Choosing (and Reneging on) Exchange Rate Regimes

Abstract

We use data on announced and actual exchange rate arrangements to ask which countries follow de facto regimes different from their de iure ones, that is, do not do what they say. Our results suggest that countries with poor institutional quality have difficulty in maintaining pegging and abandon it often. In contrast, many countries with relatively good institutions display fear of floating, that is, they manage more than announced, perhaps to signal their differences from those countries incapable of maintaining promises of monetary stability.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 152 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.