Evolution of Exchange Rate Regimes
Issues relating to the evolution of exchange rate regimes are examined. Empirical regularities concerning the variation over time of real and monetary disturbances and cross-country inflation differentials are first discussed. The paper then develops a model that incorporates these regularities and thereby enables exchange rate regime changes to be viewed as optimal and predictable responses by policymakers to a changing economic environment.
Year of publication: |
1989
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Authors: | Flood, Robert P. ; Bhandari, Jagdeep S. ; Horne, Jocelyn P. |
Published in: |
IMF Staff Papers. - Palgrave Macmillan, ISSN 1020-7635. - Vol. 36.1989, 4, p. 810-835
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Publisher: |
Palgrave Macmillan |
Saved in:
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