Fixed Versus Flexible Exchange Rates
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Moving To A Flexible Exchange Rate
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Author : Mrs.Gilda Fernandez
language : en
Publisher: International Monetary Fund
Release Date : 2006-01-09
Moving To A Flexible Exchange Rate written by Mrs.Gilda Fernandez 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 2006-01-09 with Business & Economics categories.
A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary independence. Other countries have made the transition under disorderly conditions, with the sharp depreciation of their currency during a crisis. Regardless of the reason for adopting a flexible exchange rate, a successful transition depends on the effective management of a number of institutional and operational issues. The authors of this Economic Issue describe the necessary ingredients for moving to a flexible regime, as well as the optimal pace and sequencing under different conditions.
Flexible Exchange Rates And The Balance Of Payments
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Author : Egon Sohmen
language : en
Publisher: North Holland
Release Date : 1980
Flexible Exchange Rates And The Balance Of Payments written by Egon Sohmen and has been published by North Holland this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Business & Economics categories.
Flexible Exchange Rates H
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Author : Jan Herin
language : en
Publisher: Routledge
Release Date : 2019-03-12
Flexible Exchange Rates H written by Jan Herin and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-12 with Political Science categories.
This book contains the papers, comments, and the discussion at a conference on "Flexible Exchange Rates and Stabilization Policy", held at Saltsjobaden, Stockholm, August 26–27, 1975. The papers integrate the flexible exchange rates theory with macro theory and stabilization policy analysis. .
Fixed Versus Flexible Exchange Rates
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Author : Aaron Tornell
language : en
Publisher:
Release Date : 1995
Fixed Versus Flexible Exchange Rates 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 Fiscal policy categories.
In recent years the conventional wisdom has held that fixed rates provide more fiscal discipline than do flexible rates. In this paper we show that this wisdom need not hold in a standard model in which fiscal policy is endogenously determined by a maximizing fiscal authority. The claim that fixed rates induce more discipline stresses that sustained adoption of lax fiscal policies must eventually lead to an exhaustion of reserves and thus to a politically costly collapse of the peg. Hence, under fixed rates bad behavior today leads to punishment tomorrow. Under flexible rates bad behavior has costs as well. The difference is in the intertemporal distribution of these costs: flexible rates allow the effects of unsound fiscal policies to manifest themselves immediately through movements in the exchange rate. Hence, bad behavior today leads to punishment today. If fiscal authorities are impatient, flexible rates - by forcing the costs to be paid up-front - provide more fiscal discipline and higher welfare for the representative private agent. The recent experience of Sub- Saharan countries supplies some preliminary evidence that matches the predictions of the model.
Exchange Rate Regimes And Location
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Author : Mr.Luca Antonio Ricci
language : en
Publisher: International Monetary Fund
Release Date : 1997-06-01
Exchange Rate Regimes And Location written by Mr.Luca Antonio Ricci 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 1997-06-01 with Business & Economics categories.
This paper investigates the effects of fixed versus flexible exchange rates on firms’ location choices and on countries’ specialization patterns. In a two-country, two-differentiated-goods monetary model, demand, supply, and monetary (as well as exchange rate) shocks arise after wages are set and prices are optimally chosen. The paper finds that countries are more specialized under flexible than fixed rates, and that the pattern of specialization is not uniquely defined by trade models but depends also on the exchange rate regime. The adoption of fixed exchange rates endogenously increases the desirability of this currency area by reducing the shock asymmetry. These results also shed light on the effects of exchange rate variability on trade.
Fixed Or Flexible
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1998-04-17
Fixed Or Flexible 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 1998-04-17 with Business & Economics categories.
This paper examines the recent evolution of exchange rate policies inthe developing world. It looks at why so many countries have made a transition from fixed or "pegged" exchange rates to "managed floating"currencies. It discusses how economies perform under different exchangerate arrangements, issues in the choice of regime, and the challenges poised by a world of increasing capital mobility, especially when bankingsectors are inadequately regulated or supervised.
Floating Exchange Rates
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Author : Ronald MacDonald
language : en
Publisher: Allen & Unwin Australia
Release Date : 1988
Floating Exchange Rates written by Ronald MacDonald and has been published by Allen & Unwin Australia this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
Fixed Or Flexible Exchange Rates History And Perspectives
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Author : Marin Muzhani
language : en
Publisher: Vernon Press
Release Date : 2018-05-15
Fixed Or Flexible Exchange Rates History And Perspectives written by Marin Muzhani and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-15 with Business & Economics categories.
This book compares and contrasts flexible versus fixed exchange rate regimes. Beginning with their theoretical justifications, it showcases their observed advantages and disadvantages as they played out in the currency crises of the 1990s and early 2000s across Asia, Europe and Latin America. An analysis of the drivers and implications of these crises singles out fast-paced liberalization and globalization as having played central roles. Moreover it sheds light on some of the factors contributing to the 2008 financial crisis and the key monetary events in its aftermath. An accessible, yet rigorous discussion, supported by extensive evidence, helps readers reach their own conclusions regarding the respective merits of alternative exchange rate systems.
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.
The Balance Of Payments Free Versus Fixed Exchange Rates
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Author : Milton Friedman
language : en
Publisher:
Release Date : 1967
The Balance Of Payments Free Versus Fixed Exchange Rates written by Milton Friedman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1967 with Balance of payments categories.