Currency Bands Target Zones And Cash Limits
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Currency Bands Target Zones And Cash Limits
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Author : Mr.Marcus Miller
language : en
Publisher: International Monetary Fund
Release Date : 1990-02-01
Currency Bands Target Zones And Cash Limits written by Mr.Marcus Miller and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-02-01 with Business & Economics categories.
Exchange rate behavior is analyzed in the context of a stochastic rational expectations model in which there are random shocks to the price setting mechanism and in which the authorities choose to impose either nominal or real exchange rate bands. Results are compared to those which emerge from a simple monetary model subject to velocity shocks. The effects of a realignment of the Band, and of fiscal policy used in conjunction with monetary policy to defend the band, are also examined.
Currency Bands Target Zones And Cash Limits
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Author : Alex Cukierman
language : en
Publisher:
Release Date : 1990
Currency Bands Target Zones And Cash Limits written by Alex Cukierman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with International economic integration categories.
Rational Speculative Bubbles In An Exchange Rate Target Zone
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Author : Willem H. Buiter
language : en
Publisher:
Release Date : 1990
Rational Speculative Bubbles In An Exchange Rate Target Zone written by Willem H. Buiter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Commerce categories.
The recent theory of exchange rate dynamics within a target zone holds that exchange rates under a currency bard are less responsive to fundamental shocks than exchange rates under a free float, provided that the intervention rules of the Central Bank(s) are common knowledge. These results are derived after having assumed a priori that excess volatility due to rational bubbles does not occur in the foreign exchange market. In this paper we consider instead a setup in which the existence of speculative behavior is a datum the Central Bank has to deal with. We show that the defense of the target zone in the presence of bubbles is viable if the Central Bank accommodates speculative attacks when the latter are consistent with the survival of the target zone itself and expectations are self-fulfilling. These results hold for a large class of exogenous and fundamental-dependent bubble processes. We show that the instantaneous volatility of exchange rates within a bard is not necessarily less than the volatility under free float and analyze the implications for interest rate differential dynamics.
Exchange Rate Targets And Currency Bands
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Author : Paul Krugman
language : en
Publisher: Cambridge University Press
Release Date : 1992-10-22
Exchange Rate Targets And Currency Bands written by Paul Krugman and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-10-22 with Business & Economics categories.
This volume examines the intersection between a new analytical approach and a real economic problem.
Exchange Rate Bands With Price Inertia
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Author : Marcus Miller
language : en
Publisher:
Release Date : 1990
Exchange Rate Bands With Price Inertia written by Marcus Miller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Economics categories.
Target Zones And Interest Rate Variability
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Author : Mr.Lars E. O. Svensson
language : en
Publisher: International Monetary Fund
Release Date : 1990-04-01
Target Zones And Interest Rate Variability written by Mr.Lars E. O. Svensson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-04-01 with Business & Economics categories.
The trade-off between interest rate variability and the width of an exchange rate target zone is examined, using the regulated Brownian motion model of target zones. The interest rate differential’s asymptotic (unconditional) variability is increasing in the exchange rate band for narrow bands; whereas it is slowly decreasing for wide bands. The interest rate differential’s instantaneous (conditional) variability is decreasing in the exchange rate band. The model is extended to include a realignment/devaluation risk, as well as an endogenous exchange rate risk premium. The risk premium is small for reasonable parameter values.
Global Economics In Extraordinary Times
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Author : C. Fred Bergsten
language : en
Publisher: Peterson Institute
Release Date : 2012-03-15
Global Economics In Extraordinary Times written by C. Fred Bergsten and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-15 with Business & Economics categories.
Over the course of five decades, John Williamson has published an extraordinary number of books, articles, and other pieces on topics ranging from international monetary economics to development policy and bridging scholarly literature and policy debates. This book provides an overview and insight into Williamson's work. It includes contributions from the editors, Stanley Fischer, Edwin M. Truman, Paul De Grauwe, Yuemei Ji, Marcus Miller, Avinash Persaud, Stephany Griffith-Jones, Dagmar Hertova, Olivier Jeanne, Shankar Acharya, Jose Antonio Ocampo, and an essay by John Williamson on designing economic policy.
Stochastic Process Switching And Intervention In Exchange Rate Target Zones
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Author : Axel A. Weber
language : en
Publisher:
Release Date : 1991
Stochastic Process Switching And Intervention In Exchange Rate Target Zones written by Axel A. Weber and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Foreign exchange categories.
The New Palgrave Dictionary Of Money And Finance
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Author : John Eatwell
language : en
Publisher: Springer
Release Date : 1992-10-14
The New Palgrave Dictionary Of Money And Finance written by John Eatwell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-10-14 with Business & Economics categories.
The first reference work ever to be awarded the Eccles Prize for Excellence in Economic Writing from Columbia Business School. Continuing in the tradition of The New Palgrave , this 3-volume set provides an unparalleled guide to modern money, banking and finance. In over 1,000 substantial essays by leading academic and professional authorities, it provides the most comprehensive analysis available of contemporary theory and the fast-evolving global monetary and financial framework. In its scope and depth of coverage, it is indispensable for the academic and practitioner alike.
International Finance
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Author : Maurice D. Levi
language : en
Publisher: Routledge
Release Date : 2007-05-07
International Finance written by Maurice D. Levi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-05-07 with Business & Economics categories.
In this updated fourth edition, author Maurice Levi successfully integrates both the micro and macro aspects of international finance. He sucessfully explores managerial issues and focuses on problems arising from financial trading relations between nations, whilst covering key topics such as: * organization of foreign exchange markets * determination of exchange rates * the fundamental principles of international finance * foreign exchange risk and exposure * fixed and flexible exchange rates. This impressive new edition builds and improves upon the popular style and structure of the original. With new data, improved pedagogy, and coverage of all of the main developments in international finance over the last few years, this book will prove essential reading for students of economics and business.