Showing 1 - 10 of 153
We investigate the choice of regime amongst hard pegs, soft pegs, managed floats and independent floats for a panel of developing countries. There is evidence of a matched ordering of regimes and country characteristics. We find some evidence for the 'balance sheet' hypothesis that foreign...
Persistent link: https://www.econbiz.de/10005496187
Real effective exchange rate volatility is examined for 90 countries using monthly data from January 1990 to June 2006. Volatility decreases with openness to international trade and per capita GDP, and increases with inflation, particularly under a horizontal peg or band, and with terms-of-trade...
Persistent link: https://www.econbiz.de/10005465032
Four different schemes for classifying exchange rate regimes are compared for developing countries. Disagreements are substantial, and alternative schemes disagree as much with each other as with the official scheme. Only the official scheme shows a trend towards floating
Persistent link: https://www.econbiz.de/10010836336
Four different schemes for classifying exchange rate regimes are compared for developing countries. Disagreements are substantial, and alternative schemes disagree as much with each other as with the official scheme. Only the official scheme shows a trend towards floating
Persistent link: https://www.econbiz.de/10005767609
Using data for 102 developing countries, it is shown that inflation persistence is particularly high in countries with severe inflationary problems, and particularly low in countries on hard pegs. Inflation persistence is similar under floating and soft pegs.
Persistent link: https://www.econbiz.de/10005771615
Official and four alternative regime classification schemes based on observed exchange rate behaviour are used to examine the relationship with inflation and growth in developing countries. For an identical sample of observations from 73 countries for 1984-2001, only the scheme based on parallel...
Persistent link: https://www.econbiz.de/10005607572
Using data from a large sample of developing countries from 1985 to 2001, we confirm that hard pegs (currency boards or a shared currency) reduce inflation and money growth. There is no evidence that soft pegs confer any monetary discipline, after other factors are controlled for. Inflation...
Persistent link: https://www.econbiz.de/10005609001
Official and four alternative regime classification schemes based on observed exchange rate behaviour are used to examine the relationship with inflation and growth in 91 developing countries over the period 1984-2001. Apart from one scheme that produces markedly unfavourable results for...
Persistent link: https://www.econbiz.de/10005751352
Previous research has suggested that pegged exchange rates are associated with lower inflation than floating rates. In which direction does the causality run? Using data from a large sample of developing countries from 1984 to 2000, we confirm that "hard" pegs (currency boards or a shared...
Persistent link: https://www.econbiz.de/10005827129
Real effective exchange rate volatility is examined for 90 countries using monthly data from January 1990 to June 2006. Volatility decreases with openness to international trade and per capita GDP, and increases with inflation, particularly under a horizontal peg or band, and with terms - of -...
Persistent link: https://www.econbiz.de/10005049626