Fig 1.
Labor market flexibility (CBR) by country, year, and exchange rate regime.
Notes: Data for de facto exchange rate regimes from Ilzetzki, Reinhart, and Rogoff [52]. Data for labor market flexibility from Adams et al. [6].
Table 1.
Summary statistics of the main variables, by exchange rate regime (1971, 2000, 2019, and the entire sample).
Table 2.
The effect of exchange rate regimes on economic growth taking into account labor market flexibility.
Table 3.
Total effect of fixed exchange rate regimes on economic growth at different levels of labor market flexibility.
Fig 2.
Average marginal effects of fixed exchange rate regimes on growth (with 95% CIs).
Notes: Based on Column 5 of Table 2.
Table 4.
Dynamic panel analysis of fixed exchange rates and economic growth taking into account labor market flexibility.
Table 5.
Dynamic panel analysis of the total effect of fixed exchange rate regime on economic growth at different labor market flexibility levels: short-run and long-run effects.
Table 6.
The effect of fixed exchange rate regimes on economic growth in developing and developed countries.
Table 7.
Effect of exchange rate fixity on growth with a continuous exchange rate regime measure.
Fig 3.
CBR and Fraser Index data availability.
Notes: Data for CBR from Adams et al.[6]; data for Fraser from Gwartney, Lawson, Hall, and Murphy [7].
Table 8.
The effect of fixed exchange rate regime on economic growth taking into account labor market flexibility with CBR and Fraser measures.