Exchange Rate Based Stabilization In Argentina And Chile
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Exchange Rate Based Stabilization In Argentina And Chile
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Author : Miguel Alberto Kiguel
language : en
Publisher: World Bank Publications
Release Date : 1994
Exchange Rate Based Stabilization In Argentina And Chile written by Miguel Alberto Kiguel and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Economic stabilization categories.
Exchange- rate- based stabilization programs supported by a sustained fiscal adjustment generally reduced long- term inflation. Success was not easy, however, because rigid adherence to the exchange rate rule many times resulted in strong overvaluation of the currency and balance- of- payments problems before stabilization was finally secured.
Modern Exchange Rate Regimes Stabilisation Programmes And Co Ordination Of Macroeconomic Policies
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Author : Maria Luiza Falcão Silva
language : en
Publisher: Routledge
Release Date : 2018-08-17
Modern Exchange Rate Regimes Stabilisation Programmes And Co Ordination Of Macroeconomic Policies written by Maria Luiza Falcão Silva and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-17 with Business & Economics categories.
Published in 1999, this work analyzes the phenomenon of macroeconomic adjustment, with special emphasis on selected Latin American countries facing stabilization programmes. It provides a historical description of the origins, functioning and collapse of exchange-rate regimes from the international classical gold standard period to modern arrangements. The author supports the argument that systemic asymmetries in the worldwide adjustment mechanism are inherent in the international monetary system. The recent theoretical literature dealing with the rules vs discretion debate and its interaction with the credibility issue is reviewed. This topic is intrinsically related to the dispute over the appropriate role of exchange-rate anchors in disinflation programmes. Against a background of academic dispute between advocates of exchange-rate prescriptions and monetary conceptions, the contrasting views of different theorists regarding the choice of exchange rate regimes are presented and assessed. Finally, a comparative analysis of recent experiments in Argentina, Brazil, Chile and Mexico with exchange-rate based disinflation stabilization programmes is undertaken. The problems that have arisen while establishing new institutional arrangements, such as new currency or a policy rule for monetary base creation, are examined.
Exchange Rate Based Stabilization
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Author : Mr.A. Javier Hamann
language : en
Publisher: International Monetary Fund
Release Date : 1999-10-01
Exchange Rate Based Stabilization written by Mr.A. Javier Hamann 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 1999-10-01 with Business & Economics categories.
Do exchange-rate-based stabilizations generate distinctive economic dynamics? To address this question, this paper identifies stabilization episodes using criteria that differ from those in previous empirical studies of exchange-rate-based stabilizations. We find that, while some differences can be detected between exchange-rate-based stabilizations and stabilizations where the exchange rate is not the anchor, the behavior of important variables does not appear to differ—especially output growth, which is good in both cases. There is also no evidence that fiscal discipline is enhanced by adopting an exchange-rate anchor, or that there are any systematic differences in the success records of stabilizations that use the exchange rate as a nominal anchor and those that do not.
Credit And Exchange Rate Based Stabilization
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Author : May Khamis
language : en
Publisher: International Monetary Fund
Release Date : 1996-05
Credit And Exchange Rate Based Stabilization written by May Khamis 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 1996-05 with Business & Economics categories.
This paper examines the behavior of private sector credit in chronic inflation countries that undergo exchange rate-based inflation stabilizations. It concludes that these programs are characterized by a strong increase in private sector credit, both in absolute terms and as a fraction of real economic activity. Empirical results using data for Mexico, Chile, Argentina, and Israel support a negative statistically significant relationship between credit and inflation for Mexico, Argentina, and Chile, but not for Israel. In addition, for both Chile and Mexico, dummy variables representing periods of inflation stabilization are positive and statistically different from zero indicating a stronger expansion in private sector credit during stabilization. These results could potentially explain the consumption boom that is usually present in the early stages of these programs.
Lessons From Exchange Rate Based Stabilization In Argentina
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Author : Rainer Schweickert
language : en
Publisher:
Release Date : 1993
Lessons From Exchange Rate Based Stabilization In Argentina written by Rainer Schweickert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.
The Business Cycle Associated With Exchange Rate Based Stabilization
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Author : Miguel Alberto Kiguel
language : en
Publisher: World Bank Publications
Release Date : 1990
The Business Cycle Associated With Exchange Rate Based Stabilization written by Miguel Alberto Kiguel and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business cycles categories.
Disinflation programs in chronic inflation countries do not normally follow the usual Phillips curve tradeoff in the medium run. Instead of having a sharp recession in the early stage of stabilization, there often is an initial expansion of output followed by a recession and balance of payments difficulties. This pattern is related to programs that use the exchange rate as an instrument of disinflation.
Money Based Versus Exchange Rate Based Stabilization With Endogenous Fiscal Policy
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Author : Aaron Tornell
language : en
Publisher:
Release Date : 1995
Money Based Versus Exchange Rate Based Stabilization With Endogenous Fiscal Policy written by Aaron Tornell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
Stabilization And The Rate Of Exchange
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Author : Larry A. Sjaastad
language : en
Publisher:
Release Date : 1981
Stabilization And The Rate Of Exchange written by Larry A. Sjaastad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with categories.
Lessons From The Crisis In Argentina
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Author : Ms.Christina Daseking
language : en
Publisher: International Monetary Fund
Release Date : 2005-02-10
Lessons From The Crisis In Argentina written by Ms.Christina Daseking 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 2005-02-10 with Business & Economics categories.
In 2001- 02, Argentina experienced one of the worst economic crises in its history. A default on government debt, which occurred against the backdrop of a prolonged recession, sent the Argentine currency and economy into a tailspin. Although the economy has since recovered from the worst, the crisis has imposed hardships on the people of Argentina, and the road back to sustained growth and stability is long. The crisis was all the more troubling in light of the fact that Argentina was widely considered a model reformer and was engaged in a succession of IMF-supported programs through much of the 1990s. This Occasional Paper examines the origins of the crisis and its evolution up to early 2002 and draws general policy lessons, both for countries’ efforts to prevent crises and for the IMF’s surveillance and use of its financial resources.
Exchange Rate Based Stabilization In Argentina
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Author : Monika Wohlmann
language : en
Publisher:
Release Date : 1997
Exchange Rate Based Stabilization In Argentina written by Monika Wohlmann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.