Arbeitspapier
An iron law of currency crisis: the divergence of the nominal and the real exchange rate and increasing current account deficits
The currency crises of the 1990s all exhibit a divergence of the nominal and the real exchange rate together with an increase in the negative current account. The nominal rate does not reflect inflation differences fully and the ensuing real appreciation leads to a negative current account. This pattern holds for the Czech, the Mexican, Brazilian, Argentinian as well as the South Korean currency crises. It seems to be an iron law of currency crises.
- Language
-
Englisch
- Bibliographic citation
-
Series: Kiel Working Paper ; No. 1106
- Classification
-
Wirtschaft
- Subject
-
real exchange rate
devaluation
currency crisis
Währungskrise
Kaufkraftparität
Leistungsbilanz
Abwertung
Mexiko
Brasilien
Argentinien
Südkorea
Tschechische Republik
- Event
-
Geistige Schöpfung
- (who)
-
Siebert, Horst
- Event
-
Veröffentlichung
- (who)
-
Kiel Institute of World Economics (IfW)
- (where)
-
Kiel
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:46 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Siebert, Horst
- Kiel Institute of World Economics (IfW)
Time of origin
- 2002
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