#  Fixed vs. Floating Exchange Rate Regimes 

 



 "[Systematic Managed Floating](/file_url/682)," *Open Economies Review*, 2019, vol. 30, no. 2, April, pp. 255-295. Reprinted, 2021, in The Asian Monetary Policy Forum: Insights for Central Banking*, Stephen Davis, Edward Robinson and Bernard Yeung, editors (World Scientific Publ. Co. Pte. Ltd, Singapore), 160-223. [PDF](/file_url/683), revised, Jan.2019. [NBER WP 23663](http://www.nber.org/papers/w23663); HKS [RWP17-025](/file_url/327).  
[Powerpoint](/file_url/303) ([pdf](/file_url/304)) for 4th Asian Monetary Policy Forum, 2017, May 26, MAS, Singapore.  
Supporting documentation:  
\* [Overall data appendix](/file_url/286) ([pdf](/file_url/287)), compiled by Shruti Lakhtakia, April 2017.  
\* [Frankel-Xie 2011 appendix](/file_url/294) [(pdf](/file_url/293)) to accompany section 2(b)ii, estimating Asian fx regimes, May 2017.  
\*[ Turkey Appendix](/file_url/325) to accompany section 2(c) on the FX reaction function of the central bank of Turkey,

 "[Choosing](/file_url/1312) an [Exchange Rate Regime](https://onlinelibrary.wiley.com/doi/abs/10.1002/9781118445785.ch28),” 2012, in *[The Handbook of Exchange Rates](https://onlinelibrary.wiley.com/doi/book/10.1002/9781118445785),* edited by Jessica James, Ian W. Marsh and Lucio Sarno (John Wiley).

 "[Estimation](/file_url/1313) of [De Facto](/file_url/1314) [Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes](/publications/estimation-de-facto-flexibility-parameter-and-basket-weights-evolving-exchange-0)," with Danxia Xie, 2010. *American Economic Review*. 100.

 "[Estimation of De Facto Exchange Rate Regimes](/file_url/1315): [Synthesis of The Techniques for Inferring Flexibility and Basket Weights](/file_url/1095)," with Shang-Jin Wei, 2008, *[IMF Staff Papers](http://www.imf.org/external/pubs/ft/staffp/descript.htm)*, vol.55 ([condensed for publication](/file_url/1317) with most tables cut. Presented at [Annual Research Conference](http://www.imf.org/external/np/res/seminars/2007/arc/index.htm), International Monetary Fund, Nov. 2007, [slides](/file_url/1318). Complete version with all appendix tables: [NBER WP No. 14016](/file_url/1076)[,](https://link.springer.com/article/10.1057/imfsp.2008.18) May 2008; or CID WP 157, March 2008 [(replication files)](/file_url/1316). Or, with selected half of appendix tables: [HKS RWP08-026](/file_url/1319).

  "[On the Renminbi](/file_url/1321): [The choice between adjustment](/file_url/1324) under a [fixed exchange rate and adjustment under a flexible rate](/file_url/1325)," *written for a High-Level Seminar on Foreign Exchange System,* Dalian, China, May 2004; [slides](/file_url/1322). [Slides, ECB, 2005](/file_url/1323). [NBER WP](http://www.nber.org/papers/w11274) [11274](/file_url/1320).

 ["Verifiability and the Vanishing Intermediate Exchange Rate Regime](/file_url/1091)," with Sergio Schmukler and Luis Servén; in *Brookings Trade Forum 2000*, edited by Susan Collins and Dani Rodrik (Brookings Institution, Washington DC). [NBER Working Paper 7901](https://www.nber.org/papers/w7901).

 "[Verifying Exchange Rate Regimes](/file_url/1092)" with Eduardo Fajnzylber, Sergio Schmukler, and Luis Serven, *[Journal of Development Economics](https://www.sciencedirect.com/journal/journal-of-development-economics)*, vol. 66, [no. 809, October 2001: 351-386](https://www.sciencedirect.com/science/article/pii/S0304387801001675).

 ""[No SIngle Currency Regime is Right for All Countries or at All Times](https://ies.princeton.edu/pdf/E215.pdf)," [Essays in International Finance No. 215](https://ies.princeton.edu/pdf/E215.pdf) (Princeton University Press). [ Graham Lecture](/file_url/1094), Princeton University, April 20, 1999. [NBER Working Paper No. 7338](https://www.nber.org/papers/w7338), September 1999.  
  
“[The endogeneity of the optimum currency area criteria](https://onlinelibrary.wiley.com/doi/abs/10.1111/1468-0297.00327),” with [Andy Rose](https://scholar.google.com/citations?user=XhpyWAMAAAAJ&hl=en&oi=sra), 1998, *The Economic Journal,*[ issue 449, pp 1009-1025.](https://onlinelibrary.wiley.com/doi/abs/10.1111/1468-0297.00327) NBER [WP 5700](/file_url/1326).

 ["No Single Currency Regime is Right for All Countries,"](http://hks.harvard.edu/fs/jfrankel/TESTIMNY.HBC.PDF) testimony before the House Committee on Banking and Financial Services, May 21, 1999.

  ["What Missing Middle?" Lecture at IMF Institute](http://www.imf.org/external/pubs/ft/survey/2000/082800.pdf), Aug. 7, 2000; as reported in *IMF Survey*, vol. 29, no.17, Aug, 28, 2000.   
"[Recent Exchange Rate Experience and Proposals for Reform](/file_url/1458)," [*American Economic Review*](http://www.jstor.org/journals/00028282.html) [86, no.2](https://www.jstor.org/stable/2118114), May 1996, [153-158](http://www.jstor.org/stable/2118114?seq=1#page_scan_tab_contents). [CIDER WP 96-060](/file_url/1496), Jan. 1996.  
 "[Are Exchange Rates Excessively](https://www.journals.uchicago.edu/doi/abs/10.1086/ma.2.4623711) [Variable?](https://www.journals.uchicago.edu/doi/epdf/10.1086/ma.2.4623711)" with Richard Meese, in *NBER [Macroeconomics Annual 1987](https://mitpress.mit.edu/9780262560405/nber-macroeconomics-annual-1987/)*, edited by Stan Fischer (MIT Press, Cambridge).  
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 See also:- [ Fixed vs. Floating Exchange Rate Regimes ](/exchange-rates-terms/fixed-vs-floating-exchange-rate-regimes)