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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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Bibliographic Info

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. Levy-Yeyati, Eduardo & Sturzenegger, Federico, 2005. "Classifying exchange rate regimes: Deeds vs. words," European Economic Review, Elsevier, vol. 49(6), pages 1603-1635, August.
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  3. Esaka, Taro, 2000. "The Louvre Accord and central bank intervention: was there a target zone?," Japan and the World Economy, Elsevier, vol. 12(2), pages 107-126, May.
  4. repec:rus:hseeco:181565 is not listed on IDEAS
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  6. Hélène Poirson, 2001. "How Do Countries Choose their Exchange Rate Regime?," IMF Working Papers 01/46, International Monetary Fund.
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  10. Bertola, Giuseppe & Svensson, Lars E O, 1991. "Stochastic Devaluation Risk and the Empirical Fit of Target Zone Models," CEPR Discussion Papers 513, C.E.P.R. Discussion Papers.
  11. Jeffrey A. Frankel, 1999. "No Single Currency Regime is Right for All Countries or At All Times," NBER Working Papers 7338, National Bureau of Economic Research, Inc.
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  13. Lawrence H. Summers, 2000. "International Financial Crises: Causes, Prevention, and Cures," American Economic Review, American Economic Association, vol. 90(2), pages 1-16, May.
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  18. Coudert, Virginie & Dubert, Marc, 2005. "Does exchange rate regime explain differences in economic results for Asian countries?," Journal of Asian Economics, Elsevier, vol. 16(5), pages 874-895, October.
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  20. 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 E2003/33, Centro de Estudios Andaluces.
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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 2004-23, FEDEA.

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