RT Journal Article
T1 Implicit exchange regimes in Central and Eastern Europe: A first exploration
A1 Ledesma Rodríguez, Francisco
A1 Pérez Rodriguez, Jorge
A1 Sosvilla Rivero, Simón Javier
AB This paper attempts to identify implicit exchange rate regimes for currencies of the Central and Eastern European Countries vis-à-vis the euro. To that end, we apply a sequential procedure that considers the dynamics of exchange rates to data covering the period from 1977:01 to 2006:02. Our results would suggest that implicit bands have existed in many subperiods for almost all currencies under study. Once we detect de facto discrepancies between de facto and de iure exchange rate regimes, we propose a model in order to explain these decisions. Our results suggest a positive association between the previous inflation rate and the probability of a peg with the euro, and a negative association with past unemployment rate.
PB Springer Nature
SN 1612-4812
YR 2009
FD 2009
LK https://hdl.handle.net/20.500.14352/52415
UL https://hdl.handle.net/20.500.14352/52415
LA eng
NO Ministerio de Ciencia y Tecnología. España
DS Docta Complutense
RD 18 abr 2025