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Real Adjustment Processes Under Floating Exchange Rates

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Real Adjustment Processes Under Floating Exchange Rates

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Author : Franz Gehrels
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Real Adjustment Processes Under Floating Exchange Rates written by Franz Gehrels 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 2012-12-06 with Business & Economics categories.

Helmut Schneider 1. The Formulation of the Research Programme 1. In the late sixties the acceleration of US inflation revived the discussion of the fifties about the superiority of flexible exchange rates: The US balance of payments deteriorated since 1965, the dollar shortage after World War II changed to a dollar surplus. The import of US inflation by their main trading partners intensified political pressures so that at the beginning of the seventies most leading countries decided, contrary to the rules of the Bretton Woods agreement, to stop their intervention in the market for foreign exchange and to let the exchange rates be determined by market forces. It is worthwhile recalling that at that time one had only very limited experience with the regime of flexible exchange rates: The most important case, the floating of Canadian against the US dollar, could not be generalized to a world where nearly all important countries adhered to the regime of flexible exchange rates. ! - But one really had rich experience with destabilizing capital flows (or "hot money") that forced monetary authorities to adjust exchange rates in a system of managed flexibility to the expecta tions of "speculators".

Real Adjustment Processes Under Floating Exchange Rates

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Author : Franz Gehrels
language : en
Publisher: Springer Verlag
Release Date : 1990

Real Adjustment Processes Under Floating Exchange Rates written by Franz Gehrels and has been published by Springer Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.

The Functioning Of Floating Exchange Rates

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Author : David Bigman
language : en
Publisher: Cambridge, Mass. : Ballinger
Release Date : 1980

The Functioning Of Floating Exchange Rates written by David Bigman and has been published by Cambridge, Mass. : Ballinger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Business & Economics categories.

Floating Exchange Rates And The Need For Surveillance

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Author : Jacques R. Artus
language : en
Publisher:
Release Date : 1978

Floating Exchange Rates And The Need For Surveillance written by Jacques R. Artus and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.

No Pain All Gain Exchange Rate Flexibility And The Expenditure Switching Effect

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Author : Mr.Yan Carriere-Swallow
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-01

No Pain All Gain Exchange Rate Flexibility And The Expenditure Switching Effect written by Mr.Yan Carriere-Swallow 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 2018-10-01 with Business & Economics categories.

Theoretical models on the relationship between prices and exchange rates predict that the magnitude of expenditure switching affects the optimal choice of exchange rate regime. Focusing on the transmission of terms-of-trade shocks to domestic real variables we document that the magnitude of the expenditure switching effect is positively associated to the degree of exchange rate flexibility. Moreover, results show that flexible exchange rates allow for significant adjustment in relative prices, which in turn lowers the burden of adjustment on demand for domestic goods and, in some cases, facilitates a faster and more durable external adjustment process. These results, which are robust to accounting for possible non-linearities due to balance sheet effects or currency mismatches, shed new light on the shock absorbing properties of flexible exchange rates.

Exchange Rates Domestic Prices And The Adjustment Process

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Author : Peter B. Kenen
language : en
Publisher:
Release Date : 1980

Exchange Rates Domestic Prices And The Adjustment Process written by Peter B. Kenen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Balance of payments categories.

The Alignment Of Foreign Exchange Rates

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Author : Fritz Machlup
language : en
Publisher: Irvington Publishers
Release Date : 1972

The Alignment Of Foreign Exchange Rates written by Fritz Machlup and has been published by Irvington Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 1972 with Business & Economics categories.