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Misalignment Liabilities Dollarization And Exchange Rate Adjustement In Latin America
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Book Synopsis Misalignment, Liabilities Dollarization and Exchange Rate Adjustment in Latin America by : Enrique Alberola Ila
Download or read book Misalignment, Liabilities Dollarization and Exchange Rate Adjustment in Latin America written by Enrique Alberola Ila and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Misalignment, Liabilities Dollarization and Exchange Rate Adjustment in Latin America by : Enrique Alberola
Download or read book Misalignment, Liabilities Dollarization and Exchange Rate Adjustment in Latin America written by Enrique Alberola and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Misalignment, Liabilities, Dollarization and Exchange Rate Adjustement in Latin America by : Enrique Alberola Ila
Download or read book Misalignment, Liabilities, Dollarization and Exchange Rate Adjustement in Latin America written by Enrique Alberola Ila and published by . This book was released on 2003 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Currency Mismatch and Crisis in Latin America by : Stephen James Weymouth
Download or read book Currency Mismatch and Crisis in Latin America written by Stephen James Weymouth and published by . This book was released on 2005 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy Publisher : ISBN 13 : Total Pages :88 pages Book Rating :4.0/5 ( download)
Book Synopsis Monetary Stability in Latin America by : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy
Download or read book Monetary Stability in Latin America written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy and published by . This book was released on 2000 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Another Look at Exchange Rate and Monetary Regime Options for Latin America by : Vittorio Corbo
Download or read book Another Look at Exchange Rate and Monetary Regime Options for Latin America written by Vittorio Corbo and published by . This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Unions and Hard Pegs:Effects on Trade, Financial Development, and Stability by : Volbert Alexander
Download or read book Monetary Unions and Hard Pegs:Effects on Trade, Financial Development, and Stability written by Volbert Alexander and published by OUP Oxford. This book was released on 2004-03-25 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial services with global reach are becoming ever more important in the conduct and organization of the trade and investment of nations, and currencies that lack international standing lose out in this business. The result of financial development has been destabilizing currency and portfolio substitution -- in favour of international currencies and against local ones.This book analyses formal approaches to overcoming monetary divisions within countries and within integrating regions, focusing on the consequences of monetary union for trade among union members and their financial development and stability. The authors discuss hard pegs such as those attempted by the currency board of Argentina, outright dollarization, such as in Ecuador, and multilateral monetary union, as in Europe, the least reversible form of monetary union and the most powerful elixir offinancial integration and trade.The political classes and central banks in most countries have been reluctant to admit the market- and technology-driven forces of currency consolidation, much less yield to them. International financial institutions too are still in the habit of proffering advice about national monetary and exchange-rate policies on the assumption that getting rid of both is not even an option. Emerging-market countries, in particular, have to choose between retaining what independent monetary means they stillhave -- and can safely use in the presence of widespread liability dollarization and currency mismatches -- and formally replacing the domestic with an international currency to reduce exposure to debilitating financial crises. In concrete investigations of this choice, this volume shows thatmonetary union deserves a much more sympathetic hearing.
Book Synopsis An Evaluation of Monetary Regime Options for Latin America by : Andrew Berg
Download or read book An Evaluation of Monetary Regime Options for Latin America written by Andrew Berg and published by International Monetary Fund. This book was released on 2002-12 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: We assess monetary regime options for Latin American countries. The costs of a common currency are likely to outweigh its benefits, as those countries face diverse economic shocks, do not trade much with each other, and are affected by common international financial shocks only to the same extent as the average pair of emerging markets. Unilateral dollarization would be desirable only for those countries where there are strong links to the U.S. economy, the credibility of the monetary authorities is irreversibly lost, and there is keen demand for dollar-denominated financial assets. Finally, some countries in the region seem to be good candidates for meaningful and useful floating.
Book Synopsis Latin American Debt and the Adjustment Crisis by : Rosemary Thorp
Download or read book Latin American Debt and the Adjustment Crisis written by Rosemary Thorp and published by . This book was released on 1987 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Dollarization in Latin America by : Robert Rennhack
Download or read book Financial Dollarization in Latin America written by Robert Rennhack and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper tests several explanations for financial dollarization (FD), with an emphasis on Latin America. The results provide evidence that FD is a rational response to inflation uncertainty. The paper builds on previous research by finding that an exchange rate policy biased towards currency depreciation and currency mismatches tends to contribute to high FD and that FD is highly persistent. These results suggest that countries with significant FD should encourage the use of domestic currency by maintaining macroeconomic stability; allowing more exchange rate flexibility and less bias towards currency depreciation; and adapting prudential regulations to ensure that costs associated with FD are fully internalized in financial contracts. At the same time, restoring confidence in the domestic currency may take many years of sound policies.
Book Synopsis Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability by : Guillermo A. Calvo
Download or read book Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability written by Guillermo A. Calvo and published by . This book was released on 2003 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We offer an alternative explanation for the fall of Argentina's Convertibility Program based on the country's vulnerability to Sudden Stops in capital flows. Sudden Stops are typically accompanied by a substantial increase in the real exchange rate that breaks havoc in countries that are heavily dollarized in their liabilities, turning otherwise sustainable fiscal and corporate sector positions into unsustainable ones. In particular, we stress that the required change in relative prices is larger the more closed an economy is in terms of its supply of tradable goods. By contrasting Argentina's performance relative to other Latin American countries that were also subject to the Sudden Stop triggered by the Russian crisis of 1998, we identify key vulnerability indicators that separated Argentina from its piers. We also provide an explanation for the political maelstrom that ensued after the Sudden Stop, based on a War of Attrition argument related to the wealth redistribution conflict triggered by the Sudden Stop and fiscal collapse. This framework also provides elements to rationalize the banking crisis that accompanied the fall of Convertibility.
Book Synopsis Currency Substitution by : Victor A. Canto
Download or read book Currency Substitution written by Victor A. Canto and published by Springer. This book was released on 1987-03-31 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work grew out of a series of investigations begun by the authors in 1980 and 1981. Specifically the authors pursued two lines of inquiry. First, to advance the state of the theoretical lit erature to better explain the crises of liberalization which seemed to be afflicting the third world in general and Latin America in particular. To do this, several different kinds of models were in vestigated and adapted. These are presented in Chapters 2, 3 and 5. Secondly an analysis of the empirical evidence was conducted in order to gain insight into the processes that were thought to be occurring and the theoretical models that were being developed. Some of this work appears in Chapters 3, 4, 5 and 6. Other work by the authors on these issues has been published elsewhere and is referenced herein. There are a great many people whose work and whose com ments have influenced this work. We would like to especially thank Guillermo Calvo, Michael Connolly, Sebastian Edwards, Roque Fernandez, Michael Darby, Robert Clower, Neil Wallace, John Kareken, Paul McNelis, Jeffrey Nugent, Jaime Marquez, Lee Ohanian, Leroy Laney, Jorge Braga de Macedo, Dale Henderson, vii Matthew Canzoneiri, Arthur Laffer, Marc Miles, and George Von Furstenberg whose ideas and comments gave rise to much of our work. We would like to thank Suh Lee for his assistance with the computations in Chapter 5.
Download or read book Full Dollarization written by Andrew Berg and published by International Monetary Fund. This book was released on 2000 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes the costs and benefits of full dollarization, or the adoption by one country of another country's currency. Potential advantages include lower borrowing costs and deeper integration into world markets. But countries lose the ability to devalue, and become dependent on the U.S. Compares with currency board option.
Book Synopsis Real Exchange Rates, Dollarization and Industrial Employment in Latin America by : Arturo José Galindo
Download or read book Real Exchange Rates, Dollarization and Industrial Employment in Latin America written by Arturo José Galindo and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a panel dataset on industrial employment and trade for 9 Latin American countries for which liability dollarization data at the industrial level is available. We test whether real exchange rate fluctuations have a significant impact on employment, and analyze whether the impact varies with the degree of liability dollarization. Econometric evidence supports the view that real exchange rate depreciation can impact employment growth positively, but this effect is reversed as liability dollarization increases. In industries with high liability dollarization, the overall impact of a real exchange rate depreciation can be negative.
Book Synopsis Dollar Adjustment: How Far? Against What? by :
Download or read book Dollar Adjustment: How Far? Against What? written by and published by Peterson Institute. This book was released on with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dollar rose about 35 percent in real terms from 1995 to the end of 2001, supporting the US economy of the late 1990s but pushing the current account deficit to a record high. This book looks at the impact of this, examining intervention to achieve desired currency values and the impact of a major dollar realignment on worldwide economies.
Book Synopsis Dedollarization by : Annamaria Kokenyne
Download or read book Dedollarization written by Annamaria Kokenyne and published by International Monetary Fund. This book was released on 2010-08-01 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a summary of the key policies that encourage dedollarization. It focuses on cases in which the authorities’ intention is to gain greater control of monetary policy and draws on the experiences of countries that have successfully dedollarized. Unlike previous work on the subject, this paper examines both macroeconomic stabilization policies and microeconomic measures, such as prudential regulation of the financial system. This study is also the first attempt to make extensive use of the foreign exchange regulation data reported in the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions. The main conclusion is that durable dedollarization depends on a credible disinflation plan and specific microeconomic measures.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781589064539 Total Pages :410 pages Book Rating :4.0/5 (645 download)
Book Synopsis Dollars, Debt, and Deficits by : International Monetary Fund
Download or read book Dollars, Debt, and Deficits written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-09-01 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the challenges facing the international monetary and financial system, as well as the future role of the Bretton Woods institutions in addressing those challenges. The volume is based on the proceedings of a 2004 conference cosponsored by the Banco de Espana and the International Monetary Fund to commemorate the 60th anniversary of the Bretton Woods meetings in July 1944. The chapters look at global imbalances, exchange rate issues, debt in emerging economies, and innovations in private and multilateral lending.
