Publication:
Detection of implicit fluctuation bands and their credibility in EU candidate countries

dc.contributor.authorSosvilla-Rivero, Simón
dc.contributor.authorRamos-Herrera, María del Carmen
dc.date.accessioned2023-06-18T05:51:20Z
dc.date.available2023-06-18T05:51:20Z
dc.date.issued2015-07-28
dc.description.abstractThis paper attempts to identify implicit exchange-rate regimes for currencies of candidate countries vis-à-vis the euro. To that end, we apply three sequential procedures that consider the dynamics of exchange rates to data covering the period from 1999:01 to 2012:12. Our results would suggest that implicit bands have existed in many sub-periods for almost all currencies under study. Once we detect de facto discrepancies between de facto and de iure exchange-rate regimes, we make use of different methods to study the credibility of the detected fluctuation bands. The detected lack of credibility in a high percentage of the sample is robust to the use of several credibility tests, suggesting that economic agents do not behave as if these bands actually were in force at time of making their financial plans. These countries do not improve the confidence on the fluctuation bands as time evolves.
dc.description.departmentDepto. de Análisis Económico y Economía Cuantitativa
dc.description.facultyInstituto Complutense de Estudios Internacionales
dc.description.facultyFac. de Ciencias Económicas y Empresariales
dc.description.refereedTRUE
dc.description.sponsorshipMinisterio de Economía y Competitividad (MINECO)
dc.description.sponsorshipMinisterio de Ciencia e Innovación (MICINN)
dc.description.statuspub
dc.eprint.idhttps://eprints.ucm.es/id/eprint/46508
dc.identifier.doi10.1080/1406099X.2015.1066952
dc.identifier.issn1406-099X ; Online ISSN: 2334-4385
dc.identifier.officialurlhttps://doi.org/10.1080/1406099X.2015.1066952
dc.identifier.urihttps://hdl.handle.net/20.500.14352/23482
dc.issue.number1
dc.journal.titleBaltic Journal of Economics
dc.language.isoeng
dc.page.final37
dc.page.initial18
dc.publisherTaylor & Francis
dc.relation.projectID(ECO2011-23189)
dc.relation.projectID(FPU AP2008-004015)
dc.rightsAtribución 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/es/
dc.subject.jelF31
dc.subject.jelF33
dc.subject.keywordCredibility
dc.subject.keywordexchange rates
dc.subject.keywordexchange-rate regimes
dc.subject.keywordimplicit fluctuation bands
dc.subject.ucmBancos y cajas
dc.subject.ucmDinero
dc.subject.ucmMercados bursátiles y financieros
dc.subject.unesco5304.06 Dinero y Operaciones Bancarias
dc.titleDetection of implicit fluctuation bands and their credibility in EU candidate countries
dc.typejournal article
dc.volume.number15
dspace.entity.typePublication
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