Choice of exchange rate regime and currency zones

被引：6

作者：

Kato, Isamu ^{[2
]}

Uctum, Merih ^{[1
,2
]}

机构：

[1] CUNY Brooklyn Coll, Dept Econ, Brooklyn, NY 11210 USA

[2] CUNY, Grad Ctr, Program Econ, New York, NY 10016 USA

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2008年 / 17卷 / 03期

关键词：

exchange rate regimes; discrete choice model; optimum currency area; currency crises;

D O I：

10.1016/j.iref.2007.01.004

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We investigate the choice of exchange rate regimes in different currency zones (the US dollar, Euro and the CFA zones), and geographic regions (Latin America and Caribbean, East Asia and Pacific, Europe, core Europe, and the CFA countries). We control for Country and regional heterogeneity, time dummies, endogeneity and perform various robustness checks. Results from regional analysis substantially differ from the aggregate analysis despite controlling for random effects. Even at the regional level controlling for Currency zones affects our findings. Regional results are generally robust to regime measurement, and sample changes (number of observations). (C) 2007 Elsevier Inc. All rights reserved.

引用

页码：436 / 456

页数：21

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