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The Interest Rate-Exchange Rate Nexus in the Asian Crisis Countries, Atish Ghosh, Gabriela Basurto

Abstract
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. Moreover, there is little evidence of higher real interest rates contributing to a widening of the risk premium
Language
eng
Literary form
non fiction
Note
Bibliographic Level Mode of Issuance: Monograph
Physical description
1 online resource (25 pages)
Form of item
online
ISBN
9780146232886

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