Exchange Rates Money And Output
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Exchange Rates Money And Output
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Author : Michele Fratianni
language : en
Publisher: Springer
Release Date : 1984-12-12
Exchange Rates Money And Output written by Michele Fratianni and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984-12-12 with Business & Economics categories.
Money Exchange Rates And Output
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Author : Guillermo A. Calvo
language : en
Publisher: MIT Press
Release Date : 1996
Money Exchange Rates And Output written by Guillermo A. Calvo and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Guillermo Calvo, who foresaw the financial crisis that followed the devaluationn of Mexico's peso, has spent much of his career thinking beyond the conventional wisdom. In a quiet and understated way, Calvo has made seminal contributions to several major research areas in macroeconomics, particularly monetary policy, exchange rates, public debt, and stabilization in Latin America and post-communist countries. Money, Exchange Rates, and Output brings together these contributions in a broad selection of the author's work over the past two decades. There are introductions to each section, and an introduction to the entire collection that outlines the connections throughout and survey the current state of macroeconomic theory. Specific issues covered are predetermined exchange rates, currency substitution, domestic public debt and seigniorage, and stabilizing transition economics.
Limits Of Floating Exchange Rates
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Author : Mr.Sebastian Weber
language : en
Publisher: International Monetary Fund
Release Date : 2011-02-01
Limits Of Floating Exchange Rates written by Mr.Sebastian Weber 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 2011-02-01 with Business & Economics categories.
A traditional argument in favor of flexible exchange rates is that they insulate output better from real shocks, because the exchange rate can adjust and stabilize demand for domestic goods through expenditure switching. This argument is weakened in models with high foreign currency debt and low exchange rate pass-through to import prices. The present study evaluates the empirical relevance of these two factors. We analyze the transmission of real external shocks to the domestic economy under fixed and flexible exchange rate regimes for a broad sample of countries in a Panel VAR and let the responses vary with foreign currency indebtedness and import structure. We find that flexible exchange rates do not insulate output better from external shocks if the country imports mainly low pass-through goods and can even amplify the output response if foreign indebtedness is high.
The Effects Of Exchange Rate Fluctuationson Output And Prices
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Author : Ida Aghdas Mirzaie
language : en
Publisher: International Monetary Fund
Release Date : 2003-10-01
The Effects Of Exchange Rate Fluctuationson Output And Prices written by Ida Aghdas Mirzaie 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 2003-10-01 with Business & Economics categories.
The paper examines the effects of exchange rate fluctuations on real output and the price level in a sample of 33 developing countries. The theoretical model decomposes movements in the exchange rate into anticipated and unanticipated components. Unanticipated currency fluctuations help to determine aggregate demand through exports, imports, and the demand for domestic currency, and aggregate supply through the cost of imported intermediate goods. Anticipated exchange rate depreciation, through the supply channel, has limited effects on output growth and inflation. Unanticipated currency fluctuations appear more significant, with varying effects on output growth and price inflation across developing countries.
Exchange Rates Capital Flows And Policy
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Author : Rebecca Driver
language : en
Publisher: Routledge
Release Date : 2013-04-15
Exchange Rates Capital Flows And Policy written by Rebecca Driver and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-15 with Business & Economics categories.
Combining thorough scholarship with illuminating real-world examples, this edited collection provides insights on the causes and consequences of movements in both exchange rates and external assets and has a strong focus on the policy implications of operating in an open economy, particularly the choice of exchange rate and monetary policy, exchange rate intervention and policies on capital mobility.
The Exchange Rate In A Dynamic Optimizing Current Account Model With Nominal Rigidities
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Author : Robert Miguel W. K. Kollman
language : en
Publisher: International Monetary Fund
Release Date : 1997-01-01
The Exchange Rate In A Dynamic Optimizing Current Account Model With Nominal Rigidities written by Robert Miguel W. K. Kollman 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 1997-01-01 with Business & Economics categories.
This paper studies dynamic-optimizing model of a semi-small open economy with sticky nominal prices and wages. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of nominal and real exchange rates is roughly consistent with that of G-7 effective exchange rates during the post-Bretton Woods era. The model predicts that a positive domestic money supply shock lowers the domestic nominal interest rate, that it raises output and that it leads to a nominal and real depreciation of the country’s currency. Increases in domestic labor productivity and in the world interest rate too are predicted to induce a nominal and real exchange rate depreciation.
Explaining International Comovements Of Output And Asset Returns
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Author : Robert Miguel W. K. Kollman
language : en
Publisher: International Monetary Fund
Release Date : 1999-06-01
Explaining International Comovements Of Output And Asset Returns written by Robert Miguel W. K. Kollman 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 1999-06-01 with Business & Economics categories.
Empirically, output and asset returns are highly positively correlated across the United States and the other major industrialized countries. Standard business cycle models that assume flexible prices and wages, in the Real Business Cycle tradition, have great difficulties explaining this fact. This paper presents a dynamic-optimizing stochastic general equilibrium model of a two-country world with sticky nominal prices and wages and a flexible exchange rate. The structure here predicts positive international transmission of country-specific monetary policy and technology shocks, and it generates sizable cross-country correlations of output and of asset returns.
The Money Supply And The Exchange Rate
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Author : Walter Eltis
language : en
Publisher: Oxford University Press, USA
Release Date : 1981
The Money Supply And The Exchange Rate written by Walter Eltis and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Foreign exchange categories.
Flexible Exchange Rates For A Stable World Economy
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Author : Joseph E. Gagnon
language : en
Publisher: Peterson Institute
Release Date : 2011
Flexible Exchange Rates For A Stable World Economy written by Joseph E. Gagnon and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
Exchange Rates And Policy Coordination
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Author : Peter B. Kenen
language : en
Publisher: Manchester University Press
Release Date : 1989
Exchange Rates And Policy Coordination written by Peter B. Kenen and has been published by Manchester University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.