Choice of exchange rate regime and currency zones

International Review of Economics and Finance

Volumn 17, Issue 3, 2008, Pages 436-456

  Kato, Isamu ^a   Uctum, Merih ^a,b  

^a CITY UNIVERSITY OF NEW YORK   (United States)

^b CITY UNIVERSITY OF NEW YORK   (United States)

Author keywords

Currency crises; Discrete choice model; Exchange rate regimes; Optimum currency area

Indexed keywords

EID: 43849103980     PISSN: 10590560     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.iref.2007.01.004     Document Type: Article

References (31)

1. Arellano M., and Bond S. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies 58 2 (1991) 277-297
2. Blomberg B., Frieden J., and Stein E. Sustaining fixed rates: The political economy of currency pegs in Latin America. Journal of Applied Economics 8 2 (2005) 203-225
3. Bosco L. Determinants of the exchange rate regimes in LDCs: Some empirical evidence. Economic Notes 1 (1987) 110-143
4. Bubula A., and Otker-Robe I. Evolution of exchange rate regimes since 1990: Evidence from de facto policies (2002) IMF WP/02/155
5. Butler J., and Moffitt R. A computationally efficient quadrature procedure for the one factor multinomial probit model. Econometrica 50 (1982) 761-764
6. Calvo G., and Reinhart C. Fear of floating. Quarterly Journal of Economics 117 (2002) 379-408
7. Collins S. On becoming more flexible: Exchange rate regimes in Latin America and the Caribbean. Journal of Development Economics 51 (1996) 117-138
8. Dreyer J.S. Determinants of exchange-rate regimes for currencies of developing countries: Some preliminary results. World Development 6 (1978) 437-445
9. Edwards, S. (1996) The determinants of the choice between fixed and flexible exchange-rate regimes. Inc, NBER Working Paper No. 5756
10. Eichengreen B., Rose A., and Wyplosz C. Contagious currency crises: First tests. Scandinavian Journal of Economics 98 (1996) 463-484
11. Eliasson A.C., and Kreuter C. On currency crisis: A continuous crisis definition. Conference paper, "X International "Tor Vergata" Conference on Banking and Finance (2001, December). http://www.economia.uniroma2.it/ceis/conferenze_convegni/banking2001/papers/mercoledi/Eliasson-Kreuter.pdf [http://www.economia.uniroma2.it/ceis/conferenze_convegni/banking2001/papers/mercoledi/Eliasson-Kreuter.pdf]
12. Frankel J.A., and Rose A. Currency crashes in emerging markets: An empirical treatment. Journal of International Economics 41 (1996) 351-366
13. Frechette G. Random-effects ordered probit. STATA Technical Bulletin: STATA Corporation (2001)
14. Hausman J. Specification tests in econometrics. Econometrica 46 (1978) 1251-1271
15. Heller H.R. Determinants of exchange rate practices. Journal of Money, Credit and Banking 10 (1978) 308-321
16. Holden P., Holden M., and Suss E.C. The determinants of exchange rate flexibility: An empirical investigation. Review of Economics and Statistics 61 (1979) 327-333
17. Juhn, G., Mauro, P. (2002). Long-run determinants of exchange rate regimes: A simple sensitivity analysis. IMF Working Papers, 02/104
18. Levy-Yeyati E., and Sturzengger F. Classifying exchange rate regimes: Deeds vs. words. European Economic Review 49 6 (2005) 1603-1635
19. Masson, P. (2000). Exchange Rate Regime Transitions. IMF Working Paper IMF No. 00/134
20. Melvin M. The choice of an exchange rate system and macroeconomic stability. Journal of Money, Credit and Banking 17 (1985) 467-478
21. Meon P.-G., and Rizzo J.-M. The viability of fixed exchange rate commitments: Does politics matter? A theoretical and empirical investigation. Open Economies Review 13 2 (2002) 111-132
22. Mundell R.A. A theory of optimum currency areas. American Economic Review 51 (1961) 657-665
23. O'Connelle J. The overvaluation of purchasing power parity. Journal of International Economics 44 (1998) 1-19
24. Poirson, H. (2001). How do countries choose their exchange rate regime? IMF Working Paper, WP/01/46
25. Reinhart, C.M., Rogoff, K.S. (2002). The modern history of exchange rate arrangements: A reinterpretation. NBER Working Paper No. 8963
26. Rizzo J.M. The economic determinants of the choice of an exchange rate regime: A probit analysis. Economics Letters 59 (1998) 283-287
27. Rogoff K. Can international monetary policy cooperation be counterproductive?. Journal of International Economics 8 (1985) 199-217
28. Rogoff K. Can international monetary policy cooperation be counterproductive?. Journal of International Economics 18 3-4 (1985) 199-217
29. Savvides A. Real exchange rate variability and the choice of exchange rate regime by developing countries. Journal of International Money and Finance 9 (1990) 440-454
30. Wooldridge J.M. Econometric analysis of cross section and panel data (2002), MIT Press, Cambridge
31. Wu D. Alternative tests of independence between stochastic regressors and disturbances. Econometrica 44 (1973) 733-750