Preview: Shock Persistence and the Choice of Foreign Exchange Regime : An Empirical Note from Mexico

Shock Persistence and the Choice of Foreign Exchange Regime : An Empirical Note from Mexico

The academic and policy debate about optimal foreign exchange rate regimes for emerging economies, has focused more on the theoretical costs and benefits of possible regimes, than on their actual performance. The authors report on what can be called exchange-rate-regime-dependent differential shock...

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Bibliographic Details
Main Authors:	Giugale, Marcelo, Korobow, Adam
Language:	en_US
Published:	World Bank, Washington, DC 2015
Subjects:	borrowing costs capital account carbon carbon dioxide carbon dioxide emissions central banks country sample cpi currency currency board currency boards currency crises devaluation developing countries domestic economy domestic interest rates econometric analysis economic dynamics economic statistics economic time series economists emerging countries emerging economies emerging markets empirical research employment endogenous variables equilibrium exchange arrangements exchange rate exchange rate regime exchange rate regimes exchange systems external borrowing external shock external shocks financial crises financial integration fiscal constraints fiscal policy fixed exchange rate fixed exchange rates flexible exchange rates foreign exchange foreign exchange rate foreign exchange rates foreign shocks forestry inflation interest rates international monetary fund joint implementation labor markets long term M2 macroeconomic volatility macroeconomics market economies monetary policy monetary unions multipliers nominal exchange rate nominal exchange rates nominal interest rate nominal interest rates output recovery output volatility policy makers policy options policy research political economy post Keynesian economics private sector real interest real interest rate real output real variables risk premia social costs standard deviation statistical analysis trade policies welfare effects foreign exchange administration economic shocks outputs exchange rate indicators economic recovery nominal protection rate fixed rate bonds equilibrium theory social assessments
Online Access:	http://hdl.handle.net/10986/21454

Shock Persistence and the Choice of Foreign Exchange Regime : An Empirical Note from Mexico

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