Recent Publications on Exchange Rates and Currencies

The Impact of Exchange Rate Regimes on Economic Growth with Continuous Classification of de facto Regimes,” with Xiaonan Ma and Danxia Xie, April 2019.

"Systematic Managed Floating," 2019,  Open Economies Review, April, vol 30, no.2 pp.255-295. DOI: 10.1007/s11079-019-09528-8.  Revised, Jan. 2019 (pdf),. NBER WP 23663, August 2017; HKS RWP17-025, June.   Powerpoint (pdf) presentation for 4th Asian Monetary Policy Forum, May 2017, 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,

The Currency-Plus-Commodity Basket: A Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically​” Short abstract.  Forthcoming 2019 in: Macroeconomic Institutions and Management in Resource-Rich Arab Economies, edited by Kamiar Mohaddes, Jeffrey Nugent and Hoda Selim,  (Oxford: Oxford University Press).  Abstract. CID WP no  333, 2017.

"The Plaza Accord, 30 Years Later,”  published in Currency Policy Then and Now: 30th Anniversary of the Plaza Accord, edited by C.F. Bergsten & R. Green (Peterson Institute for International Economics: Washington), 2016.  NBER WP 21813.

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SystematicMngdFloat2019.pdf1.58 MB