Exchange Rate Regimes: Is the Bipolar View Correct?

By E. Sullivan. 2001

1,063 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/5a81a295eb2fa18db6a4213ace40a68c977fcee5

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Finance

Citations in the corpus

Transmission Mechanism of Monetary Policy in Centraland Eastern Europe (2002, result): “This is very much in line with the global observation of this tendency made by Fischer (2000). Like many other countries, it seems that transition economies, too, learn in the course of time that the polar regimes (hard peg and free float) better suit the conduct of monetary policy.”
What is an Emerging Market? (2004, background): “Stanley Fischer (2001), then First Deputy Managing Director of the International Monetary Fund, gave further impetus to this “bipolar” view, suggesting that trends in the 1990s indicated that countries were, in fact, moving towards the two poles.”
The Mirage of Exchange Rate Regimes for Emerging Market Countries (2003, background): “…bonds declining as ' Fot- a discussion of why soft pegs hale fallen out of favot- and the rise of the bipolar view, see Obstfeld and Rogoff (1005), Eicllengreen and RIasson (1998) and Fischer (2001) in this jout-nal. the likelihood of default on this debt increased, banks' net worth plummeted.”
The Classification and Performance of Alternative Exchange-Rate Systems (2008, background): “According to this bipolar hypothesis, for countries well-integrated into world capital markets, intermediate regimes are crisisprone so that there is little, if any, feasible middle ground between floating exchange rates and monetary unification (Eichengreen, 1994; Fischer, 2001).”
Evolution and Performance of Exchange Rate Regimes (2003, neutral): “One influential view predicted that exchange rate regimes would move in a bipolar manner to the extremes of hard pegs, which would be relatively immune to speculative pressures or free floats (Eichengreen, 1994; and Fischer, 2001).”
Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets: An Overinvestment View (2008, neutral): “Fixed exchange rates have played a crucial role for the East Asian crisis (Fischer 2001) and for the credit booms in China and Central and Eastern Europe (Schnabl 2007a).”
Monetary policy in emerging markets: Can liability dollarization explain contractionary devaluations? (2004, background): “Fischer [35] argues that the relative stability of exchange rates in the pre-crisis period caused firms to underestimate currency risk that led to excess foreign currency debt.”