Exchange Rate Regime Transitions:
The "hollowing-out," or "two poles" hypothesis is tested in the context of a Markov chain model of exchange rate transitions. In particular, two versions of the hypothesis-that hard pegs are an absorbing state, or that fixes and floats form a closed set, with no transitions to in...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2000
|
Schriftenreihe: | IMF Working Papers
Working Paper No. 00/134 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | The "hollowing-out," or "two poles" hypothesis is tested in the context of a Markov chain model of exchange rate transitions. In particular, two versions of the hypothesis-that hard pegs are an absorbing state, or that fixes and floats form a closed set, with no transitions to intermediate regimes-are tested using two alternative classifications of regimes. While there is some support for the lack of exits from hard pegs (i.e., that they are an absorbing state), the data generally indicate that the intermediate cases will continue to constitute a sizable proportion of actual exchange rate regimes |
Beschreibung: | 1 Online-Ressource (17 p) |
ISBN: | 1451855591 9781451855593 |
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spelling | Masson, Paul R. Verfasser aut Exchange Rate Regime Transitions Masson, Paul R Washington, D.C International Monetary Fund 2000 1 Online-Ressource (17 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 00/134 The "hollowing-out," or "two poles" hypothesis is tested in the context of a Markov chain model of exchange rate transitions. In particular, two versions of the hypothesis-that hard pegs are an absorbing state, or that fixes and floats form a closed set, with no transitions to intermediate regimes-are tested using two alternative classifications of regimes. While there is some support for the lack of exits from hard pegs (i.e., that they are an absorbing state), the data generally indicate that the intermediate cases will continue to constitute a sizable proportion of actual exchange rate regimes Online-Ausg http://elibrary.imf.org/view/IMF001/02192-9781451855593/02192-9781451855593/02192-9781451855593.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Masson, Paul R. Exchange Rate Regime Transitions |
title | Exchange Rate Regime Transitions |
title_auth | Exchange Rate Regime Transitions |
title_exact_search | Exchange Rate Regime Transitions |
title_exact_search_txtP | Exchange Rate Regime Transitions |
title_full | Exchange Rate Regime Transitions Masson, Paul R |
title_fullStr | Exchange Rate Regime Transitions Masson, Paul R |
title_full_unstemmed | Exchange Rate Regime Transitions Masson, Paul R |
title_short | Exchange Rate Regime Transitions |
title_sort | exchange rate regime transitions |
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