Chinn, Menzie D.; Frankel, Jeffrey A. - Center for Pacific Basin Monetary and Economic Studies, … - 1995
are linked with both the US and Japan (in terms of cointegration and positive covariation), while only Singapore is solely … linked with the US. On the other hand Korea, and perhaps Indonesia and Thailand appear to be more closely linked with Japan …. Real interest parity holds for only the following interest rate pairs: US-Singapore, US-Taiwan and Japan-Taiwan. …