De facto exchange rate regime classifications: an evaluation

Bleaney, Michael and Tian, Mo and Yin, Lin (2016) De facto exchange rate regime classifications: an evaluation. Open Economies Review . ISSN 1573-708X

[img] PDF - Repository staff only until 7 December 2017. - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
Download (312kB)

Abstract

There exist several statistically-based exchange rate regime classifications that disagree with one another to a disappointing degree. To what extent is this a matter of the quality of the design of these schemes, and to what extent does it reflect the need to supplement statistics with other information (as is done in the IMF’s de facto classification)? It is shown that statistical methods are good at the basics (distinguishing some type of peg from some type of float), but less helpful in other respects, such as determining whether a float is managed, particularly for countries that are not very remote from their main trading partners. Different measures of exchange rate volatility have been used but are not primarily responsible for differences between classifications. The theoretical underpinning of particular classification schemes needs to be more explicit.

Item Type: Article
Additional Information: The final publication is available at Springer via http://dx.doi.org/10.1007/s11079-016-9427-7.
Keywords: Exchange rate regimes; Trade; Volatility
Schools/Departments: University of Nottingham, UK > Faculty of Social Sciences > School of Economics
Identification Number: https://doi.org/10.1007/s11079-016-9427-7
Depositing User: Eprints, Support
Date Deposited: 11 Jan 2017 09:30
Last Modified: 12 Jan 2017 20:33
URI: http://eprints.nottingham.ac.uk/id/eprint/39754

Actions (Archive Staff Only)

Edit View Edit View