Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of Macroeconomic Policies: Recent Experiences of Selected Developing Latin American EconomiesThis 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. |
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Page 173
... ERBSP versus MBERP . According to his work , the stylised facts emphasised in this literature are : when the stabilisation implemented is an ERBSP there is an initial output expansion followed by a contraction17 but , with MBSP , in ...
... ERBSP versus MBERP . According to his work , the stylised facts emphasised in this literature are : when the stabilisation implemented is an ERBSP there is an initial output expansion followed by a contraction17 but , with MBSP , in ...
Page 175
... ERBSP , regardless of resembling the orthodox approach described by Agénor and Montiel ( 1996 ) , differ from the old version in several ways , and present significant differences among themselves . i . ii . There are at least three ...
... ERBSP , regardless of resembling the orthodox approach described by Agénor and Montiel ( 1996 ) , differ from the old version in several ways , and present significant differences among themselves . i . ii . There are at least three ...
Page 176
... ERBSP recently implemented in Latin America , will be briefly qualified to permit a better evaluation of the differences among the programmes . As will become clear , ERBSP come in two ways : either a truly nominal fixed exchange - rate ...
... ERBSP recently implemented in Latin America , will be briefly qualified to permit a better evaluation of the differences among the programmes . As will become clear , ERBSP come in two ways : either a truly nominal fixed exchange - rate ...
Contents
Introduction | 1 |
Origins and Functioning of Modern ExchangeRate Regimes | 51 |
Systemic Asymmetries Inherent in the International | 59 |
Copyright | |
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Common terms and phrases
adjustment analysis Argentina argues argument assets Author's elaboration balance of payments band behaviour Brazil Brazilian Bretton Woods Bretton Woods system Calvo capital inflows capital mobility central bank Chapter Chile credibility crises currency boards debt deficit devaluation developing countries discretionary discussion disinflation dollar domestic currency economy effects Eichengreen equilibrium ERBSP exchange-rate arrangements exchange-rate regimes exchange-rate-based expectations experience exports external shocks Figure fixed exchange rate fixed exchange-rate flexibility floating exchange rates flows fluctuations foreign capital foreign reserves fundamentals global globalisation gold standard growth ibid implemented important increase inflation rate integration interest rates international monetary investment issue Krugman Latin American countries liberalisation long-run macroeconomic MERCOSUR Mexican crisis Mexico monetary authorities monetary base monetary policy Monetary System money supply nominal anchor overvaluation parity percent period peso policymakers problem real exchange rate rules sector short-run speculative attacks stabilisation policies stabilisation programmes stability sterilisation target target bands theorists volatility
References to this book
Vietnam's Economic Transition: Policies, Issues and Prospects Thi Nhiem Phan,Charles Harvie,Van Hoa Tran No preview available - 2006 |