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Evaluating the effect of de facto pages on currency crises using matching methods
https://kobe-cufs.repo.nii.ac.jp/records/1211
https://kobe-cufs.repo.nii.ac.jp/records/12112138aed8-66fe-434e-879b-0fcc7405fa06
| Item type | 研究報告書 / Research Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2010-08-17 | |||||
| タイトル | ||||||
| タイトル | Evaluating the effect of de facto pages on currency crises using matching methods | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Exchange rate regimes | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Capital account Iiberalization | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Currency crises | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Self-selection bias | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Propensity score matching | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18ws | |||||
| 資源タイプ | research report | |||||
| アクセス権 | ||||||
| アクセス権 | metadata only access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
| 著者 |
Esaka, Taro
× Esaka, Taro |
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| 著者所属機関 | ||||||
| 値 | Kobe City University of Foreign studies | |||||
| 雑誌名 |
en : Kobe city university of foreign studies working paper series 号 37, p. 1-32, 発行日 2010-08-17 |
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| 出版者 | ||||||
| 出版者 | Institute for foreign studies Kobe city university of foreign studies | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This paper empirically evaluates the treatment effect of de facto pegged regimes on the occurrence of currency crises. To estimate the treatment effect of pegged regimes properly, we must carefully control for the self-selection problem of regime adoption because a country's exchange rate regime choice is nonrandom. However, because previous studies do not explicitly address this problem, these studies can lead to biased estimates of treatment effects. To address the self-selection problem, we thus employ a variety of propensity score matching methods. In addition, we use the covariate matching method of Abadie and Imbens (2006) to test the robustness of the results in propensity score matching methods. We find interesting and robust evidence that (1) pegged regimes significantly decrease the likelihood of currency crises compared with floating regimes, and (2) pegged regimes with capital account liberalization significantly lower the likelihood of currency crises compared with other regimes. | |||||
| 分類 | ||||||
| 値 | JEL classification:F31;F33 | |||||
