An Analysis of Exchange Rate Regime Duration
The analysis of mean duration of exchange rate regime reveals that overall durability of regimes has been declining since the 1970s. The durability of intermediate regimes has decreased to the lowest in the 1990s than those in the 1970s and 1980s, which provides a basis for the hollowing out hypothesis. The changing pattern of regime distribution might be associated with the changing pattern of developmental stage.
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- Reinhart, Carmen & Rogoff, Kenneth, 2004.
"The modern history of exchange rate arrangements: A reinterpretation,"
14070, University Library of Munich, Germany.
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00/134, International Monetary Fund.
- 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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