Determinants Of The Choice Of Exchange Rate Regimes In Six Central American Countries
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Determinants Of The Choice Of Exchange Rate Regimes In Six Central American Countries
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Author : Mr.Michael G. Papaioannou
language : en
Publisher: International Monetary Fund
Release Date : 2003-03-01
Determinants Of The Choice Of Exchange Rate Regimes In Six Central American Countries written by Mr.Michael G. Papaioannou 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 2003-03-01 with Business & Economics categories.
This paper examines whether decisions about the appropriate exchange rate regime in six Central American countries were based on longer-run economic fundamentals or on the confluence of historical and political circumstances. To uncover any actual relationship both across countries and across time, we estimate several probit and multinomial logit models of exchange rate regime choice with data spanning the period 1974-2001. We find that theoretical long-run determinants, such as trade openness, export share with the major trading partner, economic size, and per capita income, are adequate, but not robust, predictors of exchange rate regime choice. However, we were not able to establish a statistically significant association between the terms of trade fluctuations or capital account openness and a particular regime in any specification using our sample.
How Do Exchange Rate Regimes Affect Firms Incentives To Hedge Currency Risk Micro Evidence For Latin America
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Author : Herman Kamil
language : en
Publisher: International Monetary Fund
Release Date : 2012-03-01
How Do Exchange Rate Regimes Affect Firms Incentives To Hedge Currency Risk Micro Evidence For Latin America written by Herman Kamil 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 2012-03-01 with Business & Economics categories.
Using a unique dataset with information on the currency composition of firms' assets and liabilities in six Latin-American countries, I investigate how the choice of exchange rate regime affects firms' foreign currency borrowing decisions and the associated currency mismatches in their balance sheets. I find that after countries switch from pegged to floating exchange rate regimes, firms reduce their levels of foreign currency exposures, in two ways. First, they reduce the share of debt contracted in foreign currency. Second, firms match more systematically their foreign currency liabilities with assets denominated in foreign currency and export revenues--effectively reducing their vulnerability to exchange rate shocks. More broadly, the study provides novel evidence on the impact of exchange rate regimes on the level of un-hedged foreign currency debt in the corporate sector and thus on aggregate financial stability.
Exchange Rate Regimes
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Author : I. Moosa
language : en
Publisher: Springer
Release Date : 2006-03-28
Exchange Rate Regimes written by I. Moosa and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-28 with Business & Economics categories.
This book explores the exchange rate regime choice and the role played by the exchange rate in the economy. Approaching the classification of exchange rate regimes from theoretical, practical and historical perspectives, the book discusses pertinent case studies, including the choice of exchange rate regime in the post-conflict case of Iraq.
Inflation Targeting In The World Economy
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Author : Edwin M Truman
language : en
Publisher: Columbia University Press
Release Date : 2003-10-27
Inflation Targeting In The World Economy written by Edwin M Truman and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-10-27 with Business & Economics categories.
This study reviews the literature on the contribution of low inflation to economic growth and the subsequent widespread adoption of inflation targeting as a monetary policy framework. Edwin Truman addresses the challenges and risks associated with such a framework. Building on these foundations, the study focuses on two major international economic policy issues: (1) the implications of differing national regimes of inflation targeting for international economic policy cooperation; and (2) the adoption of inflation targeting by emerging-market economies which often lack stable monetary policy environments and credible policy authorities—a situation which, among other things, can complicate the use of the inflation targeting framework as the basis for IMF-supported stabilization programs.
Inflation Targeting And Exchange Rate Management In Less Developed Countries
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Author : Mr. Marco Airaudo
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-08
Inflation Targeting And Exchange Rate Management In Less Developed Countries written by Mr. Marco Airaudo 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 2016-03-08 with Business & Economics categories.
We analyze coordination of monetary and exchange rate policy in a two-sector model of a small open economy featuring imperfect substitution between domestic and foreign financial assets. Our central finding is that management of the exchange rate greatly enhances the efficacy of inflation targeting. In a flexible exchange rate system, inflation targeting incurs a high risk of indeterminacy where macroeconomic fluctuations can be driven by self-fulfilling expectations. Moreover, small inflation shocks may escalate into much larger increases in inflation ex post. Both problems disappear when the central bank leans heavily against the wind in a managed float.
Annual Report On Exchange Arrangements And Exchange Restrictions 2013
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-15
Annual Report On Exchange Arrangements And Exchange Restrictions 2013 written by International Monetary Fund. Monetary and Capital Markets Department 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 2013-12-15 with Business & Economics categories.
This is the 64th issue of the AREAER. It provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It also provides information on the operation of foreign exchange markets and controls on international trade. It describes controls on capital transactions and measures implemented in the financial sector, including prudential measures. In addition, it reports on exchange measures imposed by member countries for security reasons. A single table provides a snapshot of the exchange and trade systems of all IMF member countries. The Overview describes in detail how the general trend toward foreign exchange liberalization continued during 2012, alongside a strengthening of the financial sector regulatory framework. The AREAER is available in several formats. The Overview in print and online, and the detailed information for each of the 191 member countries and territories is included on a CD that accompanies the printed Overview and in an online database, AREAER Online. In addition to the information on the exchange and trade system of IMF member countries in 2012, AREAER Online contains historical data published in previous issues of the AREAER. It is searchable by year, country, and category of measure and allows cross country comparisons for time series.
Currency Politics
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Author : Jeffry A. Frieden
language : en
Publisher: Princeton University Press
Release Date : 2014-12-28
Currency Politics written by Jeffry A. Frieden and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-28 with Business & Economics categories.
The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Publications Catalog
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Author : International Monetary Fund
language : en
Publisher:
Release Date : 2004
Publications Catalog written by International Monetary Fund and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with International finance categories.
Exchange Rate Volatility And Trade Flows Some New Evidence
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2004-05-19
Exchange Rate Volatility And Trade Flows Some New Evidence written by International Monetary Fund 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 2004-05-19 with Business & Economics categories.
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Moneda Y Cr Dito
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Author :
language : en
Publisher:
Release Date : 2005
Moneda Y Cr Dito written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Economics categories.