TY - BOOK ID - 84542021 TI - The Interest Rate-Exchange Rate Nexus in the Asian Crisis Countries AU - Ghosh, Atish. AU - Basurto, Gabriela. PY - 2000 SN - 146232889X 1452793689 1281088927 1451891563 9786613774385 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Foreign Exchange KW - Investments: General KW - Money and Monetary Policy KW - International Financial Markets KW - Money and Interest Rates: General KW - Investment KW - Capital KW - Intangible Capital KW - Capacity KW - Interest Rates: Determination, Term Structure, and Effects KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Demand for Money KW - Currency KW - Foreign exchange KW - Macroeconomics KW - Finance KW - Monetary economics KW - Exchange rates KW - Return on investment KW - Real interest rates KW - Depreciation KW - Monetary base KW - National accounts KW - Financial services KW - Demand for money KW - Money KW - Saving and investment KW - Interest rates KW - Money supply KW - Korea, Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542021 AB - Sharp exchange rate depreciations in the East Asian crisis countries (Indonesia, Korea, and Thailand) raised doubts about the efficacy of increasing interest rates to defend the currency. Using a standard monetary model of exchange rate determination, this paper shows that tighter monetary policy was in fact associated with an appreciation of the exchange rate. Moreover, there is little evidence of higher real interest rates contributing to a widening of the risk premium. ER -