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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... currency area litera- ture , the costs of alternative regimes are seen to depend on several specific country ... theories as important determi- nants of the costs of alternative regimes . These equations are thus tests of the optimum currency ...
... currency area litera- ture , the costs of alternative regimes are seen to depend on several specific country ... theories as important determi- nants of the costs of alternative regimes . These equations are thus tests of the optimum currency ...
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... currency area theories suggest are important in determining the costliness of alternative regimes . These variables are then used to predict ( explain ) the actual exchange- rate regime chosen by each country . This study then becomes ...
... currency area theories suggest are important in determining the costliness of alternative regimes . These variables are then used to predict ( explain ) the actual exchange- rate regime chosen by each country . This study then becomes ...
Page 3
... countries that have received attention in optimum - currency - area theories . Consideration of these theories allows the author to construct a reduced - form equation in which specific economic characteristics of countries are used as ...
... countries that have received attention in optimum - currency - area theories . Consideration of these theories allows the author to construct a reduced - form equation in which specific economic characteristics of countries are used as ...
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