After the Deluge: Do Fixed Exchange Rates Allow Inter-temporal Volatility Trade-offs?

This paper addresses the issue of whether regimes of fixed exchange rates are a mechanism for shifting volatility inter-temporally. Using a panel of data covering 20 industrialized countries from 1959 through 1993, I examine the volatilities of a host of real and monetary variables. Graphical and statistical examination of the periods around 33 flotations and 81 devaluations reveals little evidence of significant increases in volatility following these events.

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Year of publication:	1995-09
Authors:	Rose, Andrew K
Institutions:	C.E.P.R. Discussion Papers
Subject:	Devaluation \| Flotation \| Macroeconomic \| Panel \| Standard deviation

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 1240
Classification:	F31 - Foreign Exchange ; F33 - International Monetary Arrangements and Institutions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005661517