WP 2013-06: Exchange rate regimes and macroeconomic performance: A surveyOriginal titleRegímenes Cambiarios y Desempeño Macroeconómico: Una Evaluación de la Literatura
WP 2013-06: Exchange rate regimes and macroeconomic performance: A surveyOriginal titleRegímenes Cambiarios y Desempeño Macroeconómico: Una Evaluación de la Literatura
WP 2013-06: Exchange rate regimes and macroeconomic performance: A surveyOriginal titleRegímenes Cambiarios y Desempeño Macroeconómico: Una Evaluación de la Literatura
N°
WP 2013-06
Title
Exchange rate regimes and macroeconomic performance: A survey
Original title
Regímenes Cambiarios y Desempeño Macroeconómico: Una Evaluación de la Literatura
Author(s)
Erick Lahura and Marco Vega
Language
Spanish
Date
2013/04/30
Abstract
The paper evaluates the theoretical and empirical literature about the link between exchange rate regimes and macroeconomic performance. The main conclusion is that the distinction between fixed and floating exchange rate regimes seems important for developing economies but not for developed ones. In particular, flexible exchange rate regimes tend to be more favorable for an emerging economy on theoretical and empirical grounds surveyed in the broad literature. However, the existing evidence is not totally robust to the way the literature classifies regimes.