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. |
From inside the book
Results 1-3 of 71
Page 17
... stability implies , to a certain extent , price - level co - movements . It is also evident , that price stability would depend ultimately on the supply of gold and could be subjected to the ' hazard of mining ' . Sterling became more ...
... stability implies , to a certain extent , price - level co - movements . It is also evident , that price stability would depend ultimately on the supply of gold and could be subjected to the ' hazard of mining ' . Sterling became more ...
Page 18
... stability in the former group and to instability in the latter . In other words , the idea is that the centre could and did , in fact , export instability to the periphery . The question is therefore one of how did the adjustment ...
... stability in the former group and to instability in the latter . In other words , the idea is that the centre could and did , in fact , export instability to the periphery . The question is therefore one of how did the adjustment ...
Page 55
... stability depends on the elasticity of the supply of gold , on one hand , and on the constancy of the productivity of the mine , i.e the stability of the parameter μ . This model is developed in Eagly ( 1974 ) . The major countries ...
... stability depends on the elasticity of the supply of gold , on one hand , and on the constancy of the productivity of the mine , i.e the stability of the parameter μ . This model is developed in Eagly ( 1974 ) . The major countries ...
Contents
Origins and Functioning of Modern ExchangeRate Regimes | 8 |
Systemic Asymmetries Inherent in the International | 59 |
Revisiting the Rules | 96 |
Copyright | |
4 other sections not shown
Other editions - View all
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 |