Contagious Currency Crises |
Common terms and phrases
05 value analyze Andrew K associated z-statistics attacks in foreign Bretton Woods system Budget capital controls center country central bank channels of transmission coefficients competitiveness contagion effect contagious currency crises Contem convert into percentages credit growth currency peg current account depreciation devaluations domestic credit domestic currency economic effective exchange rate Eichengreen empirical European Monetary System evidence of contagion expansionary factors foreign exchange markets gopher at nber.harvard.edu http://nber.harvard.edu included inflation investors Italian lira Krugman Lags Lags macro macro-weighted macroeconomic similarities macroeconomic variables maximum likelihood Mexican Mexican peso model of exchange monetary base multiple equilibria NBER Working Papers null Obstfeld poraneous Probit Results Probit slope derivatives provides quarter regressors relevant sample self-fulfilling attacks shock similar macroeconomic Similarity Crisis slope derivatives x100 Slopes significantly different speculative attack elsewhere speculative attacks speculative pressure spread contagiously standard deviation Tequila Effect trade links trade-weighted unemployment unweighted weight crises z-statistics for hypothesis