Sustaining Fixed Exchange Rates

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Sustaining Fixed Exchange Rates

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Author : Alexander Pitt
language : en
Publisher:
Release Date : 2001

Sustaining Fixed Exchange Rates written by Alexander Pitt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Banks and banking categories.

Optimal And Sustainable Exchange Rate Regimes

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Author : Masahiro Kawai
language : en
Publisher: International Monetary Fund
Release Date : 1992-11-01

Optimal And Sustainable Exchange Rate Regimes written by Masahiro Kawai and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-11-01 with Business & Economics categories.

This paper examines the question of how to design an optimal and sustainable exchange rate regime in a world economy of two interdependent countries. It develops a Barro-Gordon type two-country model and compares noncooperative equilibria under different assumptions of monetary policy credibility and different exchange rate regimes. Using a two-stage game approach to the strategic choice of policy instruments, it identifies optimal (in a Pare to sense) and sustainable (self-enforcing) exchange rate regimes. The theoretical results indicate that the choice of such regimes depends fundamentally on the credibility of monetary policy commitments by the two countries’ authorities. The nature of shocks to the economies and the substitutability between goods produced in the two countries also play some role. International coordination on instrument choice is necessary to design optimal and sustainable exchange rate regimes.

Fix Vs Float Evaluating The Transition To A Sustainable Equilibrium In Bolivia

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Author : Andres Gonzalez
language : en
Publisher: International Monetary Fund
Release Date : 2022-02-25

Fix Vs Float Evaluating The Transition To A Sustainable Equilibrium In Bolivia written by Andres Gonzalez and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-25 with Business & Economics categories.

Bolivia has achieved noteworthy success over the past 15 years in raising incomes, reducing poverty, and maintaining macroeconomic stability by deploying commodity revenues to finance transfers, public investment, and state-led development, using an exchange rate peg as a policy anchor. However, with the end of the commodity boom in 2014, fiscal deficits have grown and reserves have fallen. One route to restoring long-run sustainability would be to combine fiscal consolidation with a switch to a floating exchange rate. However, a preference for maintaining the peg could be accommodated with adjustments elsewhere in the policy framework. Employing a detailed dynamic stochastic general equilibrium model of the Bolivian economy, this study assesses the long-run sustainability and relative benefits of alternative policy combinations, and calculates optimal adjustment paths for the transition from the present situation to the steady state. It concludes that continued adherence to a fixed-rate regime, while not optimal, is feasible, if supported by a larger fiscal effort.

Sustainable Development In Mineral Economies

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Author : Richard M. Auty
language : en
Publisher: Clarendon Press
Release Date : 1998

Sustainable Development In Mineral Economies written by Richard M. Auty and has been published by Clarendon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.

The mineral economies comprise approximately one-fifth of developing countries. They face special problems in achieving sustainable development, and have as a group been less successful than resource-deficient neighbours. This book examines the apparent paradox, detailing the current problems facing the mineral economies and the future policies necessary to overcome these problems. Nine countries are studied: Botswana, Chile, Colombia, Indonesia, Jamaica, Namibia, Papua New Guinea, Peru, and Trinidad and Tobago. The authors argue that the key factor is not the sustainability of the mineral production that initially generates growth, but the maintenance of the economic and social conditions for sustaining that growth. They draw upon recent progress in environmental and natural resource accounting to show how this can be achieved, and also assess the socio-political factors that often constrain sustainable development.

Sustainability And Collapse Of Fixed Exchange Rate Regimes In Emerging Markets

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Author : Unay Tamgac
language : en
Publisher:
Release Date : 2010

Sustainability And Collapse Of Fixed Exchange Rate Regimes In Emerging Markets written by Unay Tamgac and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

Sustaining European Monetary Union

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Author : Tal Sadeh
language : en
Publisher:
Release Date : 2006

Sustaining European Monetary Union written by Tal Sadeh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.

The tranquility of the European Union's transition to the euro in 1999 contrasted dramatically with the preceding tumultuous decades of exchange rate crises and political upheavals. But have the EU member states in fact converged sufficiently to make monetary union a stable alternative? Or is EMU an institutional lid on a simmering pot of diverse economies, in which tensions are building to a future blowup? And if the latter, what can be done to remedy the situation? Arguing that EMU is disproportionately socially expensive for many of the present and potential member states, Tal Sadeh's rigorous analysis focuses on the problematic implications of the EU's economic and political diversity. Sadeh is particularly concerned with the domestic structural and institutional reforms that will be necessary to sustain EMU.

Is The U S Trade Deficit Sustainable

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Author : Catherine L. Mann
language : en
Publisher: Peterson Institute
Release Date : 1999

Is The U S Trade Deficit Sustainable written by Catherine L. Mann and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.

The global financial crisis of 1997-98 and the widening US trade deficit have precipitated fresh inquiry into a set of perennial questions about global integration and the US economy. How has global integration affected US producers and workers, and overall growth and inflation? Is a chronic and widening deficit sustainable, or will the dollar crash, perhaps taking the economy with it? If the problem was one of "twin deficits," as many thought, why has the trade deficit continued to grow even as the budget deficit narrowed to zero? If US companies are so competitive, why does the trade deficit persist? Is the trade deficit a result of protectionism abroad? Will it lead to protectionism at home? What role do international capital markets have? Each chapter presents relevant data and a simple analytical framework as the basis for concise discussions of these major issues. The final section of the book provides an outlook for the deficit and suggests alternative policy courses for dealing with it. This book is designed for policymakers and others who are interested in the US role in the world economy. It is also suitable for courses in international economics, business, and international affairs.

Monetary Contracting Between Central Banks And The Design Of Sustainable Exchange Rate Zones

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Author : Francisco Delgado
language : en
Publisher:
Release Date : 1990

Monetary Contracting Between Central Banks And The Design Of Sustainable Exchange Rate Zones written by Francisco Delgado and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Foreign exchange categories.

An exchange-rate system is a set of contracts which commits central banks to intervene in the foreign-exchange market. The design features of the system include: the rules of intervention, the limits placed on exchange rates and the "crisis scenario" which describes possible transitions to new regimes in case one central bank runs out of reserves or borrowing capacity. This paper considers the various trade-offs one faces in designing an exchange-rate system. Svensson (1989) has already analyzed the degree of variability in the exchange rate, the interest rate and the fundamentals. But the tradeoff also pertains to the amount of reserves which the central banks must have on hand in order to forestall a speculative attack and make the system sustainable. The amount of reserves needed depends crucially on the assured crisis scenario

Sustaining The International Economic System

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Author : Marina von Neumann Whitman
language : en
Publisher: Princeton, N.J. : International Finance Section, Department of Economics, Princeton University
Release Date : 1977

Sustaining The International Economic System written by Marina von Neumann Whitman and has been published by Princeton, N.J. : International Finance Section, Department of Economics, Princeton University this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Political Science categories.

External Debt Fiscal Policy And Sustainable Growth In Turkey

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Author : Sweder van Wijnbergen
language : en
Publisher:
Release Date : 1992

External Debt Fiscal Policy And Sustainable Growth In Turkey written by Sweder van Wijnbergen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Architecture categories.