Do We Really Know That Flexible Exchange Rates Facilitate Current Account Adjustment? Some New Empirical Evidence for CEE Countries
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Do We Really Know That Flexible Exchange Rates Facilitate Current Account Adjustment? Some New Empirical Evidence for CEE Countries
Applied Economics Quarterly, Vol. 55 (2009), Iss. 4 : pp. 295–311
17 Citations (CrossRef)
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1Sabine Herrmann, Economics Department, Balance of Payments, Exchange Rates and Capital Markets Analysis Division, Wilhelm-Epstein-Str. 14, 60431 Frankfurt. Tel +49 69 9566 – 3785.
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Abstract
This paper examines the relationship between the exchange rate regime and the pace of current account adjustment. The panel data set we refer to includes 11 catching-up countries from Central and Eastern Europe between 1994 and 2007. The exchange rate regime is measured by a continuous
JEL Classification: F3, F4