Coudert, Virginie; Couharde, Cécile - In: Review of International Economics 17 (2009) 1, pp. 121-136
Pegged exchange rates are often pointed out as more prone to risk of overvaluation, because their real exchange rates have a tendency to appreciate. We check this assumption empirically over a large sample of emerging and developing countries, by using two databases for <i>de facto</i> classifications...