The modern history of exchange rate arrangements: A reinterpretation
成果类型：
Article
署名作者：
Reinhart, CM; Rogoff, KS
署名单位：
University System of Maryland; University of Maryland College Park; Harvard University
刊物名称：
QUARTERLY JOURNAL OF ECONOMICS
ISSN/ISSBN：
0033-5533
DOI：
10.1162/003355304772839515
发表日期：
2004
页码：
1-48
关键词：
摘要：
We develop a novel system of reclassifying historical exchange rate regimes. One key difference between our study and previous classifications is that we employ monthly data on market-determined parallel exchange rates going back to 1946 for 153 countries. Our approach differs from the IMF official classification (which we show to be only a little better than random); it also differs radically from all previous attempts at historical reclassification. Our classification points to a rethinking of economic performance under alternative exchange rate regimes. Indeed, the breakup of Bretton Woods had less impact on exchange rate regimes than is popularly believed.
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