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Flexible Exchange Rates Fixed Exchange Rates And The Theory Of Currency Baskets Aspects Of Choosing An Exchange Rate Regime For Developing Countries
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Book Synopsis Flexible Exchange Rates, Fixed Exchange Rates and the Theory of Currency Baskets Aspects of Choosing an Exchange Rate Regime for Developing Countries by : Anne Marie Gulde
Download or read book Flexible Exchange Rates, Fixed Exchange Rates and the Theory of Currency Baskets Aspects of Choosing an Exchange Rate Regime for Developing Countries written by Anne Marie Gulde and published by . This book was released on 1985 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Moving to a Flexible Exchange Rate by : Mrs.Gilda Fernandez
Download or read book Moving to a Flexible Exchange Rate written by Mrs.Gilda Fernandez and published by International Monetary Fund. This book was released on 2006-01-09 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary independence. Other countries have made the transition under disorderly conditions, with the sharp depreciation of their currency during a crisis. Regardless of the reason for adopting a flexible exchange rate, a successful transition depends on the effective management of a number of institutional and operational issues. The authors of this Economic Issue describe the necessary ingredients for moving to a flexible regime, as well as the optimal pace and sequencing under different conditions.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557756923 Total Pages :28 pages Book Rating :4.7/5 (569 download)
Book Synopsis Fixed or Flexible by : International Monetary Fund
Download or read book Fixed or Flexible written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-04-17 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the recent evolution of exchange rate policies inthe developing world. It looks at why so many countries have made a transition from fixed or "pegged" exchange rates to "managed floating"currencies. It discusses how economies perform under different exchangerate arrangements, issues in the choice of regime, and the challenges poised by a world of increasing capital mobility, especially when bankingsectors are inadequately regulated or supervised.
Book Synopsis Exchange Rate Policy in Developing Countries by : Mr.Mohsin S. Khan
Download or read book Exchange Rate Policy in Developing Countries written by Mr.Mohsin S. Khan and published by International Monetary Fund. This book was released on 1991-05-15 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses analytical aspects of exchange rate policy and emphasizes the relationship among exchange rate flexibility, financial discipline, and international competitiveness.
Book Synopsis Changes in Exchange Rates in Rapidly Developing Countries by : Takatoshi Ito
Download or read book Changes in Exchange Rates in Rapidly Developing Countries written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.
Book Synopsis Flexible Exchange Rates for a Stable World Economy by : Joseph E. Gagnon
Download or read book Flexible Exchange Rates for a Stable World Economy written by Joseph E. Gagnon and published by Peterson Institute. This book was released on 2011 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
Book Synopsis Flexible Exchange Rates/h by : Jan Herin
Download or read book Flexible Exchange Rates/h written by Jan Herin and published by Routledge. This book was released on 2019-03-12 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the papers, comments, and the discussion at a conference on "Flexible Exchange Rates and Stabilization Policy", held at Saltsjobaden, Stockholm, August 26–27, 1975. The papers integrate the flexible exchange rates theory with macro theory and stabilization policy analysis. .
Book Synopsis Evolution and Performance of Exchange Rate Regimes by : Mr.Kenneth Rogoff
Download or read book Evolution and Performance of Exchange Rate Regimes written by Mr.Kenneth Rogoff and published by International Monetary Fund. This book was released on 2003-12-01 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility.
Book Synopsis No Pain, All Gain? Exchange Rate Flexibility and the Expenditure-Switching Effect by : Mr.Yan Carriere-Swallow
Download or read book No Pain, All Gain? Exchange Rate Flexibility and the Expenditure-Switching Effect written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2018-10-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical models on the relationship between prices and exchange rates predict that the magnitude of expenditure switching affects the optimal choice of exchange rate regime. Focusing on the transmission of terms-of-trade shocks to domestic real variables we document that the magnitude of the expenditure switching effect is positively associated to the degree of exchange rate flexibility. Moreover, results show that flexible exchange rates allow for significant adjustment in relative prices, which in turn lowers the burden of adjustment on demand for domestic goods and, in some cases, facilitates a faster and more durable external adjustment process. These results, which are robust to accounting for possible non-linearities due to balance sheet effects or currency mismatches, shed new light on the shock absorbing properties of flexible exchange rates.
Book Synopsis Do "Flexible" Exchange Rates of Developing Countries Behave Like the Floating Exchange Rates of Industrialized Countries? by : Peter Wickham
Download or read book Do "Flexible" Exchange Rates of Developing Countries Behave Like the Floating Exchange Rates of Industrialized Countries? written by Peter Wickham and published by International Monetary Fund. This book was released on 2002-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines the behavior of daily spot exchange rates for a sample of industrialized countries which are generally considered to be floating with only occasional official foreign exchange market intervention. This behavior is then compared to the behavior of the exchange rates of a sample of sixteen developing countries whose regimes are often classified as being “flexible”. Considerable differences in the way these developing countries’ exchange rate regimes operate is apparent from the daily data, with some sharing similarities with the regimes of the industrialized countries and with others demonstrating regime shifts and other marked discontinuities.
Book Synopsis Currency Politics by : Jeffry A. Frieden
Download or read book Currency Politics written by Jeffry A. Frieden and published by Princeton University Press. This book was released on 2014-12-28 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Book Synopsis Fixed or Flexible Exchange Rates? History and Perspectives by : Marin Muzhani
Download or read book Fixed or Flexible Exchange Rates? History and Perspectives written by Marin Muzhani and published by Vernon Press. This book was released on 2018-03-31 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book compares and contrasts flexible versus fixed exchange rate regimes. Beginning with their theoretical justifications, it showcases their observed advantages and disadvantages as they played out in the currency crises of the 1990s and early 2000s across Asia, Europe and Latin America. An analysis of the drivers and implications of these crises singles out fast-paced liberalization and globalization as having played central roles. Moreover it sheds light on some of the factors contributing to the 2008 financial crisis and the key monetary events in its aftermath. An accessible, yet rigorous discussion, supported by extensive evidence, helps readers reach their own conclusions regarding the respective merits of alternative exchange rate systems.
Book Synopsis The Politics of Exchange Rates in Developing Countries by : Ralph Setzer
Download or read book The Politics of Exchange Rates in Developing Countries written by Ralph Setzer and published by Springer Science & Business Media. This book was released on 2006-09-21 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the issue of exchange rate policymaking from a political economy perspective. It illustrates both theoretically and empirically how domestic political and institutional incentives shape exchange rate policies in developing countries. Empirical analysis is based on a panel survey of 47 countries and thereby provides insights on how political and institutional conditions typically affect exchange rate policy.
Book Synopsis Fixed or Floating Exchange Regimes by : Peter J. Quirk
Download or read book Fixed or Floating Exchange Regimes written by Peter J. Quirk and published by International Monetary Fund. This book was released on 1994-11-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews recent experience with the choice of floating or fixed (“anchor”) exchange regimes in industrial and developing countries. It concludes that desirable differences between the two sets of regimes have narrowed, owing to the useful operational role of exchange rate margins and unavoidable medium-term rate adjustments in the context of fixed regimes. A survey of recent empirical cross-country literature also suggests little unambiguous association of the choice of exchange regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has generally been a by-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility depend on the country-specific assignments of policy instruments to more than one institution--central bank, government, or regional and multilateral institutions.
Book Synopsis Economic Adjustment and Exchange Rates in Developing Countries by : Sebastian Edwards
Download or read book Economic Adjustment and Exchange Rates in Developing Countries written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of the attention paid exchange rates in recent economic debates on developing countries, relatively few studies have systematically analyzed in detail the various ramifications of exchange rate policy in these countries. In this new volume from the National Bureau of Economic Research, leading economists use rigorous models to tackle various exchange rate issues, while also illuminating policy implications that emerge from their analyses. The volume, divided into four main sections, addresses: the role of exchange rates in stabilization programs and the adjustment process; the importance of exchange rate policy during liberalization reform in developing countries; exchange rate problems relevant and unique to developing countries, illustrated by case studies; and the problems defining, measuring, and identifying determinants of real exchange rates. Authors of individual papers examine the relation between commercial policies and exchange rates, the role of exchange rate policy in stabilization programs, the effectiveness of devaluations as a policy tool, and the interaction between exchange rate terms of trade an capital flow. This research will not only prove crucial to our understanding of the role of exchange rates in developing countries, but will clearly set the standard for future work in the field.
Author :Organisation for Economic Co-operation and Development. Development Centre Publisher :OECD Publishing ISBN 13 : Total Pages :104 pages Book Rating :4.:/5 (318 download)
Book Synopsis Don't Fix, Don't Float by : Organisation for Economic Co-operation and Development. Development Centre
Download or read book Don't Fix, Don't Float written by Organisation for Economic Co-operation and Development. Development Centre and published by OECD Publishing. This book was released on 2001 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Don ́t Fix, Don ́t Float is a book about credibility, or lack thereof. It deals with questions pertaining to international financial architecture from the perspective of developing countries, emerging markets and transition economies. Should the monetary authority fix the exchange rate of the national currency? Should it instead let the currency float in foreign exchange markets? What about bands, baskets and crawls between the fix and the float corners? Answering these questions is of significance to the national economy involved and, with regard to global finance, often beyond. In the same way that there may never be a pure float, even among key currencies, an instant fix does not provide a fast lane to credibility. Credibility is earned abroad as the development process reinforces institution building in monetary, financial and budgetary matters. Indeed, rules for budgetary adjustment (such as the zero deficit in Argentina or the EU Stability and Growth Pact) are necessary for any exchange-rate regime to deliver economic growth and development. In Don ́t Fix, Don ́t Float, the case for intermediate regimes is made for five country groups in Africa, Asia and Latin America. Developing countries, emerging markets and transition economies, together with the OECD area, are facing the consequences of a worsening global economic outlook. In this environment, the development perspective underlying Don t Fix, Don t Float is clearly essential.
Book Synopsis Floating Exchange Rates in Developing Countries by : Peter J. Quirk
Download or read book Floating Exchange Rates in Developing Countries written by Peter J. Quirk and published by International Monetary Fund. This book was released on 1987-05-15 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, an increasing number of developing countries have adopted market-determined floating exchange rates. This development has represented a significant step forward in the evolution toward exchange rate flexibility that has taken place in the developing country group since the adoption of generalized floating by industrial countries in 1973.
