Hidden patterns in exchange rate regime choice

被引：0
作者：
Jesse Russell
机构：
[1] Seton Hall University,
来源：
Empirical Economics | 2011年 / 40卷
关键词：
Exchange rate choice; Classification and regression trees; Non-parametric modeling; Inflation; Optimum currency areas; Political stability; C88; F31;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
There have been a number of empirical attempts to account for variation in exchange rate regime choice, but these attempts point in several directions and are not made sense of easily. One reason for the differences among studies is that standard statistical techniques are unable to identify the nonlinear and contingent relationships among the factors that influence the choice of exchange rate regime. This article utilizes a statistical technique that reveals complex nonlinear interactions among variables. The analysis reveals that the influence of past inflation acts to condition the influence of labor market rigidity and that political stability plays a key role for both high and low inflation countries.
引用
收藏
页码：425 / 449
页数：24
相关论文
共 28 条
  • [1] Bénassy-Quéré A(2006)On the identification of de facto currency pegs J Jpn Int Econ 20 112-127
  • [2] Coeure B(1999)Democratic institutions and exchange-rate commitments Int Organ 53 71-97
  • [3] Bernhard W(2002)Political parties and monetary commitments Int Organ 56 803-830
  • [4] Leblang D(2002)Political system transparency and monetary commitment regimes Int Organ 56 861-887
  • [5] Bernhard W(2002)Partisan and electoral motivations and the choice of monetary institutions under fully mobile capital Int Organ 56 725-749
  • [6] Leblang D(1978)Determinants of exchange-rate regimes for currencies of developing countries: some preliminary results World Dev 6 437-445
  • [7] Broz L(1954)Measures for association for cross-classification I J Am Stat Assoc 49 732-764
  • [8] Clark WR(1959)Measures for association for cross-classification II J Am Stat Assoc 54 123-163
  • [9] Dreyer J(1963)Measures for association for cross-classification III J Am Stat Assoc 58 310-364
  • [10] Goodman L(1972)Measures for association for cross-classification IV J Am Stat Assoc 67 415-421
123