We propose a new estimation technique to deal with missing response variables in the context of a nested multinomial logit model. Survey data often have a significant number of incomplete or missing responses. If such data are systematically missing (i.e., not missing at random) and if such...

We propose an econometric procedure for obtaining de facto exchange rate regime classifications which we apply to study the relationship between exchange rate regimes and economic growth. Our classification method models the de jure regimes as outcomes of a multinomial logit choice problem...

We propose an econometric procedure for obtaining de facto exchange rate regime classifications which we apply to study the relationship between exchange rate regimes and economic growth. Our classification method models the de jure regimes as outcomes of a multinomial logit choice problem...

This paper proposes a new explanationfor the UIP puzzle by analyzing a large number of cross-country bilateral exchange rates in two dimensions, cross-sectional and time-series. The exchange rates analyzed here includes a broad spectrum of developed and developing countries. The UIP relationship...

This paper investigates the structural differences of the free floating exchange rate regime after the economic crisis compared to the managed float exchange rate regime before the economic crisis. This paper focuses on the relationship between exchange rates and economic fundamentals. It is...

Korea provides a unique opportunity to study the different behaviors or roles, if any, of limited flexibility and free floating exchange rate regimes. Korea shifted from a limited flexibility to a free floating exchange rate regime after the 1997 economic crisis. It is well documented that the...

This paper proposes a different empirical approach to estimate the UIP by analyzing a large number of cross-country bilateral exchange rates using cross-section analysis. Different from conventional time-series UIP, cross-sectional UIP is examined with single equation estimation and panel...