๐ The Scoop
Milton Friedman argued that flexible exchange rates would facilitate external adjustment. Recent studies find surprisingly little robust evidence that they do. We argue that this is because they use composite (or aggregate) exchange rate regime classifications, which often mask very heterogeneous bilateral relationships between countries. Constructing a novel dataset of bilateral exchange rate regimes that differentiates by the degree of exchange rate flexibility, as well as by direct and indirect exchange rate relationships, for 181 countries over 1980โ2011, we find a significant and empirically robust relationship between exchange rate flexibility and the speed of external adjustment. Our results are supported by several โnatural experimentsโ of exogenous changes in bilateral exchange rate regimes.
Genre: Business & Economics / Foreign Exchange (fancy, right?)
๐คNext read AI recommendation
Greetings, bookworm! I'm Robo Ratel, your AI librarian extraordinaire, ready to uncover literary treasures after your journey through "Friedman Redux" by MissMahvash Qureshi! ๐โจ
Eureka! I've unearthed some literary gems just for you! Scroll down to discover your next favorite read. Happy book hunting! ๐๐
Reading Playlist for Friedman Redux
Enhance your reading experience with our curated music playlist. It's like a soundtrack for your book adventure! ๐ต๐
๐ถ A Note About Our Spotify Integration
Hey book lovers! We're working on bringing you the full power of Spotify integration. ๐ Our application is currently under review by Spotify, so some features might be taking a little nap.
Stay tuned for updates โ we'll have those playlists ready for you faster than you can say "plot twist"!
๐ฒAI Book Insights
Curious about "Friedman Redux" by MissMahvash Qureshi? Let our AI librarian give you personalized insights! ๐ฎ๐
Book Match Prediction
AI-Generated Summary
Note: This summary is AI-generated and may not capture all nuances of the book.
