Publications [#384229] of A. Craig Burnside

Chapters in Books

1. Burnside, C; Eichenbaum, M; Rebelo, S, Currency Crises Models, in New Palgrave Dictionary of Economics Third Edition (January, 2018), pp. 2551-2554 [doi]
   (last updated on 2026/01/14)

   Abstract:
   Currency crises have occurred frequently in the post-war era. In this article we review the literature on the causes and consequences of currency crises. First- generation models attribute a central role to fiscal policy as a fundamental determinant of crises. Second-generation models emphasize the possibility of selffulfilling speculative attacks and multiple equilibria. Third-generation models stress how financial fragility can lead to currency crises.