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Author : Mark P. Taylor
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book “The” Behavior of Real Exchange Rates During the Post-Bretton Woods Period written by Mark P. Taylor and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark P. Taylor
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (392 download)
Download or read book The Behaviour of Real Exchange Rates During the Post-Bretton Woods Period written by Mark P. Taylor and published by . This book was released on 1997 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yin-Wong Cheung
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (321 download)
Download or read book Parity Reversion in Real Exchange Rates During the Post-Bretton Woods Period written by Yin-Wong Cheung and published by . This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Hong Liang
Publisher : International Monetary Fund
ISBN 13 : 1451856709
Total Pages : 39 pages
Book Rating : 4.4/5 (518 download)
Download or read book Real Exchange Rate Volatility written by Ms.Hong Liang and published by International Monetary Fund. This book was released on 1998-10-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different econometric methods, over the period 1880-1997. It finds strong evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an important role in determining the persistence of shocks to the RER.
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Author : Yin-Wong Cheung
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (318 download)
Download or read book Parity Revision [i.e., Reversion] in Real Exchange Rates During the Post-Bretton Woods Period written by Yin-Wong Cheung and published by . This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Mussa
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)
Download or read book Exchange Rates in Theory and in Reality written by Michael Mussa and published by . This book was released on 1990 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : R.W. Jones
Publisher : North Holland
ISBN 13 :
Total Pages : 654 pages
Book Rating : 4.3/5 (91 download)
Download or read book Handbook of International Economics written by R.W. Jones and published by North Holland. This book was released on 1984 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: Textbook, research papers on international economic theory, economic policy and practice - includes a literature survey of theoretical studies in trade relations; covers evolution of economic models explaining the determinants of trade structure, capital flow, labour mobility, trade in natural resources, etc.; examines macroeconomics aspects of balance of payments, exchange rate, international monetary system, economic relations and dependence, etc. Bibliography, graphs, statistical tables.
Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066908
Total Pages : 692 pages
Book Rating : 4.2/5 (26 download)
Download or read book A Retrospective on the Bretton Woods System written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-12-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971. The contributors explore adjustment, liquidity, and transmission under the System; the way it affected developing countries; and the role of the International Monetary Fund in maintaining a stable rate. The authors examine the reasons for the System's success and eventual collapse, compare it to subsequent monetary regimes, such as the European Monetary System, and address the possibility of a new fixed exchange rate for today's world.
Author : Mr.Kenneth Rogoff
Publisher : International Monetary Fund
ISBN 13 : 1451875843
Total Pages : 85 pages
Book Rating : 4.4/5 (518 download)
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.
Author : Mr.Ronald MacDonald
Publisher : International Monetary Fund
ISBN 13 : 1451921675
Total Pages : 54 pages
Book Rating : 4.4/5 (519 download)
Download or read book What Determines Real Exchange Rates? The Long and Short of it written by Mr.Ronald MacDonald and published by International Monetary Fund. This book was released on 1997-02-01 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a reduced-form model of the real exchange rate. Using multilateral cointegration methods, the model is implemented for the real effective exchange rates of the dollar, the mark, and the yen, over the period 1974-1993. In contrast to much other research using real exchange rates, there is evidence of significant and sensible long-run relationships for a simplified version as well as for the full version of the model. The estimated long-run relationships are used to produce dynamic equations, which outperform a random walk and produce sensible dynamic patterns in the context of an impulse response analysis.
Author : John Williamson
Publisher : Peterson Institute
ISBN 13 : 9780881320763
Total Pages : 608 pages
Book Rating : 4.3/5 (27 download)
Download or read book Estimating Equilibrium Exchange Rates written by John Williamson and published by Peterson Institute. This book was released on 1994 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problems of exchange rate misalignments and the resulting payments imbalances have plagued the world economy for decades. At the Louvre Accord of 1987, the Group of Five industrial countries adopted a system of reference ranges for exchange rate management, influenced by proposals of C. Fred Bergstan and John Williamson for a target zone system. The reference range approach has, however, been operated only intermittently and half-heartedly, and questions continue to be raised in policy and scholarly circles about the design and operation of a full-fledged target zone regime. This volume, with chapters by leading international economists, explores one crucial issue in the design of a target zone system: the problem of calculating Williamson's concept of the fundamental equilibrium exchange rate (FEER). Williamson contributes an overview of the policy and analytic issues and a second chapter on his own calculations.
Author : Mr. Haroon Mumtaz
Publisher : International Monetary Fund
ISBN 13 : 1451895534
Total Pages : 43 pages
Book Rating : 4.4/5 (518 download)
Download or read book PPP Strikes Back written by Mr. Haroon Mumtaz and published by International Monetary Fund. This book was released on 2003-04-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When heterogeneity is properly taken into account, estimates of the real exchange rate half-life fall dramatically, to little more than one year, or significantly below Rogoff''s "consensus view" of three to five years. We show that corrected estimates are consistent with plausible nominal rigidities, thus, arguably, solving the PPP puzzle.
Author : Guillermo Calvo
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (318 download)
Download or read book Targeting the Real Exchange Rate written by Guillermo Calvo and published by International Monetary Fund. This book was released on 1994-02 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a theoretical and empirical analysis of policies aimed at setting a more depreciated level of the real exchange rate. An intertemporal optimizing model suggests that, in the absence of changes in fiscal policy, a more depreciated level of the real exchange can only be attained temporarily. This can be achieved by means of higher inflation and/or higher real interest rates, depending on the degree of capital mobility. Evidence for Brazil, Chile, and Colombia supports the model’s prediction that undervalued real exchange rates are associated with higher inflation.
Author : Vittorio Grilli
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 ( download)
Download or read book Nominal Exchange Rate Regimes and the Real Exchange Rate written by Vittorio Grilli and published by . This book was released on 1989 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Allan H. Meltzer
Publisher :
ISBN 13 :
Total Pages : 320 pages
Book Rating : 4.F/5 ( download)
Download or read book Real Business Cycles, Real Exchange Rates and Actual Policies written by Allan H. Meltzer and published by . This book was released on 1986 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lucio Sarno
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.X/5 (6 download)
Download or read book Purchasing Power Parity and the Real Exchange Rate written by Lucio Sarno and published by . This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : U. Michael Bergman
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Real Exchange Rates and Switching Regimes written by U. Michael Bergman and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We suggest that the real exchange rate between the major currencies in the post-Bretton Woods period can be described by a stationary, two state Markov switching AR(1) model. Based on the forecast performance, both in-sample and out-of-sample, we find that this model out-performs two competing models where the real exchange rate is non-stationary. We also find that the existence of different regimes, as in the Markov switching model, is consistent with the common finding of unit roots in the real exchange rate.
