Atasoy, Deniz; Saxena, Sweta C. - In: Emerging Markets Finance and Trade 42 (2006) 3, pp. 29-45
Scholars agree that overvalued exchange rates result in currency crises. This paper estimates the equilibrium real … exchange rate for Turkey, finding that the lira was indeed overvalued before the crises in 1994 and 2001. However, the actual …