Choosing (and reneging on) exchange rate regimes / Alberto Alesina, Alexander Wagner.

Format:

Book

Author/Creator:

Alesina, Alberto.

Contributor:

National Bureau of Economic Research.

Wagner, Alexander, Ph. D.

Series:

Working Paper Series (National Bureau of Economic Research) no. w9809.

NBER working paper series no. w9809

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Choosing

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2003.

Summary:

We use data on announced and actual exchange rate arrangements to ask which countries follow de facto regimes different from their de iure ones, that is, do not do what they say. Our results suggest that countries with poor institutional quality have difficulty in maintaining pegging and abandon it more often. In contrast, countries with relatively good institutions display fear of floating, i.e. they manage more than announced, perhaps to signal their differences from those countries incapable of maintaining promises of monetary stability.

Notes:

Print version record

June 2003.