Download or read book Exchange Rates Capital Flows and Monetary Policy in a Changing World Economy written by William C. Gruben and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.
Download or read book Capital Controls Exchange Rates and Monetary Policy in the World Economy written by Sebastian Edwards and published by Cambridge University Press. This book was released on 1997-06-13 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays collected in this volume discuss the impact of increased capital mobility on macroeconomic performance.
Download or read book Exchange Rates Capital Flows and Policy written by Rebecca Driver and published by Routledge. This book was released on 2013-04-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining thorough scholarship with illuminating real-world examples, this edited collection provides insights on the causes and consequences of movements in both exchange rates and external assets and has a strong focus on the policy implications of operating in an open economy, particularly the choice of exchange rate and monetary policy, exchange rate intervention and policies on capital mobility.
Download or read book Monetary Policy Capital Flows and Exchange Rates written by David G. Dickinson and published by Psychology Press. This book was released on 2002 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Max Fry was known internationally for his research on international and domestic financial issues. This book draws together contributions from a range of academic and policy-making friends and colleagues.
Download or read book Monetary Policy for a Volatile Global Economy written by William S. Haraf and published by American Enterprise Institute. This book was released on 1990 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on the crucial relationships between domestic and international economic developments and on their implications for monetary, fiscal, and exchange rate policies. The volume includes Richard N.Cooper on challenges to the international monetary system, Hali Edison and Michael Melvin on the choice of an exchange rate system, Gottfried Haberler on international and European monetary systems, Alan C.Stockman on exchange rates and the current account, Guido Tabellini on export of an inflation tax; and Thomas D.Willett and Clas Wihlborg on international capital flows and the dollar. It is a companion volume to Monetary Policy for a Changing Financial Environment.
Download or read book Managing Capital Flows and Exchange Rates written by Reuven Glick and published by Cambridge University Press. This book was released on 1998-06-13 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a very timely book that brings the reader to the forefront of current research on macroeconomic policy issues in economies subject to sizable capital flows".--Guillermo A. Calvo, University of Maryland.
Download or read book Balance of Payments Exchange Rates and Competitiveness in Transition Economies written by Mario I. Blejer and published by Springer Science & Business Media. This book was released on 2007-08-23 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: Integrating transition economies into the global commercial and trade market system is a prolonged and risky process. This book is a collection of studies dealing with the different issues related to the liberalization of external relations in economies moving from a socialist to a market-based system The focus is on external sector developments, and the topics deal with balance of payments conditions, exchange rate policies and regimes, international competitiveness, international capital flows, trade, and other matters related to the integration of transition economies into the world economy. An understanding of the principles involved and of the experiences of both transition and advanced economies during this process is crucial to ensure its ultimate success. Written by internationally recognized scholars, the chapters cover these issues in a systematic manner. The first section treats current account developments, capital flows, and exchange rate policies in transition countries, the second section deals with specific issues related to international trade, and the final section consists of six specific country experiences. In this final section, a chapter dealing with the Russian Federation discusses the collapse of the ruble in August 1998.
Download or read book Macroeconomic Linkage written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2009-02-15 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores East Asia's macroeconomic experience in the 1980s and the economic impact of East Asia's growth on the rest of the world. The authors explore the causes of capital flows, changes in trade balances, and exchange rate fluctuations in East Asia and their effects on other countries. These fourteen papers are organized around four themes: the overall determinants of growth and trading relations in the East Asian region; monetary policies in relation to capital controls and capital accounts; the impact of exchange rate behavior on industrial structure; and the potential for greater regional integration. The contributors examine interactions among exchange rate movements, trade balances, and capital flows; how government monetary policy affects capital flows; the effect of exchange rates on industrial structure, inventories, and prices; and the extent of regional integration in East Asia.
Download or read book Dollars Deficits Trade written by James A. Dorn and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume are timelyand provocative. They address the key issues of the changing world economy and consider the implications ofthe erosion ofthe rule oflaw that has occurred both domestically and internationally to an increasing degree over the past halfcentury. The debates over the role of the dollar in the international econ omy, the future shape ofthe international monetary system and the exchange rate regime, the significance ofthe U.S. twin deficits, and the rise of nontariffbarriers to world trade deserve serious attention. Atthe bottom ofthese debates lie differing conceptions ofeconomic policy and the role of government in a free society. Adam Smith's vision ofa limited democracy operating to protect persons and prop erty has been increasinglyreplaced by a vision ofapaternalistic state that is designed to protect special interests at the expense of the larger society. Many of the contributors to this volume point to the lack oflong-run rules designed to promote sound money, fiscal integ rity, and open markets asthe fundamental flawofmodern democratic governments. Although the authors disagree on the specific rules to adopt, the consensus is that a constitutional perspective is needed to ensure astable worldorder. Moreover, since such aperspective must bedeveloped at home before it can spread among nations, the search for optimal international policy coordination is generally seen as misguided. Many ofthe essays in this volume were initially presented at the Cato Institute's Sixth Annual Monetary Conference held in Wash ington, D.C., February 25-26, 1988.
Download or read book Capital Inflows Exchange Rate Flexibility and Credit Booms written by Mr.Nicolas E. Magud and published by International Monetary Fund. This book was released on 2012-02-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The prospects of expansionary monetary policies in the advanced countries for the foreseeable future have renewed the debate over policy options to cope with large capital inflows that are, at least partly, driven by low interest rates in the financial centers. Historically, capital flow bonanzas have often fueled sharp credit expansions in advanced and emerging market economies alike. Focusing primarily on emerging markets, we analyze the impact of exchange rate flexibility on credit markets during periods of large capital inflows. We show that bank credit grows more rapidly and its composition tilts to foreign currency in economies with less flexible exchange rate regimes, and that these results are not explained entirely by the fact that the latter attract more capital inflows than economies with more flexible regimes. Our findings thus suggest countries with less flexible exchange rate regimes may stand to benefit the most from regulatory policies that reduce banks' incentives to tap external markets and to lend/borrow in foreign currency; these policies include marginal reserve requirements on foreign lending, currency-dependent liquidity requirements, and higher capital requirement and/or dynamic provisioning on foreign exchange loans.
Download or read book Studies In East Asian Economies Capital Flows Exchange Rates And Monetary Policy written by Jagdish Handa and published by World Scientific. This book was released on 2011-07-29 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book includes three economic/econometric studies on four East Asian countries (Indonesia, Malaysia, Philippines and Thailand) and two studies on China. The four East Asian economies, designated at one time as ‘economic tigers’, provide important and interesting case studies on periods of very rapid growth with heavy capital inflows, followed by financial and economic crises. The three studies on these countries examine the impact of heavy capital inflows on growth, real exchange rates and the conduct of domestic monetary policy during the period 1970-96, which immediately preceded their financial crises of 1997-98. At a more general level, they shed light on the contributions that capital inflows make to small open economies and how these inflows impact on their exchange rates and monetary policies.The two studies on China examine the adequacy of capital flows to it and its monetary policies. In recent years, while China has been among the biggest recipients of capital inflows, our study on it finds that these inflows are still considerably short of the amounts that perfect capital flows would imply. Regarding China's pursuit of monetary policy, our study is the first one to question whether interest rates or monetary aggregates are appropriate instruments for the control of the economy. Our finding is that its large informal sector and black money holdings make the use of monetary aggregates the more appropriate policy instrument. This finding contrasts with the usual one for financially developed economies that interest rate targeting and a Taylor rule provide the applicable monetary policy framework.
Download or read book International Capital Flow Pressures written by Ms.Linda S. Goldberg and published by International Monetary Fund. This book was released on 2018-02-16 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new measure of capital flow pressures in the form of a recast Exchange Market Pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international asset portfolio considerations. Based on the modified exchange market pressure index, the paper also proposes the Global Risk Response Index, which reflects the country-specific sensitivity of capital flow pressures to measures of global risk aversion. For a large sample of countries over time, we demonstrate time variation in the effects of global risk on exchange market pressures, the evolving importance of the global factor across types of countries, and the changing risk-on or risk-off status of currencies.
Download or read book Capital Movements and Their Control written by Alexander K. Swoboda and published by BRILL. This book was released on 1976 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: At head of title: Institut universitaire de hautes eÌ tudes internationales. Includes bibliographies and index.
Download or read book Europe and the Dollar in the World wide Disequilibrium written by John Richard Sargent and published by BRILL. This book was released on 1981-03-25 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strengthening the International Monetary System written by Mr.Morris Goldstein and published by International Monetary Fund. This book was released on 1987-02-26 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report comprises three papers written by staff members of the Fund's Research Department on issues arising out of the reports on the international monetary system prepared in 1985 by the Group of Ten (representing the industrial countries participating in the General Arrangements to Borrow) and the intergovernmental Group of Twenty-Four on International Monetary Affairs. These two reports, which appear as appendices to this volume, were transmitted to the Interim Committee of the Fund's Board of Governors and were subsequently discussed by the Fund's Executive Board in early 1986.
Download or read book Facing the Tides written by Mr.Harald Finger and published by International Monetary Fund. This book was released on 2019-10-22 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper looks empirically at some economic effects of volatile exchange rates and financial conditions and examines policy responses for managing such volatility. It also sheds light on some economic costs that stem from volatile capital flows and exchange rates and analyzes how countries deploy their policy toolkits in response. The data-driven analysis should contribute to ongoing reflections about how to manage volatile capital flows and exchange rates both in Asian EMEs and more broadly.
Download or read book Moving to a Flexible Exchange Rate written by Mrs.Gilda Fernandez and published by International Monetary Fund. This book was released on 2006-01-09 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary independence. Other countries have made the transition under disorderly conditions, with the sharp depreciation of their currency during a crisis. Regardless of the reason for adopting a flexible exchange rate, a successful transition depends on the effective management of a number of institutional and operational issues. The authors of this Economic Issue describe the necessary ingredients for moving to a flexible regime, as well as the optimal pace and sequencing under different conditions.
