Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/27748
Authors: 
Herrmann, Sabine
Year of Publication: 
2009
Series/Report no.: 
Discussion Paper Series 1: Economic Studies 2009,22
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.
Subjects: 
Current account adjustment
exchange rate regime
Central and Eastern Europe
JEL: 
F32
F31
O52
ISBN: 
978-3-86558-548-6
Document Type: 
Working Paper

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