Fixed or Flexible Exchange Rates? History and Perspectives

Fixed or Flexible Exchange Rates? History and Perspectives PDF

Author: Marin Muzhani

Publisher: Vernon Press

Published: 2018-03-31

Total Pages: 368

ISBN-13: 1622731778

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This book compares and contrasts flexible versus fixed exchange rate regimes. Beginning with their theoretical justifications, it showcases their observed advantages and disadvantages as they played out in the currency crises of the 1990s and early 2000s across Asia, Europe and Latin America. An analysis of the drivers and implications of these crises singles out fast-paced liberalization and globalization as having played central roles. Moreover it sheds light on some of the factors contributing to the 2008 financial crisis and the key monetary events in its aftermath. An accessible, yet rigorous discussion, supported by extensive evidence, helps readers reach their own conclusions regarding the respective merits of alternative exchange rate systems.

Exchange Rate Regime Choice in Historical Perspective

Exchange Rate Regime Choice in Historical Perspective PDF

Author: Michael D. Bordo

Publisher: International Monetary Fund

Published: 2003-08-01

Total Pages: 29

ISBN-13: 1451857764

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In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today's emerging economies.

Swiss Monetary History since the Early 19th Century

Swiss Monetary History since the Early 19th Century PDF

Author: Ernst Baltensperger

Publisher: Cambridge University Press

Published: 2017-08-03

Total Pages: 267

ISBN-13: 1108191444

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This book describes the remarkable path which led to the Swiss Franc becoming the strong international currency that it is today. Ernst Baltensperger and Peter Kugler use Swiss monetary history to provide valuable insights into a number of issues concerning the organization and development of monetary institutions and currency that shaped the structure of financial markets and affected the economic course of a country in important ways. They investigate a number of topics, including the functioning of a world without a central bank, the role of competition and monopoly in money and banking, the functioning of monetary unions, monetary policy of small open economies under fixed and flexible exchange rates, the stability of money demand and supply under different monetary regimes, and the monetary and macroeconomic effects of Swiss Banking and Finance. Swiss Monetary History since the Early 19th Century illustrates the value of monetary history for understanding financial markets and macroeconomics today.

Evolution and Performance of Exchange Rate Regimes

Evolution and Performance of Exchange Rate Regimes PDF

Author: Mr.Kenneth Rogoff

Publisher: International Monetary Fund

Published: 2003-12-01

Total Pages: 85

ISBN-13: 1451875843

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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.

Flexible Exchange Rates/h

Flexible Exchange Rates/h PDF

Author: Jan Herin

Publisher: Routledge

Published: 2019-03-12

Total Pages: 280

ISBN-13: 0429708165

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This book contains the papers, comments, and the discussion at a conference on "Flexible Exchange Rates and Stabilization Policy", held at Saltsjobaden, Stockholm, August 26–27, 1975. The papers integrate the flexible exchange rates theory with macro theory and stabilization policy analysis. .

Exchange Rate Economics

Exchange Rate Economics PDF

Author: Ronald MacDonald

Publisher: Routledge

Published: 2005

Total Pages: 334

ISBN-13: 1134838220

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''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""

Exchange Rate Forecasting: Techniques and Applications

Exchange Rate Forecasting: Techniques and Applications PDF

Author: I. Moosa

Publisher: Springer

Published: 2016-02-05

Total Pages: 420

ISBN-13: 0230379001

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Forecasting exchange rates is a variable that preoccupies economists, businesses and governments, being more critical to more people than any other variable. In Exchange Rate Forecasting the author sets out to provide a concise survey of the techniques of forecasting - bringing together the various forecasting methods and applying them to the exchange rate in a highly accessible and readable manner. Highly practical in approach, the book provides an understanding of the techniques of forecasting with an emphasis on its applications and use in business decision-making, such as hedging, speculation, investment, financing and capital budgeting. In addition, the author also considers recent developments in the field, notably neural networks and chaos, again, with easy-to-understand explanations of these "rocket science" areas. The practical approach to forecasting is also reflected in the number of examples that pepper the text, whilst descriptions of some of the software packages that are used in practice to generate forecasts are also provided.

Exchange Rate Economics

Exchange Rate Economics PDF

Author: Peter Isard

Publisher: Cambridge University Press

Published: 1995-09-28

Total Pages: 298

ISBN-13: 9780521466004

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This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key issues that policymakers confront in deciding whether, and how, to try to stabilize exchange rates. The treatment of most topics is reasonably compact, with extensive references to the literature for those desiring to pursue individual topics further. The level of exposition is relatively easy to comprehend; the historical and institutional material (part I) and the discussion of policy issues (part III) contain no equations or technical notation, while the chapters on models of exchange rate behavior (part II) are written at a level intelligible to first-year graduate students or advanced undergraduates. The book will enlighten both students and policymakers, and should also serve as a valuable reference for many research economists.

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