WORKING PAPER SERIES NO 1353 / JUNE 2011 EXCHANGE RATE ANCHORING IS THERE STILL A DE FACTO US DOLLAR STANDARD? by Thierry Bracke and Irina Bunda WORKING PAPER SERIES NO 1353 / JUNE 2011 EXCHANGE RATE ANCHORING – IS THERE STILL A DE FACTO US DOLLAR STANDARD? 1 by Thierry Bracke 2 and Irina Bunda 3 NOTE: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB. In 2011 all ECB publications feature a motif taken from the €100 banknote. This paper can be downloaded without charge from http://www.ecb.europa.eu or from the Social Science Research Network electronic library at http://ssrn.com/abstract_id=1857395. 1 This paper should not be reported as representing the views of the ECB or the IMF. The views expressed in this paper are those of the authors and do not necessarily represent those of the ECB or the IMF. The authors would like to thank Mangal Goswami, Rajan Govil, Joshua Greene and Sunil Sharma and for their useful comments. 2 Corresponding author: European Central Bank, Kaiserstrasse 29, D-60311 Frankfurt am Main, Germany; e-mail:
[email protected] 3 IMF-Singapore Regional Training Institute, 10 Shenton Way, MAS Building, Singapore 079117; e-mail:
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