Replication data for: Falling Dominoes: A Theory of Rare Events and Crisis Contagion

Principal Investigator(s): View help for Principal Investigator(s) Heng Chen; Wing Suen

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Project Citation:

Chen, Heng, and Suen, Wing. Replication data for: Falling Dominoes: A Theory of Rare Events and Crisis Contagion. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114335V1

Project Description

Summary: Crises, such as revolutions and currency attacks, rarely occur; but when they do they typically arrive in waves. The rarity of crises is an important contagion mechanism in a multiple-country dynamic global game model. When players are uncertain about the true model of the world, observing a rare success elsewhere can substantially change their expectations concerning the payoffs from attacking or defending the regime. Such dramatic revisions in beliefs, amplified by strategic complementarity in actions, may lead to a series of attacks in other countries. The crisis period can be long-lasting, but will eventually come to an end. (JEL D74, D83, F33, G01)

Scope of Project

JEL Classification:
      D74 Conflict; Conflict Resolution; Alliances; Revolutions
      D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
      F33 International Monetary Arrangements and Institutions
      G01 Financial Crises

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Published Versions

V1 [2019-10-12]

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