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De facto exchange-rate regimes in Central and Eastern European Countries

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Sosvilla-Rivero, Simón y Ramos-Herrera, María del Carmen (2015) De facto exchange-rate regimes in Central and Eastern European Countries. [ Working Papers; nº 02, 2015, ]

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URL Oficial: http://eprints.sim.ucm.es/37319/


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Resumen

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.


Tipo de documento:Documento de trabajo o Informe técnico
Palabras clave:Exchange-rate regimes; Implicit fluctuation bands; Exchange rates
Materias:Ciencias Sociales > Economía > Comercio
Ciencias Sociales > Economía > Economía internacional
JEL:F31, F33
Título de serie o colección:Working Papers
Volumen:2015
Número:02
Código ID:37319
Depositado:29 Abr 2016 12:28
Última Modificación:17 Feb 2017 13:26

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