Classifying Exchange Rate Regimes by Regression Methods
AbstractA new and easily implemented regression method is proposed for distinguishing floating from pegged regimes, whilst simultaneously identifying anchors of pegged currencies. The method can distinguish pegs with occasional devaluations from floats, and can be used to generate annual regime classifications. The method largely confirms the accuracy of the IMF’s de facto classification, but also shows that a significant minority of managed floats is close to being US dollar pegs. Even flexible managed floats have a strong tendency to track the US dollar.
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Bibliographic InfoPaper provided by University of Nottingham, School of Economics in its series Discussion Papers with number 14/02.
Date of creation: Apr 2014
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Postal: School of Economics University of Nottingham University Park Nottingham NG7 2RD
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Web page: http://www.nottingham.ac.uk/economics/
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exchange rates; currency pegs; trade JEL codes: F31;
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- F31 - International Economics - - International Finance - - - Foreign Exchange
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