TY  - JOUR
AU  - Eichengreen,Barry
AU  - Rose,Andrew K.
AU  - Wyplosz,Charles
TI  - Contagious Currency Crises
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5681
PY  - 1996
Y2  - July 1996
UR  - http://www.nber.org/papers/w5681
L1  - http://www.nber.org/papers/w5681.pdf
N1  - Author contact info:
Barry Eichengreen
Department of Economics
University of California, Berkeley
549 Evans Hall 3880
Berkeley, CA 94720-3880
Tel: 510/642-2772
Fax: 510/643-0926
E-Mail: eichengr@econ.Berkeley.edu

Andrew K. Rose
Haas School of Business Administration
University of California, Berkeley
Berkeley, CA 94720-1900
Tel: 510/642-6609
Fax: 510/642-4700
E-Mail: arose@haas.berkeley.edu

Charles Wyplosz
Graduate Institute of International Studies
Avenue de la Paix 11a
1202 Geneva
Switzerland
Tel: 41 22 908 5946
Fax: 41 22 733 3049
E-Mail: charles.wyplosz@graduateinstitute.ch
M2  - featured in NBER digest on 1997-03-01
AB  - This paper is concerned with the fact that the incidence of speculative attacks tends to be temporally correlated; that is, currency crises appear to pass contagiously  from one country to another.  The paper provides a survey of the theoretical literature, and analyzes the contagious nature of currency crises empirically.  Using thirty years of panel data from twenty industrialized countries, we find evidence of contagion. Contagion appears to spread more easily to countries which are closely tied by international trade linkages than to countries in similar macroeconomic circumstances.
ER  -