Classifying Exchange Rate Regimes: Deeds vs. Words

Classifying Exchange Rate Regimes: Deeds vs. Words,Eduardo Levy-yeyati,Federico Sturzenegger

Classifying Exchange Rate Regimes: Deeds vs. Words   (Citations: 15)
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Published in 2003.
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    • ...Several schemes for automatic algorithms for classifying currency regimes have been proposed (Levy-Yeyati and Sturzenegger, 2003; Reinhart and Rogo , 2003)...

    Ajay Shahet al. What is the new Chinese currency regime?

    • ...where (6) suggests that the residual are heteroscedastic, (7) that are autocorrelated and...

    René Cabralet al. Does Inflation Targeting Matter for Emerging Market Economies?

    • ... bias under a ‡exible regime arises from the government incentives to engineer a surprise monetary expansion to drive employment, n; closer to its target, k. Assuming that trade unions have perfect foresight, minimizing the loss functions of each policymaker in (14) with respect to its own money supply, we obtain that the in‡ationary biases of the domestic and foreign economies for the ‡exible exchange rate regime are � = � � + � k (15)...
    • ...smaller than in the foreign when the domestic policymaker targets the same employment target as the foreign (compare (15) and (16) when k = k�)...
    • ...losses for the small economy in the absence of an in‡ation bias has been established in Proposition 3, we simply need to consider how the in‡ation bias in (15) changes with the parameters of interest: �, � and �. Di¤erentiating the domestic in‡ation bias with respect to these three parameters, we obtain that @q @� < 0, @q @� > 0 and...

    René Cabral-Torres. Assessing the Impact of Real Shocks on Small Dollarized Economies

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