The authors explore how Korea's financial structure affects the volatility of asset prices. Documented empirical evidence of the relationship between financial structure and financial crisis, sheds light on the relationship between asset price volatility - extreme variations in price - and...

The authors investigate how the thinness of foreign-exchange markets causes destabilization speculation, especially when exchange-rate flexibility is increased, as it has been in the countries involved in the Asian crisis. They analyze the impact of this market thinness on the dynamic capital...

The author provides theoretical and empirical evidence of a negative association between income inequality and real exchange rates. First, he builds a theoretical model showing the transmission mechanism from inequality to real exchange rates. Second, using cross-country data, he demonstrates...

Even though real exchange rate has an important impact on sustainable export and economic growth for small open economies, its impact on income distribution and transmission mechanism was never investigated. The paper shows that improved income distribution, through its impact on the price of...

How Korea's financial structure affects the volatility of Korea's real effective exchange rate, money market rate, government bond yields, and stock prices.Min and Park explore how Korea's financial structure affects the volatility of asset prices. Documented empirical evidence of the...

This study of recent instability in seven Asian countries-Hong Kong, Indonesia, the Republic of Korea, Malaysia, the Philippines, Singapore, and Thailand-finds that capital mobility increased in six of the countries. Capital market risk increased the most in Thailand. And except in Singapore,...