2.50
Hdl Handle:
http://hdl.handle.net/10757/346843
Title:
Tracking Exchange Rate Management in Latin America
Authors:
Carrera, César
Citation:
Carrera, C. (2015). Tracking Exchange Rate Managementin Latin America. Review of Financial Economics. doi:10.1016/j.rfe.2015.02.004
Publisher:
Elsevier B.V.
Journal:
Review of Financial Economics
Issue Date:
18-Mar-2015
URI:
http://hdl.handle.net/10757/346843
DOI:
10.1016/j.rfe.2015.02.004
Additional Links:
http://www.sciencedirect.com/science/article/pii/S105833001500018X
Abstract:
The exchange rate is one of the most important prices in any open economy. Tracking deviations from its long-run value may provide important information for policymakers. One way to track such deviations is to examine numerical patterns in exchange rates to see if the patterns appear to have been subject to some degree of policy management. Following this approach, we use Benford’s Law as our base case for free-floating exchange rates. Benford’s Law argues that the frequence of the appearance of numerals finds 1’s more frequent, than 2’s, than 3’s, etc., and this established statistical patterns has been verified and used in research tests in many scientific fields. We apply our forensic approach to exchange rates, computing the distribution of exchange-rate observed values and comparing them with those of Benford’s Law. We document such cases for 15 Latin American countries. Latin American countries are small open economies that are characterized for having different degrees of dollarization and intervention in the forex market, primary based on US dollar transactions. This is an alternative view of how these characteristics play a role with respect to an implied equilibrium exchange rate.
Type:
info:eu-repo/semantics/article
Rights:
info:eu-repo/semantics/openAccess
Language:
eng
Description:
cesar.carrera@bcrp.gob.pe
ISSN:
1058-3300

Full metadata record

DC FieldValue Language
dc.contributor.authorCarrera, Césares_PE
dc.creatorUniversidad Peruana de Ciencias Aplicadas (UPC)es_PE
dc.date.accessioned2015-03-18T14:40:29Zes_PE
dc.date.available2015-03-18T14:40:29Zes_PE
dc.date.issued2015-03-18es_PE
dc.identifier.citationCarrera, C. (2015). Tracking Exchange Rate Managementin Latin America. Review of Financial Economics. doi:10.1016/j.rfe.2015.02.004es_PE
dc.identifier.issn1058-3300es_PE
dc.identifier.doi10.1016/j.rfe.2015.02.004es_PE
dc.identifier.urihttp://hdl.handle.net/10757/346843es_PE
dc.descriptioncesar.carrera@bcrp.gob.pees_PE
dc.description.abstractThe exchange rate is one of the most important prices in any open economy. Tracking deviations from its long-run value may provide important information for policymakers. One way to track such deviations is to examine numerical patterns in exchange rates to see if the patterns appear to have been subject to some degree of policy management. Following this approach, we use Benford’s Law as our base case for free-floating exchange rates. Benford’s Law argues that the frequence of the appearance of numerals finds 1’s more frequent, than 2’s, than 3’s, etc., and this established statistical patterns has been verified and used in research tests in many scientific fields. We apply our forensic approach to exchange rates, computing the distribution of exchange-rate observed values and comparing them with those of Benford’s Law. We document such cases for 15 Latin American countries. Latin American countries are small open economies that are characterized for having different degrees of dollarization and intervention in the forex market, primary based on US dollar transactions. This is an alternative view of how these characteristics play a role with respect to an implied equilibrium exchange rate.eng
dc.formatapplication/pdfes_PE
dc.language.isoengeng
dc.publisherElsevier B.V.es_PE
dc.relation.urlhttp://www.sciencedirect.com/science/article/pii/S105833001500018Xes_PE
dc.rightsinfo:eu-repo/semantics/openAccesses_PE
dc.sourceUniversidad Peruana de Ciencias Aplicadas (UPC)es_PE
dc.sourceRepositorio Académico - UPCes_PE
dc.titleTracking Exchange Rate Management in Latin Americaes_PE
dc.typeinfo:eu-repo/semantics/articlees_PE
dc.identifier.journalReview of Financial Economicses_PE
dc.description.peer-reviewRevisión por pareses_PE
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