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 wa...

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Veröffentlicht in:	IMF staff papers 2001-01, Vol.47, p.99
Hauptverfasser:	Basurto, Gabriela, Ghosh, Atish
Format:	Artikel
Sprache:	eng
Schlagworte:	American dollar Currencies Depreciation Economic crisis Foreign exchange rates Interest rates Monetary policy Risk premiums Statistical analysis Studies
Online-Zugang:	Volltext
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