CHU, Kam-hon; Chan, Bob Y. C.; Sin, Chor-yiu - Hong Kong Institute for Monetary Research (HKIMR), … - 2000
This paper develops an empirical framework to determine if the Asian currency crisis was contagious, and if so, whether the contagion was warranted or unwarranted. By applying a monetary-portfolio model to monthly data for 1991 - 1998, our results show that short-run variations in exchange rates...