Uncovered Interest Parity in Crisis : The Interest Rate Defense in the 1990s /

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 chan...

Ausführliche Beschreibung

Bibliographische Detailangaben
1. Verfasser: Rose, Andrew
Weitere Verfasser: Flood, Robert
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2001.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 2001/207
Online Zugang:Full text available on IMF
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245 1 0 |a Uncovered Interest Parity in Crisis :   |b The Interest Rate Defense in the 1990s /  |c Andrew Rose, Robert Flood. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2001. 
300 |a 1 online resource (15 pages) 
490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Flood, Robert. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2001/207 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2001/207/001.2001.issue-207-en.xml  |z IMF e-Library