飓风 发表于 2025-3-30 08:32:07
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Identifying the Role of Contagion in Currency Crises with Markov-Switching Modelsa systematic comparison of three distinct causes of currency crises: contagion, weak economic fundamentals, and sunspots, i.e. unobservable shifts in agents’ beliefs. Testing this model empirically reveals that contagion, i.e. a high degree of real integration and financial interdependence among couSPASM 发表于 2025-3-30 19:24:21
Empirical Links between Twin Crises in the 1980s and the 1990s: Were there Differences?g crises. We find that twin crises in the 1980s tended to show up as a currency crisis followed by a banking crisis. This pattern changes in the 1990s with twin crises showing up as a banking crisis followed by a currency crisis. Currency crises in the 1990s are strongly correlated with high M2 to fFLUSH 发表于 2025-3-30 20:41:46
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