The Welfare Effects From Stabilizing European Exchange Rates
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The Welfare Effects From Stabilizing European Exchange Rates
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Author : E. W. M. T. Westerhout
language : en
Publisher:
Release Date : 1996
The Welfare Effects From Stabilizing European Exchange Rates written by E. W. M. T. Westerhout and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Foreign exchange rates categories.
Exchange Rate Pass Through And The Welfare Effects Of The Euro
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Author : Michael B. Devereux
language : en
Publisher:
Release Date : 1999
Exchange Rate Pass Through And The Welfare Effects Of The Euro written by Michael B. Devereux and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Dollar, American categories.
This paper explores the implications of the European single currency within a simple sticky price intertemporal model. The main issue we focus on is how the euro may alter the responsiveness of consumer prices to exchange rate changes. Our central conjectures is that the acceptance of the euro will lead European prices to become more insulated from exchange-rate volatility, much the way U.S. consumer prices already are. We show that this has profound consequences for both the volatility and levels of macroeconomic aggregates in both the U.S. and Europe. We find that European welfare is enhanced, and, more surprisingly U.S. shares in Europe's good fortune. Alternative assumptions about how pricing behavior will change lead to different conclusions, but in all cases we can derive specific implications for expected levels and volatility of macroeconomic varialbes.
Exchange Rate Pass Through And The Welfare Effects Of The Euro
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Author : Michael B. Devereux
language : en
Publisher:
Release Date : 2003
Exchange Rate Pass Through And The Welfare Effects Of The Euro written by Michael B. Devereux and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
This article explores the implications of the European single currency within a simple sticky price intertemporal model. We focus on the question of how the euro may change the sensitivity of consumer prices in Europe to exchange-rate changes. Our central conjecture is that the acceptance of the euro will lead European prices to become more insulated from exchange-rate volatility. We find that this affects both the volatility and levels of macroeconomic aggregates in both the U.S. and Europe. We find that European welfare is enhanced, and the U.S. shares in Europe's good fortune.
Currency Politics
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Author : Jeffry A. Frieden
language : en
Publisher: Princeton University Press
Release Date : 2014-12-28
Currency Politics written by Jeffry A. Frieden and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-28 with Business & Economics categories.
The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
One Market One Money
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Author : Michael Emerson
language : en
Publisher:
Release Date : 1992
One Market One Money written by Michael Emerson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
Is Exchange Rate Stabilization An Appropriate Cure For The Dutch Disease
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Author : Mr.Ruy Lama
language : en
Publisher: International Monetary Fund
Release Date : 2010-08-01
Is Exchange Rate Stabilization An Appropriate Cure For The Dutch Disease written by Mr.Ruy Lama 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 2010-08-01 with Business & Economics categories.
This paper evaluates how successful is a policy of exchange rate stabilization to counteract the negative effects of a Dutch Disease episode. We consider a small open economy model that incorporates nominal rigidities and a learning-by-doing externality in the tradable sector. The paper shows that leaning against an appreciated exchange rate can prevent an inefficient loss of tradable output but at the cost of generating a misallocation of resources in other sectors of the economy. The paper also finds that welfare is a decreasing function of exchange rate intervention. These results suggest that stabilizing the nominal exchange rate in response to a Dutch Disease episode is highly distortionary.
The Stabilizing Effect Of The Ermon Exchange Rates And Interest Rates
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Author : Mr.Mark P. Taylor
language : en
Publisher: International Monetary Fund
Release Date : 1993-08-01
The Stabilizing Effect Of The Ermon Exchange Rates And Interest Rates written by Mr.Mark P. Taylor 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 1993-08-01 with Business & Economics categories.
This paper applies nonparametric test procedures to test for a shift in the volatility of nominal and real exchange rates for ERM members and nonmembers. The results imply a reduction in volatility for the ERM members, especially during the second half of the period of operation of the ERM. We also demonstrate that this enhanced stability was not bought at the expense of increased interest rate volatility. The issue of interest rate volatility during sterling’s participation in the ERM is also examined.
European Monetary Union
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Author : Europäisches Institut für Internationale Wirtschaftsbeziehungen
language : en
Publisher: Springer Science & Business Media
Release Date : 1997
European Monetary Union written by Europäisches Institut für Internationale Wirtschaftsbeziehungen 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 1997 with Business & Economics categories.
The EU is heading towards a monetary union which has both benefits and risks for the Community but will also affect countries outside of Europe. Crucial transition problems, economic adjustment in financial markets and labor markets as well as theoretical and empirical issues of monetary integration are analyzed. The book also focuses on interest rate effects, the role of volatility of money supply growth and exchange rate instability. Issues of monetary and fiscal policy and the political economy of monetary integration are evaluated.
Exchange Rate Volatility And Trade Flows Some New Evidence
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2004-05-19
Exchange Rate Volatility And Trade Flows Some New Evidence 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 2004-05-19 with Business & Economics categories.
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Cpb Report
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Author :
language : en
Publisher:
Release Date : 1996
Cpb Report written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Economic forecasting categories.