Download or read book Monetary Interdependence Under Alternative Exchange rate Regimes written by Frederick van der Ploeg and published by . This book was released on 1989 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monetary Interdependence Under Alternative Exchange rate Regimes written by Alasdair Smith and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monetary Interdependence Under Alternative Exchange rate Regimes written by Frederick van der Ploeg and published by . This book was released on 1989 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Model of European Monetary Interdependence Under Alternative Exchange Rate Regimes written by Paul De Grauwe and published by . This book was released on 1976 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economic Stability Under Alternative Exchange Rate Regimes written by Yeongseop Rhee and published by . This book was released on 1991 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange Rates and Policy Coordination written by Peter B. Kenen and published by . This book was released on 1987 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange Rate Regimes in the Modern Era written by Michael W. Klein and published by MIT Press. This book was released on 2012-08-24 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the operation and consequences of exchange rate regimes in an era of increasing international interdependence. The exchange rate is sometimes called the most important price in a highly globalized world. A country's choice of its exchange rate regime, between government-managed fixed rates and market-determined floating rates has significant implications for monetary policy, trade, and macroeconomic outcomes, and is the subject of both academic and policy debate. In this book, two leading economists examine the operation and consequences of exchange rate regimes in an era of increasing international interdependence. Michael Klein and Jay Shambaugh focus on the evolution of exchange rate regimes in the modern era, the period since 1973, which followed the Bretton Woods era of 1945–72 and the pre-World War I gold standard era. Klein and Shambaugh offer a comprehensive, integrated treatment of the characteristics of exchange rate regimes and their effects. The book draws on and synthesizes data from the recent wave of empirical research on this topic, and includes new findings that challenge preconceived notions.

Download or read book Monetary Interdependence Under Alternative Ex c hange rate Regimes written by Frederick van der Ploeg and published by . This book was released on 1989 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Comparing the Performance of Alternative Exchange Arrangements written by Warwick J. McKibbin and published by . This book was released on 1986 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volatility of the world economy since the breakdown of the Bretton Woods par value system of exchange rates has led many policymakers and economists to call for reform of the international monetary system. Many critics of the current "non-system" call for tighter international rules of the game in macroeconomic policy making. The proposed systems cover a wide spectrum of measures including maintaining the current flexible exchange rate system but with increased consultations between the major economies; a "target zone " system as advocated by John Williamson; or a full return to a system of fixed exchange rates as advocated by Ronald McKinnon This paper presents and applies a methodology useful for studying the operating characteristics of a number of alternative monetary arrangements using a large-scale simulation model of the world economy. We consider the performance of the regimes when policymakers do or do not observe the shocks, and when policymakers infer the shocks using an optimal filtering rule. Although the results are model specific and at best illustrative of the issues involved, the approach does have the advantage of providing a richer framework of analysis than is possible in simple models of international interdependence.

Download or read book Monetary Policy Under Dual Exchange Rates written by Robert Cumby and published by . This book was released on 1984 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper finds that the introduction of dual exchange rates gives the monetary authority greater independence from external constraints than it would otherwise enjoy. The monetary authority is able to influence the level of aggregate demand in the short run and to sterilize the effects of temporary foreign distrubances. In addition, the paper finds that dual rates insulate the domestic economy fully from foreign interest rate changes but do not provide insulation from speculative disturbances.

Download or read book International Affairs written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO sponsored a symposium of specialists on exchange rate behavior. The seminar participants addressed the yen-dollar exchange rates and analyzed the implications of floating exchange rates and economic interdependence on the conduct of national macroeconomic policy and the future of the international financial system. GAO found that it is questionable whether some policy to manage exchange rates can mitigate or reverse the adverse economic effects of exchange rate behavior. One analyst noted that there are alternative definitions of exchange rate overvaluation and several plausible sources of overvaluation. The limits to research in exchange rate behavior partially explain the disagreement over exchange rate management policy, and forecasting long-range exchange rates has not been successful. Although the symposium participants agreed that floating exchange rates cannot insulate an open economy from external economic disturbances or contain domestic disturbances within a single economy, they agreed that flexible exchange rates are superior to fixed rates. Panelists also agreed that policies aimed at countering misaligned exchange rates will have limited success if national macroeconomic policies differ markedly. Furthermore, a policy that addresses only the exchange rate, without addressing monetary and fiscal policies, can have only limited success.

Download or read book International Policy Coordination Under Alternative Exchange Rate Regimes written by Nouriel Roubini and published by . This book was released on 1988 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monetary Interdependance Under Alternative Exchange Rate Regimes written by and published by . This book was released on 1989 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1983-01-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the channels of macroeconomic interdependence under flexible exchange rates. The model emphasizes the linkage of international capital markets, expectations, and nominal and real wage stickiness in affecting the impact of disturbances on employment, prices, and the exchange rate. The standard rational-expectations macroeconomic model is extended to facilitate analysis of the role of risk premiums created by imperfect asset substitutability. Peso problems and bubbles are discussed briefly. The paper discusses two alternative proposals designed to deal with the exchange rate implications of policy interdependence. One is the McKinnon proposal for world monetarism; the other is the band proposal. Both proposals are rejected because they fail to cope with the problems of the transition to a low, common inflation rate. The paper concludes with the suggestion that improved performance of the world economy cannot come from a better exchange rate system but rather from a more systematic use of incomes policies.

Download or read book Money and Monetary Policy in Interdependent Nations written by Ralph C. Bryant and published by Washington, D.C. : Brookings Institution. This book was released on 1980 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Alternative Dual Exchange Market Regimes written by José Saúl Lizondo and published by International Monetary Fund. This book was released on 1990-10 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper compares two alternative dual exchange market regimes. In one of them, the official market clears through changes in international reserves, while in the other regime, the central bank implements a rationing scheme so as to keep international reserves constant. The paper discusses the effects on the rate of inflation, the balance of payments, the real exchange rate, and the spread between the free and the official exchange rate, of various economic policies, including exchange rate policy, fiscal policy, and unification of the exchange markets. It concludes that the steady state effects for most of these policies are qualitatively the same under both regimes.

Download or read book Flexible Exchange Rates and Interdependence written by Rudiger Dornbusch and published by . This book was released on 1982 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper was prepared for the NBER-IMF conference on Exchange Rate Policy and Interdependence. It reviews the experience with flexible exchange rates and the main policy alternatives that have been suggested. The theoretical part develops a modern open economy macro model with an emphasis on capital mobility, real and nominal wage stickiness and expectations. The impact of disturbances is discussed in terms of the underlying structure, in particular, the relative role of real and nominal inflexibility. Among the main policy alternatives the paper reviews the McKinnon proposal for world monetarism, and the band proposal. Both of these schemes are found unsatisfactory in coping with the chief problem of the current systems namely how to cope with the transition to low inflation. The alternative of capital controls, likewise, would not avoid the adverse consequences of monetary stabilization it would only influence the particular details of the international transmission