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Regímenes cambiarios de facto y de iure. Una aplicación al tipo de cambio yen/dólar

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  • Francisco Ledesma-Rodríguez
  • Manuel Navarro-Ibáñez
  • Jorge Pérez-Rodríguez
  • Simón Sosvilla-Rivero

Abstract

Este trabajo trata de identificar regímenes de cambio implícitos mediante el uso de procedimientos estadísticos. En particular, empleamos tres técnicas alternativas propuestas recientemente en este área de investigación: el índice de flexibilidad del tipo de cambio de Poirson (2001), el algoritmo diseñado por Reinhart y Rogoff (2002) para detectar bandas de fluctuación, y el procedimiento secuencial de Coudert y Dubert (2003) para identificar regímenes cambiarios. Estas tres técnicas se aplican al tipo de cambio yen/dólar para el período 1971-2003

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Paper provided by FEDEA in its series Working Papers with number 2004-10.

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Handle: RePEc:fda:fdaddt:2004-10

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  1. Reinhart, Carmen & Calvo, Guillermo, 2002. "Fear of floating," MPRA Paper 14000, University Library of Munich, Germany.
  2. Barry Eichengreen, 2000. "The EMS Crisis in Retrospect," NBER Working Papers 8035, National Bureau of Economic Research, Inc.
  3. Lawrence H. Summers, 2000. "International Financial Crises: Causes, Prevention, and Cures," American Economic Review, American Economic Association, American Economic Association, vol. 90(2), pages 1-16, May.
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  11. Francisco Ledesma-Rodríguez & Manuel Navarro-Ibáñez & Jorge Pérez-Rodríguez & Simón Sosvilla-Rivero, 2003. "On the Credibility of a Target Zone: Evidence from the EMS," Economic Working Papers at Centro de Estudios Andaluces, Centro de Estudios Andaluces E2003/33, Centro de Estudios Andaluces.
  12. Enrique Alberola & Luis Molina, 2004. "What does really discipline fiscal policy in emerging markets? The role and dynamics of exchange rate regimes," Banco de Espa�a Working Papers, Banco de Espa�a 0402, Banco de Espa�a.
  13. Andres Velasco & Roberto Chang, 2000. "Exchange-Rate Policy for Developing Countries," American Economic Review, American Economic Association, American Economic Association, vol. 90(2), pages 71-75, May.
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  17. repec:rus:hseeco:181565 is not listed on IDEAS
  18. Esaka, Taro, 2000. "The Louvre Accord and central bank intervention: was there a target zone?," Japan and the World Economy, Elsevier, Elsevier, vol. 12(2), pages 107-126, May.
  19. Levy-Yeyati, Eduardo & Sturzenegger, Federico, 2005. "Classifying exchange rate regimes: Deeds vs. words," European Economic Review, Elsevier, Elsevier, vol. 49(6), pages 1603-1635, August.
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Cited by:
  1. Simon Sosvilla-Rivero & Pedro N. Rodríguez, . "Linkages in international stock markets: Evidence from a classification procedure," Working Papers, FEDEA 2004-23, FEDEA.

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