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Author : E. W. M. T. Westerhout
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book The Welfare Effects from Stabilizing European Exchange Rates written by E. W. M. T. Westerhout and published by . This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeffry A. Frieden
Publisher : Princeton University Press
ISBN 13 : 1400865344
Total Pages : 318 pages
Book Rating : 4.4/5 (8 download)
Download or read book Currency Politics written by Jeffry A. Frieden and published by Princeton University Press. This book was released on 2014-12-28 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Author : Michael B. Devereux
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (318 download)
Download or read book Exchange Rate Pass-through and the Welfare Effects of the Euro written by Michael B. Devereux and published by . This book was released on 1999 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the implications of the European single currency within a simple sticky price intertemporal model. The main issue we focus on is how the euro may alter the responsiveness of consumer prices to exchange rate changes. Our central conjectures is that the acceptance of the euro will lead European prices to become more insulated from exchange-rate volatility, much the way U.S. consumer prices already are. We show that this has profound consequences for both the volatility and levels of macroeconomic aggregates in both the U.S. and Europe. We find that European welfare is enhanced, and, more surprisingly U.S. shares in Europe's good fortune. Alternative assumptions about how pricing behavior will change lead to different conclusions, but in all cases we can derive specific implications for expected levels and volatility of macroeconomic varialbes.
Author : Mr.Ruy Lama
Publisher : International Monetary Fund
ISBN 13 : 1455202169
Total Pages : 45 pages
Book Rating : 4.4/5 (552 download)
Download or read book Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease? written by Mr.Ruy Lama and published by International Monetary Fund. This book was released on 2010-08-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates how successful is a policy of exchange rate stabilization to counteract the negative effects of a Dutch Disease episode. We consider a small open economy model that incorporates nominal rigidities and a learning-by-doing externality in the tradable sector. The paper shows that leaning against an appreciated exchange rate can prevent an inefficient loss of tradable output but at the cost of generating a misallocation of resources in other sectors of the economy. The paper also finds that welfare is a decreasing function of exchange rate intervention. These results suggest that stabilizing the nominal exchange rate in response to a Dutch Disease episode is highly distortionary.
Author : Ben S. Bernanke
Publisher : MIT Press
ISBN 13 : 9780262522052
Total Pages : 364 pages
Book Rating : 4.5/5 (22 download)
Download or read book NBER Macroeconomics Annual 1995 written by Ben S. Bernanke and published by MIT Press. This book was released on 1996 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents : Wage Inequality and Regional Unemployment Persistence: U.S. vs. Europe, Guiseppe BErtola and Andreas Ichino. Capital Utilization and Returns to Scale, Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. Banks and Derivatives, Gary Gorton and Richard Rosen. Exchange-Rate-Based Stabilizations: Theory and Evidence, Sergio Rebelo and Carlos Vegh. Inflation Indicators and Inflation Policy, Stephen Cecchetti. Recent Central Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy, Carl Walsh. Is Central Bank Independence (and Low Inflation) the Result of Effective Financial Opposition to Inflation?, Adam Posen. The Unending Quest for Monetary Salvation, Stanley Fischer.
Author : Mr.Mark P. Taylor
Publisher : International Monetary Fund
ISBN 13 : 1451848854
Total Pages : 30 pages
Book Rating : 4.4/5 (518 download)
Download or read book The Stabilizing Effect of the ERMon Exchange Rates and Interest Rates written by Mr.Mark P. Taylor and published by International Monetary Fund. This book was released on 1993-08-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper applies nonparametric test procedures to test for a shift in the volatility of nominal and real exchange rates for ERM members and nonmembers. The results imply a reduction in volatility for the ERM members, especially during the second half of the period of operation of the ERM. We also demonstrate that this enhanced stability was not bought at the expense of increased interest rate volatility. The issue of interest rate volatility during sterling’s participation in the ERM is also examined.
Author : Michael Emerson
Publisher :
ISBN 13 : 9780198773245
Total Pages : 356 pages
Book Rating : 4.7/5 (732 download)
Download or read book One Market, One Money written by Michael Emerson and published by . This book was released on 1992 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
Author :
Publisher :
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.:/5 (334 download)
Download or read book CPB Report written by and published by . This book was released on 1996 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Romain Lafarguette
Publisher : International Monetary Fund
ISBN 13 : 1513569406
Total Pages : 33 pages
Book Rating : 4.5/5 (135 download)
Download or read book Foreign Exchange Intervention Rules for Central Banks: A Risk-based Framework written by Romain Lafarguette and published by International Monetary Fund. This book was released on 2021-02-12 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.
Author : Europäisches Institut für Internationale Wirtschaftsbeziehungen
Publisher : Springer Science & Business Media
ISBN 13 : 9783540633051
Total Pages : 488 pages
Book Rating : 4.6/5 (33 download)
Download or read book European Monetary Union written by Europäisches Institut für Internationale Wirtschaftsbeziehungen and published by Springer Science & Business Media. This book was released on 1997 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU is heading towards a monetary union which has both benefits and risks for the Community but will also affect countries outside of Europe. Crucial transition problems, economic adjustment in financial markets and labor markets as well as theoretical and empirical issues of monetary integration are analyzed. The book also focuses on interest rate effects, the role of volatility of money supply growth and exchange rate instability. Issues of monetary and fiscal policy and the political economy of monetary integration are evaluated.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498330282
Total Pages : 132 pages
Book Rating : 4.4/5 (983 download)
Download or read book Exchange Rate Volatility and Trade Flows--Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Author : Ralph George Hawtrey
Publisher : New York : [s.n.]
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.:/5 (3 download)
Download or read book Monetary Reconstruction written by Ralph George Hawtrey and published by New York : [s.n.]. This book was released on 1926 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Valentijn van Nieuwenhuijzen
Publisher :
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.3/5 ( download)
Download or read book Collapsing Controlled Exchange Rates written by Valentijn van Nieuwenhuijzen and published by . This book was released on 1999 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul J.J. Welfens
Publisher : Springer Science & Business Media
ISBN 13 : 3642569137
Total Pages : 184 pages
Book Rating : 4.6/5 (425 download)
Download or read book European Monetary Union and Exchange Rate Dynamics written by Paul J.J. Welfens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation of the European Central Bank and the Euro have brought new challenges to EU integration and economic policy. This book looks into issues of monetary and factor market policies. The analysis presents new theoretical and empirical research on the current decline of the Euro. Issues regarding exchange rate policies and international economic relations are also addressed.
Author : Raja M. Almarzoqi
Publisher : Routledge
ISBN 13 : 1351589490
Total Pages : 235 pages
Book Rating : 4.3/5 (515 download)
Download or read book Islamic Macroeconomics written by Raja M. Almarzoqi and published by Routledge. This book was released on 2018-03-22 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic Macroeconomics proposes an Islamic model that offers significant prospects for economic growth and durable macroeconomic stability, and which is immune to the defects of the economic models prevailing both in developed and developing countries. An Islamic model advocates a limited government confined to its natural duties of defence, justice, education, health, infrastructure, regulation, and welfare of the vulnerable population. It prohibits interest-based debt and money, and requires full liberalization of all markets including labor, financial, commodity, trade, and foreign exchange markets. The government should be Sharia-compliant in its taxation power and regulatory intervention; it ought to reduce unproductive spending in favor of productive spending. This book is essential reading for students and academics of Islamic economics and finance, economists, practitioners, and researchers.
Author : Valeria De Bonis
Publisher : Springer Science & Business Media
ISBN 13 : 3642515266
Total Pages : 181 pages
Book Rating : 4.6/5 (425 download)
Download or read book Stabilization Policy in an Exchange Rate Union written by Valeria De Bonis and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: The treaty of Maastricht envisages the full economic and monetary union in Europe. With increasing real and monetary integration policy decisions in individual member countries tend to have a growing impact on the other member countries of the European Community. Against this background the following study analyses within a unified theoretical framework the impact of monetary and fiscal policy pursued by one country on its own macroeconomic performance as well as on those of the other member countries and of the rest of the world. The analysis contrasts the cases of a small and a large European union relative to the rest of the world and distinguishes very clearly between the short-run, the medium-run and the long-run effects. Based on this the consequences for union cohesion and the scope for policy coordination are discussed. Since the analytical framework is defined by a three country model many results from the traditional policy coordination literature which relies on two country models are qualified. In contrasts to most previous research in this area particular attention is paid to the implications of asymmetries between the EC member countries. Furthermore, the structural parameters are in some instances not taken as given but as responsive to the integration process. In this context numerous links to the traditional literature on optimal currency areas are established and interesting implications for union cohesion during the transition are derived.
Author : Willem H. Buiter
Publisher : University of Michigan Press
ISBN 13 : 9780472101382
Total Pages : 392 pages
Book Rating : 4.1/5 (13 download)
Download or read book Macroeconomic Theory and Stabilization Policy written by Willem H. Buiter and published by University of Michigan Press. This book was released on 1989 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together Buiter's major papers on macroeconomic theory and policy
