Do high interest rates defend currencies during speculative attacks? New evidence.
A recent paper by Kraay (2003) documents the lack of any systematic association between monetary policy and the outcome of a speculative attack. This paper extends Kraay’s work by introducing an improved measure of monetary policy and an additional country-specific fundamental, short-term corporate...
| Autores principales: | , |
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| Formato: | Working paper |
| Lenguaje: | English |
| Publicado: |
CSAE (University of Oxford)
2006
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