Exchange Rate Regime Transitions /

The 'hollowing-out,' or 'two poles' hypothesis is tested in the context of a Markov chain model of exchange rate transitions. In particular, two versions of the hypothesis-that hard pegs are an absorbing state, or that fixes and floats form a closed set, with no transitions to in...

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Bibliographic Details
Main Author: Masson, Paul
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2000.
Series:IMF Working Papers; Working Paper ; No. 2000/134
Online Access:Full text available on IMF