Owing to dissatisfaction with the IMF's de jure classification of exchange-rate regimes, a
substantial literature has emerged presenting de facto classifications of exchange-rate …

This paper analyses the factors that govern the choice of the currency composition of official
foreign exchange reserves. First, we introduce a new panel dataset on the key currencies in …

Abstract The IMF Articles of Agreement forbid a country from manipulating its currency for
unfair advantage. The US Treasury has been legally required since 1988 to report to …

We propose a regime-switching setting to assess the role of the Chinese renminbi in Asia.
Our contribution relies on nonlinear coefficient constraints to detect periods during which …

The paper offers a new approach to estimate de facto exchange rate regimes, a synthesis of
two techniques. One is a technique that the authors have used in the past to estimate implicit …

The present paper updates the question: what precisely is the exchange rate regime that
China has put into place since 2005, when it announced a move away from the US dollar …

Linear regression models for de facto exchange rate regime classification are
complemented by inferential techniques for evaluating the stability of the regimes. To …

This study divides the world into currency zones according to the co-movement of each
currency with the key currencies. The dollar zone groups economies that produce well over …

This paper examines whether the renminbi (RMB) has supplanted the US dollar as the
major anchor currency in the implicit currency baskets of East Asian economies. First, we …

Well‐developed financial markets are a necessary condition for a currency to play a role as
a reserve currency. The introduction of the euro greatly improved the functioning of euro …