A theoretical overview of the first and second generation models of currency crises
Author
Özbuğday, Fatih Cemil
Advisor
Yiğit, Taner
Date
2009Publisher
Bilkent University
Language
English
Type
ThesisItem Usage Stats
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Abstract
This study reckons a comprehensive and holistic overview of first and second
generation models of currency crises. The main characteristics and assumptions of
these models are portrayed and the motives behind these models are illustrated. By
and large, the seminal papers which have been sources of inspiration for the
evolution of the currency crisis theory are demonstrated in detail. Moreover,
incorporations of various elements from economic theory into these models and
extensions are discussed briefly. Finally, a very basic intuition about how successful
these models are in giving explanations of currency crises that countries have
experienced is given.