Exchange Rate Regimes and Unemployment

被引:1
作者
Feldmann, Horst [1 ]
机构
[1] Univ Bath, Dept Econ, Bath BA2 7AY, Avon, England
关键词
Exchange rate regimes; Unemployment; PERFORMANCE;
D O I
10.1007/s11079-012-9249-1
中图分类号
F [经济];
学科分类号
02 ;
摘要
Using data on 78 countries over 1980 to 2008 and a host of controls, this paper finds that switching from a floating regime to a pegged or an intermediate regime is likely to substantially reduce unemployment. Using a three-way regime classification, the estimated effect of switching to a pegged (to an intermediate) regime is around two percentage points (around one percentage point) after 2 years. These results are robust to variations in both specification and three-way classification. When using a four-way classification, we find evidence that switching from a float to a hard peg is most likely to reduce unemployment.
引用
收藏
页码:537 / 553
页数:17
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