Flexible Exchange Rates for a Stable World Economy
Title | Flexible Exchange Rates for a Stable World Economy PDF eBook |
Author | Joseph E. Gagnon |
Publisher | Peterson Institute |
Total Pages | 301 |
Release | 2011 |
Genre | Business & Economics |
ISBN | 0881326356 |
Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
Exchange Rate Regimes and the Stability of the International Monetary System
Title | Exchange Rate Regimes and the Stability of the International Monetary System PDF eBook |
Author | Mr.Atish R. Ghosh |
Publisher | International Monetary Fund |
Total Pages | 48 |
Release | 2011-03-15 |
Genre | Business & Economics |
ISBN | 1589069315 |
The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the international monetary system is to facilitate the exchange of goods, services, and capital, and to sustain sound economic growth. The paper reviews the stability of the overall system of exchange rates by examining macroeconomic performance (inflation, growth, crises) under alternative exchange rate regimes; implications of exchange rate regime choice for interaction with the rest of the system (external adjustment, trade integration, capital flows); and potential sources of stress to the international monetary system.
The International Monetary System Under Flexible Exchange Rates
Title | The International Monetary System Under Flexible Exchange Rates PDF eBook |
Author | Richard N. Cooper |
Publisher | |
Total Pages | 346 |
Release | 1982 |
Genre | Business & Economics |
ISBN |
Swiss Monetary History since the Early 19th Century
Title | Swiss Monetary History since the Early 19th Century PDF eBook |
Author | Ernst Baltensperger |
Publisher | Cambridge University Press |
Total Pages | 267 |
Release | 2017-08-03 |
Genre | Business & Economics |
ISBN | 1108191444 |
This book describes the remarkable path which led to the Swiss Franc becoming the strong international currency that it is today. Ernst Baltensperger and Peter Kugler use Swiss monetary history to provide valuable insights into a number of issues concerning the organization and development of monetary institutions and currency that shaped the structure of financial markets and affected the economic course of a country in important ways. They investigate a number of topics, including the functioning of a world without a central bank, the role of competition and monopoly in money and banking, the functioning of monetary unions, monetary policy of small open economies under fixed and flexible exchange rates, the stability of money demand and supply under different monetary regimes, and the monetary and macroeconomic effects of Swiss Banking and Finance. Swiss Monetary History since the Early 19th Century illustrates the value of monetary history for understanding financial markets and macroeconomics today.
Floating Exchange Rates and the State of World Trade and Payments
Title | Floating Exchange Rates and the State of World Trade and Payments PDF eBook |
Author | David Bigman |
Publisher | Beard Books |
Total Pages | 356 |
Release | 2003-03 |
Genre | Business & Economics |
ISBN | 9781587981296 |
Analyzes developments in the international monetary system since 1973, with anew added epilogue.
Flexible Exchange Rates/h
Title | Flexible Exchange Rates/h PDF eBook |
Author | Jan Herin |
Publisher | Routledge |
Total Pages | 280 |
Release | 2019-03-12 |
Genre | Political Science |
ISBN | 0429708165 |
This book contains the papers, comments, and the discussion at a conference on "Flexible Exchange Rates and Stabilization Policy", held at Saltsjobaden, Stockholm, August 26–27, 1975. The papers integrate the flexible exchange rates theory with macro theory and stabilization policy analysis. .
Currency Politics
Title | Currency Politics PDF eBook |
Author | Jeffry A. Frieden |
Publisher | Princeton University Press |
Total Pages | 318 |
Release | 2014-12-28 |
Genre | Business & Economics |
ISBN | 1400865344 |
The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.