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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.

Journal Article Type Article
Publication Date Apr 1, 2017
Journal Open Economies Review
Print ISSN 0923-7992
Electronic ISSN 1573-708X
Publisher Springer Verlag
Peer Reviewed Peer Reviewed
Volume 28
Issue 2
APA6 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
DOI https://doi.org/10.1007/s11079-016-9427-7
Keywords Exchange rate regimes; Trade; Volatility
Publisher URL http://link.springer.com/article/10.1007%2Fs11079-016-9427-7
Copyright Statement Copyright information regarding this work can be found at the following address: http://eprints.nottingh.../end_user_agreement.pdf
Additional Information The final publication is available at Springer via http://dx.doi.org/10.1007/s11079-016-9427-7.

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Copyright Statement
Copyright information regarding this work can be found at the following address: http://eprints.nottingham.ac.uk/end_user_agreement.pdf





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