Are Monetary Rules and Reforms Complements or Substitutes? A Panel Analysis for the World versus OECD Countries

Arbeitspapier

This paper investigates the relationship between the exchange rate regime and the degree of structural reforms using panel data techniques. We look at a broad sample of countries (the "world sample") and also an OECD sample. Our main findings suggest that adopting a fixed exchange rate rule is positively correlated with the degree of overall structural reforms and the trade component. The paper also highlights the fact that considering a heterogeneous panel of countries as opposed to a limited does not matter for this results.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 129

Classification and Topics

• Classification: Wirtschaft ; Positive Analysis of Policy Formulation and Implementation ; Monetary Policy ; Policy Objectives; Policy Designs and Consistency; Policy Coordination
• Subject: exchange rates ; monetary policy regime ; liberalisation ; panel data

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Belke, Ansgar ; Herz, Bernhard ; Vogel, Lukas
• Event: Veröffentlichung
• (who): Oesterreichische Nationalbank (OeNB)
• (where): Vienna
• (when): 2006

Further information

• Handle: http://hdl.handle.net/10419/264721
• Last update: 10.03.2025, 11:44 AM CET