Exchange Rate Regime Analysis for the Iranian Rial

The exchange rate regime of a country determines how it manages its currency with re-spect to foreign currencies. Broadly speaking, exchange rate regimes range from oating, i.e.,the currency is allowed to uctuate according based on market forces, pegged, i.e., the currencyhas limited exibility when compared with a basket of currencies or a single currency, or xed,i.e., the currency has a xed parity to another currency. Thus in this paper we investigatethe Iranian exchange rate regime. This reproduces the analysis from Zeileis,Shah, and Pat-naik(2010) which includes a more detailed discussion.

کلیدواژه ها:

Linear regression models ، Parameter instability ، Foreign exchange rates