A Modern History of Exchange Rate Arrangements: Chartbook, 1946-2001

Carmen Reinhart

MPRA Paper from University Library of Munich, Germany

Abstract: This is the chartbook of individual country exchange rate histories and their experience with parallel markets, 1946-2001 that accompanies "The Modern History of Exchange Rate Arrangements: A Reinterpretation." We develop a novel system of reclassifying historical exchange rate regimes. One key difference between our study and previous classifications is that we employ monthly data on market-determined parallel exchange rates going back to 1946 for 153 countries. Our approach differs from the IMF official classification (which we show to be only a little better than random), it also differs radically from all previous attempts at historical reclassification. Our classification points to a rethinking of economic performance under alternative exchange rate regimes. Indeed, the breakup of Bretton Woods had less impact on exchange rate regimes than is popularly believed.

Keywords: Exchange rate; crises; capital controls; pegs; history; inflation (search for similar items in EconPapers)
JEL-codes: F31 F33 (search for similar items in EconPapers)
Date: 2002-05
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Citations: View citations in EconPapers (68)

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https://mpra.ub.uni-muenchen.de/13192/1/MPRA_paper_13192.pdf original version (application/pdf)

Related works:
Working Paper: The Country Chronologies to Exchange Rate Arrangements into the 21st Century: Will the Anchor Currency Hold? (2017)
Working Paper: The Country Chronologies to Exchange Rate Arrangements into the 21st Century: Will the Anchor Currency Hold? (2017)
Working Paper: A Modern History of Exchange Rate Arrangements: The Country Histories, 1946-2001 (2002)
Working Paper: A Modern History of Exchange Rate Arrangements: Parallel Markets and Dual and Multiple Exchange Rates (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:13192

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