Hui, Cho-Hoi; Chung, Tsz-Kin - Hong Kong Institute for Monetary Research (HKIMR), … - 2010
The economic-political instability of a country, which is tied to its credit risk, often leads to sharp depreciation and heightened volatility in its currency. This paper shows that not only the creditworthiness of the euro-area countries with weaker fiscal positions but also that of the member...