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 110
... Discretionary policies lead to inflationary and devaluation bias , in the absence of demand shocks . iii . Indexation of wages increases the advantages of discretionary policies as long as it reduces the capacity of the government to ...
... Discretionary policies lead to inflationary and devaluation bias , in the absence of demand shocks . iii . Indexation of wages increases the advantages of discretionary policies as long as it reduces the capacity of the government to ...
Page 135
... discretionary economic policy in general , and discretionary monetary and exchange - rate policy in particular . The foundational intuition behind this recommendation is the idea that the economic system is engaged in a process through ...
... discretionary economic policy in general , and discretionary monetary and exchange - rate policy in particular . The foundational intuition behind this recommendation is the idea that the economic system is engaged in a process through ...
Page 246
... discretionary power , rigidity of objectives with flexibility of instruments , with an option for an exchange- rate band arrangement , adjusted by rules changing the central value of the band , combined with a dirty float within the ...
... discretionary power , rigidity of objectives with flexibility of instruments , with an option for an exchange- rate band arrangement , adjusted by rules changing the central value of the band , combined with a dirty float within the ...
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 |