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Autor:innen: 
Post, Erik
Datum: 
2007
Schriftenreihe/Nr.: 
Working Paper No. 2007:4
Verlag: 
Uppsala University, Department of Economics, Uppsala
Zusammenfassung: 
This paper uses a dynamic stochastic rational expectations model of a small open economy to shed some light on factors determining exits from a fixed to a flexible exchange rate regime. Exits are in the model determined by a concern for macroeconomic stabilization. If cost-push shocks are important relative to demand shocks exits should occur more likely in times of low consumption and output, high interest rates, negative asset holdings, current account deficits, high inflation and high domestic prices. If the policy maker is more sensitive to negative rather than positive output deviations the probability of exits increases overall and is tilted toward exits with accompanying depreciation.
Schlagwörter: 
exchange rates
exchange rate regimes
rational expectations model
JEL: 
E42
E44
E47
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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