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Realignment Expectations Forward Rate Bias And Sterilized Intervention In An Adjustable Peg Exchange Rate Model With Policy Optimization
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Book Synopsis Realignment Expectations, Forward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization by : Mr.Peter Isard
Download or read book Realignment Expectations, Forward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization written by Mr.Peter Isard and published by International Monetary Fund. This book was released on 1994-02-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper models an adjustable peg exchange rate arrangement as a policy rule with an escape clause under which the timing and magnitudes of realignments are the outcomes of policy optimization decisions. Under the assumptions that market participants are rational, risk averse, and fully informed about the incentives of policymakers, the analysis focuses on the implications for relating realignment expectations to the state variables that enter the policy objective function, for modeling the bias in using forward exchange rates to predict future spot rates, and for characterizing the effectiveness of sterilized intervention.
Book Synopsis Realignment Expectations, Forward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization by : Peter Isard
Download or read book Realignment Expectations, Forward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization written by Peter Isard and published by . This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper models an adjustable peg exchange rate arrangement as a policy rule with an escape clause under which the timing and magnitudes of realignments are the outcomes of policy optimization decisions. Under the assumptions that market participants are rational, risk averse, and fully informed about the incentives of policymakers, the analysis focuses on the implications for relating realignment expectations to the state variables that enter the policy objective function, for modeling the bias in using forward exchange rates to predict future spot rates, and for characterizing the effectiveness of sterilized intervention.
Book Synopsis Realignment expectations, former rate bias, and sterilized intervention in an adjustable peg exchange rate model with policy optimization by :
Download or read book Realignment expectations, former rate bias, and sterilized intervention in an adjustable peg exchange rate model with policy optimization written by and published by . This book was released on 1994 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Realignment Expectations, Foward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization by : Peter Isard
Download or read book Realignment Expectations, Foward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization written by Peter Isard and published by . This book was released on 1994 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Working Paper Summaries (WP/94/1 - WP/94/76) by : International Monetary Fund
Download or read book Working Paper Summaries (WP/94/1 - WP/94/76) written by International Monetary Fund and published by International Monetary Fund. This book was released on 1994-08-01 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451957068 Total Pages :244 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1995-01-01 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the last twenty years rather than sooner? We begin by discussing the “tax smoothing” model and conclude that this approach alone cannot provide complete answers to these questions. We then proceed to a discussion of political economy models, which we organize into six groups: (1) models based upon opportunistic policy makers and naive voters with “fiscal illusion”; (2) models of intergenerational redistributions; (3) models of debt as a strategic variable, linking the current government with the next one; (4) models of coalition governments; (5) models of geographically dispersed interests; and (6) models emphasizing the effects of budgetary institutions. We conclude by briefly discussing policy implications.
Book Synopsis Modern Perspectives on the Gold Standard by : Tamim Bayoumi
Download or read book Modern Perspectives on the Gold Standard written by Tamim Bayoumi and published by Cambridge University Press. This book was released on 1996 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency crises in Europe and Mexico during the 1990s provided stark reminders of the importance and the fragility of international financial markets. These experiences led some commentators to conclude that open international capital markets are incompatible with financial stability. But the pre-1914 gold standard is an obvious challenge to the notion that open capital markets are sources of instability. To deepen our understanding of how this system worked, this volume draws together recent research on the gold standard. Theoretical models are used to guide qualitative discussions of historical experience, while econometric methods are used to help the historical data speak clearly. The result is an overview of the gold standard, a survey of the relevant applied research in international macroeconomics, and a demonstration of how the past can help to inform the present.
Download or read book IMF Working Paper written by and published by . This book was released on 1994 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Working Paper Summaries, January-June 1994 by :
Download or read book Working Paper Summaries, January-June 1994 written by and published by . This book was released on 1994 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rates and Economic Fundamentals by : Mr.Tamim Bayoumi
Download or read book Exchange Rates and Economic Fundamentals written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1994-09-15 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the methods and types of indicators that are often employed, both insid and outside the IMF, to assess whether exchange rates are broadly in line with economic fundamentals.
Book Synopsis Publications Catalog by : International Monetary Fund
Download or read book Publications Catalog written by International Monetary Fund and published by . This book was released on 1998 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bibliographie der Wirtschaftswissenschaften by :
Download or read book Bibliographie der Wirtschaftswissenschaften written by and published by . This book was released on 1994 with total page 982 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Economics by : Ronald MacDonald
Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Book Synopsis Uncovered Interest Parity by : Mr.Peter Isard
Download or read book Uncovered Interest Parity written by Mr.Peter Isard and published by International Monetary Fund. This book was released on 1991-05 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides an overview of the uncovered interest parity assumption. It traces the history of the interest parity concept, summarizes evidence on the empirical validity of uncovered interest parity, and discusses the implications for macroeconomic analysis. The uncovered interest parity assumption has been an important building block in multiperiod and continuous time models of open economies, and although its validity is strongly challenged by the empirical evidence, its retention in macroeconomic models is supported on pragmatic grounds, at least for the time being, by the lack of much empirical support for existing models of the exchange risk premium.
Book Synopsis Exchange Rate Expectations by : International Monetary Fund
Download or read book Exchange Rate Expectations written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-06-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a brief survey of the empirical literature on survey-based exchange rate expectations. The literature in general supports the presence of a non-zero risk premium and rejects the hypothesis of rational expectations. The crucial result is that, while short-run expectations tend to move away from some long-run “normal” values, long-run expectations tend to regress toward them. If this nature of short-run expectations increases the volatility of exchange rate movements, there may be a basis for some official measure to minimize short-run exchange rate movements.
Author :Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico Publisher : ISBN 13 :9789291319626 Total Pages :0 pages Book Rating :4.3/5 (196 download)
Book Synopsis Market Volatility and Foreign Exchange Intervention in EMEs by : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico
Download or read book Market Volatility and Foreign Exchange Intervention in EMEs written by Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
