Implicit bands in the Spanish peseta/Deutschmark exchange rate, 1965-1998

  1. Francisco J. Ledesma Rodríguez
  2. Manuel Navarro Ibáñez
  3. Jorge Vicente Pérez Rodríguez
  4. Simón Sosvilla Rivero
Revista:
Applied financial economics

ISSN: 0960-3107

Año de publicación: 2007

Volumen: 17

Número: 10-12

Páginas: 921-932

Tipo: Artículo

DOI: 10.1080/09603100600843916 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: Applied financial economics

Resumen

The objective of this article is to identify implicit bands for the Spanish peseta/Deutschmark exchange rate. To this end, based on the 'natural' classification approach suggested by Reinhart and Rogoff (2004), we propose a statistical test to assess the statistical significance of the outcome of their classifying algorithm. The test is applied to the period 1965-1998, indicating our results existence of fluctuation bands in the 1980s and 1990s, before and after the entry of the peseta into the European Monetary System.

Fuente de los datos: Dialnet