The Transfer Problem And Exchange Stability

Author : Mr.Gian Milesi-Ferretti,Mr.Philip R. Lane
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 51,5 Mb
Release : 2000-07-01
Category : Business & Economics
ISBN : 1451854609

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The Transfer Problem Revisited by Mr.Gian Milesi-Ferretti,Mr.Philip R. Lane Pdf

The relationship between international payments and the real exchange rate—the “transfer problem”—is a classic question in international economics. We use new data on countries’ net external positions together with real exchange rate data to shed light on this question. We present a model yielding testable implications on the long-run co-movements of real exchange rates, external positions, relative GDP and terms of trade, and cross-country and time-series evidence on the subject. Countries with net external liabilities are found to have more depreciated real exchange rates, with the main channel of transmission working through the relative price of nontraded goods.

Author : Philip R. Lane
Publisher : Unknown
Page : 39 pages
File Size : 48,5 Mb
Release : 2007
Category : Electronic
ISBN : OCLC:1291191578

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The Transfer Problem Revisited by Philip R. Lane Pdf

The relationship between international payments and the real exchange rate--the transfer problem--is a classic question in international economics. We use new data on countries' net external positions together with real exchange rate data to shed light on this question. We present a model yielding testable implications on the long-run co-movements of real exchange rates, external positions, relative GDP and terms of trade, and cross-country and time-series evidence on the subject. Countries with net external liabilities are found to have more depreciated real exchange rates, with the main channel of transmission working through the relative price of nontraded goods.

Author : G. Stuvel
Publisher : Unknown
Page : 264 pages
File Size : 41,7 Mb
Release : 1950
Category : Balance of payments
ISBN : UCAL:$B99933

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The Exchange Stability Problem by G. Stuvel Pdf

Author : W. Max Corden
Publisher : MIT Press
Page : 292 pages
File Size : 42,7 Mb
Release : 2004-08-20
Category : Business & Economics
ISBN : 0262262118

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Too Sensational by W. Max Corden Pdf

Most of the literature on exchange rate regimes has focused on the developed countries. Since the recent crises in emerging markets, however, attention has shifted to the choice of exchange rate regimes for developing countries, especially those that are more integrated into the world capital markets. In Too Sensational, W. Max Corden presents a systematic and accessible overview of the choice of exchange rate regimes. Reviewing many types of regimes, he shows how the choice of an exchange rate regime is related to both fiscal policy and trade policy. Building on the theory of optimum currency areas, Corden develops an analytic framework of three approaches (nominal anchor, real targets, and exchange rate stability) and three polar exchange rate regimes (absolutely fixed, pure floating, and fixed but adjustable). He considers all other regimes to be mixtures of two or three of the polar regimes. Beginning with theory and later turning to case studies of countries in Asia, Europe, and Latin America, Corden focuses on how economies react to negative and positive shocks under various exchange rate regimes. He examines in particular the Asian and Latin American currency crises of the 1990s. He concludes that although "too sensational" crises have discredited fixed but adjustable regimes, the extremes of absolutely fixed regimes or pure floating regimes need not be chosen.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 105 pages
File Size : 45,7 Mb
Release : 2013-12-15
Category : Business & Economics
ISBN : 9781484366806

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Annual Report on Exchange Arrangements and Exchange Restrictions 2013 by International Monetary Fund. Monetary and Capital Markets Department Pdf

This is the 64th issue of the AREAER. It provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It also provides information on the operation of foreign exchange markets and controls on international trade. It describes controls on capital transactions and measures implemented in the financial sector, including prudential measures. In addition, it reports on exchange measures imposed by member countries for security reasons. A single table provides a snapshot of the exchange and trade systems of all IMF member countries. The Overview describes in detail how the general trend toward foreign exchange liberalization continued during 2012, alongside a strengthening of the financial sector regulatory framework. The AREAER is available in several formats. The Overview in print and online, and the detailed information for each of the 191 member countries and territories is included on a CD that accompanies the printed Overview and in an online database, AREAER Online. In addition to the information on the exchange and trade system of IMF member countries in 2012, AREAER Online contains historical data published in previous issues of the AREAER. It is searchable by year, country, and category of measure and allows cross country comparisons for time series.

Author : Ronald MacDonald
Publisher : Routledge
Page : 334 pages
File Size : 42,7 Mb
Release : 2005
Category : Foreign exchange
ISBN : 9781134838226

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Exchange Rate Economics by Ronald MacDonald Pdf

''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""

Author : G. Stuvel
Publisher : Unknown
Page : 262 pages
File Size : 43,9 Mb
Release : 1951
Category : Balance of payments
ISBN : UCAL:$B668329

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The Exchange Stability Problem by G. Stuvel Pdf

Author : Warner Max Corden
Publisher : Unknown
Page : 37 pages
File Size : 44,7 Mb
Release : 1982
Category : Business cycles
ISBN : 0868310794

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Booming Sector and Dutch Disease Economics by Warner Max Corden Pdf

Author : James A. Dorn,William A. Niskanen
Publisher : Springer Science & Business Media
Page : 436 pages
File Size : 46,5 Mb
Release : 2013-11-11
Category : Business & Economics
ISBN : 9789401712880

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Dollars Deficits & Trade by James A. Dorn,William A. Niskanen Pdf

The essays in this volume are timelyand provocative. They address the key issues of the changing world economy and consider the implications ofthe erosion ofthe rule oflaw that has occurred both domestically and internationally to an increasing degree over the past halfcentury. The debates over the role of the dollar in the international econ omy, the future shape ofthe international monetary system and the exchange rate regime, the significance ofthe U.S. twin deficits, and the rise of nontariffbarriers to world trade deserve serious attention. Atthe bottom ofthese debates lie differing conceptions ofeconomic policy and the role of government in a free society. Adam Smith's vision ofa limited democracy operating to protect persons and prop erty has been increasinglyreplaced by a vision ofapaternalistic state that is designed to protect special interests at the expense of the larger society. Many of the contributors to this volume point to the lack oflong-run rules designed to promote sound money, fiscal integ rity, and open markets asthe fundamental flawofmodern democratic governments. Although the authors disagree on the specific rules to adopt, the consensus is that a constitutional perspective is needed to ensure astable worldorder. Moreover, since such aperspective must bedeveloped at home before it can spread among nations, the search for optimal international policy coordination is generally seen as misguided. Many ofthe essays in this volume were initially presented at the Cato Institute's Sixth Annual Monetary Conference held in Wash ington, D.C., February 25-26, 1988.

Author : Lucía Satragno
Publisher : BRILL
Page : 225 pages
File Size : 54,8 Mb
Release : 2022-02-28
Category : Law
ISBN : 9789004508736

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Monetary Stability as a Common Concern in International Law by Lucía Satragno Pdf

The open access publication of this book has been published with the support of the Swiss National Science Foundation. In Monetary Stability as a Common Concern in International Law, Lucía Satragno argues that monetary stability is a global public good that must be promoted and protected at all levels of governance. In doing so, the book accomplishes two tasks. On one hand, it provides an up to date analysis of the role of law and institutions in the international monetary field since the collapse of the Bretton Woods system. On the other hand, it applies the methodological approach proposed by the novel doctrine of Common Concern of Humankind to monetary stability as a case study. Accordingly, the book examines not only the status quo of the international monetary system, but also looks at the ‘new and different realism’ that would be envisaged in monetary affairs in the case of a fully-fledged principle of Common Concern.

Author : Rajat Acharyya
Publisher : Oxford University Press
Page : 657 pages
File Size : 50,9 Mb
Release : 2022-03-25
Category : Electronic
ISBN : 9780192865144

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International Economics by Rajat Acharyya Pdf

Complementing trade theories with relevant trade empirics, this book covers three aspects of the study of International Economics: pure theory of trade, trade policy, and theory of Balance of Payments (BoP) and exchange rate. In the first part, it discusses the basic principles of international trade between dissimilar countries as well as between similar countries, and implications thereof in terms of welfare, income distribution, and growth. The approach taken here is distinctly different from that in most of the existing textbooks on international economics. Instead of model-specific discussions of the basic issues, it discusses the basic principles governing trade, gains from trade, and characteristics of international equilibrium in the context of a general trading environment of open economies. Subsequently, specific models of trade are introduced as alternative theoretical explanations for the basic principles of trade. In the second part, a wide range of policy issues are analysed including unilateral trade restrictions and promotions; reciprocatory trade policy choices through regionalism; product standards that regulate trade between developed and developing countries; and implications of capital inflow, FDI, fragmentation, and global value chains. In the third part, the book discusses different currency and exchange rate regimes and their implications for a country's balance of payments and foreign exchange reserves. Drawing upon the basic theories, it studies expenditure-reducing and expenditure-switching policies to correct for BoP imbalances under a pegged exchange rate regime. Finally, some reflections on the choice of exchange rate regime and optimum currency area wind up discussions of monetary issues in international economics.

Author : R.W. Jones,P.B. Kenen,Gene M. Grossman,Kenneth S. Rogoff,Gita Gopinath,Elhanan Helpman
Publisher : Elsevier
Page : 640 pages
File Size : 54,9 Mb
Release : 1984
Category : Business & Economics
ISBN : 9780444867933

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Handbook of International Economics by R.W. Jones,P.B. Kenen,Gene M. Grossman,Kenneth S. Rogoff,Gita Gopinath,Elhanan Helpman Pdf

This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions. The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods. The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior. For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes

Author : Giancarlo Gandolfo
Publisher : Springer Science & Business Media
Page : 525 pages
File Size : 47,6 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9783662079799

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International Economics II by Giancarlo Gandolfo Pdf

There is no lack of good international economics textbooks ranging from the elementary to the advanced, so that an additional drop in this ocean calls for an explanation. In the present writer's opinion, there seems still to be room for a textbook which can be used in both undergraduate and graduate courses, and which contains a wide range of topics, including those usually omitted from other textbooks. These are the intentions behind the present book, which is an outcrop from undergraduate and graduate courses in international economics that the author has been holding at the University of Rome since 1974, and from his on going research work in this field. Accordingly the work is organized as two-books in-one by distributing the material between text and appendices. The treatment in the body of this book is directed to undergraduate students and is mainly confined to graphic analysis and to some elementary algebra, but it is assumed that the reader will have a good knowledge of basic microeconomics and macroeconomics (so that the usual review material on production functions, indifference curves, standard Keynesian model, etc. , etc. has been omitted) . Each chapter is followed by an appendix in which the treatment is mainly mathematical, and where (i) the topics explained in the text are treated at a level suitable for advanced undergraduate or first-year graduate students and (ii) generalizations and/or topics not treated in the text (including some of those at the frontiers of research) are formally examined.

Author : Hong Kong Economic Association
Publisher : Springer Science & Business Media
Page : 276 pages
File Size : 49,7 Mb
Release : 2003
Category : Business & Economics
ISBN : 1402072872

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Exchange Rate Regimes and Macroeconomic Stability by Hong Kong Economic Association Pdf

The Asian crisis of 1997-1998 was a major influence on macroeconomic thinking concerning exchange rate regimes, the functioning of international institutions, such as the IMF and the World Bank, and international contagion of macroeconomic instability from one country to another. Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability. Overall, the chapters contained in this volume offer interesting perspectives, which have been stimulated by the recent events in the foreign exchange market. They provide a useful reference for anyone interested in the development of exchange rate regimes, and represent considerable reflection by economists half a century after Bretton Woods.

Author : Richard E. Caves,Grant L. Reuber
Publisher : Harvard University Press
Page : 460 pages
File Size : 55,6 Mb
Release : 1971
Category : Business & Economics
ISBN : 0674094859

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Capital Transfers and Economic Policy: Canada, 1951-1962 by Richard E. Caves,Grant L. Reuber Pdf

Between 1951 and 1962 nearly ten billion dollars in long-term capital (both direct investment and purchase of securities) flowed into Canada. This massive amount represented one third of all long-term capital moving among industrial nations. Its transfer marked the first time since before World War I that the world witnessed such a large-scale international movement of capital motivated primarily by a prospect of higher rates of return. In Capital Transfers and Economic Policy the authors test the theory of the causes and effects of international capital movements against the evidence drawn from Canada's experience. They explore Canada's adjustment to capital flows and show how the operation of her economic policy is affected by the sensitivity of capital flows to the country's interest rates and foreign-exchange rate. Their brilliant analysis is particularly valuable in light of current trends in capital flows among industrial nations and the June 1970 return of the Canadian dollar to a flexible exchange rate, which put the economy in a working situation similar to that of the fifties.