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 3
... narrow margin pegs , or wider margin pegs , and between narrow margin pegs or group floats , rather than simply between a peg or a float . Both parts also compare the results of the linear probability model and the logit model . The ...
... narrow margin pegs , or wider margin pegs , and between narrow margin pegs or group floats , rather than simply between a peg or a float . Both parts also compare the results of the linear probability model and the logit model . The ...
Page 39
... narrow - margin 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 ...
... narrow - margin 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 ...
Page 63
... narrow - margin peggers exceeds that of identifying any other group by a substantial amount . The individual equations that were estimated in this sec- tion were clearly inferior to the equations in the last part , particularly ...
... narrow - margin peggers exceeds that of identifying any other group by a substantial amount . The individual equations that were estimated in this sec- tion were clearly inferior to the equations in the last part , particularly ...
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