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Essays on Stabilization Policies Under Flexible Exchange Rates

Essays on Stabilization Policies Under Flexible Exchange Rates PDF Author: Linda Sue Kole
Publisher:
ISBN:
Category :
Languages : en
Pages : 428

Book Description

Essays on Stabilization Policies Under Flexible Exchange Rates

Essays on Stabilization Policies Under Flexible Exchange Rates PDF Author: Linda Sue Kole
Publisher:
ISBN:
Category :
Languages : en
Pages : 428

Book Description

Essays on Exchange Rate Target Zones and Stabilization Policies

Essays on Exchange Rate Target Zones and Stabilization Policies PDF Author: Alejandro M. Werner
Publisher:
ISBN:
Category : Economic stabilization
Languages : en
Pages : 132

Book Description

Inflation and Employment in Open Economies

Inflation and Employment in Open Economies PDF Author: Assar Lindbeck
Publisher: North-Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 358

Book Description

Leaning Against the Wind

Leaning Against the Wind PDF Author: Paula A. Tosini
Publisher: Princeton, N.J. : International Finance Section, Department of Economics, Princeton University
ISBN:
Category : Business & Economics
Languages : en
Pages : 44

Book Description

Exchange Policies for Less Developed Countries in a World of Floating Rates

Exchange Policies for Less Developed Countries in a World of Floating Rates PDF Author: Stanley W. Black
Publisher: Princeton, N.J. : International Finance Section, Department of Economics, Princeton University
ISBN:
Category : Business & Economics
Languages : en
Pages : 60

Book Description

Credibility and the Dynamics of Stabilization Policy

Credibility and the Dynamics of Stabilization Policy PDF Author: Mr.Guillermo Calvo
Publisher: International Monetary Fund
ISBN: 1451945582
Category : Business & Economics
Languages : en
Pages : 48

Book Description
This paper studies price stabilization policy under both predetermined and flexible exchange rates. Under predetermined exchange rates, a non-credible stabilization program results in an initial expansion of output, followed by a later recession. The initial expansion accompanies an appreciating real exchange rate. Under flexible exchange rates, the recession occurs at the beginning of the program. The real exchange rate appreciates sharply on impact but depreciates afterwards. Lack of credibility is more costly under predetermined exchange rates because the real effects are more pronounced.

Further Essays in Monetary Economics (Collected Works of Harry Johnson)

Further Essays in Monetary Economics (Collected Works of Harry Johnson) PDF Author: Harry G. Johnson
Publisher: Routledge
ISBN: 1134623917
Category : Business & Economics
Languages : en
Pages : 299

Book Description
A sequel to Essays in Monetary Economics, this book develops the ideas on domestic and international monetary issues, with reference to specific events and crises of the 1960s and 70s. These essays are distinguished by the author’s expert grasp of the analytical techniques and contemporaneous policy problems of both domestic and international monetary economics.

Essays on Exchange-rate-based Stabilization Under Fiscal Constraints

Essays on Exchange-rate-based Stabilization Under Fiscal Constraints PDF Author: Nikolay Kirov Georgiev
Publisher:
ISBN:
Category :
Languages : en
Pages : 66

Book Description

Essays on Economic Variability, Dynamics of Adjustment, and Exchange Rate Flexibility

Essays on Economic Variability, Dynamics of Adjustment, and Exchange Rate Flexibility PDF Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

Book Description
This dissertation revisits the literature on the role of exchange rate flexibility in smoothing the adjustments of the economy to different disturbances. Recently, the role of flexible exchange rates in stabilizing the economy against real shocks has been challenged by the new open economy models, which build on some empirical regularities, such as the low pass-through from nominal exchange rates to import prices. We take three approaches in an attempt to enrich this literature. Firstly, we incorporate factors of production into welfare analyses of fully-specified general equilibrium models. We find flexible exchange rate regimes reduce terms of trade and consumption volatility for primary commodity economies, particularly oil-exporting. Secondly, in an empirical investigation, using a panel Vector Autoregressive Regression of nine of the OECD's major oil-importing countries and the Reinhart and Rogoff's de facto classification of exchange rate regimes, we find support for the hypothesis that flexible exchange regimes better absorb oil-price shocks. We also document feedback from the real effective exchange rate and inflation rate to the domestic-currency real oil price shocks, supporting the growing notion that oil price shocks are not purely exogenous to developed economies. Thirdly, in a micro-level empirical investigation, we find a significant improvement in estimating the degree of nominal exchange rate pass-through to import prices when the adjustment costs and the equilibrium degree of pass-through assumptions are considered. More specifically, using a vector threshold cointegration model, we find increases in both the initial reaction and the long-run equilibrium response of import prices to nominal exchange rate changes for five industries in 16 OECD countries, especially for the manufacturing industry.

Floating Exchange Rates and the Need for Surveillance

Floating Exchange Rates and the Need for Surveillance PDF Author: Jacques R. Artus
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 52

Book Description

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