International Monetary Regimes and Incidence and Transmission of Macroeconomic Shocks: Evidence from the Bretton Woods and Modern Floating Periods

Selahattin Dibooglu

Southern Economic Journal, 2000, vol. 66, issue 3, pages 590-608

Abstract: This paper investigates the relationship between international monetary regimes and incidence and transmission of macroeconomic shocks within the context of an open-economy macro model. Empirical results confirm monetary interdependence and lower incidence of monetary discretion under fixed exchange rates. The average magnitude and dispersion of supply shocks in Bretton Woods and the subsequent float is comparable; however, the average magnitude and dispersion of real demand shocks under Bretton Woods seems higher. Overall, the international monetary regime may pose important constraints to policymakers in open economies.

Date: 2000
View citations in EconPapers

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:sej:ancoec:v:66:3:y:2000:p:590-608

Access Statistics for this article

Southern Economic Journal is edited by Laura Razzolini

More articles in Southern Economic Journal from Southern Economic Association
Contact information at EDIRC.
Series data maintained by Laura Razzolini ().