Monetary Regimes And Macroeconomic Policy

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Monetary Regimes And Macroeconomic Policy

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Author : Fabiana Fontes Rocha
language : en
Publisher:
Release Date : 1995

Monetary Regimes And Macroeconomic Policy written by Fabiana Fontes Rocha and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Anti-inflationary policies categories.

Exchange Rate Regimes And Macroeconomic Management In Asia

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Author : Tony Cavoli
language : en
Publisher: Hong Kong University Press
Release Date : 2009-06-01

Exchange Rate Regimes And Macroeconomic Management In Asia written by Tony Cavoli and has been published by Hong Kong University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-01 with Business & Economics categories.

With the rise of China, India and the re-emergence of East Asia from the financial crisis of 1997–98, monetary issues in Asia have acquired great significance as the region holds the largest reserves in the world and consequently plays a major role in the global macro-economy. In addition, there are also a great variety of monetary policy regimes at play in the region – reflecting each country's needs and policy preferences. This volume explores monetary, exchange rate and macroeconomic policies in Asia. A particular question that is analysed is Asia's experience since the crisis with the use of monetary policy to manage the resurgence in capital inflows. It also examines the theoretical and policy issues associated with international capital flows, the increasing degree of integration of financial markets and exchange rates for emerging Asian economies. The book is unique in focussing on China, India and Southeast Asia, rather than just having a sub-regional or country-specific focus. Rigorous empirical analysis is applied to important practical policy issues. The book also provides accessible overviews of recent research relevant to the questions that are explored and is written throughout in a manner that is accessible to policy makers, students and business/financial journalists.

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 Regimes

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Author : Atish R. Ghosh
language : en
Publisher: MIT Press
Release Date : 2002

Exchange Rate Regimes written by Atish R. Ghosh and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.

An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early 1970s, countries have adopted a wide variety of regimes, ranging from pure floats at one extreme to currency boards and dollarization at the other. While a vast theoretical literature explores the choice and consequences of exchange rate regimes, the abundance of possible effects makes it difficult to establish clear relationships between regimes and common macroeconomic policy targets such as inflation and growth. This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the experience of some 150 member countries of the International Monetary Fund over the past thirty years. Among other questions, it asks whether pegging the exchange rate leads to lower inflation, whether floating exchange rates are associated with faster output growth, and whether pegged regimes are particularly prone to currency and other crises. The book draws on history and theory to delineate the debate and on standard statistical methods to assess the empirical evidence, and includes a CD-ROM containing the data set used.

Exchange Rate Regimes And Macroeconomic Stability

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Author : Lok Sang Ho
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-06-28

Exchange Rate Regimes And Macroeconomic Stability written by Lok Sang Ho and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-28 with Business & Economics categories.

The Asian crisis of 1997-1998 was a major influence on macroeconomic thinking concerning exchange rate regimes, the functioning of international institutions, such as the IMF and the World Bank, and international contagion of macroeconomic instability from one country to another. Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability. Overall, the chapters contained in this volume offer interesting perspectives, which have been stimulated by the recent events in the foreign exchange market. They provide a useful reference for anyone interested in the development of exchange rate regimes, and represent considerable reflection by economists half a century after Bretton Woods.

Monetary Regime Transformations

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Author : Barry J. Eichengreen
language : en
Publisher: Edward Elgar Publishing
Release Date : 1992

Monetary Regime Transformations written by Barry J. Eichengreen and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.

This important volume collects, for the first time, key essays and papers on monetary regime transformations by economists, historians and political scientists alike. The inflation of the 1970s prompted considerable research by economists on monetary regimes and their transformation. However, empiricists who take seriously the notion that monetary regimes matter must necessarily examine long spans of data and, by implication, analyse historical experience. Empirical research on monetary regimes necessarily is historical research. The landmark volume - presenting as it does a careful selection of the most important historical essays - will be essential to an understanding of monetary regime transformations.

A New Taxonomy Of Monetary Regimes

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Author : Mr.Ashok Bhundia
language : en
Publisher: International Monetary Fund
Release Date : 2004-10-01

A New Taxonomy Of Monetary Regimes written by Mr.Ashok Bhundia 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 2004-10-01 with Business & Economics categories.

This paper proposes a new taxonomy of monetary regimes defined by the choice and clarity of the nominal anchor. The regimes are as follows: (i) monetary nonautonomy, (ii) weak anchor, (iii) money anchor, (iv) exchange rate peg, (v) full-fledged inflation targeting, (vi) implicit price stability anchor, and (vii) inflation targeting lite. This taxonomy captures the commitment-discretion tradeoffs that lie at the heart of choosing a monetary regime. During the last 15 years the world has moved toward monetary regimes with less discretion. Empirical analysis suggests that country regime choices reflect the level of financial and economic development and recent inflation history.

Monetary Policy Is Not Always Systematic And Data Driven Evidence From The Yield Curve

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Author : Mr.Ales Bulir
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-17

Monetary Policy Is Not Always Systematic And Data Driven Evidence From The Yield Curve written by Mr.Ales Bulir 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 2020-01-17 with Business & Economics categories.

Does monetary policy react systematically to macroeconomic innovations? In a sample of 16 countries – operating under various monetary regimes – we find that monetary policy decisions, as expressed in yield curve movements, do react to macroeconomic innovations and these reactions reflect the monetary policy regime. While we find evidence of the primacy of the price stability objective in the inflation targeting countries, links to inflation and the output gap are generally weaker and less systematic in money-targeting and multiple-objective countries.

Monetary Regimes And Macroeconomic Policy Coordination In Mercosur

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Author : Jose ́ Mari ́a Fanelli
language : en
Publisher:
Release Date : 2002

Monetary Regimes And Macroeconomic Policy Coordination In Mercosur written by Jose ́ Mari ́a Fanelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Argentina categories.

Monetary Regimes Of The Twentieth Century

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Author : Andrew Britton
language : en
Publisher: Cambridge University Press
Release Date : 2001-06-04

Monetary Regimes Of The Twentieth Century written by Andrew Britton and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-06-04 with Business & Economics categories.

Abstract economic theory may be timeless and potentially universal in its application, but macroeconomics has to be seen in its historical context. The nature of the policy regime, the behaviour of the economy and the beliefs of professional economists all interact, and influence each other. This short historical account of monetary regimes since 1900 shows how the role of policy has changed, and how this has related to experience of inflation and the real economy, as well as to changes in political philosophies. The narrative concentrates on developments in America, Europe and Japan from the era of the classical gold standard, via the era of policy intervention and reduced faith in the market to the present 'neo-liberal' regimes. The 'grand narrative' of the century is a journey 'to Utopia and back'. It is argued that no school of macroeconomics is right for all time; different theoretical models may be appropriate, for different periods and regimes.