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

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Sosvilla-Rivero, Simón and 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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Official URL: http://eprints.sim.ucm.es/37319/




Abstract

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.


Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Exchange-rate regimes; Implicit fluctuation bands; Exchange rates
Subjects:Social sciences > Economics > Commerce
Social sciences > Economics > World economy
JEL:F31, F33
Series Name:Working Papers
Volume:2015
Number:02
ID Code:37319
Deposited On:29 Apr 2016 12:28
Last Modified:17 Feb 2017 13:26

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