Author: United States. Congress. House. Committee on Banking, Currency, and Housing. Subcommittee on International Trade, Investment and Monetary PolicyPublisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 244
Book Description
INTERNATIONAL MONETARY REFORM AND EXCHANGE RATE MANAGEMENT
Author: United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on International Trade, Investment and Monetary PolicyPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
International Monetary Reform and Exchange Rate Management
Author: United States. Congress. House. Committee on Banking, Currency, and Housing. Subcommittee on International Trade, Investment and Monetary PolicyPublisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 244
Book Description
Reform of the International Monetary System
Author: John B. TaylorPublisher: MIT Press
ISBN: 0262536757
Category : Business & Economics
Languages : en
Pages : 153
Book Description
An argument that a rules-based reform of the international monetary system, achieved by applying basic economic theory, would improve economic performance. In this book, the economist John Taylor argues that the apparent correlation of monetary policy decisions among different countries—largely the result of countries' concerns about the exchange rate—causes monetary policy to deviate from effective policies that stabilize inflation and the economy. He argues that a rules-based reform of the international monetary system, achieved by applying basic economic theory, would improve economic performance. Taylor shows that monetary polices in recent years have been deployed either defensively, as central banks counteract forces from abroad that affect the exchange rate, or offensively, as central banks attempt to move the exchange rate to gain a competitive advantage. Focusing on the years from 2005 to 2017, he develops an empirical framework to examine two monetary policy instruments: the policy interest rate (the more conventional of the two) and the size of the balance sheet. He finds that an international contagion in central bank decisions about the policy interest rate has accentuated the deviation from standard interest rate rules that have worked in the past. He finds a similar contagion in decisions about the size of the balance sheet. By considering a counterfactual policy in the estimated model, Taylor is able to estimate by how much the policy of recent years has increased exchange rate volatility. After several rounds of monetary actions and reactions aimed at exchange rates, Taylor finds, the international monetary system is left with roughly the same interest rate configuration, but much larger balance sheets to unwind.
Resetting the International Monetary (Non)System
Author: José Antonio OcampoPublisher: Oxford University Press
ISBN: 019871811X
Category : Business & Economics
Languages : en
Pages : 296
Book Description
Annotation Provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.
Exchange Rate Policy and International Monetary Reform
Author: United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on International Trade, Investment and Monetary PolicyPublisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 16
Book Description
Sequencing Financial Sector Reforms
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 9781557757791
Category : Business & Economics
Languages : en
Pages : 412
Book Description
Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
Reference Rates and the International Monetary System
Author: John WilliamsonPublisher: Columbia University Press
ISBN: 0881324795
Category : Business & Economics
Languages : en
Pages : 104
Book Description
Growing global imbalances threaten to induce a collapse of the dollar, which could in turn produce a severe recession in the rest of the world. This crisis could force countries to say "never again" and search for a system to prevent similar disasters. The system that could do so is a reference rate system—where countries' authorities are forbidden from intervening in order to push the exchange rate too far from what is termed the "reference rate." It could help a country's authorities manage its exchange rate to avoid large misalignments, assist the private sector in forming more dependable expectations of future exchange rates and thus to manage their businesses more efficiently in a world of floating exchange rates, and aid the International Monetary Fund in designing and managing an effective system of multilateral surveillance. The world economy would function better as a result, with less chance of the global imbalances leading to a world recession.
International Monetary Reform
Author: John WilliamsonPublisher: Routledge
ISBN: 131736290X
Category : Business & Economics
Languages : en
Pages : 142
Book Description
This volume is a contribution to the debates surrounding international monetary reform. The author examines and analyses the workings of the International Monetary Fund (IMF) and suggests how the international monetary system could, through changes to the IMF, be reshaped and reformed. Chapters examine the Palais-Royal report, explain how the IMF could be granted unlimited bailout powers to confront a global crisis, propose an exchange-rate based mechanism by which the international community could discipline excessive imbalances, examine alternative possibilities for the supply of future reserves, advocate `enthronement of the Special Drawing Right’, and discuss the obstacles in the way of such an ambitious reform agenda.
Guidelines for International Monetary Reform
Author: United States. Congress. Joint Economic Committee. Subcommittee on International Exchange and PaymentsPublisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 424
Book Description
Floating Exchange Rates and International Monetary Reform
Author: Thomas D. WillettPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 170
Book Description