Exchange-rate Regime Selection in Theory and PracticeSalomon Brothers Center for the Study of Financial Institutions, Graduate School of Business Administration, New York University, 1983 - Foreign exchange - 75 pages |
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Page 39
... basket peg does not differ fundamentally from the exchange - rate flexibility of a narrow- margin single currency peg . This does not imply that single currency pegs are more or less stable than basket pegs ; that is not the issue ...
... basket peg does not differ fundamentally from the exchange - rate flexibility of a narrow- margin single currency peg . This does not imply that single currency pegs are more or less stable than basket pegs ; that is not the issue ...
Page 48
Gordon Weil. vintage ) records Portugal as a narrow - margin ( basket ) ... peg for countries that actually float . Nigeria is predicted to be a pegger , yet it officially ... pegs ( NMP ) is very small indeed.7 This lack of data severely limits ...
Gordon Weil. vintage ) records Portugal as a narrow - margin ( basket ) ... peg for countries that actually float . Nigeria is predicted to be a pegger , yet it officially ... pegs ( NMP ) is very small indeed.7 This lack of data severely limits ...
Page 55
... basket pegs and single currency pegs as the general category of peggers . The pegging group is further disaggregated into SDR and other basket pegs , and dollar , French franc , and pound sterling single currency pegs . A discriminant ...
... basket pegs and single currency pegs as the general category of peggers . The pegging group is further disaggregated into SDR and other basket pegs , and dollar , French franc , and pound sterling single currency pegs . A discriminant ...
Contents
ExchangeRate | 1 |
B The ExchangeRate Regime | 15 |
Econometric Tests Results | 36 |
Copyright | |
2 other sections not shown
Common terms and phrases
adjustment mechanism adopting a pegged allocative efficiency alternative regimes argument arise balance of payments basket pegs capital mobility coefficient commodity concentration conclusion costly costs of adjustment countries currency area theories degree of exchange-rate dependent determining disturbances economists empirical equation exchange-rate adjustment exchange-rate changes exchange-rate flexibility expenditure-changing policies explanatory variable exports financial correctives financial integration fixed exchange rates fixed rates flexible exchange rates flexible exchange-rate regimes flexible rates floaters floating rates foreign exchange market geographic concentration Heller's Hence high capital mobility hypothesis imbalance independent floaters independent variables inflationary less linear probability model logit analysis logit model long run macro policies maintain external balance marginal costs micro costs monetary narrow-margin nation Nigeria number of observations optimum adjustment mix optimum currency area peggers pegging and floating Phillips curve predictions probability of adopting proxy rate regime ratio reduce regime selection resource mobility Salomon Brothers single currency pegs specific