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Optimal choice of an exchange rate regime: a critical literature review

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  • Ouchen, Mariam

Abstract

This paper set out to review the main theories and empirical methods employed in selecting an appropriate exchange rate regime.In order to achieve this, the paper is organized as follows : Section 2 introduces the distinct classifications of exchange regimes(de jure exchange rate regimes versus the facto exchange rate regimes), and the different theoretical approaches which illustrate how an optimal exchange rate regime is determined . Despite their initial popularity, the theoretical considerations have not escaped criticism.Section 3 reviews the criticism of these theories.A conclusion is provided in Section 4.

Suggested Citation

  • Ouchen, Mariam, 2013. "Optimal choice of an exchange rate regime: a critical literature review," MPRA Paper 43907, University Library of Munich, Germany, revised 19 Jan 2013.
  • Handle: RePEc:pra:mprapa:43907
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    File URL: https://mpra.ub.uni-muenchen.de/43907/1/MPRA_paper_43907.pdf
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    References listed on IDEAS

    as
    1. Jeffrey A. Frankel, 2003. "Experience of and Lessons from Exchange Rate Regime in Emerging Economies," NBER Working Papers 10032, National Bureau of Economic Research, Inc.
    2. Michael D. Bordo, 2003. "Exchange Rate Regime Choice in Historical Perspective," IMF Working Papers 03/160, International Monetary Fund.
    3. Amartya Lahiri & Rajesh Singh & Carlos A. Vegh, 2007. "Optimal Exchange Rate Regimes: Turning Mundell-Fleming's Dictum on its Head," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 54(3), pages 249-270, September.
    4. Ricardo Hausmann & Michael Gavin & Carmen Pagés & Ernesto H. Stein, 1999. "Financial Turmoil and the Choice of Exchange Rate Regime," IDB Publications (Working Papers) 4128, Inter-American Development Bank.
    5. Ricardo Hausmann & Michael Gavin & Carmen Pagés-Serra & Ernesto H. Stein, 1999. "Financial Turmoil and Choice of Exchange Rate Regime," Research Department Publications 4170, Inter-American Development Bank, Research Department.
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    Cited by:

    1. Muhammad Naveed TAHIR & Faran ALI & Dawood MAMOON, 2016. "Appropriate Exchange Rate Regime for Economic Structure of Pakistan," Turkish Economic Review, KSP Journals, vol. 3(4), pages 629-641, December.

    More about this item

    Keywords

    Keywords : Exchange rate regime; the structural approach; credibility; flexibility; the bipolar view;

    JEL classification:

    • A30 - General Economics and Teaching - - Multisubject Collective Works - - - General

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