Fixed vs. Floating Exchange Rate Regimes

Fixed vs. Floating Exchange Rate Regimes

"Systematic Managed Floating,"  Open Economies Review, 2019, vol. 30, no. 2, April, pp. 255-295.  Reprinted, 2021, in The Asian Monetary Policy Forum: Insights for Central Banking, Stephen Davis, Edward Robinson and Bernard Yeung, editors (World Scientific Publ. Co. Pte. Ltd, Singapore), 160-223.   PDF, revised, Jan.2019.  NBER WP 23663, August 2017; HKS RWP17-025, June.
Powerpoint (pdf) for 4th Asian Monetary Policy Forum, 2017, May 26, MAS, Singapore.
Supporting documentation:
Overall data appendix (pdf), compiled by Shruti Lakhtakia, April 2017.
Frankel-Xie 2011 appendix (pdf) to accompany section 2(b)ii, estimating Asian fx regimes, May 2017.
* Turkey Appendix to accompany section 2(c) on the FX reaction function of the central bank of Turkey,

"Choosing an Exchange Rate Regime,”  in The Handbook of Exchange Rates, edited by Jessica James, Ian W. Marsh and Lucio Sarno (John Wiley), 2012.

"Estimation of De Facto Exchange Rate Regimes:  Synthesis of  The Techniques for Inferring Flexibility and Basket Weights,"  Condensed for publication;  IMF Staff Papers 2008, vol.55.  Replication files.  Presented at Annual Research Conference,  International Monetary Fund, Nov. 2007, Washington DC.'  slides.   Complete version with all appendix tables: NBER WP No. 14016, May 2008 or CID WP 157, March 2008.  Or, with selection of appendix tables: HKS RWP08-026, May 2008.  Replication files.   

 "On the Renminbi: The choice between adjustment under a fixed exchange rate and adjustment under a flexible rate,"  written for a High-Level Seminar on Foreign Exchange System, Dalian, China, May 2004.  NBER WP 11274, 2005.  

"No Single Currency Regime Is Right for All Countries or at All Times,”  Essays in International Finance No. 215, Princeton University Press, 1999. Graham Lecture, Princeton University, 1999.  NBER WP No. 7338.

"No Single Currency Regime is Right for All Countries," testimony before the House Committee on Banking and Financial Services, May 21, 1999.

 Lecture at IMF Institute, August 7, 2000; as reported in IMF Survey, vol. 29, no.17, August 28, 2000.

"Are Exchange Rates Excessively Variable?" with Richard Meese, in NBER Macroeconomics Annual 1987, edited by Stan Fischer (MIT Press, Cambridge).


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