This paper aims to find deterministic factors of recent crisis in East Asia and Latin America by conducting empirical tests for each crisis-hit country instead of analyzing the panel data. In particular, the focus of the study lies in verifying whether economic fundamentals matter as a common...

Korean Abstract: 본고에서는 원화환율의 변동이 수출입단가 및 국내물가에 미치는 영향에 있어 환율상승기와 하락기에 非對稱的 효과를 갖는가를 분석하였다. 행태방정식 추정 및 VAR모형을 이용한 충격 반응함수 분석 결과...

This paper tested the factors which cause deviation from covered interest rate parity (CIRP) in Korea, using regression and VAR models. The empirical evidence indicates that the difference between the swap rate and interest rate differential exists and is greatly affected by variables which...