Contagious currency crises: first tests
Article Abstract:
A speculative attack elsewhere in the world increases the probability of an attack on the domestic currency by 8%, despite considering various domestic political and economic factors. Empirical evidence gleaned from a systematic analysis of quarterly macroeconomic and political data from 20 industrial nations from 1959 to 1993 supports the hypothesis of contagion in currency crises across countries. A strong positive partial correlation between the incidence of a currency crisis in a country at a given point in time and the incidence of a currency crisis in a different country at the same point in time.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Tests of rational expectations in a stark setting
Article Abstract:
Subjects' forecasts of values in a series are compared with rational expectations in a stark environment. The values are generated by a mechanism unknown to the subjects, which simplifies the testing by removing market factors. The experiment also analyzed the distribution of subjective probability outcomes. The experiment found that forecast deviations are usually unpredictable whether or not subjects are privy to information.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
High expectations for low-tech
Article Abstract:
The Japanese economy brought major uncertainties in 1995, and in trying to avoid economic crisis, the publically funded Science & Technology Agency is initiating research and development projects. Although this only compromises one-fifth of the total yen spent, the government recognizes that basic science and research may help them avoid major economic problems in the future.
Publication Name: Asian Review of Business and Technology
Subject: Economics
ISSN: 0956-3784
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: CPI Detailed Report user survey results. Mexican foods. Price movements January 2004
- Abstracts: Mixed risk aversion. Earnings Functions for the Self-Employed
- Abstracts: International currency experience: new lessons and lessons relearned. Rational Expectations and the Volatility of Floating Exchange Rates
- Abstracts: The boundaries of multinational enterprises and the theory of international trade. The dollar and the US terms of trade
- Abstracts: Education subsidies, social security and growth: the implications of a demographic shock. On the demographic realism of the Ricardian theory of public finance