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 38
... peggers maintain their exchange rates within a margin less than ± 2.5 % of their central rate . ( Seventy - one percent of all countries in this group are single currency peggers . ) ( b ) Wider margin peggers maintain margins greater ...
... peggers maintain their exchange rates within a margin less than ± 2.5 % of their central rate . ( Seventy - one percent of all countries in this group are single currency peggers . ) ( b ) Wider margin peggers maintain margins greater ...
Page 47
... peggers and floaters are properly placed . The logit model correctly places 84 % of the nations in the sample , while 90 % of the clear - cut peggers and floaters are correctly placed . The only real difference produced by the two ...
... peggers and floaters are properly placed . The logit model correctly places 84 % of the nations in the sample , while 90 % of the clear - cut peggers and floaters are correctly placed . The only real difference produced by the two ...
Page 56
... peggers to estimate his discriminant function between peggers and floaters . The next step is to use this estimated function to calculate the discriminant scores for group floaters and crawlers . The third step in the analysis is to ...
... peggers to estimate his discriminant function between peggers and floaters . The next step is to use this estimated function to calculate the discriminant scores for group floaters and crawlers . The third step in the analysis is to ...
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