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 126
... uncertainty on the future and uncertainty on other agents ' actions , agents prefer to follow the majority . The reason is the same as Keynes ' , i.e the presence of uncertainty . The difference is that Calvo and Mendoza present a ...
... uncertainty on the future and uncertainty on other agents ' actions , agents prefer to follow the majority . The reason is the same as Keynes ' , i.e the presence of uncertainty . The difference is that Calvo and Mendoza present a ...
Page 127
... 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 depends on other ...
... 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 depends on other ...
Page 149
... uncertainty would rather adopt a ' wait - and - see ' type of behaviour , in the presence of significant exchange rate fluctuations.22 The Post Keynesian approach , whilst focusing on the role of uncertainty that permeates the economy ...
... uncertainty would rather adopt a ' wait - and - see ' type of behaviour , in the presence of significant exchange rate fluctuations.22 The Post Keynesian approach , whilst focusing on the role of uncertainty that permeates the economy ...
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 |