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De Facto Exchange Rate Regime Classifications Are Better Than You Think

Author

Listed:
  • Michael Bleaney
  • Mo Tian
  • Lin Yin

Abstract

Several de facto exchange rate regime classifications have been widely used in empirical research, but they are known to disagree with one another to a disturbing extent. We dissect the algorithms employed and argue that they can be significantly improved. We implement the improvements, and show that there is a far higher agreement rate between the modified classifications. We conclude that the current pessimism about de facto exchange rate regime classification schemes is unwarranted.

Suggested Citation

  • Michael Bleaney & Mo Tian & Lin Yin, 2015. "De Facto Exchange Rate Regime Classifications Are Better Than You Think," Discussion Papers 15/01, University of Nottingham, School of Economics.
    • Handle: RePEc:not:notecp:15/01
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    File URL: https://www.nottingham.ac.uk/economics/documents/discussion-papers/SDP15-01.pdf
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    Cited by:

    1. Carl Grekou & Cécile Couharde, 2020. "The Fata Morgana of Exchange Rate Regimes: Reconciling the LYS and the RR classifications," Working Papers hal-04159684, HAL.
    2. Cécile Couharde & Carl Grekou, 2021. "Better Two Eyes than One: A Synthesis Classification of Exchange Rate Regimes," Working Papers 2021-07, CEPII research center.

    More about this item

    Keywords

    exchange rate regimes; trade; volatility JEL codes: F31;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange

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