Last edited by Kikree
Saturday, July 18, 2020 | History

4 edition of Exchange Rate Regimes and Macroeconomic Stability found in the catalog.

Exchange Rate Regimes and Macroeconomic Stability

  • 296 Want to read
  • 25 Currently reading

Published by Springer .
Written in English

    Subjects:
  • Macroeconomics,
  • Economic stabilization,
  • Money & Monetary Policy,
  • Business & Economics,
  • Business / Economics / Finance,
  • Financial crises,
  • Business/Economics,
  • Finance,
  • Economics - General,
  • Economics - Macroeconomics,
  • Public Finance,
  • Business & Economics / Macroeconomics,
  • Monetary Policy,
  • Asia,
  • Congresses

  • Edition Notes

    ContributionsLok Sang Ho (Editor), Chi-Wa Yuen (Editor)
    The Physical Object
    FormatHardcover
    Number of Pages268
    ID Numbers
    Open LibraryOL8372522M
    ISBN 101402072872
    ISBN 109781402072871

      Third, a country's economic growth and financial stability impact its currency exchange rates. If the country has a strong, growing economy, then investors will buy its goods and services. They'll need more of its currency to do so. If the financial stability looks bad, they will be less willing to invest in that country. Figure 1. A Spectrum of Exchange Rate Policies. A nation may adopt one of a variety of exchange rate regimes, from floating rates in which the foreign exchange market determines the rates to pegged rates where governments intervene to manage the value of the exchange rate, to a common currency where the nation adopts the currency of another country or group of countries.

    If both currencies in an exchange rate are freely traded in foreign exchange markets, you refer to changes in this exchange rate as depreciation or appreciation. If $ changes to $ per euro, this indicates depreciation of the dollar (appreciation of the euro). 10 Friedman’s argument that a floating exchange rate system allows national policymakers to be democratically accountable is almost always overlooked in the literature on exchange rate regimes.

    The impossible trinity (also known as the trilemma) is a concept in international economics which states that it is impossible to have all three of the following at the same time. a fixed foreign exchange rate; free capital movement (absence of capital controls); an independent monetary policy; It is both a hypothesis based on the uncovered interest rate parity condition, and a finding from. The exchange rate between two currencies may be determined in international foreign exchange markets or in a government office. If an exchange rate — say, the yen–dollar rate — is determined in international foreign exchange markets based on the demand for and supply of the yen, then the markets determine the exchange rate. This situation [ ].


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Exchange Rate Regimes and Macroeconomic Stability Download PDF EPUB FB2

Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists.

This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic : Hardcover.

Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists.

This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability.

This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic by: 7.

Recommending a Currency Basket System for Emerging East Asia; M. Kawai. Part 2: Monetary Policy, Exchange Rate Regimes, and Macroeconomic Stability. A Comparative Analysis of Exchange Rate Regimes; N.

Yoshino, et al. Bringing about Realistic Exchange Rates: A Post-Asian Financial Crisis Perspective; Lok Sang Ho. tive exchange rate regimes is interesting, because it provides answers to questions such as: 1. How important is the exchange rate regime for macroeconomic stability, is the development about the same under the three regimes or does it substantially deviate between different exchange rate regimes.

The panel estimations for the period between and show that de facto measures of exchange rate stability have a better explanatory power than the de jure measures in the inflation and growth equations.

For the whole observation period the estimations reveal a significant impact of exchange rate stability on low inflation as well as a Cited by: Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe This paper explores the impact of the exchange rate regime on inflation and output in the Central and Eastern European (CEE) EU candidate countries.

Handbook of Exchange Rates is an essential reference for fund managers and investors as well as practitioners and researchers working in finance, banking, business, and econometrics.

The book also serves as a valuable supplement for courses on economics, business, and international finance at the upper-undergraduate and graduate levels. Cirera, Xavier, "Essays on exchange rate regimes and macroeconomic stability in central and eastern and Baltic countries," Economics PhD ThesesDepartment of Economics, University of Sussex Business : RePEc:sus:susphdAuthor: Xavier Cirera.

The choice and management of an exchange rate regime is a critical aspect of economic management to safeguard competitiveness, macroeconomic stability, and sustainable development. The paper reviews the stability of the overall system of exchange rates by examining macroeconomic performance (inflation, growth, crises) under alternative exchange rate regimes; implications of exchange rate regime choice for interaction with the rest of the system (external adjustment, trade integration, capital flows); and potential sources.

Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. 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.

The Effect of Exchange Rate on Economic Growth. as foreign exchange rate regimes are considered should devalue the Naira in order to not only restore exchange rate stability but also Author: Suna Korkmaz. Macroeconomic Stability in Developing Countries: monetary and exchange rate policies across the developing world, and the effectiveness exchange rate regime that avoids persistent under- or over-valuation of the currency as well as excessive volatility of the real exchange Size: KB.

There are many theories of how economies behave under different exchange-rate regimes. This book provides the facts—a comprehensive analysis of macroeconomic performance under various types of exchange-rate regimes.

This book will contribute enormously to the policy debate. The relation between the exchange rate regime and output volatility is also a channel with a long tradition in international finance, and one of the key links underlying the debate on optimal currency areas.

It involves understanding the role played by the exchange rate as shock absorbers: under floating exchange rates, the economy has a greater ability to adjust to “real” external shocks. A Review of the Theoretical and Empirical Literature Marjan Petreski Staffordshire University Abstract The aim of this paper is to examine the theoretical and empirical arguments for the relationship between the exchange-rate regime and economic growth.

As a nominal variable, the exchange rate (regime) might not affect the long-run economic growth. The results show that the choice of exchange rate regime does influence macroeconomic stability. More precisely, output volatility under the actual exchange rate regime is about the same as under the hypothetical floating exchange rate regime, but output is substantially more volatile under the hypothetical fixed exchange rate regimes.

In Chapter 2, Chorng-Huey Wong reviews the design of macroeconomic adjustment programs in the context of a framework for determining the mix of monetary, fiscal, and exchange rate policies for restoring economic balance.

Wong explains that both internal balance and external balance depend on two fundamental variables--the level of real domestic. Abstract. This paper discusses exchange rate rules in their role as macroeconomic instruments.

We abstract throughout from the trend part of exchange rate behaviour — a crawling peg necessitated by differences in trend inflation — and emphasise instead the implications of exchange rate rules in providing flexibility of real wages or in affecting the stability of output or by: An empirical study of exchange rate regimes based on data compiled from member countries of the International Monetary Fund over the past thirty years.

Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early s, countries have adopted a wide variety of regimes, ranging from pure.This book deals with the genesis and dynamics of exchange rate crises in fixed or managed exchange rate systems.

It provides a comprehensive treatment of the existing theories of exchange rate crises and of financial market runs. It aims to provide a survey of both the theoretical literature on international financial crises and a systematic treatment of the analytical models.