منابع مشابه
Policy Time-Inconsistency: A Comparison of Managed Floating Exchange Rate and Controlled Exchange Rate Regimes
Some empirical and theoretical studies have emphasized on fixed exchange rate regime in controlling time inconsistency, while others consider the role of target zone regime as an important factor. Thus there is no general consensus to decide which exchange rate regime may bring about less time-inconsistency. The main purpose of this study is to investigate policy time-inconsistency in exchange ...
متن کاملRunning Head: EXCHANGE RATE REGIMES AND INTERANTIONAL RESERVES Exchange Rate Regimes and International Reserves
In this paper we use a new classification of exchange rate arrangements developed by Reinhart and Rogoff (2002) to test whether reserve holdings decrease with increasing exchange-rate flexibility. Using pooled data for 137 countries over the period 1980-2000, we find several new results. First, the degree of exchange rate flexibility has an inverted-U relationship with the country’s reserve hol...
متن کاملDollarization, Exchange Rate Regimes and Government Quality
The dollarization of the domestic banking system represents a source of vulnerability for emerging market countries, and a debate has emerged over whether the exchange rate regime has an impact on the degree of dollarization. This paper argues that the regime is far less important than the literature has previously claimed. Unofficial dollarization results from a lack of faith in the domestic c...
متن کاملExchange Rate Regimes: Classification and Consequences
1 The paper is based on our forthcoming book, Exchange Rate Regime, Choices and Consequences, MIT Press. The views expressed do not reflect the official views of the IMF.
متن کاملChoosing (and Reneging On) Exchange Rate Regimes
We use data on announced and actual exchange rate arrangements to ask which countries follow de facto regimes different from their de iure ones, that is, do not do what they say. Our results suggest that countries with poor institutional quality have difficulty in maintaining pegging and abandon it often. In contrast, many countries with relatively good institutions display fear of floating, th...
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ژورنال
عنوان ژورنال: ЗБОРНИК РАДОВА ЕКОНОМСКОГ ФАКУЛТЕТА У ИСТОЧНОМ САРАЈЕВУ
سال: 2014
ISSN: 1986-6690,1840-3557
DOI: 10.7251/zrefis1409097l