search query: @author Flood, R. P. / total: 9
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| Author: | Flood, R. P. Rose, A. K. |
| Title: | Uncovered Interest Parity in Crisis |
| Journal: | IMF Staff Papers
2002 : VOL. 49:2, p. 252-266 |
| Index terms: | CRISES EXCHANGE RATES ECONOMICS ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | This paper tests for uncovered interest parity (UIP) using daily data for 23 developing and developed countries during the crisis-strewn 1990s. The authors 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 differen- tials 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 the authors find no significant differences between rich and poor countries. The paper provides a substantial list of references on this subject. |
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