Kaminsky, Graciela L.; Reinhart, Carmen M.; Végh, Carlos A. - In: Journal of Economic Perspectives 17 (2003) 4, pp. 51-74
Over the last 20 years, some financial events, such as devaluations or defaults, have triggered an immediate adverse chain reaction in other countries--which we call fast and furious contagion. Yet, on other occasions, similar events have failed to trigger any immediate international reaction....
