Author: Luca DedolaPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 56
Book Description
Why is the Business-cycle Behavior of Fundamentals Alike Across Exchange-rate Regimes?
Author: Luca DedolaPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 56
Book Description
Why is the Business-cycle Behaviour of Fundamentals Alike Across Exchange-rate Regimes?
Author: Luca DedolaPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 42
Book Description
Why are Business Cycles Alike Across Exchange-rate Regimes?
Author: Luca DedolaPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 37
Book Description
Business Cycles and the Exchange Rate System
Author: Marianne BaxterPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 80
Book Description
This paper investigates empirically the differences in time?series behavior of key economic aggregates under alternative exchange rate systems. We use a postwar sample of 49 countries to compare the behavior of output. consumption, trade flows, government consumption spending, and real exchange rates under alternative exchange rate systems (pegged, floating, and systems such as the EMS). We then examine evidence from two particular episodes, involving Canada and Ireland, of changes in the exchange rate system. Aside from greater variability of real exchange rates under flexible than under pegged nominal exchange rate systems, we find little evidence of systematic differences in the behavior of other macroeconomic aggregates or international trade flows under alternative exchange rate systems. These results are of interest because a large class of theoretical models implies that the nominal exchange rate system has important effects on a number of macroeconomic quantities.
Exchange Rate Regimes
Author: I. MoosaPublisher: Springer
ISBN: 0230504426
Category : Business & Economics
Languages : en
Pages : 285
Book Description
This book explores the exchange rate regime choice and the role played by the exchange rate in the economy. Approaching the classification of exchange rate regimes from theoretical, practical and historical perspectives, the book discusses pertinent case studies, including the choice of exchange rate regime in the post-conflict case of Iraq.
Exchange Rate Regimes and Business Cycle Properties
Author: Thepthida SopraseuthPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
This paper aims at measuring the robustness of Real Business Cycle international stylized facts across exchange rate regimes. I thus investigate the impact of the Bretton Woods System and the ERM on the business cycle regularities. Thanks to bootstrap techniques, I measure the accuracy of the statistics. While exchange rate variability is sensitive to the nature of the exchange rate regime, the volatility of macroeconomic fundamentals does not differ across exchange rate regimes. Moreover, there is evidence that fixed-rates enhance international comovement of ouput, consumption and investment.
Evolution and Performance of Exchange Rate Regimes
Author: Mr.Kenneth RogoffPublisher: International Monetary Fund
ISBN: 1451875843
Category : Business & Economics
Languages : en
Pages : 85
Book Description
Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility.
Exchange Rate Dynamics
Author: Jean-Olivier HairaultPublisher: Routledge
ISBN: 1134426135
Category : Electronic books
Languages : en
Pages : 320
Book Description
This book builds upon the seminal work by Obsfeld and Rogoff, Foundations of International Macroeconomics and provides a coherent and modern framework for thinking about exchange rate dynamics.
Exchange Rate Dynamics
Author: Jean-OIiver HairaultPublisher: Routledge
ISBN: 1134426127
Category : Business & Economics
Languages : en
Pages : 446
Book Description
This important new book builds upon the seminal work by Obsfeld and Rogoff, Foundations of International Macroeconomics and aims at providing a coherent and modern framework for thinking about exchange rate dynamics. With a wide range of contributions, this book is likely to be welcomed by the macroeconomics and financial community.
China’s Evolving Exchange Rate Regime
Author: Mr.Sonali DasPublisher: International Monetary Fund
ISBN: 1498302025
Category : Business & Economics
Languages : en
Pages : 31
Book Description
China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.