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 17
... exogenous character of the gold supply was a strong disciplinary device . It is important to note that the practice of demand management through fiscal deficit was unknown at the time . Mismanagement of the budget tended to be curtailed ...
... exogenous character of the gold supply was a strong disciplinary device . It is important to note that the practice of demand management through fiscal deficit was unknown at the time . Mismanagement of the budget tended to be curtailed ...
Page 118
... exogenous flow of government income like , for instance , transfers from abroad , and z , is the random flow of government spending . The assumption is that zis a random variable with mean and variance o2 . Finally , x , represents the ...
... exogenous flow of government income like , for instance , transfers from abroad , and z , is the random flow of government spending . The assumption is that zis a random variable with mean and variance o2 . Finally , x , represents the ...
Page 233
... exogenous shocks . 63 However , it has been argued that the " in fact the mild increase in exchange - rate - policy flexibility , after November 1992 may have contributed to the progressive loss of credibility " ( Edwards , 1996 , p ...
... exogenous shocks . 63 However , it has been argued that the " in fact the mild increase in exchange - rate - policy flexibility , after November 1992 may have contributed to the progressive loss of credibility " ( Edwards , 1996 , p ...
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 |