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 199
... Inflation Rate problems . At the end of the first half of 1994 inflation had achieved the astonishing annual rate of 7000 percent , and a monthly average rate of around 43 percent . Examining carefully Figure 5.10 , below , we have an ...
... Inflation Rate problems . At the end of the first half of 1994 inflation had achieved the astonishing annual rate of 7000 percent , and a monthly average rate of around 43 percent . Examining carefully Figure 5.10 , below , we have an ...
Page 226
... inflation rate approached 15 percent . Unlike Argentina's case , there was no Law behind it but a social pact ' Pacto de Solidariedad Economica ' ( PSE ) , announced with a lot of publicity , and centred on an " incomes policy " that ...
... inflation rate approached 15 percent . Unlike Argentina's case , there was no Law behind it but a social pact ' Pacto de Solidariedad Economica ' ( PSE ) , announced with a lot of publicity , and centred on an " incomes policy " that ...
Page 241
... rate policy was directed at maintaining the economy's external competitiveness , rather than providing a nominal anchor . The rate of devaluation exceeded the inflation rate throughout the 1973-75 period , and the real effective exchange ...
... rate policy was directed at maintaining the economy's external competitiveness , rather than providing a nominal anchor . The rate of devaluation exceeded the inflation rate throughout the 1973-75 period , and the real effective exchange ...
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 |