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An empirical assessment of alternative exchange rate regimes in medium term in Albania

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  • Kola, Tonin
  • Liko, Elida

Abstract

This paper examines the alternative exchange rate regimes and their feasibility to be applied in Albania in medium term. In all empirical work done until now is been found a very low relationship between money and inflation in Albania before and after using the indirect instruments of monetary control. As a result, the motivation for finding other strategies for monetary policy and exchange rate policy is strong and has opened the debate of practitioners in this field. We argue that moving from freely floating exchange rate regime and informal IT strategy in formal IT strategy would be a more preferable strategy that will deal better with the fragile sustainability of current account deficit in Albania but not without problems to be applied.

Suggested Citation

  • Kola, Tonin & Liko, Elida, 2008. "An empirical assessment of alternative exchange rate regimes in medium term in Albania," BERG Working Paper Series 58, Bamberg University, Bamberg Economic Research Group.
  • Handle: RePEc:zbw:bamber:58
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    Cited by:

    1. Bexheti, Abdulmenaf, 2010. "Anti-crisis measures in the republic of Macedonia and their effects: Are they sufficient?," BERG Working Paper Series 70, Bamberg University, Bamberg Economic Research Group.
    2. Bexheti, Abdylmenaf & Mustafi, Besime, 2015. "Impact of public funding of education on economic growth in Macedonia," BERG Working Paper Series 98, Bamberg University, Bamberg Economic Research Group.
    3. Reiner Franke & Frank Westerhoff, 2016. "Why a simple herding model may generate the stylized facts of daily returns: explanation and estimation," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 11(1), pages 1-34, April.
    4. Schmitt, Noemi & Tuinstra, Jan & Westerhoff, Frank, 2017. "Side effects of nonlinear profit taxes in an evolutionary market entry model: Abrupt changes, coexisting attractors and hysteresis problems," Journal of Economic Behavior & Organization, Elsevier, vol. 135(C), pages 15-38.
    5. Lena Dräger & Christian R. Proaño, 2015. "Cross-Border Banking and Business Cycles in Asymmetric Currency Unions," Macroeconomics and Finance Series 201501, University of Hamburg, Department of Socioeconomics.
    6. Fatoke-Dato, Mafaïzath A., 2015. "Impact of income shock on children's schooling and labor in a West African country," BERG Working Paper Series 102, Bamberg University, Bamberg Economic Research Group.
    7. Gervai, Pál & Trautmann, László & Wieszt, Attila, 2010. "The mission and culture of the corporation," BERG Working Paper Series 74, Bamberg University, Bamberg Economic Research Group.
    8. Kächelein, Holger & Imami, Drini & Lami, Endrit, 2008. "A new view into political business cycles: Household expenditures in Albania," BERG Working Paper Series 60, Bamberg University, Bamberg Economic Research Group.
    9. Proaño, Christian R. & Lojak, Benjamin, 2015. "Debt stabilization and macroeconomic volatility in monetary unions under heterogeneous sovereign risk perceptions," BERG Working Paper Series 106, Bamberg University, Bamberg Economic Research Group.
    10. Fatoke-Dato, Mafaïzath A., 2015. "Impact of an educational demand-and-supply policy on girls' education in West Africa: Heterogeneity in income, school environment and ethnicity," BERG Working Paper Series 101, Bamberg University, Bamberg Economic Research Group.
    11. Meyer, Dietmar & Shera, Adela, 2015. "Remittances' impact on the labor supply and on the deficit of current account," BERG Working Paper Series 97, Bamberg University, Bamberg Economic Research Group.
    12. Imami, Drini & Lami, Endrit & Kächelein, Holger, 2011. "Political cycles in income from privatization: The case of Albania," BERG Working Paper Series 77, Bamberg University, Bamberg Economic Research Group.
    13. Alfarano Simone & Milakovic Mishael, 2012. "Identification of Interaction Effects in Survey Expectations: A Cautionary Note," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 16(4), pages 1-23, October.
    14. repec:taf:quantf:v:17:y:2017:i:8:p:1187-1203 is not listed on IDEAS
    15. Schmitt, Noemi & Westerhoff, Frank, 2015. "Evolutionary competition and profit taxes: market stability versus tax burden," BERG Working Paper Series 104, Bamberg University, Bamberg Economic Research Group.
    16. Franke, Reiner & Westerhoff, Frank, 2012. "Structural stochastic volatility in asset pricing dynamics: Estimation and model contest," Journal of Economic Dynamics and Control, Elsevier, vol. 36(8), pages 1193-1211.
    17. Carsten Eckel, 2009. "International Trade and Retailing," CESifo Working Paper Series 2597, CESifo Group Munich.
    18. Noemi Schmitt & Frank Westerhoff, 2017. "Herding behaviour and volatility clustering in financial markets," Quantitative Finance, Taylor & Francis Journals, vol. 17(8), pages 1187-1203, August.
    19. Seregi, János & Lelovics, Zsuzsanna & Balogh, László, 2012. "The social welfare function of forests in the light of the theory of public goods," BERG Working Paper Series 87, Bamberg University, Bamberg Economic Research Group.

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