Obstfeld, Maurice; Ostry, Jonathan David; Qureshi, … - 2017
This paper examines the claim that exchange rate regimes are of little salience in the transmission of global financial … 1986-2013. Our findings show that exchange rate regimes do matter. Countries with fixed exchange rate regimes are more … exchange rate regimes relative to more flexible (though not necessarily fully flexible) regimes. We attribute this to both …