Template-type: ReDIF-Paper 1.0  
Author-Name: Simón Sosvilla Rivero
Author-Email: sosvilla@ccee.ucm.es
Author-Workplace-Name: Departamento de Economía Cuantitativa, Facultad de Ciencias Económicas y Empresariales, Universidad 
	Complutense de Madrid.
Author-Name: Maria del Carmen Ramos Herrera
Author-Email: madelram@ccee.ucm.es
Author-Workplace-Name: Departamento de Economía Cuantitativa, Facultad de Ciencias Económicas y Empresariales, Universidad 
	Complutense de Madrid.
Title: De facto exchange-rate regimes in Central and Eastern European Countries
Abstract: This paper attempts to identify implicit exchange rate regimes for currencies of new European Union (EU) countries 
	vis-à-vis the euro. To that end, we apply three sequential procedures that consider the dynamics of exchange rates to data 
	covering the period from 1999:01 to 2012:12. Our results would suggest that implicit bands have existed in many sub-periods 
	for almost all currencies under study. This paper provides new empirical evidence that strengthens the hypothesis of that the 
	implemented policies differ from those announced by the monetary authorities, identifying the existence of de facto fixed 
	monetary systems along large number of sub-periods for different currencies.
Keywords: Exchange-rate regimes; Implicit fluctuation bands; Exchange rates.
Creation-Date: 2015
Length: 38 pages
Number: 1502 
X-File-Ref: http://america.sim.ucm.es/repec/ucm/ref/wpaper02-15.txt
File-URL: https://eprints.ucm.es/id/eprint/37319/1/WP15-02.pdf
File-Format: Application/pdf
File-Function: Full text
Handle: RePEc:ucm:wpaper:1502