Do we really know that flexible exchange rates facilitate current account adjustment? Some new empirical evidence for CEE countries

Arbeitspapier

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.

Angaben zum Objekt

• ISBN: 978-3-86558-548-6
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Discussion Paper Series 1 ; No. 2009,22

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Current Account Adjustment; Short-term Capital Movements ; Foreign Exchange ; Economywide Country Studies: Europe
• Thema: Current account adjustment ; exchange rate regime ; Central and Eastern Europe ; Wechselkurssystem ; Leistungsbilanz ; Zahlungsbilanzgleichgewicht ; Wirtschaftliche Anpassung ; Schätzung ; Osteuropa

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Herrmann, Sabine
• Ereignis: Veröffentlichung
• (wer): Deutsche Bundesbank
• (wo): Frankfurt a. M.
• (wann): 2009

Weitere Informationen

• Handle: http://hdl.handle.net/10419/27748
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ