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- W85482917 abstract "The choice of the exchange rate regime is one of the most significant monetary policydecisions that any economic authority has to make nowadays. Indeed, there have beenmany studies from a theoretical and empirical point of view, but the only commonconclusion would be the lack of consensus. In the past this topic has been modeled bybinary probit or cross-sectional multinomial logit models, both of which haveweaknesses in the assumptions of the choices. In this paper, such issue is faced bymeans of a panel mixed multinomial logit model, which allows for substitution patternamong the three types of exchange rate regimes: fixed, intermediate, and flexible. Threetypes of choice determinants are explored: those stated by the Optimum Currency Area(OCA) theory, types of shocks and vulnerability to currency crises, using a sample of 21Latin American countries for the period 1980-2004." @default.
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- W85482917 date "2008-01-01" @default.
- W85482917 modified "2023-09-26" @default.
- W85482917 title "The determinants of the choice of exchange rate regimes in Latin America: a mixed multinomial logit approach" @default.
- W85482917 hasPublicationYear "2008" @default.
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