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 178
... foreign reserves . Furthermore , it is important to bear in mind that these relationships are of a long - run nature in the context of fiat - money monetary systems . The direct connection between foreign reserves and monetary base that ...
... foreign reserves . Furthermore , it is important to bear in mind that these relationships are of a long - run nature in the context of fiat - money monetary systems . The direct connection between foreign reserves and monetary base that ...
Page 187
... foreign reserves . Figure 5.2 displays the evolution of the k ratio . Both figures refer to the period between April 1991 and December 1996. In both cases the concept used for foreign reserves does not include Argentinean government ...
... foreign reserves . Figure 5.2 displays the evolution of the k ratio . Both figures refer to the period between April 1991 and December 1996. In both cases the concept used for foreign reserves does not include Argentinean government ...
Page 298
... foreign reserves . The long - run coefficient of credit on reserves that was around ( -0.16 ) jumps to ( -0.8 ) . = cre , 19.64-0.7899r , -1.064 Seasonal -0.0114 trend +0.8373 sD92 : 2 -0.4912 SD94 : 6 ( 1.549 ) ( 0.2395 ) ( 0.0055 ) ...
... foreign reserves . The long - run coefficient of credit on reserves that was around ( -0.16 ) jumps to ( -0.8 ) . = cre , 19.64-0.7899r , -1.064 Seasonal -0.0114 trend +0.8373 sD92 : 2 -0.4912 SD94 : 6 ( 1.549 ) ( 0.2395 ) ( 0.0055 ) ...
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 |