Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of Macroeconomic Policies: Recent Experiences of Selected Developing Latin American EconomiesThis work analyzes the phenomenon of macroeconomic adjustment, with special emphasis on selected Latin American countries facing stabilization programmes. It provides a historical description of the origins, functioning and collapse of exchange-rate regimes from the international classical gold standard period to modern arrangements. The author supports the argument that systemic asymmetries in the worldwide adjustment mechanism are inherent in the international monetary system. |
From inside the book
Results 1-3 of 84
Page 122
... increase of the interest rate . The same thing would happen with the exchange rate . Financial Instability Hypothesis In addition to the two main aprroaches presented above , a third generation of models was developed in the late ...
... increase of the interest rate . The same thing would happen with the exchange rate . Financial Instability Hypothesis In addition to the two main aprroaches presented above , a third generation of models was developed in the late ...
Page 210
... increase in productivity during 1994/95 as can be seen in Table 5.4 . This could accommodate some appreciation of the exchange rate . Nonetheless , this increase in productivity was more than compensated for by the increase in wages ...
... increase in productivity during 1994/95 as can be seen in Table 5.4 . This could accommodate some appreciation of the exchange rate . Nonetheless , this increase in productivity was more than compensated for by the increase in wages ...
Page 244
... increase in the credit demand in the period . The time profile of real interest rates confirms the tightness of monetary policy that overshoot what might have been expected on the basis of the monetary approach to the balance of ...
... increase in the credit demand in the period . The time profile of real interest rates confirms the tightness of monetary policy that overshoot what might have been expected on the basis of the monetary approach to the balance of ...
Contents
Introduction | 1 |
Origins and Functioning of Modern ExchangeRate Regimes | 51 |
Systemic Asymmetries Inherent in the International | 59 |
Copyright | |
11 other sections not shown
Other editions - View all
Common terms and phrases
adjustment analysis Argentina argues argument assets Author's elaboration balance of payments band behaviour Brazil Brazilian Bretton Woods Bretton Woods system Calvo capital inflows capital mobility central bank Chapter Chile credibility crises currency boards debt deficit devaluation developing countries discretionary discussion disinflation dollar domestic currency economy effects Eichengreen equilibrium ERBSP exchange-rate arrangements exchange-rate regimes exchange-rate-based expectations experience exports external shocks Figure fixed exchange rate fixed exchange-rate flexibility floating exchange rates flows fluctuations foreign capital foreign reserves fundamentals global globalisation gold standard growth ibid implemented important increase inflation rate integration interest rates international monetary investment issue Krugman Latin American countries liberalisation long-run macroeconomic MERCOSUR Mexican crisis Mexico monetary authorities monetary base monetary policy Monetary System money supply nominal anchor overvaluation parity percent period peso policymakers problem real exchange rate rules sector short-run speculative attacks stabilisation policies stabilisation programmes stability sterilisation target target bands theorists volatility
References to this book
Vietnam's Economic Transition: Policies, Issues and Prospects Thi Nhiem Phan,Charles Harvie,Van Hoa Tran No preview available - 2006 |