COULD THE EXCHANGE RATE REGIME REDUCE MACROECONOMIC VOLATILITY

摘要: This study intends to determine the relationship existing between exchange rate regime and real volatility. After revising theoretical empirical results of previous research, it is proposed a new methodology that corrects deficiencies papers. The show non-neutrality regime. Particularly, found more rigid grater volatility will be. Even when performed an classification allows comparison consistent pegging floating, former has higher Countries with “fear floating†behavior exhibit lower than pegs