Evolution and Performance of Exchange Rate Regimes:
Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis sugg...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2003
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 03/243 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility |
| Beschreibung: | 1 Online-Ressource (84 p) |
| ISBN: | 1451875843 9781451875843 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:29Z |
| indexdate | 2024-07-10T09:35:38Z |
| institution | BVB |
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| series2 | IMF Working Papers |
| spelling | Husain, Aasim M. Verfasser aut Evolution and Performance of Exchange Rate Regimes Husain, Aasim M Washington, D.C International Monetary Fund 2003 1 Online-Ressource (84 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 03/243 Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility Online-Ausg Brooks, Robin Sonstige oth Mody, Ashoka Sonstige oth Oomes, Nienke Sonstige oth Rogoff, Kenneth Sonstige oth http://elibrary.imf.org/view/IMF001/02142-9781451875843/02142-9781451875843/02142-9781451875843.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Husain, Aasim M. Evolution and Performance of Exchange Rate Regimes |
| title | Evolution and Performance of Exchange Rate Regimes |
| title_auth | Evolution and Performance of Exchange Rate Regimes |
| title_exact_search | Evolution and Performance of Exchange Rate Regimes |
| title_exact_search_txtP | Evolution and Performance of Exchange Rate Regimes |
| title_full | Evolution and Performance of Exchange Rate Regimes Husain, Aasim M |
| title_fullStr | Evolution and Performance of Exchange Rate Regimes Husain, Aasim M |
| title_full_unstemmed | Evolution and Performance of Exchange Rate Regimes Husain, Aasim M |
| title_short | Evolution and Performance of Exchange Rate Regimes |
| title_sort | evolution and performance of exchange rate regimes |
| url | http://elibrary.imf.org/view/IMF001/02142-9781451875843/02142-9781451875843/02142-9781451875843.xml |
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