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Título:
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De facto exchange-rate regimes in Central and Eastern European Countries
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Autores:
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Sosvilla-Rivero, Simón ;
Ramos-Herrera, María del Carmen
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Tipo de documento:
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texto impreso
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Editorial:
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Instituto Complutense de Estudios Internacionales, 2015
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Dimensiones:
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application/pdf
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Nota general:
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cc_by_nc
info:eu-repo/semantics/openAccess
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Idiomas:
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Palabras clave:
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Estado = Publicado
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Materia = Ciencias Sociales: Economía: Comercio
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Materia = Ciencias Sociales: Economía: Economía internacional
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Tipo = Documento de trabajo o Informe técnico
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Resumen:
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This paper attempts to identify implicit exchange rate regimes for currencies of new European Union (EU) countries vis-à-vis the euro. To that end, we apply three sequential procedures that consider the dynamics of exchange rates to data covering the period from 1999:01 to 2012:12. Our results would suggest that implicit bands have existed in many sub-periods for almost all currencies under study. This paper provides new empirical evidence that strengthens the hypothesis of that the implemented policies differ from those announced by the monetary authorities, identifying the existence of de facto fixed monetary systems along large number of sub-periods for different currencies.
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En línea:
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https://eprints.ucm.es/37319/1/WP15-02.pdf
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