During the East Asian currency crisis, some countries opted to float their currencies relative to the U.S. dollar, whereas others did not. Consider two countries: South Korea and Malaysia. South Korea floated its currency (the won) against the dollar in the autumn of 1997. Malaysia did not, and it still maintains a fixed exchange rate relative to the U.S. dollar. For simplicity, suppose that these two countries faced exactly the same costs and benefits of maintaining a credible exchange rate peg. In this case, is it possible that they both made an optimal decision? Explain.