A model of exchange rate regime choice in the transitional economies of Central and Eastern Europe /

A model of exchange rate regime choice in the transitional economies of Central and Eastern Europe /

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Bibliographic Details
Author / Creator:	Klyuev, Vladimir.
Imprint:	[Washington, D.C.] : International Monetary Fund, European I Dept., ©2001.
Description:	1 online resource (41 pages) : illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/01/140 IMF working paper ; WP/01/140.
Subject:	Foreign exchange -- Europe, Central. Foreign exchange -- Europe, Eastern. Currency question -- Europe, Central. Currency question -- Europe, Eastern. Inflation (Finance) -- Europe, Central. Inflation (Finance) -- Europe, Eastern. Currency question. Foreign exchange. Inflation (Finance) Central Europe. Eastern Europe.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12497434

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. European I Department.
ISBN:	1451901283 9781451901283 1462355943 9781462355945 1452701784 9781452701783 1282106872 9781282106871 9786613800220 6613800228
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.
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.
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
Standard no.:	10.5089/9781451901283.001

Description
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.
Physical Description:	1 online resource (41 pages) : illustrations
Format:	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.
Bibliography:	Includes bibliographical references (pages 39-41).
ISBN:	1451901283 9781451901283 1462355943 9781462355945 1452701784 9781452701783 1282106872 9781282106871 9786613800220 6613800228
ISSN:	2227-8885 ;