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 35
... dollar . Exchange rates would be pegged within one percent bands and controls on current account transactions should be removed , countries would be able to change the par value of their currencies to correct fundamental disequilibria ...
... dollar . Exchange rates would be pegged within one percent bands and controls on current account transactions should be removed , countries would be able to change the par value of their currencies to correct fundamental disequilibria ...
Page 38
... dollar and indirectly to gold . Until the mid - 1960s , however , capital controls prevailed in most countries in one form or another . The system evolved into a gold - dollar system . The role of the pound as a private vehicle currency ...
... dollar and indirectly to gold . Until the mid - 1960s , however , capital controls prevailed in most countries in one form or another . The system evolved into a gold - dollar system . The role of the pound as a private vehicle currency ...
Page 41
... dollars rising , the issue moved from dollar shortage to how to solve the problem of dollar ' glut ' . " The question raised was about the process through which this different kind of disequilibrium , the dollar surplus , should be ...
... dollars rising , the issue moved from dollar shortage to how to solve the problem of dollar ' glut ' . " The question raised was about the process through which this different kind of disequilibrium , the dollar surplus , should be ...
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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Common terms and phrases
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 |