EXTERNAL ADJUSTMENT AND FLEXIBILITY OF THE EXCHANGE RATE REGIME: THE CASE OF TRANSITION COUNTRIES
Milton Friedman’s traditional claim is that flexible exchange rates facilitate external adjustment by means of their corrective movements before the balance of payments crisis occurs. In order to test this hypothesis, we employ the first order autoregression based on the panel data on exchange rate...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Banja Luka, Faculty of Economics
2021-06-01
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| Series: | Acta Economica |
| Subjects: | |
| Online Access: | https://ae.ef.unibl.org/index.php/ae/article/view/394 |