Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes
---- Acknowledgments ----
The authors would like to thank Agnès Bénassy-Quéré, Oyebola Olabisi, Carmen Reinhart and Shang-Jin Wei for comments. A shorter version of this paper is expected to appear in AER Papers and Proceedings, May 2010, and will eliminate most of Sections III and IV and the Tables, to meet space constraints. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.