A theoretical framework, based on existing literature, which could serve as a guide for developing countries in choosing an appropriate exchange rate regime in the present system of generalized floating. The exchange rate regimes of the ASEAN countries are then evaluated in terms of the framework.

Not according to our data. We use two data sets to test whether professional forecasters follow uncovered interest rate parity (UIP) when making their exchange rate predictions both based on point prediction and direction. We find that professional forecasters generally do not follow UIP across...

This paper focuses on the risks accompanying a vibrant and expanding monetary system. It views in broad terms an apparent gap in economic analysis that seems to prevent any single answer to the paradox that a highly sophisticated payments system also seems to generate economic instability. The...