TY - BOOK ID - 84541865 TI - Uncovered Interest Parity in Crisis : The Interest Rate Defense in the 1990s AU - Rose, Andrew. AU - Flood, Robert. PY - 2001 SN - 1462338569 1452755086 1283511266 9786613823717 1451919239 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Foreign Exchange KW - Current Account Adjustment KW - Short-term Capital Movements KW - International Financial Markets KW - Interest Rates: Determination, Term Structure, and Effects KW - Currency KW - Foreign exchange KW - Finance KW - Interest rate parity KW - Exchange rates KW - Exchange rate adjustments KW - Exchange rate arrangements KW - Conventional peg KW - Financial services KW - Interest rates KW - Hong Kong Special Administrative Region, People's Republic of China UR - https://www.unicat.be/uniCat?func=search&query=sysid:84541865 AB - This paper tests for uncovered interest parity (UIP) using daily data for 23 developing and developed countries through the crisis-strewn 1990s. We find that UIP works better on average in the 1990s than in previous eras in the sense that the slope coefficient from a regression of exchange rate changes on interest differentials yields a positive coefficient (which is sometimes insignificantly different from unity). UIP works systematically worse for fixed and flexible exchange rate countries than for crisis countries, but we find no significant differences between rich and poor countries. ER -