Exchange-rate Regime Selection in Theory and PracticeSalomon Brothers Center for the Study of Financial Institutions, Graduate School of Business Administration, New York University, 1983 - Foreign exchange - 75 pages |
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Page 24
... balance of payments . When the requirement of maintaining long run balance of payments equilibrium , the commitment to maintaining a fixed exchange rate , and the desire to pursue macro policies aimed at attaining domestic target rates ...
... balance of payments . When the requirement of maintaining long run balance of payments equilibrium , the commitment to maintaining a fixed exchange rate , and the desire to pursue macro policies aimed at attaining domestic target rates ...
Page 29
... balance - of - payments " crisis ; " and crises are to be avoided at all ( ? ) costs . But an exchange - rate depreciation under floating rates does not constitute a crisis situation ; hence , monetary discipline is relaxed . However ...
... balance - of - payments " crisis ; " and crises are to be avoided at all ( ? ) costs . But an exchange - rate depreciation under floating rates does not constitute a crisis situation ; hence , monetary discipline is relaxed . However ...
Page 67
... Balance of Payments : A Survey , Studies in International Finance No. 43 , Princeton University , Interna- tional Finance Section , 1978 . Kruger , Ann O. , " Balance of Payments Theory , " Journal of Economic Literature , 1 ( March ...
... Balance of Payments : A Survey , Studies in International Finance No. 43 , Princeton University , Interna- tional Finance Section , 1978 . Kruger , Ann O. , " Balance of Payments Theory , " Journal of Economic Literature , 1 ( March ...
Contents
ExchangeRate | 1 |
B The ExchangeRate Regime | 15 |
Econometric Tests Results | 36 |
Copyright | |
2 other sections not shown
Common terms and phrases
adjustment mechanism adopting a pegged allocative efficiency alternative regimes argument arise balance of payments basket pegs capital mobility coefficient commodity concentration conclusion costly costs of adjustment countries currency area theories degree of exchange-rate dependent determining disturbances economists empirical equation exchange-rate adjustment exchange-rate changes exchange-rate flexibility expenditure-changing policies explanatory variable exports financial correctives financial integration fixed exchange rates fixed rates flexible exchange rates flexible exchange-rate regimes flexible rates floaters floating rates foreign exchange market geographic concentration Heller's Hence high capital mobility hypothesis imbalance independent floaters independent variables inflationary less linear probability model logit analysis logit model long run macro policies maintain external balance marginal costs micro costs monetary narrow-margin nation Nigeria number of observations optimum adjustment mix optimum currency area peggers pegging and floating Phillips curve predictions probability of adopting proxy rate regime ratio reduce regime selection resource mobility Salomon Brothers single currency pegs specific