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 123
... arguments . Krugman's scenario is sufficient to produce a financial crisis . Calvo and Mendoza's , on the other hand ... argument , for instance , has been that money mismanagement leads to fluctuations . The interesting issue has to do ...
... arguments . Krugman's scenario is sufficient to produce a financial crisis . Calvo and Mendoza's , on the other hand ... argument , for instance , has been that money mismanagement leads to fluctuations . The interesting issue has to do ...
Page 124
... argument is striking . Financial intermediation leads the way through credit to excessive expansion in the boom period . What is the difference between the two arguments ? Again a distinction could be made on the basis of the notion of ...
... argument is striking . Financial intermediation leads the way through credit to excessive expansion in the boom period . What is the difference between the two arguments ? Again a distinction could be made on the basis of the notion of ...
Page 144
... argument for floating exchange rates , and for the fact that exchange - rate markets are better arenas for adjustment . According to this argument , the maintenance of the Bretton Woods system of fixed rates would have created an even ...
... argument for floating exchange rates , and for the fact that exchange - rate markets are better arenas for adjustment . According to this argument , the maintenance of the Bretton Woods system of fixed rates would have created an even ...
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 |