Classifying Exchange Rate Regimes: 20 Years Later

Twenty years ago, in Levy-Yeyati and Sturzenegger (2001) we proposed a de facto classification of exchange rate regimes which contrasted with the –at the time, standard– de jure classifications based on self-reporting by monetary authorities. This paper extends our original classification through 20...

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Autores principales: Levy Yeyati, Eduardo, Sturzenegger, Federico
Formato: Artículo submittedVersion
Lenguaje:Inglés
Publicado: Universidad Torcuato Di Tella 2024
Materias:
Política Monetaria
Monetary policy
Exchange rate regimes
Fear of floating
Fear of appreciation
Acceso en línea:https://repositorio.utdt.edu/handle/20.500.13098/13103
Aporte de:
Repositorio Digital Universidad Torcuato Di Tella de Universidad Torcuato Di Tella
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record_format dspace
spelling I57-R163-20.500.13098-131032025-03-21T21:49:23Z Classifying Exchange Rate Regimes: 20 Years Later Levy Yeyati, Eduardo Sturzenegger, Federico Política Monetaria Monetary policy Exchange rate regimes Fear of floating Fear of appreciation Twenty years ago, in Levy-Yeyati and Sturzenegger (2001) we proposed a de facto classification of exchange rate regimes which contrasted with the –at the time, standard– de jure classifications based on self-reporting by monetary authorities. This paper extends our original classification through 2021 more than doubling the number of country-year observations (from 3335 to 8491). It also introduces an updating methodology to keep the classification updated in real time. Also, based on this extension, the paper documents the main stylized facts about exchange rate regime choices in the past two decades, which shows a jump in the prevalence of flexible regimes in the early 2000s and a gradual convergence between de jure and de facto groupings over time. Documento de Trabajo 2022/06 2024-10-07T15:04:10Z 2024-10-07T15:04:10Z 2022-10 info:eu-repo/semantics/article info:eu-repo/semantics/submittedVersion https://repositorio.utdt.edu/handle/20.500.13098/13103 eng Documento de Trabajo. Universidad Torcuato Di Tella. Escuela de Gobierno info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-sa/2.5/ar/ 33 p. application/pdf application/pdf Universidad Torcuato Di Tella Escuela de Gobierno
institution Universidad Torcuato Di Tella
institution_str I-57
repository_str R-163
collection Repositorio Digital Universidad Torcuato Di Tella
language Inglés
orig_language_str_mv eng
topic Política Monetaria
Monetary policy
Exchange rate regimes
Fear of floating
Fear of appreciation
spellingShingle Política Monetaria
Monetary policy
Exchange rate regimes
Fear of floating
Fear of appreciation
Levy Yeyati, Eduardo
Sturzenegger, Federico
Classifying Exchange Rate Regimes: 20 Years Later
topic_facet Política Monetaria
Monetary policy
Exchange rate regimes
Fear of floating
Fear of appreciation
description Twenty years ago, in Levy-Yeyati and Sturzenegger (2001) we proposed a de facto classification of exchange rate regimes which contrasted with the –at the time, standard– de jure classifications based on self-reporting by monetary authorities. This paper extends our original classification through 2021 more than doubling the number of country-year observations (from 3335 to 8491). It also introduces an updating methodology to keep the classification updated in real time. Also, based on this extension, the paper documents the main stylized facts about exchange rate regime choices in the past two decades, which shows a jump in the prevalence of flexible regimes in the early 2000s and a gradual convergence between de jure and de facto groupings over time.
format Artículo
submittedVersion
author Levy Yeyati, Eduardo
Sturzenegger, Federico
author_facet Levy Yeyati, Eduardo
Sturzenegger, Federico
author_sort Levy Yeyati, Eduardo
title Classifying Exchange Rate Regimes: 20 Years Later
title_short Classifying Exchange Rate Regimes: 20 Years Later
title_full Classifying Exchange Rate Regimes: 20 Years Later
title_fullStr Classifying Exchange Rate Regimes: 20 Years Later
title_full_unstemmed Classifying Exchange Rate Regimes: 20 Years Later
title_sort classifying exchange rate regimes: 20 years later
publisher Universidad Torcuato Di Tella
publishDate 2024
url https://repositorio.utdt.edu/handle/20.500.13098/13103
work_keys_str_mv AT levyyeyatieduardo classifyingexchangerateregimes20yearslater
AT sturzeneggerfederico classifyingexchangerateregimes20yearslater
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