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EXCHANGE RATE REGIMES AND FISCAL PERFORMANCE. DO FIXED EXCHANGE RATE REGIMES GENERATE MORE DISCIPLINE THAN FLEXIBLE ONES?

Vuletin, Guillermo J. - Econometric Society - 2004

This paper analyzes the influence of exchange rate regimes on fiscal performance, focusing on the difference between fixed and flexible exchange rates. For these ends, a sample of 83 countries for the 1974-1998 period, the GMM methodology for dynamic proposal panel models proposed by Arellano...

Persistent link: https://www.econbiz.de/10005328952

The Impact of Exchange Rate Regimes on Real Exchange Rates: ABC and Mexico in the 1990s

Mulder, Nanno; Baldi, Anne-Laure - Econometric Society - 2004

This paper analyses the impact of exchange rate regimes on real exchange rates, as defined by the relative price of nontradables to tradables in Argentina, Brazil, Chile (ABC) and Mexico from 1990 to 2002. As identified by the empirical literature, the real exchange rate is determined in the...

Persistent link: https://www.econbiz.de/10005129777

FIxed, Float or Intermediate? A Cross-COuntry Time Series Analysis Of Exchange Rate Regimes

Uctum, Merih; Kato, Isamu - Econometric Society - 2004

Since the collapse of the Bretton Woods system in the early 1970s, the choice of the exchange rate regime has been the subject of a lively debate in international finance. In this study, we investigate the determinants of three exchange rate regimes (fixed, flexible and intermediate). Our...

Persistent link: https://www.econbiz.de/10005129806

The Yield Curve, Recession and the Credibility of the Monetary Regime: long run evidence 1875-1997

Bordo, Michael; Haubrich, Joseph - Econometric Society - 2004

related to the credibility of the monetary regime in place, something we measure by the persistence of inflation …

Persistent link: https://www.econbiz.de/10005063720

An Investigation of the Gains from Commitment in Monetary Policy

Tambalotti, Andrea; Schaumburg, Ernst - Econometric Society - 2004

degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary … measure of the (lack of) credibility of the monetary policy authority, we investigate the welfare effect of a marginal … increase in credibility. Our main finding is that, in a simple model of the monetary transmission mechanism, most of the gains …

Persistent link: https://www.econbiz.de/10005702683