prospective government deficits. We then use our model in conjunction with fiscal data to interpret government financing in the wake of three recent currency crises: Korea (1997), Mexico (1994) and Turkey (2001).