Implicit exchange regimes in Central and Eastern Europe: A first exploration

This paper attempts to identify implicit exchange rate regimes for currencies of the Central and Eastern European Countries vis-à-vis the euro. To that end, we apply a sequential procedure that considers the dynamics of exchange rates to data covering the period from 1977:01 to 2006:02. Our results...

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Detalhes bibliográficos
Autores: Ledesma Rodríguez, Francisco, Pérez Rodriguez, Jorge, Sosvilla Rivero, Simón Javier
Formato: artículo
Fecha de publicación:2009
País:España
Recursos:Universidad Complutense de Madrid (UCM)
Repositorio:Docta Complutense
Idioma:inglés
OAI Identifier:oai:docta.ucm.es:20.500.14352/52415
Acesso em linha:https://hdl.handle.net/20.500.14352/52415
Access Level:acceso abierto
Palavra-chave:F31
F33
Exchange rate regimes
Implicit fluctuation bands
Exchange rates.
Economía internacional
5310 Economía Internacional
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oai_identifier_str oai:docta.ucm.es:20.500.14352/52415
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repository_id_str
spelling Implicit exchange regimes in Central and Eastern Europe: A first explorationLedesma Rodríguez, FranciscoPérez Rodriguez, JorgeSosvilla Rivero, Simón JavierF31F33Exchange rate regimesImplicit fluctuation bandsExchange rates.Economía internacional5310 Economía InternacionalThis paper attempts to identify implicit exchange rate regimes for currencies of the Central and Eastern European Countries vis-à-vis the euro. To that end, we apply a sequential procedure that considers the dynamics of exchange rates to data covering the period from 1977:01 to 2006:02. Our results would suggest that implicit bands have existed in many subperiods for almost all currencies under study. Once we detect de facto discrepancies between de facto and de iure exchange rate regimes, we propose a model in order to explain these decisions. Our results suggest a positive association between the previous inflation rate and the probability of a peg with the euro, and a negative association with past unemployment rate.Springer NatureUniversidad Complutense de Madrid20092009-01-0120092009-01-01journal articlehttp://purl.org/coar/resource_type/c_6501info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/20.500.14352/52415reponame:Docta Complutenseinstname:Universidad Complutense de Madrid (UCM)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccessoai:docta.ucm.es:20.500.14352/524152026-06-02T12:44:21Z
dc.title.none.fl_str_mv Implicit exchange regimes in Central and Eastern Europe: A first exploration
title Implicit exchange regimes in Central and Eastern Europe: A first exploration
spellingShingle Implicit exchange regimes in Central and Eastern Europe: A first exploration
Ledesma Rodríguez, Francisco
F31
F33
Exchange rate regimes
Implicit fluctuation bands
Exchange rates.
Economía internacional
5310 Economía Internacional
title_short Implicit exchange regimes in Central and Eastern Europe: A first exploration
title_full Implicit exchange regimes in Central and Eastern Europe: A first exploration
title_fullStr Implicit exchange regimes in Central and Eastern Europe: A first exploration
title_full_unstemmed Implicit exchange regimes in Central and Eastern Europe: A first exploration
title_sort Implicit exchange regimes in Central and Eastern Europe: A first exploration
dc.creator.none.fl_str_mv Ledesma Rodríguez, Francisco
Pérez Rodriguez, Jorge
Sosvilla Rivero, Simón Javier
author Ledesma Rodríguez, Francisco
author_facet Ledesma Rodríguez, Francisco
Pérez Rodriguez, Jorge
Sosvilla Rivero, Simón Javier
author_role author
author2 Pérez Rodriguez, Jorge
Sosvilla Rivero, Simón Javier
author2_role author
author
dc.contributor.none.fl_str_mv Universidad Complutense de Madrid
dc.subject.none.fl_str_mv F31
F33
Exchange rate regimes
Implicit fluctuation bands
Exchange rates.
Economía internacional
5310 Economía Internacional
topic F31
F33
Exchange rate regimes
Implicit fluctuation bands
Exchange rates.
Economía internacional
5310 Economía Internacional
description This paper attempts to identify implicit exchange rate regimes for currencies of the Central and Eastern European Countries vis-à-vis the euro. To that end, we apply a sequential procedure that considers the dynamics of exchange rates to data covering the period from 1977:01 to 2006:02. Our results would suggest that implicit bands have existed in many subperiods for almost all currencies under study. Once we detect de facto discrepancies between de facto and de iure exchange rate regimes, we propose a model in order to explain these decisions. Our results suggest a positive association between the previous inflation rate and the probability of a peg with the euro, and a negative association with past unemployment rate.
publishDate 2009
dc.date.none.fl_str_mv 2009
2009-01-01
2009
2009-01-01
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14352/52415
url https://hdl.handle.net/20.500.14352/52415
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Springer Nature
publisher.none.fl_str_mv Springer Nature
dc.source.none.fl_str_mv reponame:Docta Complutense
instname:Universidad Complutense de Madrid (UCM)
instname_str Universidad Complutense de Madrid (UCM)
reponame_str Docta Complutense
collection Docta Complutense
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,301603

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