@techreport{Herrmann2009really,
abstract = {This paper examines the relationship between the exchange rate regime and the pace of current account adjustment. The panel data set we refer to includes 11 catching-up countries from central, eastern and south-eastern Europe between 1994 and 2007. The exchange rate regime is measured by a continuous z-score measure of exchange rate volatility proposed by Gosh, Gulde and Wolf (2003). Based on a basic autoregression estimation, the results indicate that a more flexible exchange rate regime significantly enhances the rate of current account adjustment.},
address = {Frankfurt, M.},
author = {Sabine Herrmann},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
isbn = {978-3-86558-548-6},
keywords = {F32; F31; O52; 330; Current account adjustment; exchange rate regime; Central and Eastern Europe; Wechselkurssystem; Leistungsbilanz; Zahlungsbilanzgleichgewicht; Wirtschaftliche Anpassung; Sch\"{a}tzung; Osteuropa},
language = {eng},
number = {2009,22},
publisher = {Dt. Bundesbank},
title = {Do we really know that flexible exchange rates facilitate current account adjustment? Some new empirical evidence for CEE countries},
type = {Discussion Paper Series 1: Economic Studies},
url = {http://hdl.handle.net/10419/27748},
year = {2009}
}
