Currency Speculation In Fixed Exchange Rate Regimes
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Currency Speculation In Fixed Exchange Rate Regimes
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Author : Anja Zenker
language : en
Publisher: Springer Science & Business Media
Release Date : 2014-01-08
Currency Speculation In Fixed Exchange Rate Regimes written by Anja Zenker and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-08 with Business & Economics categories.
Speculative currency crises seem to have become a common and inevitable phenomenon in the international monetary system. Against this background, various approaches have been developed by economists to cover the broad range of situations in which balance-of-payments crises occurred. Anja Zenker provides a comprehensive insight into the body of theoretical and empirical literature about currency speculation in fixed exchange rate regimes. The author discusses different generations of theoretical models and their empirical relevance in recent currency crises. Moreover, she considers diverse policy options which attempt to avoid speculative attacks on exchange rate pegs.
Devaluation Expectations And Speculative Attacks On The Currency
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Author : Alpo Willman
language : en
Publisher:
Release Date : 1987
Devaluation Expectations And Speculative Attacks On The Currency written by Alpo Willman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Devaluation of currency categories.
Speculation And The Dollar
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Author : Laurence Krause
language : en
Publisher: Routledge
Release Date : 2019-07-11
Speculation And The Dollar written by Laurence Krause and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-11 with Political Science categories.
I began serious consideration of the issues and subject matter that comprise this book as a graduate student at the University of Massachusetts at Amherst. In need of a dissertation topic and vaguely curious about international monetary economics, I decided to sit in on Leonard Rapping's undergraduate course on international finance. Needless to say, I was soon hooked. Within several months I was teaching my own course on international money and beginning to write an outline of what would become my doctoral dissertation on foreign exchange speculation. Once completed the dissertation thesis became this basis for this book.
Speculative Bubbles Speculative Attacks And Policy Switching
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Author : Robert P. Flood
language : en
Publisher: MIT Press
Release Date : 1994
Speculative Bubbles Speculative Attacks And Policy Switching written by Robert P. Flood and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
The papers in this book are grouped into three sections: the first on price bubbles is primarily financial; the second on speculative attacks (on exchange rate regimes) is international in scope; and the third, on policy switching, is concerned with monetary policy.
Evolution And Performance Of Exchange Rate Regimes
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Author : Mr.Kenneth Rogoff
language : en
Publisher: International Monetary Fund
Release Date : 2003-12-01
Evolution And Performance Of Exchange Rate Regimes written by Mr.Kenneth Rogoff 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 2003-12-01 with Business & Economics categories.
Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility.
Exchange Rate Regimes
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Author : Atish R. Ghosh
language : en
Publisher: MIT Press
Release Date : 2002
Exchange Rate Regimes written by Atish R. Ghosh and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
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.
Perspectives On The Recent Currency Crisis Literature
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Author : Robert P. Flood
language : en
Publisher: International Monetary Fund
Release Date : 1998-09
Perspectives On The Recent Currency Crisis Literature written by Robert P. Flood 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 1998-09 with Business & Economics categories.
In the 1990s, currency crises in Europe, Mexico and Southeast Asia have drawn worldwide attention to speculative attacks on government-controlled exchange rates. To improve our understanding of these events, researchers have undertaken new theoretical and empirical work. In this paper, we provide some perspective on this work and relate it to earlier research in the area. Then we derive the optimal commitment to a fixed exchange rate and propose a common framework for analyzing currency crises that draws from both the early first-generation work and the more recent second-generation approach. The cross-generational framework stresses the important role of speculators and also recognizes that the government's commitment to a fixed exchange rate is constrained by other policy goals. In the final section we study the crisis prediction literature and find that some crises may be particularly difficult to predict using currently popular methods.
Foreign Exchange Hedging With Synthetic Options And The Interest Rate Defense Of A Fixed Exchange Rate Regime
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Author : Mr.Michael G. Spencer
language : en
Publisher: International Monetary Fund
Release Date : 1994-12-01
Foreign Exchange Hedging With Synthetic Options And The Interest Rate Defense Of A Fixed Exchange Rate Regime written by Mr.Michael G. Spencer 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 1994-12-01 with Business & Economics categories.
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Speculative Attacks Forward Market Intervention And The Classic Bear Squeeze
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Author : Mr.Subir Lall
language : en
Publisher: International Monetary Fund
Release Date : 1997-12-01
Speculative Attacks Forward Market Intervention And The Classic Bear Squeeze written by Mr.Subir Lall 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 1997-12-01 with Business & Economics categories.
A typical strategy used by speculators to launch an attack on a fixed exchange regime is the use of forward markets. Central banks also intervene in forward markets to counter speculation. This paper addresses the question of how an attack is launched on the forward market, and what the optimal policy response to such speculation is in the forward and spot markets. The paper also demonstrates how central banks can impose a bear squeeze on speculators. Recent events in South East Asian currency markets are interpreted within the framework of the model’s predictions.
The Choice Of Exchange Rate Regime And Speculative Attacks
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Author : Alex Cukierman
language : en
Publisher:
Release Date : 2003
The Choice Of Exchange Rate Regime And Speculative Attacks 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 2003 with Foreign exchange administration categories.