International Finance and Financial Crises : Essays in Honor of Robert P. Flood, Jr.

__International Finance and Financial Crises: Essays in Honor of Robert P. Flood, Jr.__ contains the proceedings of a conference held in honor of Robert P. Flood, Jr. Bob Flood has made important contributions to many areas of economic analysis, including regime switching, speculative attacks, bubbles, stock market volatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. Contributors were invited to address any of the topics or others of their choosing. The results include five papers on topics in international finance; two of these papers, as well as the panel discussion, focus on speculative attacks and financial crises. The other three take new directions in exploring topics in which existing models leave much to be desired. "International Finance and Financial Crises; Essays in Honor of Robert P. Flood, Jr. contains the proceedings of a conference held in honor of Robert P. Flood, Jr. Bob Flood has made important contributions to many areas of economic analysis, including regime switching, speculative attacks, bubbles, stock market volatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. Contributors were invited to address any of those topics or others of their choosing. The results include five papers on topics in international finance; two of these, as well as the panel discussion, focus on speculative attacks and financial crises. The other papers take new directions in exploring topics on which the existing literature leaves much to be desired."--BOOK JACKET. Front Matter....Pages i-xviii Some Parallels Between Currency and Banking Crises....Pages 1-29 Balance Sheets, the Transfer Problem, and Financial Crises....Pages 31-55 Financial Crises: What Have We Learned From Theory and Experience?....Pages 57-70 On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models....Pages 71-93 An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited....Pages 95-119 An International Dynamic Asset Pricing Model....Pages 121-150 Role of the Minimal State Variable Criterion in Rational Expectations Models....Pages 151-176 Exact Utilities under Alternative Monetary Rules in a Simple Macro Model with Optimizing Agents....Pages 177-205 Simple Monetary Policy Rules Under Model Uncertainty....Pages 207-263 Back Matter....Pages 265-273