Does The Nominal Exchange Rate Regime Matter
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Does The Nominal Exchange Rate Regime Matter
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Author : Mr.Atish R. Ghosh
language : en
Publisher: International Monetary Fund
Release Date : 1995-11-01
Does The Nominal Exchange Rate Regime Matter written by Mr.Atish R. Ghosh 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 1995-11-01 with Business & Economics categories.
The effect of the exchange rate regime on inflation and growth is examined. The 30-year data set includes over 100 countries and nine regime types. Pegged regimes are associated with lower inflation than intermediate or flexible regimes. This anti-inflationary benefit reflects lower money supply growth (a discipline effect) and higher money demand growth (a credibility effect). Output growth does not vary significantly across regimes: Countries with pegged regimes invest more and are more open to international trade than those with flexible rates, but they experience lower residual productivity growth. Output and employment are more variable under pegged rates than under flexible rates.
Real Exchange Rate Volatility
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Author : Ms.Hong Liang
language : en
Publisher: International Monetary Fund
Release Date : 1998-10-01
Real Exchange Rate Volatility written by Ms.Hong Liang 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 1998-10-01 with Business & Economics categories.
A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different econometric methods, over the period 1880-1997. It finds strong evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an important role in determining the persistence of shocks to the RER.
Does The Nominal Exchange Rate Regime Matter
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Author :
language : en
Publisher:
Release Date : 1996
Does The Nominal Exchange Rate Regime Matter written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Does The Nominal Exchange Rate Regime Matter
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Author : Atish R. Ghosh
language : en
Publisher:
Release Date : 2006
Does The Nominal Exchange Rate Regime Matter written by Atish R. Ghosh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
The effect of the exchange rate regime on inflation and growth is examined. The 30-year data set includes over 100 countries and nine regime types. Pegged regimes are associated with lower inflation than intermediate or flexible regimes. This anti-inflationary benefit reflects lower money supply growth (a discipline effect) and higher money demand growth (a credibility effect). Output growth does not vary significantly across regimes: Countries with pegged regimes invest more and are more open to international trade than those with flexible rates, but they experience lower residual productivity growth. Output and employment are more variable under pegged rates than under flexible rates.
Does The Exchange Regime Matter For Inflation And Growth
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1996-09-01
Does The Exchange Regime Matter For Inflation And Growth 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 1996-09-01 with Business & Economics categories.
Although the theoretical relationships are ambiguous, evidence suggestsa strong link between the choice of the exchange rate regime and economicperformance. The paper argues that adopting a pegged exchange rate canlead to lower inflation, but also to slower growth in productivity. Itfinds that on average per capita GDP growth was slightly faster underfloating regimes than under pegged exchange regimes.
Does The Nominal Exchange Rate Regime Matter
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Author : International Monetary Fund
language : en
Publisher:
Release Date : 1996
Does The Nominal Exchange Rate Regime Matter 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 1996 with categories.
Does The Nominal Exchange Rate Regime Matter For Investment
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Author : Hjalmar Böhm
language : en
Publisher:
Release Date : 2001
Does The Nominal Exchange Rate Regime Matter For Investment written by Hjalmar Böhm and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
This paper analyses the impact of exchange rate uncertainty upon the pattern of investment in different exchange rate regimes (very hard pegs, intermediate regimes, and floats) by means of a unified approach. The comparison of different exchange rate regimes indicates that currency volatility exerts only a small influence upon the level if investment spending. On the other hand, firms turn out to be more cautious about responding to exchange rate shocks in a credible target zone model than in a flexible exchange rate regime or in a target zone model with stochastic realignments.
Does The Choice Of A Nominal Exchange Rate Regime Matter For Real Exchange Rate Movements Comments On Orlowski
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Author : Ali M. Kutan
language : en
Publisher:
Release Date : 2003
Does The Choice Of A Nominal Exchange Rate Regime Matter For Real Exchange Rate Movements Comments On Orlowski written by Ali M. Kutan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Orlowski's paper is an important contribution to the literature on monetary policy in transition economies. It studies how variant monetary policies conducted in leading transition economies, Hungary, Poland, and the Czech Republic, have affected the real exchange rate trends differently. The sample period covers the post-95 period. Orlowski's findings indicate that the choice of a nominal exchange rate regime does matter for the behaviour of real economic variables.
Does The Nominal Exchange Rate Regime Matter For Investment
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Author :
language : en
Publisher:
Release Date : 2001
Does The Nominal Exchange Rate Regime Matter For Investment written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Fixed Or Floating Exchange Regimes
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Author : Peter J. Quirk
language : en
Publisher: International Monetary Fund
Release Date : 1994-11-01
Fixed Or Floating Exchange Regimes written by Peter J. Quirk 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 1994-11-01 with Business & Economics categories.
This paper reviews recent experience with the choice of floating or fixed (“anchor”) exchange regimes in industrial and developing countries. It concludes that desirable differences between the two sets of regimes have narrowed, owing to the useful operational role of exchange rate margins and unavoidable medium-term rate adjustments in the context of fixed regimes. A survey of recent empirical cross-country literature also suggests little unambiguous association of the choice of exchange regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has generally been a by-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility depend on the country-specific assignments of policy instruments to more than one institution--central bank, government, or regional and multilateral institutions.