Exchange Rate Volatility Under Peg: Do Trade Patterns Matter?

Working Paper No. 12/73

Nopic
This paper assesses the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes: a hard peg to a single currency and a peg to a basket of currencies. I link the changes in the nominal effective exchange rate of a pegged currency to the fluctuations of its anchor vis-a-vis other major... READ MORE...

Publication date: March 2012
ISBN 9781475502251
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Publication date: March 2012

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Publication date: March 2012

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