A Faith-Based Initiative Meets the Evidence: Does a Flexible Exchange Rate Regime Really Facilitate Current Account Adjustment?

By M. Chinn, Shang-jin Wei. Review of Economics and Statistics, 2013

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A Forensic Analysis of Global Imbalances (2011, background): “Although Chinn and Wei (2009) show that the exchange rate regime does not affect the current account adjustment, it has been anecdotally argued that the type of the exchange rate regime affects the behavior of current accounts.”
Exchange Rate Management and Crisis Susceptibility: A Reassessment (2014, unknown): “This suggests that in assessing the resilience of exchange rate regimes, it is important to 13In a recent paper, Chinn and Wei (2013) find that the nominal exchange rate regime does not matter for external adjustment.”
Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold? (2017, unknown): “…Aghion et al (2009) and Rajan and Subramanian (2005) on growth, Aizenman and Lee (2007) and Jeanne and Ranciere (2006) on reserve accumulation, Chinn and Wei (2013) and Ghosh et al (2013) on current account adjustment, Hau and Rey (2006) on capital flows and equity prices, Mendoza and…”