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Additional info for Managing currency crises in emerging markets
IMF Working Paper no. WP/00/19. : International Monetary Fund, February. Cho, Dongchul, and Kiseok Hong. 2002. Currency crisis of Korea: Internal weakness or external independence? In Regional and global capital flows: Macroeconomic causes and consequences, ed. Takatoshi Ito and Anne O. Krueger, 337–73. Chicago: University of Chicago Press. Cho, Dongchul, and Kenneth D. West. 2000. The eﬀect of monetary policy in exchange rate stabilization in post-crisis Korea. In The Korean crisis: Before and after, ed.
A. a. a. a. Notes: The estimates of a and d are computed from 53-week samples with the indicated starting date. 2. The algorithm used to map data to parameters cannot be used when the estimate of the first-order autocorrelation of ⌬st is positive. a. entries flag samples in which the estimate of this autocorrelation is positive. Korean, Philippine, and Thai Exchange Rate Crises 27 little, in light of the huge confidence intervals in the previous table. 4. Moreover, the estimate of a does not fall, which one might expect if Thailand systematically raised interest rates in response to incipient exchange rate depreciation in the early but not the later parts of the sample.
And S. Kamin. 2000. The impact of monetary policy on exchange rates during financial crisis. International Finance Discussion Paper no. 699. : Board of Governors of the Federal Reserve System. , and J. Sachs. 1998. The East Asian financial crisis: Diagnosis, remedies, prospects. Brookings Papers on Economic Activity, Issue no. 1:1–74. : Brookings Institution. Discussion Summary Jeﬀrey Shafer suggested that specific histories and observations are often helpful in terms of understanding economic relationships.