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 5
... adjustment measure , financial correctives do have a useful role to play . Hence financial correctives are included along with real adjustment in the general category of adjustment ... Adjustment: General Review The Optimum Adjustment Mix.
... adjustment measure , financial correctives do have a useful role to play . Hence financial correctives are included along with real adjustment in the general category of adjustment ... Adjustment: General Review The Optimum Adjustment Mix.
Page 6
... adjustment policies are compared , a full account- ing should consider costs that are policy specific , as well as costs common to both policies . 4 The notion of an optimum adjustment mix as defined above leads , through standard ...
... adjustment policies are compared , a full account- ing should consider costs that are policy specific , as well as costs common to both policies . 4 The notion of an optimum adjustment mix as defined above leads , through standard ...
Page 12
... optimum adjustment mix . Therefore , any nation attempting to select the optimum adjustment mix to counter each disturbance will want the freedom afforded by such a regime to alter its policies ... Adjustment Mix to the Exchange-Rate Regime.
... optimum adjustment mix . Therefore , any nation attempting to select the optimum adjustment mix to counter each disturbance will want the freedom afforded by such a regime to alter its policies ... Adjustment Mix to the Exchange-Rate Regime.
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