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 93
... example that an increase in the capacity of an underdeveloped country to produce goods and services through foreign - held debt does not assure that it will enable the transfer problem of debt - service to take care of itself . The ...
... example that an increase in the capacity of an underdeveloped country to produce goods and services through foreign - held debt does not assure that it will enable the transfer problem of debt - service to take care of itself . The ...
Page 159
... example , set interest rate so that some measure of money supply grows at a constant rate each year . The problem is that such rules are sub - optimal : from time to time shocks occur which mean that the optimal growth rate of money ...
... example , set interest rate so that some measure of money supply grows at a constant rate each year . The problem is that such rules are sub - optimal : from time to time shocks occur which mean that the optimal growth rate of money ...
Page 258
... example , have failed to show how such institutions can overcome this problem .The analysis of the Argentina's case provides a good example about how the adoption of a strict rule , such as a quasi - currency - board arrangement was not ...
... example , have failed to show how such institutions can overcome this problem .The analysis of the Argentina's case provides a good example about how the adoption of a strict rule , such as a quasi - currency - board arrangement was not ...
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 |