This paper examines the effect of monetary policy on the exchange rate during currency crises. Using data for a number … The Effect of Monetary Policy on Exchange Rates during Currency Crises; The Role of Debt, Institutions and … rates during currency crises; the role of debt, institutions and financial openness∗ Sylvester C.W. Eijffinger and Benedikt …

The Effect of Monetary Policy on Exchange Rates during Currency Crises; The Role of Debt, Institutions and … rates during currency crises; the role of debt, institutions and financial openness∗ Sylvester C.W. Eijffinger and Benedikt … examines the effect of monetary policy on the exchange rate during currency crises. Using data for a number of crisis episodes …

real exchange rates at about the time of the Asian crisis that occurred in 1997, and provides some explanations for the … breaks. The breaks in the residual variance increased the volatility of the real exchange rates, which given the overall … nominal exchange rates rather than in the price ratios are mainly responsible for the breaks in the real exchange rates …

indicators including real exchange rates and exports sent frequent warnings to all crisis-hit East Asian countries except the … forecasting the East Asian crisis. On the other hand, we also find that our forecasting system often generates warning signals …

We argue that recent currency crises reflect clashes between fundamentals and pegged exchange rates, just as did crises … if a government's policies are inconsistent with pegged exchange rates. We base these conclusions on a review of currency … crises in the historical record under metallic monetary regimes and of crises post-World War II under Bretton Woods, and …

This paper analyzes the role of contagion in the currency crises in emerging markets during the 1990s. It employs a non …-linear Markov-switching model to conduct a systematic comparison and evaluation of three distinct causes of currency crises … power for the 1997-98 Asian crisis. The findings suggest that in particular the degree of financial interdependence and also …

focusing on the Asian crisis in 97-98 and the Global crisis in 08-09. By using the daily KRW-USD and JPY-USD exchange rates … returns of the two exchange rates. Then it compares the effects of the two financial crises on the long memory volatility … crises seems to be different on the exchange rates …

Is there any factor that is not analyzed in the literature but is important for preventing currency crises? What kind … paper analyzes currency crises both theoretically and empirically. In the theoretical part, I argue that exports are an … important factor to prevent currency crises that has not been frequently analyzed in the existing theoretical literature. Using …