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Choosing and Assessing Exchange Rate Regimes: a Survey of the Literature

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  • Alexis Cruz-Rodriguez

    (Pontificia Universidad Católica Madre y Maestra)

Abstract

This paper attempts to provide a comprehensive overview on the theoretical and empirical analysis of the selection and assessment of exchange rate regimes. The literature can be divided into two main groups: classical and modern. The first group refers to earlier studies examining the differences between floating and fixed exchange rate regimes. The second group is focused on the trade-off between credibility and flexibility, the economic performance and currency crisis, among others. In addition, this paper reviews why many countries follow de facto regimes different from their de jure regimes.

Suggested Citation

  • Alexis Cruz-Rodriguez, 2013. "Choosing and Assessing Exchange Rate Regimes: a Survey of the Literature," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 28(2), pages 37-61, October.
    • Handle: RePEc:ila:anaeco:v:28:y:2013:i:2:p:37-61
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    Keywords

    Exchange rate; currency crisis; optimal currency area;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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