The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies - 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 The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies write by Eduardo Borensztein. This book was released on 2000-02. The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies available in PDF, EPUB and Kindle. We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information content of various monetary aggregates in developing countries. We conclude that a high degree of currency substitution argues for a more fixed exchange rate regime, while asset substitution may imply that either more rigid or more flexible regimes may be appropriate. We also ask whether the most informative monetary aggregates include dollar assets. Based on an analysis of five countries, we conclude inter alia that broader aggregates that include dollar assets perform better than those that do not.
Financial Dollarization
Financial Dollarization - 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 Financial Dollarization write by A. Armas. This book was released on 2006-07-14. Financial Dollarization available in PDF, EPUB and Kindle. This volume provides a rigorous and balanced perspective on the causes and implications of dollarization, and the basic policies and options to deal with it: the adaptation of the monetary and prudential frameworks, the development of local-currency substitutes, and the scope for limiting dollarization through administrative restrictions.
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.
Exchange Rate Choices of Microstates
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 Imam. This book was released on 2010. 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.
