| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7097 |
| DP7097 Employment Laws in Developing Countries | |
| Simeon Djankov; Rita Ramalho | |
| 发表日期 | 2008-12-23 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | The assertion that a flexible exchange rate regime would facilitate current account adjustment is often repeated in policy circles. In this paper, we compile a data set encompassing data for over 170 countries over the 1971-2005 period, and examine whether the rate of current account reversion depends upon the de facto degree of exchange rate fixity, as measured by two popular indices. We find that there is no strong, robust, or monotonic relationship between exchange rate regime flexibility and the rate of current account reversion, even after accounting for the degree of economic development, the degree of trade and capital account openness. We also find that the endogenous selection of exchange rate regimes does not explain the observed lack of correlation. |
| 主题 | International Macroeconomics |
| 关键词 | Current account imbalances Fixed exchange rate Floating exchange rate Real exchange rate |
| URL | https://cepr.org/publications/dp7097 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535934 |
| 推荐引用方式 GB/T 7714 | Simeon Djankov,Rita Ramalho. DP7097 Employment Laws in Developing Countries. 2008. |
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