Exchange Rates And Economic Policy In The 20th Century

Author : Derek H. Aldcroft
Publisher : Taylor & Francis
Page : 340 pages
File Size : 43,8 Mb
Release : 2017-07-05
Category : History
ISBN : 9781351937917

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Exchange Rates and Economic Policy in the 20th Century by Derek H. Aldcroft Pdf

The themes of this study are the exchange rate regimes chosen by policy makers in the twentieth century, the means used to maintain these regimes, and the impact of these decisions on individual national economies and the world economy in general. The book draws heavily on new research showing the lessons and the legacy left for policy makers by the gold standard and the attempt at its resurrection in the 1920s. In examining issues such as the gold exchange standard, the gold bullion standard, the experience of floating exchange rates, the Bretton Woods arrangements, the EMS and the ERM, and the Currency Board approach, there is a conscious attempt to draw out the relevance of history for policy makers now.

Author : W. Max Corden
Publisher : University of Chicago Press
Page : 335 pages
File Size : 48,7 Mb
Release : 1994
Category : Business & Economics
ISBN : 9780226115917

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Economic Policy, Exchange Rates, and the International System by W. Max Corden Pdf

This account of exchange rates in the international monetary system considers the issues in international macroeconomics. Using theoretical models of international economics it explains the effects of various policies and issues in macroeconomics.

Author : Michael D. Bordo,Owen F. Humpage,Anna J. Schwartz
Publisher : University of Chicago Press
Page : 453 pages
File Size : 50,5 Mb
Release : 2015-03-02
Category : Business & Economics
ISBN : 9780226051512

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Strained Relations by Michael D. Bordo,Owen F. Humpage,Anna J. Schwartz Pdf

During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.

Author : Derek Howard Aldcroft,Michael J. Oliver
Publisher : Unknown
Page : 232 pages
File Size : 42,5 Mb
Release : 1998
Category : Business & Economics
ISBN : STANFORD:36105023217073

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Exchange Rate Regimes in the Twentieth Century by Derek Howard Aldcroft,Michael J. Oliver Pdf

Provides an account of the evolution of exchange rate regimes in the 20th century, in chronological, non-technical format. Links between the past and present shed light on the merits of different exchange rate systems. Discusses forces that have brought about change in order to determine how different regimes affected the economic environment, considers the merits or otherwise of the respective regimes, and assesses arguments for and against fixed and floating exchange ratesAnnotation copyrighted by Book News, Inc., Portland, OR

Author : Jeffry A. Frieden
Publisher : Princeton University Press
Page : 316 pages
File Size : 51,9 Mb
Release : 2016-09-06
Category : Business & Economics
ISBN : 9780691173849

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Currency Politics by Jeffry A. Frieden Pdf

The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.

Author : C. Fred Bergsten
Publisher : Routledge
Page : 476 pages
File Size : 41,9 Mb
Release : 2017-07-28
Category : Business & Economics
ISBN : 9781315491073

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Dilemmas of the Dollar by C. Fred Bergsten Pdf

An examination of the role of the dollar in the global financial system which presents a long-term historical perspective on the international monetary system in this century. The main focus is on the evaluation of the global financial system in the post-war period.

Author : Tobias Straumann
Publisher : Unknown
Page : 415 pages
File Size : 49,7 Mb
Release : 2014-05-14
Category : Business & Economics
ISBN : 0511750218

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Fixed Ideas of Money by Tobias Straumann Pdf

"Most European countries are rather small, yet we know little about their monetary history. This book analyses for the first time the experience of seven small states (Austria, Belgium, Denmark, the Netherlands, Norway, Sweden, and Switzerland) during the last hundred years, starting with the restoration of the gold standard after World War I and ending with Sweden's rejection of the Euro in 2003. The comparative analysis shows that for the most part of the twentieth century the options of policy makers were seriously constrained by a distinct fear of floating exchange rates. Only with the crisis of the European Monetary System (EMS) in 1992-93 did the idea that a flexible exchange rate regime was suited for a small open economy gain currency. The book also analyses the differences among small states and concludes that economic structures or foreign policy orientations were far more important for the timing of regime changes than domestic institutions and policies"--

Author : Lucio Sarno,Mark P. Taylor
Publisher : Cambridge University Press
Page : 334 pages
File Size : 40,6 Mb
Release : 2003-01-09
Category : Business & Economics
ISBN : 9781139435048

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The Economics of Exchange Rates by Lucio Sarno,Mark P. Taylor Pdf

In the last few decades exchange rate economics has seen a number of developments, with substantial contributions to both the theory and empirics of exchange rate determination. Important developments in econometrics and the increasingly large availability of high-quality data have also been responsible for stimulating the large amount of empirical work on exchange rates in this period. Nonetheless, while our understanding of exchange rates has significantly improved, a number of challenges and open questions remain in the exchange rate debate, enhanced by events including the launch of the Euro and the large number of recent currency crises. This volume provides a selective coverage of the literature on exchange rates, focusing on developments from within the last fifteen years. Clear explanations of theories are offered, alongside an appraisal of the literature and suggestions for further research and analysis.

Author : C. Randall Henning
Publisher : Peterson Institute
Page : 141 pages
File Size : 48,5 Mb
Release : 2008
Category : Foreign exchange rates
ISBN : 9780881325775

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Accountability and Oversight of US Exchange Rate Policy by C. Randall Henning Pdf

Author : Lucio Sarno,Mark P. Taylor
Publisher : Cambridge University Press
Page : 334 pages
File Size : 48,9 Mb
Release : 2002
Category : Business & Economics
ISBN : 0521485843

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The Economics of Exchange Rates by Lucio Sarno,Mark P. Taylor Pdf

In the last few decades exchange rate economics has seen a number of developments, with substantial contributions to both the theory and empirics of exchange rate determination. Important developments in econometrics and the increasingly large availability of high-quality data have also been responsible for stimulating the large amount of empirical work on exchange rates in this period. Nonetheless, while our understanding of exchange rates has significantly improved, a number of challenges and open questions remain in the exchange rate debate, enhanced by events including the launch of the Euro and the large number of recent currency crises. This volume provides a selective coverage of the literature on exchange rates, focusing on developments from within the last fifteen years. Clear explanations of theories are offered, alongside an appraisal of the literature and suggestions for further research and analysis.

Author : Michael D. Bordo
Publisher : Unknown
Page : 54 pages
File Size : 49,7 Mb
Release : 2003
Category : Foreign exchange rates
ISBN : UCSD:31822032505406

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Exchange Rate Regime Choice in Historical Perspective by Michael D. Bordo Pdf

Exchange rate regime choice has evolved considerably in the past 100 years. At the beginning of the twentieth century the choice was obvious - - join the gold standard, all the advanced countries have done it. Floating exchange rates and fiat money are only for profligate countries. At the beginning of the twenty-first century, the choice is also becoming more obvious - - go to floating exchange rates, all the advanced countries have done it. Moreover in both eras, the emerging markets of the day tried to emulate the advanced countries but in many cases had great difficulties in doing so. What happened in the past century to lead to this tour de force? In this paper I survey the issue of exchange rate regime choice from the perspective of both the advanced countries and the emergers taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macro performance. The penultimate section provides a brief history of monetary regimes in advanced and emerging countries. The conclusion considers the case for managed float for today's emergers.

Author : Michael D. Bordo,Athanasios Orphanides
Publisher : University of Chicago Press
Page : 545 pages
File Size : 53,7 Mb
Release : 2013-06-28
Category : Business & Economics
ISBN : 9780226066950

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The Great Inflation by Michael D. Bordo,Athanasios Orphanides Pdf

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Author : Warner Max Corden
Publisher : Unknown
Page : 323 pages
File Size : 52,6 Mb
Release : 1994
Category : Electronic
ISBN : 0198774206

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Economic Policy, Exchange Rates and the International System by Warner Max Corden Pdf

Author : Angus Maddison,Organisation for Economic Co-operation and Development. Development Centre
Publisher : Development Centre of the Organisation for Economic Co-operation and Development ; Washington, D.C. : OECD Publications and Information Center
Page : 170 pages
File Size : 49,7 Mb
Release : 1989
Category : Business & Economics
ISBN : STANFORD:36105041027835

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The World Economy in the 20th Century by Angus Maddison,Organisation for Economic Co-operation and Development. Development Centre Pdf

Author : Charles R. Geisst
Publisher : Routledge
Page : 184 pages
File Size : 51,9 Mb
Release : 1995
Category : Business & Economics
ISBN : 0415109817

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Exchange Rate Chaos by Charles R. Geisst Pdf

The Bretton Woods system ensured a quarter of a century of relative stability on the world's financial markets. The quarter of a century which has followed has brought financial chaos and excessive financial volatility. Exchange Rate Chaos: 25 Years of Financial and Consumer Democracydescribes and compares US and British financial history during this period. It highlights: * similarites in financial developments between the two countries * consumer democracy: Have the wishes of consumers dominated exchange rate policy? * The decline of the small investor and the hegemony of financial institutions * How the floating exchange rates are manipulated to government advantage One of the few financial histories to deal with the postwar period, this book shows how financial developments have shaped contemporary society and politics.