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Monetary Contracting Between Central Banks And The Design Of Sustainable Exchange Rate Zones
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Book Synopsis Monetary Contracting Between Central Banks and the Design of Sustainable Exchange-rate Zones by : Francisco Delgado
Download or read book Monetary Contracting Between Central Banks and the Design of Sustainable Exchange-rate Zones written by Francisco Delgado and published by . This book was released on 1990 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exchange-rate system is a set of contracts which commits central banks to intervene in the foreign-exchange market. The design features of the system include: the rules of intervention, the limits placed on exchange rates and the "crisis scenario" which describes possible transitions to new regimes in case one central bank runs out of reserves or borrowing capacity. This paper considers the various trade-offs one faces in designing an exchange-rate system. Svensson (1989) has already analyzed the degree of variability in the exchange rate, the interest rate and the fundamentals. But the tradeoff also pertains to the amount of reserves which the central banks must have on hand in order to forestall a speculative attack and make the system sustainable. The amount of reserves needed depends crucially on the assured crisis scenario
Book Synopsis Monetary Contracting between Central Banks and the Design of Sustainableexchange-Rate Zones by : Bernard Dumas
Download or read book Monetary Contracting between Central Banks and the Design of Sustainableexchange-Rate Zones written by Bernard Dumas and published by . This book was released on 2007 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exchange-rate system is a set of contracts which commits central banks to intervene in the foreign-exchange market. The design features of the system include: the rules of intervention, the limits placed on exchange rates and the quot;crisis scenarioquot; which describes possible transitions to new regimes in case one central bank runs out of reserves or borrowing capacity. This paper considers the various trade-offs one faces in designing an exchange-rate system. Svensson (1989) has already analyzed the degree of variability in the exchange rate, the interest rate and the fundamentals. But the tradeoff also pertains to the amount of reserves which the central banks must have on hand in order to forestall a speculative attack and make the system sustainable. The amount of reserves needed depends crucially on the assured crisis scenario.
Book Synopsis Monetary Contracting Between Central Bank and the Design of Sustainable Exchange-rate Zones by : Francisco Delgado
Download or read book Monetary Contracting Between Central Bank and the Design of Sustainable Exchange-rate Zones written by Francisco Delgado and published by . This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary contracting between central banks and the desingn of sustainable exchange-rate zones by : Francisco Delgado
Download or read book Monetary contracting between central banks and the desingn of sustainable exchange-rate zones written by Francisco Delgado and published by . This book was released on 1990 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Targets and Currency Bands by : Paul Krugman
Download or read book Exchange Rate Targets and Currency Bands written by Paul Krugman and published by Cambridge University Press. This book was released on 1992-10-22 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the intersection between a new analytical approach and a real economic problem.
Book Synopsis The Monetary Model of Exchange Rates and Cointegration by : Javier Gardeazabal
Download or read book The Monetary Model of Exchange Rates and Cointegration written by Javier Gardeazabal and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: These notes draw from the Theory of Cointegration in order to test the monetary model of exchange rate determination. Previous evidence shows that the monetary model does not capture the short run dynamics of the exchange rate, specially when assessed in terms of forecasting accuracy. Even though the monetary equations of exchange rate determination may be bad indicators of how exchange rates are determined in the short run, they couldstill describe long run equilibrium relationships between the exchange rate and its fundamentals. Stationary deviations from those long run relationships are allowed in the short run. This book also addresses severalissues on Cointegration. Chapter 6 studies the small sample distribution of the likelihood ratio test statistics (on the dimension and restrictions on the cointegrating space) under deviations from normality. This monograph also focuses on the issue of optimal prediction in partially nonstationary multivariate time series models. In particular, it caries out an exchange rate prediction exercise.
Book Synopsis The Macroeconomic Theory of Exchange Rate Crises by : Giovanni Piersanti
Download or read book The Macroeconomic Theory of Exchange Rate Crises written by Giovanni Piersanti and published by Oxford University Press. This book was released on 2012-04-26 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: An overview of the causes and consequences of speculative attacks on domestic currency and international financial turmoil. It provides a comprehensive treatment of the existing theories of exchange rate crises and of financial market runs.
Book Synopsis Soft Exchange Rate Bands and Speculative Attacks by : Mr.Alessandro Prati
Download or read book Soft Exchange Rate Bands and Speculative Attacks written by Mr.Alessandro Prati and published by International Monetary Fund. This book was released on 1998-11-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a model of a “soft” exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past exchange rates, rather than the exchange rate’s current level, thus allowing the rate to move within wide margins in the short run, but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than “hard” target zones. These predictions are consistent with the ERM’s experience and the abatement of speculative pressure in European markets since the bands’ widening in 1993.
Book Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Book Synopsis Target Zones and Forward Rates in a Model with Repeated Realignments by : Mr.Leonardo Bartolini
Download or read book Target Zones and Forward Rates in a Model with Repeated Realignments written by Mr.Leonardo Bartolini and published by International Monetary Fund. This book was released on 1992-03-01 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the implications of the imperfect credibility of an exchange rate target zone on the term structure of forward premia. The relationship between spot and forward exchange rates of different maturities reflects the possibility of repeated realignments of the exchange rate band. The credibility of the commitment to the target zone implicit in forward market data can be extracted by estimating the model. Application to French/German data indicates that the model is capable of matching observed patterns of interest rate differentials during the EMS, while yielding estimates of the credibility parameters that accord with the experience of the FF/DM exchange rate during the 1980s.
Download or read book Academic Writing written by Eija Ventola and published by John Benjamins Publishing. This book was released on 1996-01-01 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Writing is crucial to the academic world. It is the main mode of communication among scientists and scholars and also a means for students for obtaining their degrees. The papers in this volume highlight the intercultural, generic and textual complexities of academic writing. Comparisons are made between various traditions of academic writing in different cultures and contexts and the studies combine linguistic analyses with analyses of the social settings in which academic writing takes place and is acquired. The common denominator for the papers is writing in English and attention is given to native-English writers' and non-native writers' problems in different disciplines. The articles in the book introduce a variety of methodological approaches for analyses and search for better teaching methods and ways of improving the syllabi of writing curricula. The book as a whole illustrates how linguists strive for new research methods and practical applications in applied linguistics.
Book Synopsis The Derivatives Sourcebook by : Terence Lim
Download or read book The Derivatives Sourcebook written by Terence Lim and published by Now Publishers Inc. This book was released on 2006 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Derivatives Sourcebook is a citation study and classification system that organizes the many strands of the derivatives literature and assigns each citation to a category. Over 1800 research articles are collected and organized into a simple web-based searchable database. We have also included the 1997 Nobel lectures of Robert Merton and Myron Scholes as a backdrop to this literature.
Book Synopsis Capital Mobility by : Leonardo Leiderman
Download or read book Capital Mobility written by Leonardo Leiderman and published by Cambridge University Press. This book was released on 1994-07-14 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume examines capital mobility in both industrialised and developing countries.
Book Synopsis Handbook of International Economics by : G.M. Grossman
Download or read book Handbook of International Economics written by G.M. Grossman and published by Elsevier. This book was released on 1995-12-13 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt: This reference accords recognition to the recent revolution in macroeconomics wrought by imperfect competition. Grossman and Rogoff (Princeton U.) present chapters by two dozen contributors on two prime areas of research interest: international trade theory and policy (e.g. strategic trade patterns and policies, the relationship between trade and technological progress), and open economy macroeconomics and international finance (covering such topics as exchange rates, foreign lending, and policy coordination). The volume commences with Krugman's overview of the positive theory of international trade, and concludes with analyses of sovereign debt. Annotation copyrighted by Book News, Inc., Portland, OR.
Book Synopsis Monetary Policy with Negative Interest Rates: Decoupling Cash from Electronic Money by : Katrin Assenmacher
Download or read book Monetary Policy with Negative Interest Rates: Decoupling Cash from Electronic Money written by Katrin Assenmacher and published by International Monetary Fund. This book was released on 2018-08-27 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary policy space remains constrained by the lower bound in many countries, limiting the policy options available to address future deflationary shocks. The existence of cash prevents central banks from cutting interest rates much below zero. In this paper, we consider the practical feasibility of recent proposals for decoupling cash from electronic money to achieve a negative yield on cash which would remove the lower bound constraint on monetary policy. We discuss how central banks could design and operate such a system, and raise some unanswered questions.
Download or read book IBSS: Economics: 1993 Vol 42 written by and published by Psychology Press. This book was released on 1994 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: This bibliography lists the most important works published in economics in 1993. Renowned for its international coverage and rigorous selection procedures, the IBSS provides researchers and librarians with the most comprehensive and scholarly bibliographic service available in the social sciences. The IBSS is compiled by the British Library of Political and Economic Science at the London School of Economics, one of the world's leading social science institutions. Published annually, the IBSS is available in four subject areas: anthropology, economics, political science and sociology.
Book Synopsis Knowledge, Innovation and Internationalisation by : Piergiuseppe Morone
Download or read book Knowledge, Innovation and Internationalisation written by Piergiuseppe Morone and published by Routledge. This book was released on 2013-04-17 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: As firms increasingly rely on knowledge as a key factor for innovation, the ability to innovate is increasingly perceived as a key asset for being competitive in international markets. This new volume argues that innovation, knowledge and internationalisation should be viewed as tightly related concepts. It provides a stimulating and comprehensive framework for understanding key tendencies in modern economics, as well as an overview of the state of the art in the three fields covered. The first section explores in detail the relationship between knowledge and the innovative capability of firms, focussing on key topics such as social capital, intentional knowledge diffusion and unintentional knowledge spillovers. Section two examines the drivers and the impact of innovation strategies, assessing the role of technological advantage, networking and R & D investments in innovation, as well as the impact on innovation on the labour market. The third and final section examines the ongoing internationalisation process faced by ‘global’ economies. The topics explored in each section are tightly linked, ensuring that a strong thematic thread runs through the collection.
