Flexible Exchange Rates And Employment Policy

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Flexible Exchange Rates And Employment Policy

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Author : Robert Alexander Mundell
language : en
Publisher:
Release Date : 1961

Flexible Exchange Rates And Employment Policy written by Robert Alexander Mundell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1961 with Employment stabilization categories.

Policies For Employment Prices And Exchange Rates

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Author : Karl Brunner
language : en
Publisher: North-Holland
Release Date : 1979

Policies For Employment Prices And Exchange Rates written by Karl Brunner and has been published by North-Holland this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Business & Economics categories.

Trade And Payments Adjustment Under Flexible Exchange Rates

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Author : International Economics Study Group
language : en
Publisher: Trade Policy Research Centre
Release Date : 1979

Trade And Payments Adjustment Under Flexible Exchange Rates written by International Economics Study Group and has been published by Trade Policy Research Centre this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Business & Economics 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.

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. .

Economic Policy Exchange Rates And The International System

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Author : Warner Max Corden
language : en
Publisher: OUP Oxford
Release Date : 1994

Economic Policy Exchange Rates And The International System written by Warner Max Corden and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.

In an outstanding account of exchange rates inthe international monetary system, W. Max Corden considers the essential issues in international macroeconomics.The author takes as his model the macroeconomic situation of a country with an open economy, and explains the effects of domestic fiscal and monetary macroeconomic policy on exchange rates. He clearly analyses the choices faced by governments attempting to manage both the domestic inflation rateand the external exchange rate and current account balance. Professor Corden then discusses the European Exchange Rate mechanism, and provides a sceptical analysis of the possibilities for monetary union in Europe, and for international policy coordination in general. He gives equal weight todiscussion of the present US-centred international monetary system outside the ERM, and combines theoretical models with an account of the actual determination of floating exchange rates. Although the book itself is orientated towards monetary rather than trade issues, the author discusses twotopical issues: the role of protectionist policies, and the idea of competitiveness. Finally, he looks at the future of the international monetary system and the series of current reform proposals.Students will find this book useful because the author covers essential issues lucidly and authoritatively. The exposition is entirely non-mathematical. Postgraduate students and academics will be interested since Corden is a distinguished writer on international trade and policy, and hisarguments are powerfully presented.New to this edition:This is a revised and expanded edition of a previous book by Corden, Inflation, Exchange Rates and the World Economy, the third edition of which was published in 1985. In this new book, Professor Corden has fully rewritten the text, but retains the discursive, informal, reader-friendly style ofthe earlier editions. In this new edition, Professor Corden has included two new chapters which extend the treatment of macroeconomic policy, separating it into its fiscal and monetary branches. He also includes a new chapter on the role of the current account balance in determining macroeconomicpolicy. The author has brought his account of the present international monetary context up to date - characterised as the non-system - and has included a new analysis of European monetary issues, incorporating a review of the progress of the EMS towards full monetary union. The book also containsa provocative discussion of two highly topical issues: trade protection, and competitiveness, including both new theoretical analysis and such events as the recent GATT agreement.

Flexible Exchange Rates

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Author : Egon Sohmen
language : en
Publisher:
Release Date : 1961

Flexible Exchange Rates written by Egon Sohmen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1961 with Foreign exchange categories.

Exchange Rate Policy And Devaluation In Malawi

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Author : Karl Pauw
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2013-03-19

Exchange Rate Policy And Devaluation In Malawi written by Karl Pauw and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-19 with Social Science categories.

The Malawian economy has in recent months been plagued by a severe foreign exchange crisis, fueled in part by a steadily rising import bill, sharp successive declines in tobacco export prices, the suspension of direct government budget support from several development partners in 2011, and an all-time low in international investor confidence. Up until the regime change in April 2012, the government resisted calls for a devaluation, which at the time resulted in a thriving parallel foreign exchange market. At its peak, the Malawi kwacha was trading at a premium of up to 100 percent in this secondary market. Economic theory shows that such a situation has adverse implications for an economy in terms of the balance-of-payments adjustment process and income distribution in the economy. Those with access to foreign exchange at the official rate are able to extract rents by selling foreign currency or imported goods at inflated prices. Imports sold domestically are then often valued at the parallel exchange rate rather than the official rate, with the parallel market rate serving as the only adjustment mechanism through which equilibrium can be restored in the balance of payments. This has a significant impact on domestic inflation to the detriment of consumers, while those with preferential access to foreign exchange at the official rate capture large rents. A simulation exercise using an economywide model for Malawi considers how the economy responds to different types of foreign exchange shocks under fixed and flexible exchange rate regimes. While the foreign exchange crisis in itself has severe negative implications for the economy, our results suggest that the economy responds much better to these types of shocks under a flexible exchange rate regime (that is, devaluations or a free-floating currency). Our main simulation shows that under the latter policy, gross domestic product growth, although negative, is 1.5 percentage points higher than under a fixed exchange rate policy. Similarly, poverty is 6.9 percentage points lower. A relaxation of the exchange rate policy, however, is only part of the solution; in the longer run, good governance and sound macroeconomic policy that is conducive to growth are needed to address the underlying structural problems in the economy that also contribute to foreign exchange shortages.

The Economics Of Flexible Exchange Rates

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Author : Helmut Frisch
language : en
Publisher: Duncker & Humblot
Release Date : 1980

The Economics Of Flexible Exchange Rates written by Helmut Frisch and has been published by Duncker & Humblot this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Business & Economics categories.

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.