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 127
... equilibrium under uncertainty is defined . The main limitation of Nash equilibrium is the assumption that each player trusts that other players will behave rationally . In some cases it is wiser to be prudent when individual choice ...
... equilibrium under uncertainty is defined . The main limitation of Nash equilibrium is the assumption that each player trusts that other players will behave rationally . In some cases it is wiser to be prudent when individual choice ...
Page 156
... equilibrium exchange rate ( FEER ) and the growth rate of nominal demand are intermediate goals to achieve external and internal equilibria . As a matter of fact , as it is observed by Davidson : Williamson's analysis also assumes the ...
... equilibrium exchange rate ( FEER ) and the growth rate of nominal demand are intermediate goals to achieve external and internal equilibria . As a matter of fact , as it is observed by Davidson : Williamson's analysis also assumes the ...
Page 285
... equilibrium in government budgets . As a matter of fact some macroeconomic convergence seems to be necessary for the stabilisation of the real exchange rate . It is doubtful whether the strong proposition of price stability and budget ...
... equilibrium in government budgets . As a matter of fact some macroeconomic convergence seems to be necessary for the stabilisation of the real exchange rate . It is doubtful whether the strong proposition of price stability and budget ...
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 |