Series: IMF Working Papers
Author(s): Manmohan Kumar , and Avinash Persaud
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2001
Keywords: Risk aversion, contagion affects, financial crises, contagion, correlation, probability, currency crises, Financial Institutions and Services: General,
This paper discusses a "pure" form of financial contagion, unrelated to economic fundamentals - investors' shifting appetite for risk. It provides an analytical framework for identifying changes in investors' risk...