An iron law of currency crisis : the divergence of the nominal and the real exchange rate and increasing current account deficits

dc.creator	Siebert, Horst
dc.date	2002
dc.date.accessioned	2013-10-16T06:06:06Z
dc.date.available	2013-10-16T06:06:06Z
dc.date.issued	2013-10-16
dc.identifier	http://hdl.handle.net/10419/2765
dc.identifier	ppn:349321140
dc.identifier	ppn:349321140
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/2765
dc.description	The currency crises of the 1990s all exhibit a divergence of the nominal and the real exchange rate together with an increase in the negative current account. The nominal rate does not reflect inflation differences fully and the ensuing real appreciation leads to a negative current account. This pattern holds for the Czech, the Mexican, Brazilian, Argentinian as well as the South Korean currency crises. It seems to be an iron law of currency crises.
dc.language	eng
dc.publisher	Kiel Institute for the World Economy (IfW) Kiel
dc.relation	Kieler Arbeitspapiere 1106
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject	E0
dc.subject	F3
dc.subject	ddc:330
dc.subject	currency crisis
dc.subject	real exchange rate
dc.subject	devaluation
dc.subject	Währungskrise
dc.subject	Kaufkraftparität
dc.subject	Leistungsbilanz
dc.subject	Abwertung
dc.subject	Mexiko
dc.subject	Brasilien
dc.subject	Argentinien
dc.subject	Südkorea
dc.subject	Tschechische Republik
dc.title	An iron law of currency crisis : the divergence of the nominal and the real exchange rate and increasing current account deficits
dc.type	doc-type:workingPaper

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