Exchange Rate Choices of Microstates - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Exchange Rate Choices of Microstates write by Patrick A. Imam. This book was released on 2010-01-01. Exchange Rate Choices of Microstates available in PDF, EPUB and Kindle. In this paper we first explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks microstates face, their ability to better accommodate local preferences combined with a more integrated world economy probably explains why the benefits of independence have risen. We explain why microstates at independence have chosen either dollarization, currency board arrangements, or fixed exchange rates rather than more flexible forms of exchange rate systems. We then, using the Geweke-Hajvassiliou-Keane multivariate normal simulator, model empirically the determinants of each of the different fixed exchange rate regimes in microstates and analyze the policy implications.
Exchange Rate Regimes
Exchange Rate Regimes - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Exchange Rate Regimes write by Atish R. Ghosh. This book was released on 2002. Exchange Rate Regimes available in PDF, EPUB and Kindle. An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early 1970s, countries have adopted a wide variety of regimes, ranging from pure floats at one extreme to currency boards and dollarization at the other. While a vast theoretical literature explores the choice and consequences of exchange rate regimes, the abundance of possible effects makes it difficult to establish clear relationships between regimes and common macroeconomic policy targets such as inflation and growth. This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the experience of some 150 member countries of the International Monetary Fund over the past thirty years. Among other questions, it asks whether pegging the exchange rate leads to lower inflation, whether floating exchange rates are associated with faster output growth, and whether pegged regimes are particularly prone to currency and other crises. The book draws on history and theory to delineate the debate and on standard statistical methods to assess the empirical evidence, and includes a CD-ROM containing the data set used.
Exchange Rate Regime Choice
Exchange Rate Regime Choice - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Exchange Rate Regime Choice write by Mr.Robert P. Flood. This book was released on 1991-09-01. Exchange Rate Regime Choice available in PDF, EPUB and Kindle. Traditionally the choice of exchange rate regime has been seen as a second-best policy choice, which can be directed toward mitigating the distortionary effects of price or information rigidities. In this paradigm the optimal degree of exchange rate flexibility is found to depend of the source and nature of shocks hitting an economy. More recent literature views the exchange rate as a widely and frequently seen manifestation of government policy with careful exchange-rate management emerging as a tool that can enhance shaky policy credibility.
Too Sensational
Too Sensational - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Too Sensational write by W. Max Corden. This book was released on 2004-08-20. Too Sensational available in PDF, EPUB and Kindle. Most of the literature on exchange rate regimes has focused on the developed countries. Since the recent crises in emerging markets, however, attention has shifted to the choice of exchange rate regimes for developing countries, especially those that are more integrated into the world capital markets. In Too Sensational, W. Max Corden presents a systematic and accessible overview of the choice of exchange rate regimes. Reviewing many types of regimes, he shows how the choice of an exchange rate regime is related to both fiscal policy and trade policy. Building on the theory of optimum currency areas, Corden develops an analytic framework of three approaches (nominal anchor, real targets, and exchange rate stability) and three polar exchange rate regimes (absolutely fixed, pure floating, and fixed but adjustable). He considers all other regimes to be mixtures of two or three of the polar regimes. Beginning with theory and later turning to case studies of countries in Asia, Europe, and Latin America, Corden focuses on how economies react to negative and positive shocks under various exchange rate regimes. He examines in particular the Asian and Latin American currency crises of the 1990s. He concludes that although "too sensational" crises have discredited fixed but adjustable regimes, the extremes of absolutely fixed regimes or pure floating regimes need not be chosen.
Exchange Rate Regime Choice in Historical Perspective
Exchange Rate Regime Choice in Historical Perspective - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Exchange Rate Regime Choice in Historical Perspective write by Michael D. Bordo. This book was released on 2003-08-01. Exchange Rate Regime Choice in Historical Perspective available in PDF, EPUB and Kindle. In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today's emerging economies.
