On the endogeneity of exchange rate regimes
http://www.economics-ejournal.org/dataset/PDFs/discussionpapers_2009-31.pdf Webthe e ect of exchange rate regimes on the cyclicality of scal policy and more interestingly, we try to nd whether the e ect of scal rules depends on the exchange rate regime in place.2 In other words, we focus on the e ect of rules conditional on the exchange rate regime in place (in line with a Mundell-Fleming approach).
On the endogeneity of exchange rate regimes
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WebAn exchange rate regime is a way a monetary authority of a country or currency union manages the currency about other currencies and the foreign ... Federico & Reggio, Iliana (2006) "On the Endogeneity of Exchange Rate Regimes," Working Paper Series rwp06-047, Harvard University, John F. Kennedy School of Government. Nenovsky. N, K ... Web5 de jul. de 2012 · Abstract The literature has identified three main approaches to account for the way exchange rate regimes are chosen: (i) the optimal currency area theory; (ii) the financial view, which highlights the consequences of international financial integration; and (iii) the political view, which stresses the use of exchange rate anchors as credibility …
Webhave been little influenced by the frequent twist and turns in the exchange rate regime debate. JEL classification: F30; F33 Keywords: exchange rates, growth, impossible trinity, dollarization, capital flows * Eduardo Levy Yeyati is with the Business School of Universidad Torcuato Di Tella, Federico Sturzenegger is Web1 de mai. de 1996 · First, similar to EMP indices, there are measures of exchange rate flexibility. For example, based on the work of Glick, Kretzmer, and Wihlborg (1995), Glick and Wihlborg (1997), Bayoumi and ...
Web30 de jul. de 2013 · Lead Economist in the Finance, Competitiveness and Innovation Global Practice, World Bank Group. I work to promote private sector development through analytics and technical support to country ... WebEconomic theory does not noticeably articulate how the exchange-rate regime and particularly the exchange-rate peg affects growth. Instead, arguments typically focus on its impact on investment and international trade (primarily exports). However, Levy-Yeyati and Sturzenegger (2002) comprehensively treat how exchange-rate regime impinges on …
Webendogeneity of the exchange rate regime, andthe sample selection problem . Empirical results demonstrate that exchange rate regime does make a difference for inflation performance. The findings indicate that transition countries with intermediate arrangements may achieve lower inflation if they were to adopt a fixed regime.
Webanother classification based on statistical analysis of the exchange rate itself. Reinhart and Rogoff (2003) (hereafter RR) take a more radical approach: They classify regimes … pho eating gpoWeb25 de jun. de 2013 · To examine whether a country’s exchange rate regime has any impact on inflation and growth performance in transition economies, Domaç, Peters, and Yuzefovich develop an empirical framework that addresses some of the main problems plaguing empirical work in this strand of the literature: the Lucas critique, the … pho eateryWebseen as evidence in favour of the endogeneity hypothesis of optimum currency areas (OCAs). According to this hypothesis, the criteria stressed by the traditional OCA theory are endogenous, rather than exogenous to the exchange rate arrangement (Frankel and Rose 1998). Thus, supporters of the endogeneity hypothesis argue that countries considering phoe ayeWebThe literature has identified three main approaches to account for the way exchange rate regimes are chosen: (i) the optimal currency area theory; (ii) the financial view, which highlights the consequences of international financial integration; and (iii) the political view, which stresses the use of exchange rate anchors as credibility enhancers in politically … pho eatontownWeb"On the endogeneity of exchange rate regimes," UC3M Working papers. Economics we098374, Universidad Carlos III de Madrid. Departamento de Economía. Levy-Yeyati, Eduardo & Sturzenegger, Federico & Reggio, Iliana, 2006. "On the Endogeneity of Exchange Rate Regimes," Working Paper Series rwp06-047, Harvard University, John … tsx industrial averageWebExternal balances, exchange rate misalignment & exchange rate regimes in developing countries Equilibres externes, compétitivité et processus de transformation structurelle de l’économie Marocaine, OCP ... this research employs the generalized method of moments to cope with the endogeneity problem, ... tsx information technology etfWeb1 de jul. de 2010 · Our exploration of the determinants of exchange rate regimes is centered on three main approaches that have long been part of the open economy … tsx index performance 2022