Joint research unit 7235

Better Two Eyes than One: A Synthesis Classification of Exchange Rate Regimes

2021

Carl Grekou

This paper proposes a new de facto classification of exchange rate regimes, the synthesis classification. The proposed framework has several advantages over existing de facto classifications. First, it offers a unified framework based on the most divergent classifications, the RR and LYS classifications, leading not only to a broader coverage but also to encompass a broad spectrum of exchange systems. Second, it fits better with the known history of exchange rate regimes developments in the post-Bretton Woods era. Among others, it brings an interesting nuance to the so-called hollowing-out hypothesis by showing that the evolution of de facto regimes —especially in emerging economies since the late 1990s— has essentially involved movement toward more tightly “managed” intermediate regimes and not a shift away from such regimes. As an illustration of the insightfulness of our classification, we empirically revisit the nexus between currency crises and exchange rate regimes. In addition to associate a higher probability of currency crisis to both intermediate and floating regimes, our classification, also displays better statistical performances than other classifications in predicting currency crises.

AGENDA

Thursday 26 January 2023

Colloques et Workshops

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Thursday 26 January 2023

Colloques et Workshops

Strategic interactions and general equilibrium XI: theories and applications

Thursday 26 January 2023

Is industrial decarbonization at odds with competitiveness? An assessment of competition dynamics in two EU heavy industries

Aliénor Cameron

Is industrial decarbonization at odds with competitiveness? An assessment of competition dynamics in two EU heavy industries

Thursday 26 January 2023

Doctorants

Aliénor Cameron

Is industrial decarbonization at odds with competitiveness? An assessment of competition dynamics in two EU heavy industries

Thursday 26 January 2023

Groupe de travail Economie Comportementale

Charlotte Saucet (Panthéon-Sorbonne)

Horaire exceptionnel 10h30 -11h30

Motivated Skepticism

Thursday 26 January 2023

Motivated Skepticism

Charlotte Saucet (Panthéon-Sorbonne)

Horaire exceptionnel 10h30 -11h30

Motivated Skepticism

Tuesday 31 January 2023

Recherche et Economie et Socioéconomie Politique, des Institutions et des Régulations (RESPIR)

Nathalie Heinich (EHESS)

ANNULÉ ET REPORTÉ À UNE DATE ULTÉRIEURE

Valeur et mesure: aux limites de l’approche économique

Tuesday 31 January 2023

Valeur et mesure: aux limites de l’approche économique

Nathalie Heinich (EHESS)

ANNULÉ ET REPORTÉ À UNE DATE ULTÉRIEURE

Valeur et mesure: aux limites de l’approche économique

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