Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice

Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice
What determines the currency to which countries peg or "anchor" their exchange rate? Data for over 100 countries between 1980 and 1998 reveal that trade network externalities are a key determinant. This implies that anchor currency choice may well be suboptimal in that certain currencies, e.g., the U.S. dollar, could be oversubscribed. It also... READ MORE...

Publication date: May 2008
ISBN 9781451869910
$18.00

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