Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of Macroeconomic Policies: Recent Experiences of Selected Developing Latin American EconomiesPublished in 1999, this 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. The recent theoretical literature dealing with the rules vs discretion debate and its interaction with the credibility issue is reviewed. This topic is intrinsically related to the dispute over the appropriate role of exchange-rate anchors in disinflation programmes. Against a background of academic dispute between advocates of exchange-rate prescriptions and monetary conceptions, the contrasting views of different theorists regarding the choice of exchange rate regimes are presented and assessed. Finally, a comparative analysis of recent experiments in Argentina, Brazil, Chile and Mexico with exchange-rate based disinflation stabilization programmes is undertaken. The problems that have arisen while establishing new institutional arrangements, such as new currency or a policy rule for monetary base creation, are examined. |
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... STABILISATION PROGRAMMES AND COORDINATION OF MACROECONOMIC POLICIES Modern Exchange-Rate Regimes, Stabilisation Programmes and Coordination of Macroeconomic Policies.
... Stabilisation Programmes and Coordination of Macroeconomic Policies Recent experiences of selected developing Latin American economies Dr MARIA LUIZA FALCÃO SILVA Universidade de Brasília, Brazil Routledge : Taylor & Francis Group ...
... Regimes 5 The Dilemma of Selected Latin American Countries Facing Stabilisation Programmes 6 The International Financial System Concluding Remarks Bibliography Acknowledgements I express my gratitude to the many people who.
... Stabilisation Programmes (1985-1996) Figure 5.11 Brazil: Monthly Inflation and Growth (1985-1996) Figure 5.12 Brazil: Real versus Nominal Exchange Rates (Jan 1994-Jul 1997) Figure 5.13 Brazil: Quarterly Inflation and Growth (1993-1995) ...
... Stability of Growth for the G5 (1874-1938) Correlation of Growth and Inflation for the G5 Prewar and Inter-war Periods Disagreements Embodied in Stabilisation Strategies Average Annual Rates of Inflation in Selected Latin American High ...
Contents
Introduction | |
Origins and Functioning of Modern ExchangeRate Regimes | |
Systemic Asymmetries Inherent in the International | |
Monetary vs ExchangeRate Targeting | |
ExchangeRate Regimes | |
The Dilemma of Selected Latin American Countries Facing | |
The International Financial System | |
Concluding Remarks | |
Bibliography | |