Economic Integration and the Exchange Rate Regime: How Damaging are Currency Crises?
نویسندگان
چکیده
منابع مشابه
The Interest Rate–Exchange Rate Nexus in Currency Crises
Sharp exchange rate depreciations in the East Asian crisis countries (Indonesia, Korea, and Thailand) raised doubts about the efficacy of increasing interest rates to defend the currency. Using a standard monetary model of exchange rate determination, this paper shows that tighter monetary policy was in fact associated with an appreciation of the exchange rate in these countries and during the ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2003
ISSN: 1556-5068
DOI: 10.2139/ssrn.380282