The Dollar and the Exchange Rate System
Author: United States. Congress. Joint Economic Committee. Subcommittee on Economic Goals and Intergovernmental Policy
Publisher:
Published: 1986
Total Pages: 108
ISBN-13:
DOWNLOAD EBOOK →Author: United States. Congress. Joint Economic Committee. Subcommittee on Economic Goals and Intergovernmental Policy
Publisher:
Published: 1986
Total Pages: 108
ISBN-13:
DOWNLOAD EBOOK →Author: John Williamson
Publisher:
Published: 1983
Total Pages: 112
ISBN-13:
DOWNLOAD EBOOK →Now available directly from: IIE 11 Dupont Circle, NW Washington, DC 20036 Tel: (202) 328-9000 This book examines the system of flexible exchange rates, estimating misalignments of major currencies and analyzing costs and benefits of volatility and deviations from equilibrium. It considers target zones, reference rates, and other alternatives for stabilizing the system.
Author: Laurence Krause
Publisher: Routledge
Published: 2019-07-11
Total Pages: 314
ISBN-13: 1000312895
DOWNLOAD EBOOK →I began serious consideration of the issues and subject matter that comprise this book as a graduate student at the University of Massachusetts at Amherst. In need of a dissertation topic and vaguely curious about international monetary economics, I decided to sit in on Leonard Rapping's undergraduate course on international finance. Needless to say, I was soon hooked. Within several months I was teaching my own course on international money and beginning to write an outline of what would become my doctoral dissertation on foreign exchange speculation. Once completed the dissertation thesis became this basis for this book.
Author: Anthony Elson
Publisher: Springer Nature
Published: 2021-09-15
Total Pages: 205
ISBN-13: 3030835197
DOWNLOAD EBOOK →This book explains how the US dollar serves as the primary reserve currency for the international financial system and assesses its prospects for the future. The book provides an analysis of the main factors that have given rise to the global currency power of the dollar and the key benefits that have accrued to both the United States and other countries from this arrangement. It then considers the growing costs that can be associated with the dollar-centered reserve system and the prospects for the medium-term in terms of its potential threats to global financial stability. In the light of these considerations, the book examines three alternative currency arrangements that could address some or all of the defects associated with the global currency power of the dollar. These include a shift to a multi-reserve currency system, an enhancement of the IMF’s role as an international lender of last resort and provider of global “safe” assets, and the introduction of central bank digital currencies. "A cogent, persuasive and timely look at the dollar's power." Kirkus Reviews
Author: Jane Sneddon Little
Publisher: University Press of the Pacific
Published: 1999
Total Pages: 304
ISBN-13:
DOWNLOAD EBOOK →According to a recent World Bank study, the Asian crisis led to a significant rise in poverty and sharp declines in middle-class living standards in the countries most affected. Real public spending on health and education fell, with poor households experiencing the largest declines in access to these services. The impact of decreased investment in human capital will have consequences for individuals and whole societies for years to come. Because these external shocks occurred very shortly after these countries had liberalized their capital markets, they have engendered a growing distrust of globalization in many parts of the world. We owe it to the people of the developing countries, as well as to ourselves, to consider how institutional or policy changes could moderate such setbacks in the future. For all these reasons, this conference seemed a good time to pause and consider the implications of recent events, institutional changes, and new research for the evolution of the international monetary system. Representing frontline countries and frontline institutions, many of the conference participants had struggled firsthand with the dilemmas posed by the recent crises. Thus, they brought unique perspectives on the issues and offered thoughtful observations and useful ideas that could improve the workings of the international monetary system. It is our hope that this publication of their views will stimulate further discussion, research and, more than partial implementation.
Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy
Publisher:
Published: 1984
Total Pages: 144
ISBN-13:
DOWNLOAD EBOOK →Author: Camila Casas
Publisher: International Monetary Fund
Published: 2017-11-22
Total Pages: 62
ISBN-13: 1484330609
DOWNLOAD EBOOK →Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Author: C. Fred Bergsten
Publisher: M.E. Sharpe
Published: 1996
Total Pages: 620
ISBN-13: 9780873326001
DOWNLOAD EBOOK →An examination of the role of the dollar in the global financial system which presents a long-term historical perspective on the international monetary system in this century. The main focus is on the evaluation of the global financial system in the post-war period.
Author: Ronald I. McKinnon
Publisher: Princeton, N.J. : International Finance Section, Department of Economics, Princeton University
Published: 1969
Total Pages: 46
ISBN-13:
DOWNLOAD EBOOK →Author: John Williamson
Publisher: Columbia University Press
Published: 2007-04-30
Total Pages: 104
ISBN-13: 0881324795
DOWNLOAD EBOOK →Growing global imbalances threaten to induce a collapse of the dollar, which could in turn produce a severe recession in the rest of the world. This crisis could force countries to say "never again" and search for a system to prevent similar disasters. The system that could do so is a reference rate system—where countries' authorities are forbidden from intervening in order to push the exchange rate too far from what is termed the "reference rate." It could help a country's authorities manage its exchange rate to avoid large misalignments, assist the private sector in forming more dependable expectations of future exchange rates and thus to manage their businesses more efficiently in a world of floating exchange rates, and aid the International Monetary Fund in designing and managing an effective system of multilateral surveillance. The world economy would function better as a result, with less chance of the global imbalances leading to a world recession.