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Keywords:

  • Speculative currency attacks;
  • balance of payments crises;
  • collapsing exchange rate regimes

Abstract. This paper reviews the recent theoretical literature on collapsing exchange rate regimes. Using a combination of technique, intuition and realworld observation, we discuss the literature's main insights, point out some unresolved questions and offer suggestions for future research. The survey should be of interest to both specialists and non-specialists in the field of international macroeconomics.