The Macroeconomic Implication of Exchange Rate Regimes

25 Pages Posted: 22 Aug 2011 Last revised: 24 Jan 2012

See all articles by Dushko Josheski

Dushko Josheski

University Goce Delcev

Ljubica Cikarska

University Goce Delcev

Cane Koteski

University Goce Delcev

Abstract

This study investigates the relation between macroeconomic variables such as real GDP growth, inflation, unemployment rate, trade deficit and the exchange regimes. The idea is to explore whether the macroeconomic indicators give better result when are under the influence of fixed or fluctuating exchange rates. In order to obtain relevant results, we took 5 countries with fixed and 5 countries with floating exchange rates. The paper also concerns the Macedonian exchange rate regimes. Here the focus is put on two periods. The first one is from 1993-1995 when the country had fluctuating exchange rate. The second period is from 1995 till now - 2011, when Macedonia has been implementing a regime of fixed pegged exchange rate.

Keywords: exchange rate, macroeconomic variables

JEL Classification: F31, F40, C00

Suggested Citation

Josheski, Dushko and Cikarska, Ljubica and Koteski, Cane, The Macroeconomic Implication of Exchange Rate Regimes. Available at SSRN: https://ssrn.com/abstract=1913881 or http://dx.doi.org/10.2139/ssrn.1913881

Dushko Josheski (Contact Author)

University Goce Delcev ( email )

Stip
Macedonia
+389 32 550 000 (Phone)
+389 32 390 700 (Fax)

HOME PAGE: http://www.ugd.edu.mk/

Ljubica Cikarska

University Goce Delcev ( email )

PO box 201
Stip, 2000

Cane Koteski

University Goce Delcev ( email )

PO box 201
Stip, 2000
Macedonia

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