Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/2765
Authors: 
Siebert, Horst
Year of Publication: 
2002
Series/Report no.: 
Kiel Working Paper 1106
Abstract: 
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.
Subjects: 
real exchange rate
devaluation
currency crisis
JEL: 
E0
F3
Document Type: 
Working Paper

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