Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. European I Department.
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| ISBN: | 1451901283
9781451901283
1462355943
9781462355945
1452701784
9781452701783
1282106872
9781282106871
9786613800220
6613800228
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| Notes: | Includes bibliographical references (pages 39-41).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | The paper develops a model of exchange rate regime choice centered on the trade-off between internal price stability and external competitiveness and allowing for institutional costs of altering exchange rate arrangements. The main implication of the model is a nonlinear relationship between the rate of inflation and the choice of regime for the next period. The model also suggests that a major inflationary shock-like the one to which all Central and Eastern European economies were subject when they allowed prices to be determined by the market-should give rise to a tightening of the exchange rate regime, followed by a gradual introduction of more flexibility as inflation subsides. A series of regressions on a sample of 13 Central and Eastern European economies yield results consistent with the hypothesis.
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| Other form: | Print version: Klyuev, Vladimir. Model of exchange rate regime choice in the transitional economies of Central and Eastern Europe. [Washington, D.C.] : International Monetary Fund, European I Dept., ©2001
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| Standard no.: | 10.5089/9781451901283.001
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