The ERM breakdown: a spatial econometric approach

This study proposes a spatial autoregressive model to investigate whether pure contagion effects occurred during the European exchange market turmoil in 1992. It defines pure contagion as spatial autocorrelation between countries in excess to that which can be explained by economic fundamentals. By doing so, it is possible to predict the effectiveness of rescue packages and foreign supports for each country of the dataset.

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Year of publication:	2007
Authors:	Ali, Leila ; Lebreton, Marie
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 14.2007, 3, p. 197-201
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005265445