Are Fixed Exchange Rates Still a Mirage?

Michael Bleaney and Mo Tian

No 2017/05, Discussion Papers from University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM)

Abstract: In the twenty-first century, pegged exchange rates have become increasingly fixed: parity changes have become significantly rarer than in the 1980s and 1990s. Analysis of what triggers parity changes suggests that the high frequency of parity changes in the late twentieth century reflected the inflationary conditions of the time rather than a permanent shift associated with financial globalization.

Keywords: exchange rates regimes; inflation; capital flows (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-his and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:not:notcfc:17/05

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