Replication data for: Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets
Principal Investigator(s): View help for Principal Investigator(s) Maurice Obstfeld; Jonathan D. Ostry; Mahvash S. Qureshi
Version: View help for Version V1
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text/plain | 14.6 KB | 10/12/2019 09:02:PM |
Project Citation:
Obstfeld, Maurice, Ostry, Jonathan D., and Qureshi, Mahvash S. Replication data for: Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets. Nashville, TN: American Economic Association [publisher], 2018. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114459V1
Project Description
Summary:
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This paper examines the claim that exchange rate regimes are of little relevance in the transmission of global financial conditions to domestic financial and macroeconomic conditions. Our findings suggest that exchange rate regimes do matter, at least for emerging market economies. The transmission of global financial shocks to domestic variables is magnified under fixed exchange rate regimes relative to more flexible regimes. For advanced economies, however, the jury is still out, as the recent paucity of truly fixed regimes among these economies poses a challenge for estimating the effect of exchange rate flexibility.
Scope of Project
JEL Classification:
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E32 Business Fluctuations; Cycles
E44 Financial Markets and the Macroeconomy
F33 International Monetary Arrangements and Institutions
F44 International Business Cycles
E32 Business Fluctuations; Cycles
E44 Financial Markets and the Macroeconomy
F33 International Monetary Arrangements and Institutions
F44 International Business Cycles
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