Hidden patterns in exchange rate regime choice |
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Authors: | Jesse Russell |
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Institution: | 1.Seton Hall University,South Orange,USA |
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Abstract: | There have been a number of empirical attempts to account for variation in exchange rate regime choice, but these attempts
point in several directions and are not made sense of easily. One reason for the differences among studies is that standard
statistical techniques are unable to identify the nonlinear and contingent relationships among the factors that influence
the choice of exchange rate regime. This article utilizes a statistical technique that reveals complex nonlinear interactions
among variables. The analysis reveals that the influence of past inflation acts to condition the influence of labor market
rigidity and that political stability plays a key role for both high and low inflation countries. |
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