Measuring exchange rate flexibility by regression methods

Bleaney, Michael and Tian, Mo (2017) Measuring exchange rate flexibility by regression methods. Oxford Economic Papers, 69 (1). pp. 301-319. ISSN 1464-3812

Full text not available from this repository.

Abstract

A new and easily implemented regression method is proposed for generating an index of exchange rate flexibility, whilst simultaneously identifying anchors of pegged currencies. The method can distinguish floats from pegs, including those with occasional devaluations. An annual index is calculated that can be compared with other regime classification schemes, or used directly in empirical research as a measure of exchange rate flexibility. Different categories in the IMF’s de facto classification, and also in the Reinhart-Rogoff classification, are associated with significantly different average values of the index. Further analysis of managed floats shows that they have a strong tendency to track the US dollar.

Item Type: Article
RIS ID: https://nottingham-repository.worktribe.com/output/830510
Keywords: exchange rates, currency pegs, trade
Schools/Departments: University of Nottingham, UK > Faculty of Social Sciences > School of Economics
Identification Number: https://doi.org/10.1093/oep/gpw029
Depositing User: Eprints, Support
Date Deposited: 30 Jun 2016 13:00
Last Modified: 04 May 2020 18:22
URI: http://eprints.nottingham.ac.uk/id/eprint/34558

Actions (Archive Staff Only)

Edit View Edit View