Series: IMF Working Papers
Author(s): Torbjorn Becker , and Amadou Sy
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2005
Keywords: market microstructure, bid-ask spreads, Asian crisis, exchange rate, pre-crisis, pre- 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 estima...