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Contagious Currency Crises Author info | Abstract | Publisher info | Download info | Related research | Statistics Eichengreen, Barry
Rose, Andrew K
Wyplosz, Charles
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This paper is concerned with the fact that the incidence of speculative attacks tend to be temporally correlated; that is, currency crises appear to pass ‘contagiously’ from one country to another. The paper provides a survey of the theoretical literature, and analyses the contagious nature of currency crises empirically. Using 30 years of panel data from 20 industrialized countries, we find evidence of contagion. Contagion appears to spread more easily to countries that are closely tied by international trade linkages than to countries in similar macroeconomic circumstances.
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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number
1453.
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Date of creation: Aug 1996Date of revision:
Handle: RePEc:cpr:ceprdp:1453Contact details of provider: Postal: Centre for Economic Policy Research, 53--56 Great Sutton Street, London EC1V 0DG Phone: 44 - 20 - 7183 8801 Fax: 44 - 20 - 7183 8820
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Keywords: Channels Data International Macroeconomic Panel Similarity Speculative Trade Other versions of this item:
Find related papers by JEL classification: F31 - International Economics - - International Finance - - - Foreign Exchange
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
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"Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System ,"
NBER Working Papers
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[Downloadable!] (restricted)
Other versions:
Barry Eichengreen & Andrew K. Rose & Charles Wyplosz, 1995.
"Speculative attacks on pegged exchange rates: an empirical exploration with special reference to the European Monetary System ,"
Working Papers in Applied Economic Theory
95-04, Federal Reserve Bank of San Francisco.
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Guillermo A. Calvo, 1996.
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Working Papers in Applied Economic Theory
96-02, Federal Reserve Bank of San Francisco.
Rudger Dornbusch & Ilan Goldfajn & Rodrigo O. Valdés, 1995.
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[Downloadable!]
Gerlach, Stefan & Smets, Frank, 1995.
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[Downloadable!] (restricted)
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