Real Exchange Rates Dollarization And Industrial Employment In Latin America

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Real Exchange Rates, Dollarization and Industrial Employment in Latin America

Author : Arturo José Galindo
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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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.

Currency Substitution

Author : Victor A. Canto
Publisher : Springer Science & Business Media
ISBN 13 : 9400932618
Total Pages : 203 pages
Book Rating : 4.4/5 (9 download)

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Book Synopsis Currency Substitution by : Victor A. Canto

Download or read book Currency Substitution written by Victor A. Canto and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 203 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.

Exchange Rate Politics in Latin America

Author : Carol Wise
Publisher : Rowman & Littlefield
ISBN 13 : 9780815716846
Total Pages : 196 pages
Book Rating : 4.7/5 (168 download)

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Book Synopsis Exchange Rate Politics in Latin America by : Carol Wise

Download or read book Exchange Rate Politics in Latin America written by Carol Wise and published by Rowman & Littlefield. This book was released on 2011-03-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most of the analysis of Latin American exchange rate problems and policies has concentrated on the economic side of things. This volume instead examines the politics of exchange rate management in four nations that had very different approaches and results. Although the Mexican peso crash, Brazil's currency crisis, Argentina's maintenance of a currency board, and Venezuelan policy responses to the shocks of 1997-98 have had major international financial ramifications, the origins and outcomes of these dramatic events have yet to be analyzed in a single volume. The contributors tie these policy episodes together using solid comparative analysis, in order to better inform the policy debate on these issues.

The Currency Game

Author : Jeffry A. Frieden
Publisher : IDB
ISBN 13 : 9781886938878
Total Pages : 292 pages
Book Rating : 4.9/5 (388 download)

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Book Synopsis The Currency Game by : Jeffry A. Frieden

Download or read book The Currency Game written by Jeffry A. Frieden and published by IDB. This book was released on 2001 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Written by a distinguished group of economists and political scientists from around the hemisphere, the essays in this book include analytical perspectives, a cross-national statistical study, and a series of detailed country studies ... [and bring an] important new theoretical insights and epmpirical evidence to that debate in order to best address a policy issue critical to the future of Latin American development"--Preface.

Monetary Stability in Latin America

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)

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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:

Dollarization in Latin America

Author : Miguel A. Savastano
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Dollarization in Latin America by : Miguel A. Savastano

Download or read book Dollarization in Latin America written by Miguel A. Savastano and published by International Monetary Fund. This book was released on 1996 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the pattern of dollarization in Latin America, focusing on the experience of five countries (Argentina, Bolivia, Mexico, Peru and Uruguay) during 1970-1993. It presents evidence on the relative size of dollarization, the allocation of foreign currency deposits, and the behavior of money velocity. The discussion stresses the role of institutional factors, macroeconomic conditions, and the dynamics of money demand In shaping the dollarization process; it also highlights the shortcomings of indicators frequently employed to analyze the phenomenon. The paper provides a brief critical assessment of the empirical literature on dollarization, and identifies areas where further research seems warranted.

An Evaluation of Monetary Regime Options for Latin America

Author : Andrew Berg
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 114 pages
Book Rating : 4.:/5 (318 download)

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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.

Currency Substitution in Latin America

Author : Pedro Gomis-Porqueras
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4./5 ( download)

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Book Synopsis Currency Substitution in Latin America by : Pedro Gomis-Porqueras

Download or read book Currency Substitution in Latin America written by Pedro Gomis-Porqueras and published by World Bank Publications. This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: What causes currency substitution (foreign money substituting for domestic money)? What significance has it had in recent banking crises? And what is the relationship between currency conversion and macroeconmic volatility in Latin America?

Currency Substitution in Latin America

Author : Pedro Gomis-Porqueras
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Currency Substitution in Latin America by : Pedro Gomis-Porqueras

Download or read book Currency Substitution in Latin America written by Pedro Gomis-Porqueras and published by . This book was released on 2000 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: What causes currency substitution (foreign money substituting for domestic money)? What significance has it had in recent banking crises? And what is the relationship between currency conversion and macroeconmic volatility in Latin America?

Managing Economic Volatility in Latin America

Author : Mr.R. Gelos
Publisher : International Monetary Fund
ISBN 13 : 1484364988
Total Pages : 202 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Managing Economic Volatility in Latin America by : Mr.R. Gelos

Download or read book Managing Economic Volatility in Latin America written by Mr.R. Gelos and published by International Monetary Fund. This book was released on 2014-03-27 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region has fared in recent years in an environment of uncertainty. It presents a collection of novel contributions on capital flows, terms of trade, and macroeconomic policy in Latin America. The rigorous expert analysis offers an up-to-date guide to many of the key economic policy questions in the region. Chapters focus on important analytical issues, including assessing reserves adequacy and current account levels. The roles of macroeconomic policies and exchange rates regimes in coping with large capital inflows are examined, as well as the effectiveness of both monetary policy and fiscal policy in dealing with economic challenges in the region.

Exchange Rate Policy, the Real Exchange Rate and Inflation

Author : Miguel Alberto Kiguel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4./5 ( download)

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Book Synopsis Exchange Rate Policy, the Real Exchange Rate and Inflation by : Miguel Alberto Kiguel

Download or read book Exchange Rate Policy, the Real Exchange Rate and Inflation written by Miguel Alberto Kiguel and published by World Bank Publications. This book was released on 1992 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Dollarization of Latin America

Author : Michael Melvin (Economist)
Publisher :
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The Dollarization of Latin America by : Michael Melvin (Economist)

Download or read book The Dollarization of Latin America written by Michael Melvin (Economist) and published by . This book was released on 1984 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Dollarization in Latin America

Author : Robert Rennhack
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (113 download)

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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.

The Sectoral Effects of Real Depreciations in Latin America

Author : Mr.Sergi Lanau
Publisher : International Monetary Fund
ISBN 13 : 1484329376
Total Pages : 20 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis The Sectoral Effects of Real Depreciations in Latin America by : Mr.Sergi Lanau

Download or read book The Sectoral Effects of Real Depreciations in Latin America written by Mr.Sergi Lanau and published by International Monetary Fund. This book was released on 2017-11-16 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This papers explores the effects of real exchange rate depreciations on growth across sectors, identifying export, cost, and import-penetration channels. It tests the existence and magnitude of these channels in a panel difference-in-difference methodology. Sectors that export more to begin with, grow relatively more in response to a depreciation. The same is true of sectors where import penetration in final demand is higher. There is no evidence that depreciations reduce growth by making imported inputs more expensive. A 10 percent real depreciation would increase growth of nontraditional sectors in Latin America by 0.6-2 percentage points mostly through the export channel.

The Political Economy of Exchange Rate Policies in Latin America and the Caribbean

Author :
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis The Political Economy of Exchange Rate Policies in Latin America and the Caribbean by :

Download or read book The Political Economy of Exchange Rate Policies in Latin America and the Caribbean written by and published by . This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Misalignment, Liabilities Dollarization and Exchange Rate Adjustment in Latin America

Author : Enrique Alberola
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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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 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exchange rates in Latin America display a large volatility, constitute a central element of the policy strategies and their evolution have an important impact on financial stability due to the dollarization of liabilities which most countries exhibit. However, assessments on equilibrium exchange rates are scarce in the region. This paper aims at both filling this gap and analysing the impact of the adjustment of the exchange rates to equilibrium on financial stability. Building on the methodology of Alberola et al (1999-2002), we show that the stock of net foreign assets and the evolution of productivity are the fundamentals underlying the behavior of the real exchange rate. Using an unobserved components methodology in a cointegration framework, a time varying equilibrium real exchange rate is derived, and deviations from this equilibrium provide an estimate of the degree of multilateral misalignment. The results uncover among other things the large overvaluation of the Argentinean peso in 2001, which was only partially explained by the estimated dollar overvaluation. The adjustment of exchange rates in 2002 corrected this and, to a lesser extent, other misalignments. The final part of the paper addresses the impact of liability dollarization on the adjustment of exchange rates. It is argued that the real exchange rate will tend to overshoot its equilibrium level, due to the need to foster higher current account surplus in the aftermath of depreciation to make up for to the increase in liabilities. An adjustment to account for this effect is performed on the previous results. This overshooting, when coupled with sudden stops of capitals, may help explaining the higher volatility of real exchange rates in the region.

Economic Development in Latin America

Author : H. Esfahani
Publisher : Springer
ISBN 13 : 0230297382
Total Pages : 323 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Economic Development in Latin America by : H. Esfahani

Download or read book Economic Development in Latin America written by H. Esfahani and published by Springer. This book was released on 2016-05-23 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses a diverse set of challenges facing Latin American economies. These range from the role of neo-liberal policies, deficit targeting, import substitution, role of institutions, trade and regional development and human capital and poverty.