Firm Liquidation and Economic Crisis under Unexpected Exchange Rate Shock
This paper studies the causes, mechanisms and consequences of decreasing firm value and welfare loss in an economy under a fixed exchange rate regime when there is an unexpected appreciation in domestic currency. We also study the possible economic crisis caused by the exchange rate shock. We consid...
| Main Authors: | , , |
|---|---|
| Format: | Journal Article |
| Language: | EN |
| Published: |
2012
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/5790 |