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