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Choice of an Exchange Rate Regime: the Role of Optimum Currency Area Theory
Competitio, 2021 This lecture deals with the problem of the choice of exchange rate regime for fiat and fully convertible currencies. We begin with a review of different types of exchange rate regimes and discuss the difference between de jure and de facto regimes.
Julius Horvath
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The Endogeneity of Exchange-Rate Regimes [PDF]
, 2021 The international monetary system has passed through a succession of phases characterized alternatively by the dominance of fixed and flexible exchange rates. How are these repeated shifts between fixed and flexible rate regimes to be understood? The present paper specifies and tests six hypotheses with the capacity to explain the alternating phases of
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Ukrainian hryvnia under the floating exchange rate regime: diagnostics of the USD/UAH exchange rate dynamics [PDF]
Banks and Bank Systems, 2020 The study identifies the features of the USD/UAH exchange rate dynamics for the period from January 2014 to May 2020. The main purpose of the empirical analysis is to determine the current trend of the USD/UAH exchange rate (is it random or permanent ...
Anzhela Ignatyuk +3 more
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Pegged Exchange Rate Regimes - A Trap? [PDF]
SSRN Electronic Journal, 2005 We analyze the role of an exchange rate peg as a commitment mechanism to achieve inflation stability when multiple equilibria are possible. We show that there are ex ante large gains from choosing a more conservative regime not only in order to mitigate inflation bias from time inconsistency but also to avoid high inflation equilibria.
Aizenman, Joshua, Glick, Reuven
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EXCHANGE RATE REGIMES CHOICE AND THEIR CLASIFFICATION [PDF]
Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie, 2020 Traditional monetary systems characterized by fixed rates have often caused currency crises. From the exchange rate regimes classification, we find that, as much as the level of developenet grow, the institutions become more mature, and the level of ...
HANDRO (MERCEA) PATRICIA AMALIA
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Comparing the different types of Markov switching model for Euro to Iran Rial exchange rate [PDF]
Mathematics and Modeling in Finance, 2021 According to the rule of equality of equal prices, the price of a foreign commodity within a country depends on the price of the commodity at the origin as well as the exchange rate of that country.
Mahdi Pourrafiee +3 more
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Exchange Rate Regimes and Location [PDF]
IMF Working Papers, 1997 This paper investigates the effects of fixed versus flexible exchange rates on firms’ location choices and on countries’ specialization patterns. In a two-country, two-differentiated-goods monetary model, demand, supply, and monetary (as well as exchange rate) shocks arise after wages are set and prices are optimally chosen.
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On Exchange Rate Regimes, Exchange Rate Fluctuations, and Fundamentals [PDF]
Working paper (Federal Reserve Bank of Philadelphia), 1999 We develop a two-country, two-sector general equilibrium business cycle model with nominal rigidities featuring deviations from the law of one price. The paper shows that a model with these features can quantitatively account for the empirical fact that of the statistical properties of most macroeconomic variables, only the volatility of the real and ...
Luca Dedola, Sylvain Leduc
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Choosing (and Reneging on) Exchange Rate Regimes [PDF]
SSRN Electronic Journal, 2003 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.
Alexander F. Wagner +3 more
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Malaysian Management Journal, 2020 This study examined the insulation properties of flexible exchange rate regime and fixed exchange rate regime in response to the oil price shocks in Malaysia.
Fumitaka Furuoka +3 more
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