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Multiple structural regimes in real exchange rate misalignment: the case of Australian dollar

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  • Jean-Francois Hoarau
  • Ibrahim Ahamada
  • Alain Nurbel

Abstract

We apply the Bai and Perron method (Econometrica, 1998, 66, 47-78) to search for several structural changes in the real exchange rate misalignment data of the Australian dollar over January 1976 to February 2000. Then, the estimated structural breaks dates are compared with Australian monetary and exchange rate regimes from 1976. This brings us to conclude that a good monetary management is needed to face real exchange rate distortions. Besides, implementing a policy-mix by combining an inflation targeting policy and a dirty flexible exchange rate policy turns out to be really effective to struggle real misalignments as far as Australia is concerned.

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File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/13504850600721908&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 15 (2007)
Issue (Month): 2 ()
Pages: 101-104

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Handle: RePEc:taf:apeclt:v:15:y:2007:i:2:p:101-104

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Cited by:
  1. Sengül Dagdeviren & Ayla Ogu? Binatli & Niloufer Sohrabji, 2012. "Misalignment Under Different Exchange Rate Regimes: the Case of Turkey," Economie Internationale, CEPII research center, issue 130, pages 81-98.

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