Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/47888
Autoren: 
Fischer, Christoph
Datum: 
2011
Reihe/Nr.: 
Discussion Paper Series 1 2011,12
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
ISBN: 
978-3-86558-717-6
Dokumentart: 
Working Paper
Nennungen in sozialen Medien:

Datei(en):
Datei
Größe
837.57 kB





Publikationen in EconStor sind urheberrechtlich geschützt.