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 71
... Brazilian exports in 1880s were of coffee with the residual accounting mainly for sugar and rubber . But the core of the Brazilian economy was coffee , produced on plantations . Coffee is a permanent culture and coffee trees have a long ...
... Brazilian exports in 1880s were of coffee with the residual accounting mainly for sugar and rubber . But the core of the Brazilian economy was coffee , produced on plantations . Coffee is a permanent culture and coffee trees have a long ...
Page 72
... Brazilian goods such that by the 1910s the US market share was around 35 percent while Britain's was only 15 percent . This trend continued in the 1920s as the US ' share approached 50 percent and the British's fell below 5 percent ...
... Brazilian goods such that by the 1910s the US market share was around 35 percent while Britain's was only 15 percent . This trend continued in the 1920s as the US ' share approached 50 percent and the British's fell below 5 percent ...
Page 81
... Brazilian experience under the gold standard , due to the respectability they have acquired through the numerous articles they have published about this topic , 31 two features of the Brazilian pre - war gold standard should be pointed ...
... Brazilian experience under the gold standard , due to the respectability they have acquired through the numerous articles they have published about this topic , 31 two features of the Brazilian pre - war gold standard should be pointed ...
Contents
Origins and Functioning of Modern ExchangeRate Regimes | 8 |
Systemic Asymmetries Inherent in the International | 59 |
Revisiting the Rules | 96 |
Copyright | |
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According analysis Argentina argued argument balance of payments Banco band behaviour Bordo Brazil Brazilian Bretton Woods system Calvo capital inflows central bank changes Chapter Chile credibility crises currency board debt deficit devaluation developing countries discretionary discussion disinflation dollar domestic currency economists economy effects Eichengreen equilibrium ERBSP exchange-rate arrangements exchange-rate policy exchange-rate regimes exchange-rate-based expectations experience exports external Figure fiscal policy fixed exchange rate fixed exchange-rate flexibility floating exchange rates flows fluctuations foreign reserves fundamentals global gold standard growth ibid implemented important increase inflation rates interest rates International Monetary Fund international monetary system investment issue Keynes Krugman Latin American countries liquidity long-run macroeconomic markets MERCOSUR Mexico monetary authorities monetary base monetary policy money supply neutral nominal anchor non-neutral overvaluation parity percent period peso policymakers Post Keynesian problem real exchange rate rules sector shocks short-run speculative attacks stabilisation programmes stability sterilisation target 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 |