Limits Of Floating Exchange Rates

Author : Mr.Sebastian Weber,Pascal Towbin
Publisher : International Monetary Fund
Page : 53 pages
File Size : 54,8 Mb
Release : 2011-02-01
Category : Business & Economics
ISBN : 9781455219001

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Limits of Floating Exchange Rates by Mr.Sebastian Weber,Pascal Towbin Pdf

A traditional argument in favor of flexible exchange rates is that they insulate output better from real shocks, because the exchange rate can adjust and stabilize demand for domestic goods through expenditure switching. This argument is weakened in models with high foreign currency debt and low exchange rate pass-through to import prices. The present study evaluates the empirical relevance of these two factors. We analyze the transmission of real external shocks to the domestic economy under fixed and flexible exchange rate regimes for a broad sample of countries in a Panel VAR and let the responses vary with foreign currency indebtedness and import structure. We find that flexible exchange rates do not insulate output better from external shocks if the country imports mainly low pass-through goods and can even amplify the output response if foreign indebtedness is high.

Author : David Bigman,Teizo Taya
Publisher : Cambridge, Mass. : Ballinger
Page : 460 pages
File Size : 47,8 Mb
Release : 1980
Category : Business & Economics
ISBN : UOM:39015011686881

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The Functioning of Floating Exchange Rates by David Bigman,Teizo Taya Pdf

Author : Mrs.Gilda Fernandez,Mr.Cem Karacadag,Rupa Duttagupta
Publisher : International Monetary Fund
Page : 29 pages
File Size : 40,8 Mb
Release : 2006-01-09
Category : Business & Economics
ISBN : 9781589064768

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Moving to a Flexible Exchange Rate by Mrs.Gilda Fernandez,Mr.Cem Karacadag,Rupa Duttagupta Pdf

A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary independence. Other countries have made the transition under disorderly conditions, with the sharp depreciation of their currency during a crisis. Regardless of the reason for adopting a flexible exchange rate, a successful transition depends on the effective management of a number of institutional and operational issues. The authors of this Economic Issue describe the necessary ingredients for moving to a flexible regime, as well as the optimal pace and sequencing under different conditions.

Author : Raymond Frech Mikesell,Henry N. Goldstein
Publisher : Unknown
Page : 40 pages
File Size : 43,9 Mb
Release : 1975
Category : Business & Economics
ISBN : UVA:X000237072

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Rules for a Floating-rate Regime by Raymond Frech Mikesell,Henry N. Goldstein Pdf

Author : Mrs.Gilda Fernandez,Mr.Cem Karacadag,Rupa Duttagupta
Publisher : International Monetary Fund
Page : 40 pages
File Size : 45,8 Mb
Release : 2004-07-01
Category : Business & Economics
ISBN : 9781451854930

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From Fixed to Float by Mrs.Gilda Fernandez,Mr.Cem Karacadag,Rupa Duttagupta Pdf

This paper identifies the institutional and operational requisites for transitions to floating exchange rate regimes. In particular, it explores key issues underlying the transition, including developing a deep and liquid foreign exchange market, formulating intervention policies consistent with the new regime, establishing an alternative nominal anchor in the context of a new monetary policy framework, and building the capacity of market participants to manage exchange rate risks and of supervisory authorities to regulate and monitor them. It also assesses the factors that influence the pace of exit and the appropriate sequencing of exchange rate flexibility and capital account liberalization.

Author : David Bigman,Teizo Taya
Publisher : Beard Books
Page : 356 pages
File Size : 41,7 Mb
Release : 2003-03
Category : Business & Economics
ISBN : 1587981297

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Floating Exchange Rates and the State of World Trade and Payments by David Bigman,Teizo Taya Pdf

Analyzes developments in the international monetary system since 1973, with anew added epilogue.

Author : Mark Swinburne
Publisher : International Monetary Fund
Page : 216 pages
File Size : 43,7 Mb
Release : 1999-09-24
Category : Business & Economics
ISBN : STANFORD:36105021835330

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Exchange Rate Arrangements and Currency Convertibility by Mark Swinburne Pdf

Currency, transfers, payments, capital movements, exchange rate, markets, liberalization, trade, economic development.

Author : United States. General Accounting Office
Publisher : Unknown
Page : 92 pages
File Size : 50,6 Mb
Release : 1984
Category : Foreign exchange
ISBN : UIUC:30112033970085

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Floating Exchange Rates in an Interdependent World by United States. General Accounting Office Pdf

Author : Jacques R. Artus,Andrew Crockett
Publisher : Unknown
Page : 52 pages
File Size : 43,5 Mb
Release : 1978
Category : Business & Economics
ISBN : UOM:49015001166199

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Floating Exchange Rates and the Need for Surveillance by Jacques R. Artus,Andrew Crockett Pdf

Author : Ms.Inci Ötker
Publisher : International Monetary Fund
Page : 94 pages
File Size : 48,5 Mb
Release : 2007-04-30
Category : Business & Economics
ISBN : 9781589066243

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Moving to Greater Exchange Rate Flexibility by Ms.Inci Ötker Pdf

Many countries have moved towards more flexible exchange rate regimes over the last decade to take advantage of greater monetary policy autonomy and flexibility in responding to external shocks. Some reluctance to let go of pegged exchange rates persists, however, despite the benefits of flexibility. The institutional and operational requirements needed to support a floating exchange rate, as well as difficulties in assessing the right time and manner to exit, tend to be additional factors in this reluctance. This volume presents the concrete steps taken by a number of countries in transition to greater exchange rate flexibility and elaborates on the operational ingredients that proved helpful in promoting successful and durable transitions. It attempts to provide a better understanding (and hence a "road map") of how these various operational ingredients were established and coordinated, how their implementation interacted with macro and other conditions, and how they contributed to the smoothness of each transition.

Author : Peter J. Quirk
Publisher : International Monetary Fund
Page : 58 pages
File Size : 51,7 Mb
Release : 1987-05-15
Category : Business & Economics
ISBN : UCSD:31822015452790

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Floating Exchange Rates in Developing Countries by Peter J. Quirk Pdf

In recent years, an increasing number of developing countries have adopted market-determined floating exchange rates. This development has represented a significant step forward in the evolution toward exchange rate flexibility that has taken place in the developing country group since the adoption of generalized floating by industrial countries in 1973.

Author : International Monetary Fund. Monetary and Financial Systems Dept.
Publisher : International Monetary Fund
Page : 48 pages
File Size : 53,7 Mb
Release : 2004-11-19
Category : Business & Economics
ISBN : 9781498330015

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From Fixed to Float-Operational Aspects of Moving Toward Exchange Rate Flexibility by International Monetary Fund. Monetary and Financial Systems Dept. Pdf

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Author : Ronald MacDonald
Publisher : Allen & Unwin Australia
Page : 340 pages
File Size : 52,5 Mb
Release : 1988
Category : Business & Economics
ISBN : STANFORD:36105008548898

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Floating Exchange Rates by Ronald MacDonald Pdf

Author : Rachel McCulloch
Publisher : Unknown
Page : 158 pages
File Size : 48,6 Mb
Release : 1983
Category : Foreign exchange
ISBN : UCSC:32106012111719

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Unexpected Real Consequences of Floating Exchange Rates by Rachel McCulloch Pdf

Author : Joseph Gold,International Monetary Fund
Publisher : Unknown
Page : 124 pages
File Size : 47,9 Mb
Release : 1977
Category : Business & Economics
ISBN : UOM:39015002243379

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Floating Currencies, SDRs, and Gold by Joseph Gold,International Monetary Fund Pdf