Exchange-rate policy in emerging-market economies: the case for floating
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Princeton, NJ
Internat. Economics Sect., Dep. of Economics, Princeton Univ.
2001
|
| Series: | Essays in international economics
224 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | 50 S. graph. Darst. |
| ISBN: | 0881651311 |
Staff View
MARC
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Record in the Search Index
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| adam_text | CONTENTS
1 INTRODUCTION 1
2 HARD PEGS: ADVANTAGES, PREREQUISITES, AND PITFALLS 5
The Credibility Argument 5
The Discipline Argument 9
Prerequisites for Adoption 10
Pegging to the Right Currency 12
Beyond Currency Boards: Is There a Case for Dollarization? 13
Strategic Considerations 15
Are Monetary Unions an Alternative? 16
Credibility and Inflation 17
3 SHOCKS, INSULATION, AND FLEXIBLE EXCHANGE RATES 22
Indexation, Pass Through, and the Effectiveness of Nominal
Depreciations 23
Interest Rate Volatility and Monetary Independence 26
Is Devaluation Contractionary? 27
4 FINANCIAL FRAGILITY AND EXCHANGE RATE POLICY 29
Bank Runs and the Fixed Flex Choice 29
Dollari/.ation of Liabilities 31
Is Expansionary Monetary Policy Really Expansionary? 33
5 FLEXIBLE EXCHANGE RATES AND MONETARY POLICY IN PRACTICE 34
Nominal Anchors and Inflation Targets 35
Dealing with Short Term Exchange Rate Fluctuations 36
Dealing with Long Swings in the Exchange Rate 36
Crafting Monetary Policy 38
6 CONCLUSIONS 39
REFERENCES 40
TABLES
1 Officially Reported Exchange Rate Arrangements of Developing
Countries 3
2 Ratio of M2 to Nongold Foreign Exchange Reserves 7
3 Real Lending Rates 9
4 Inflation in Developing Countries 20
5 Inflation Performance under Hard Pegs and Flexible Rates 21
6 Real Performance under Hard Pegs and Flexible Rates 28
FIGURE
1 Sovereign Spread Differentials between Argentina and Mexico,
1995 2001 8
|
| any_adam_object | 1 |
| author | Larraín Bascuñán, Felipe Velasco, Andrés 1960- |
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| dewey-search | 332.4/56/091724 332/.042 |
| dewey-sort | 3332.4 256 591724 |
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| discipline | Wirtschaftswissenschaften |
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| geographic_facet | Entwicklungsländer |
| id | DE-604.BV014149897 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:58:33Z |
| institution | BVB |
| isbn | 0881651311 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-009697594 |
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| physical | 50 S. graph. Darst. |
| publishDate | 2001 |
| publishDateSearch | 2001 |
| publishDateSort | 2001 |
| publisher | Internat. Economics Sect., Dep. of Economics, Princeton Univ. |
| record_format | marc |
| series | Essays in international economics |
| series2 | Essays in international economics |
| spelling | Larraín Bascuñán, Felipe Verfasser (DE-588)114514445 aut Exchange-rate policy in emerging-market economies the case for floating Felipe Larrain B. and Andrés Velasco Princeton, NJ Internat. Economics Sect., Dep. of Economics, Princeton Univ. 2001 50 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Essays in international economics 224 Monetaire politiek gtt Taux de change - Pays en voie de développement Wisselkoersen gtt Entwicklungsländer Foreign exchange rates -- Developing countries Emerging Market (DE-588)4398432-0 gnd rswk-swf Wechselkurspolitik (DE-588)4131291-0 gnd rswk-swf Flexibler Wechselkurs (DE-588)4017520-0 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 g Wechselkurspolitik (DE-588)4131291-0 s DE-604 Emerging Market (DE-588)4398432-0 s Flexibler Wechselkurs (DE-588)4017520-0 s DE-188 Velasco, Andrés 1960- Verfasser (DE-588)128797126 aut Essays in international economics 224 (DE-604)BV013520366 224 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009697594&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Larraín Bascuñán, Felipe Velasco, Andrés 1960- Exchange-rate policy in emerging-market economies the case for floating Essays in international economics Monetaire politiek gtt Taux de change - Pays en voie de développement Wisselkoersen gtt Entwicklungsländer Foreign exchange rates -- Developing countries Emerging Market (DE-588)4398432-0 gnd Wechselkurspolitik (DE-588)4131291-0 gnd Flexibler Wechselkurs (DE-588)4017520-0 gnd |
| subject_GND | (DE-588)4398432-0 (DE-588)4131291-0 (DE-588)4017520-0 (DE-588)4014954-7 |
| title | Exchange-rate policy in emerging-market economies the case for floating |
| title_auth | Exchange-rate policy in emerging-market economies the case for floating |
| title_exact_search | Exchange-rate policy in emerging-market economies the case for floating |
| title_full | Exchange-rate policy in emerging-market economies the case for floating Felipe Larrain B. and Andrés Velasco |
| title_fullStr | Exchange-rate policy in emerging-market economies the case for floating Felipe Larrain B. and Andrés Velasco |
| title_full_unstemmed | Exchange-rate policy in emerging-market economies the case for floating Felipe Larrain B. and Andrés Velasco |
| title_short | Exchange-rate policy in emerging-market economies |
| title_sort | exchange rate policy in emerging market economies the case for floating |
| title_sub | the case for floating |
| topic | Monetaire politiek gtt Taux de change - Pays en voie de développement Wisselkoersen gtt Entwicklungsländer Foreign exchange rates -- Developing countries Emerging Market (DE-588)4398432-0 gnd Wechselkurspolitik (DE-588)4131291-0 gnd Flexibler Wechselkurs (DE-588)4017520-0 gnd |
| topic_facet | Monetaire politiek Taux de change - Pays en voie de développement Wisselkoersen Entwicklungsländer Foreign exchange rates -- Developing countries Emerging Market Wechselkurspolitik Flexibler Wechselkurs |
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| volume_link | (DE-604)BV013520366 |
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