Were Bid-Ask Spreads in the Foreign Exchange Market Excessive During the Asian Crisis?

Were Bid-Ask Spreads in the Foreign Exchange Market Excessive During the Asian Crisis?
Bid-ask spreads for Asian emerging market currencies increased sharply during the Asian crisis. A key question is whether such wide spreads were excessive or explained by models of bid-ask spreads. Precrisis estimates of standard models show that spreads during the crisis were in most cases tighter than spreads predicted by the models and there... READ MORE...

Publication date: February 2005
ISBN 9781451860535
$15.00

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