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De facto exchange rate regime classifications: an evaluation

Bleaney, Michael; Tian, Mo; Yin, Lin

Authors

Michael Bleaney

MO TIAN Mo.Tian@nottingham.ac.uk
Assistant Professor

Lin Yin



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.

Citation

Bleaney, M., Tian, M., & Yin, L. (2017). De facto exchange rate regime classifications: an evaluation. Open Economies Review, 28(2), https://doi.org/10.1007/s11079-016-9427-7

Journal Article Type Article
Acceptance Date Oct 13, 2016
Online Publication Date Dec 7, 2016
Publication Date Apr 1, 2017
Deposit Date Jan 11, 2017
Publicly Available Date Jan 11, 2017
Journal Open Economies Review
Print ISSN 0923-7992
Electronic ISSN 1573-708X
Publisher Springer Verlag
Peer Reviewed Peer Reviewed
Volume 28
Issue 2
DOI https://doi.org/10.1007/s11079-016-9427-7
Keywords Exchange rate regimes; Trade; Volatility
Public URL https://nottingham-repository.worktribe.com/output/969851
Publisher URL http://link.springer.com/article/10.1007%2Fs11079-016-9427-7
Additional Information The final publication is available at Springer via http://dx.doi.org/10.1007/s11079-016-9427-7.

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