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 17
... period displays two different halves . The first one , that ends by 1889 , presents a deflation followed by an inflationary period . The stability of price was obtained in the first period by a shortage of liquidity . " This is ...
... period displays two different halves . The first one , that ends by 1889 , presents a deflation followed by an inflationary period . The stability of price was obtained in the first period by a shortage of liquidity . " This is ...
Page 18
... period 1880-1914 . The major devaluations of the period were those of Portugal , Argentina , Italy , Chile , Bulgaria and Mexico . Exchange- rate stability did not extend to China , El Salvador or Honduras , which remained on silver and ...
... period 1880-1914 . The major devaluations of the period were those of Portugal , Argentina , Italy , Chile , Bulgaria and Mexico . Exchange- rate stability did not extend to China , El Salvador or Honduras , which remained on silver and ...
Page 37
... period before . Rapid output growth and rising living standards helped to support the post - war institutions . The rate of growth was impressive as well as price stability . During the first half of the period , full convertibility of ...
... period before . Rapid output growth and rising living standards helped to support the post - war institutions . The rate of growth was impressive as well as price stability . During the first half of the period , full convertibility of ...
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 |