INVESTIGADORES
TOHME Fernando Abel
artículos
Título:
A Fuzzy Characterization of Financial Crises
Autor/es:
PAZZI, JORGE; TOHMÉ, FERNANDO
Revista:
Fuzzy Economic Review
Editorial:
SIGEF-FEGI
Referencias:
Lugar: Reus (España); Año: 2005 vol. 10 p. 61 - 70
ISSN:
1136-0593
Resumen:
Along the lines followed by the third-generation models of financial crises, we present a model that does not focus on fundamentals as the main cause of a crisis but without claiming that fundamentals do no matter. On the contrary, speculative attacks will be seen as fully justified by weak fundamentals. On the other hand, a country with sound and very strong fundamentals is not a vulnerable target for such attacks. The interest here is oriented to a range of fundamentals in which a crisis could happen but not necessarily. We discuss, in terms of a in a fuzzy model of financial herding, the nature of such a crisis in a bank-based financial system, arising from uncertainty on exchange rate. ..