Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212748 
Autor:innen: 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
BOFIT Discussion Papers No. 24/2012
Verlag: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Zusammenfassung: 
Based on a classification of countries and territories according to their regime and anchor currency choice, the study considers the two major currency blocs of the present world. A nested logit regression suggests that long-term structural economic variables determine a given country's currency bloc affiliation. The dollar bloc differs from the euro bloc in that there exists a group of countries that peg temporarily to the US dollar without having close economic affinities with the bloc. The estimated parameters are consistent with an additive random utility model interpretation. A currency bloc equilibrium in the spirit of Alesina and Barro (2002) is derived empirically.
Schlagwörter: 
anchor currency choice
nested logit
exchange rate regime classification
additive random utility model
currency bloc equilibrium
JEL: 
F02
F31
F33
E42
C25
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-462-755-9
Dokumentart: 
Working Paper

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