WORDS, DEEDS AND OUTCOMES: A SURVEY ON THE GROWTH EFFECTS OF EXCHANGE RATE REGIMES
系统比较了三项关于汇率制度增长效应的研究,发现它们使用反映汇率政策不同方面的制度分类,这解释了看似矛盾的结论。
Abstract Recent studies on the growth effects of exchange rate regimes offer a wide range of different, sometimes contradictory results. In this paper, we systematically compare three prominent contributions in this field. Using a common data set, a common specification and common estimation methods, we argue that the contradictory findings can be explained by the fact that these studies use regime classifications which reflect fundamentally different aspects of exchange rate policy.