Are We Floating Yet? Duration of Fixed Exchange Rate Regimes.

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2022-01-01 Epub Date: 2021-10-26 DOI:10.1057/s41302-021-00206-7

Menna Bizuneh

引用次数: 1

Abstract

This study examines the duration of fixed exchange rate regimes to determine the factors that impact the probability of an exit from a peg. Using de facto exchange rate regime classification, we find that duration of a peg is non-monotonic. The results of the semi-parametric proportional hazard model highlight that GDP growth and openness decrease the probability of an exit from a peg, while growing unemployment and increasing claims on government increase the likelihood of abandoning a peg. The negative impact of economic growth on the hazard rate is robust when we use marginal risk analysis and net foreign assets and inflation are found to influence the pegged regime duration.

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我们浮起来了吗?固定汇率制度的期限。

本研究考察了固定汇率制度的持续时间，以确定影响退出联系汇率制度可能性的因素。利用事实上的汇率制度分类，我们发现钉住汇率制的持续时间是非单调的。半参数比例风险模型的结果强调，GDP增长和开放降低了退出联系汇率制的可能性，而失业率上升和对政府的索赔增加了放弃联系汇率制的可能性。当我们使用边际风险分析时，经济增长对风险率的负面影响是强劲的，并且发现净外国资产和通货膨胀会影响挂钩制度的持续时间。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.