Herding and the shifting determinants of exchange rate regime choice

被引：4
作者：
Russell, Jesse
机构：
[1] Sparks 89431
来源：
APPLIED ECONOMICS | 2012年 / 44卷 / 32期
关键词：
exchange rate regimes; herding; information cascades; economic behaviour; DEVELOPING-COUNTRIES; POLITICAL-INSTITUTIONS; GLOBALIZATION; CURRENCIES; ECONOMY; GROWTH; POLICY;
D O I：
10.1080/00036846.2011.587785
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
It is difficult to pin down the factors that determine states' choice of exchange rate regime because those very factors present a moving target. Many scholars have taken on the same question: what are the determinants of exchange rate regime choice? But as a group they have been unable to identify a stable answer. The reason for this is that the factors that best predict exchange rate regime vary dramatically across time. An explanation for this variation is offered: rational herding, or information cascades, can explain why one factor becomes prominent for a period of time then suddenly drops off and is replaced by a better predictor.
引用
收藏
页码：4187 / 4197
页数：11
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