Hui, Cho-Hoi; Chung, Tsz-Kin - In: Journal of Banking & Finance 35 (2011) 11, pp. 2945-2955
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...