01603cas a2200241 a 4500 AALejournalIMF000729 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451856705 1018-5941 BD-DhAAL BD-DhAAL Liang, Hong. Real Exchange Rate Volatility : Does the Nominal Exchange Rate Regime Matter? / Hong Liang. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different econometric methods, over the period 1880-1997. It finds strong evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an important role in determining the persistence of shocks to the RER. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1998/147 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/147/001.1998.issue-147-en.xml IMF e-Library