How Reliable are De Facto Exchange Rate Regime Classifications?
---- Acknowledgements ----
We thank Carmen Reinhart, Kenneth Rogoff, Eduardo Levy-Yeyati, Federico Sturzenegger, Andrea Bubula, Inci Otker-Robe and Atish Ghosh for sharing their data and Eduardo Levy-Yeyati and Andy Rose for their comments. Barry Eichengreen acknowledges having periodically done consulting for the International Monetary Fund, which constructed the de jure exchange rate series that is a subject of this paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.