| Exchange Rate Regime | PC Slope | t-stat | Adj. R2 | N |
|---|---|---|---|---|
| Fixed / Peg | -1.13*** | -10.1 | 24.3% | 352 |
| Crawling Peg | -1.56*** | -7.3 | 28.9% | 224 |
| Crawling Band | -1.57*** | -7.8 | 26.7% | 309 |
| Floating | -1.38*** | -4.9 | 28.4% | 125 |
| Inflation | ||||
| Fixed / Peg | Crawling Peg | Crawling Band | Floating | |
| (1) | (2) | (3) | (4) | |
| Unemployment | -1.134*** | -1.562*** | -1.568*** | -1.381*** |
| (0.112) | (0.215) | (0.200) | (0.284) | |
| factor(countryname)Austria | -8.604** | |||
| (3.872) | ||||
| factor(countryname)Belgium | -3.813 | |||
| (3.646) | ||||
| factor(countryname)Bulgaria | -4.598 | |||
| (4.110) | ||||
| factor(countryname)Brazil | 5.493 | |||
| (7.318) | ||||
| factor(countryname)Canada | 1.237 | -3.420 | ||
| (3.196) | (7.141) | |||
| factor(countryname)Czech Republic | -8.497** | |||
| (3.965) | ||||
| factor(countryname)Denmark | -6.695* | -2.260 | ||
| (3.818) | (3.192) | |||
| factor(countryname)Estonia | -2.629 | |||
| (4.098) | ||||
| factor(countryname)Finland | -3.349 | -1.166 | ||
| (3.803) | (3.275) | |||
| factor(countryname)Chile | -0.650 | |||
| (7.148) | ||||
| factor(countryname)Colombia | 5.677 | |||
| (7.116) | ||||
| factor(countryname)France | -3.773 | 0.525 | -6.829 | |
| (3.745) | (3.514) | (9.867) | ||
| factor(countryname)Germany | -8.172** | -3.241 | ||
| (3.859) | (1.979) | |||
| factor(countryname)Greece | 0.974 | |||
| (4.043) | ||||
| factor(countryname)Hungary | -3.462 | -6.934 | ||
| (4.016) | (9.761) | |||
| factor(countryname)Ireland | -3.116 | 5.922 | ||
| (3.845) | (4.550) | |||
| factor(countryname)Iceland | -6.207 | |||
| (7.193) | ||||
| factor(countryname)Israel | -2.054 | |||
| (7.058) | ||||
| factor(countryname)Italy | -5.079 | 3.727 | 6.937 | |
| (3.828) | (3.446) | (7.424) | ||
| factor(countryname)Japan | -0.294 | -2.806 | -10.681*** | |
| (7.723) | (3.566) | (1.476) | ||
| factor(countryname)Latvia | -0.210 | -9.656 | ||
| (4.499) | (7.961) | |||
| factor(countryname)Lithuania | -4.314 | |||
| (4.200) | ||||
| factor(countryname)Luxembourg | -7.127* | |||
| (4.171) | ||||
| factor(countryname)Mexico | -8.416 | |||
| (7.281) | ||||
| factor(countryname)Korea | -10.648*** | -11.641 | ||
| (3.754) | (7.193) | |||
| factor(countryname)Netherlands | -4.369 | -2.726 | ||
| (3.705) | (3.620) | |||
| factor(countryname)New Zealand | -2.024 | -4.715 | ||
| (5.280) | (7.041) | |||
| factor(countryname)Norway | -10.947 | -8.715 | ||
| (7.723) | (7.095) | |||
| factor(countryname)Poland | -5.980 | 4.580 | ||
| (4.559) | (7.447) | |||
| factor(countryname)Portugal | -5.704 | 2.572 | ||
| (3.824) | (4.520) | |||
| factor(countryname)Romania | -6.922 | -13.463** | ||
| (4.929) | (5.408) | |||
| factor(countryname)Slovak Republic | -4.364 | 18.081*** | ||
| (4.390) | (5.493) | |||
| factor(countryname)Slovenia | -10.632** | |||
| (4.198) | ||||
| factor(countryname)Spain | 4.333 | 15.482*** | ||
| (4.048) | (3.739) | |||
| factor(countryname)South Africa | 26.900*** | |||
| (7.687) | ||||
| factor(countryname)Sweden | -7.759 | -3.735 | -2.420 | |
| (5.983) | (3.169) | (7.137) | ||
| factor(countryname)Switzerland | -9.128* | -14.690** | ||
| (5.282) | (7.133) | |||
| factor(countryname)United Kingdom | -5.117 | -0.020 | -4.667** | |
| (5.984) | (7.009) | (1.830) | ||
| factor(countryname)United States | -3.385 | -5.455 | -2.934*** | |
| (7.733) | (9.789) | (1.079) | ||
| N | 381 | 243 | 331 | 131 |
| Adjusted R2 | 0.243 | 0.289 | 0.267 | 0.284 |
| Note: | Data | |||
