Exchange Rate Regime Classication

Olivier Darné

Description

Niveau: Supérieur, Doctorat, Bac+8
Exchange Rate Regime Classication and Real Performances: New empirical evidence Olivier DARNÉ and Laetitia RIPOLL-BRESSON LAMETA-CNRS, University of Montpellier I Abstract This study investigates the link between real performances and the ex- change rate arrangement depending on alternative exchange rate regime classications: the ocial one (IMF) and two de facto, a statistical one proposed by Levy-Yeyati and Sturzenegger (2000a) (LYS) and an histori- cal one suggested by Bubula and Ötker-Robe (2002) (BOR). Some studies consider that major economic and political events represent main shocks on economic time series. These shocks may be detected in using out- lier methodology. Hence, we identify outliers for fourteen West African countries in ination and growth series. Assuming that outliers may be associated with exchange rate regime shifts, we compare issues depending on the three classications. Our results conrm two main things: rst, there is a strong relationship between exchange rate arrangement and real performances; second, de facto classications have to be taken into ac- count to improve empirical studies relative to the choice of exchange rate regime and its impact on real performances. Keywords: Exchange rate regime, de jure and de facto classications, ination, growth, outliers and shocks.

• ocial classication


• exchange rate


• classications


• countries over


• divergence between


• alternative classications available


• classication annually


• facto regimes


• alternative de facto classications

Sujets

• Baxter
• Exchange rate

Informations

• Publié par: profil-zyak-2012
• Nombre de lectures: 23
• Langue: English

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