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| Tekijä: | Alesina, A. Wagner, A. F. |
| Otsikko: | Choosing (and reneging on) exchange rate regimes |
| Lehti: | Journal of the European Economic Association
2006 : JUN, VOL. 4:4, p. 770-799 |
| Asiasana: | exchange rates monetary system |
| Kieli: | eng |
| Tiivistelmä: | This study uses 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 what they say. The results suggest that countries with poor institutional quality have difficulty in maintaining pegging and abandon it often. On the contrary, 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. |
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