Implicit bands in the Spanish peseta/Deutschmark exchange rate, 1965-1998
The objective of this article is to identify implicit bands for the Spanish peseta/Deutschmark exchange rate. To this end, based on the 'natural' classification approach suggested by Reinhart and Rogoff (2004), we propose a statistical test to assess the statistical significance of the outcome of their classifying algorithm. The test is applied to the period 1965-1998, indicating our results existence of fluctuation bands in the 1980s and 1990s, before and after the entry of the peseta into the European Monetary System.
Year of publication: |
2007
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Authors: | Ledesma-Rodriguez, Francisco ; Navarro-Ibanez, Manuel ; Perez-Rodriguez, Jorge ; Sosvilla-Rivero, Simon |
Published in: |
Applied Financial Economics. - Taylor & Francis Journals, ISSN 0960-3107. - Vol. 17.2007, 11, p. 921-932
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Publisher: |
Taylor & Francis Journals |
Saved in:
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