2 edition of Exchange-rate regimes in transition found in the catalog.
Exchange-rate regimes in transition
Robert P Flood
|Statement||by Robert P. Flood and Nancy Peregrim Marion|
|Series||International finance discussion papers -- number 193, International finance discussion papers -- 193|
|Contributions||Marion, Nancy Peregrim, Board of Governors of the Federal Reserve System (U.S.)|
|The Physical Object|
|Pagination|| p. :|
|Number of Pages||35|
Exchange rate Like any other commodity, foreign exchange has a price. The exchange rate is the price of one currency in terms of another. For example, if the exchange rate between the rupee and the US dollar (USD) is quoted as , this means that R is required to purchase US$ Exchange rate regimeMissing: transition book. An empirical study of exchange rate regimes based on data compiled from member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate by:
Get this from a library! Exchange-rate regimes in transition: Italy [Robert P Flood; Nancy Peregrim Marion; Board of Governors of the Federal Reserve System (U.S.)]. Exchange rate regimes for emerging market economies The varied and sometimes dramatic experiences of emerging market economies (EMEs) with exchange rate regimes during the last decade has created much debate about the choice of exchange order to cope with the demands of transition from a planned to a market economy, and.
Most recently, this discussion has focussed on the appropriate choice of exchange rate regime for transition economies. In this paper, we consider an aspect of exchange rate policies that has so far escaped much attention in the literature, the impact of different exchange rate regimes . The political economy of exchange rate regimes in transition economies Jeffry Frieden & David Leblang & Neven Valev Received: 11 January /Revised: 15 September /Accepted: 16 September # Springer Science + Business Media, LLC Abstract We show that political economy factors play an important role in shaping.
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The book investigates how does the choice of each of the possible exchange rate regime influence the behavior of economic participants: households, firms, banks, fiscal policy.
The model is tested versus the data in post-communist transition countries and it is clearly shown the choice of the exchange rate regime presents an important choice for a small open : Neven Vidaković. The International Monetary Fund (IMF) presents the full text of an article entitled "Exchange Rate Regime Transitions," by Paul Masson and published July The article discusses the use of the hollowing out hypothesis to test exchange rate transitions.
The Exchange Rate Regime During the Transition The speculative run on the koruna in May and the subse-quent abandonment of the limited rate movement regime meant the definitive end to the first phase of the transformation of the Czech economy.
In this way, the Czech Republic has joined the. EXCHANGE-RATE REGIMES AND MACROECONOMIC STABILITYt Economic Transition and the Exchange-Rate Exchange-rate regimes in transition book By JEFFREY D.
SACHS * Exchange-rate management poses special challenges in the transition economies of Eastern Europe and the former Soviet Union.
These countries are adapting to open, market-based in. opposed to the optimal choice of the exchange rate regime and the main objectives of monetary policy, and (c) a normative judgment on the choice of the optimal transitional exchange rate 1 The transition process is inducing - above all - the transformation of a centrally planned economic system intoMissing: transition book.
In what follows, data on exchange rate regimes over the past two-and-a-half decades are used for constructing transition matrices, whose properties are then examined, to see whether they support the hypothesis of the disappearance of intermediate regimes.
Because classification of regimes is difficult and contentious, we use two different by: Note that at any time t, rc (t) refers to an event in the future.
Agents set rc (t) at time t at the level which optimally uses all Exchange Rate Regimes in Transition: lta~ information available.
Hence, agents expect re (t) to be constant and thus expect C1 (t) and C2 (t) to be by: Ukraine has tried several exchange rate regimes, including fixed peg and independent float [for a survey of exchange rate regimes in transition economies, see Agnieszka Markiewicz (), Jeffry Author: Agnieszka Markiewicz.
Downloadable. This paper is devoted to an extension of Dibooglu and Kutan’s work [Journal of Comparative Economics, June ], in two directions. First, a bivariate VAR, including the real effective exchange rate (REER) and inflation, is tested not only for Hungary and Poland, but also for the Czech Republic, over the time-period, which excludes the early transition years.
Chicago, January 4, —made an attempt to explore issues related to exchange rate regime in the countries in Transition. Majority of the papers were descriptive in their nature and made no attempt to empirically investigate the macroeconomic implications of the exchange rate regime in transition.
"Exchange Rate Regime and Disinflation in the Transition: the Experience of the Pre-announced Crawling Peg in Hungary," Revue d'Économie Financière, Programme National.
Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability.
With the outbreak of the two World Wars in andstable exchange rate regimes had gone completely haywire. The Bretton Woods system was established in. In recent years developing and transition countries have tended to move away from adjustable-peg regimes to more flexible regimes or toward hard pegs.
The literature has identified this phenomenon as a "hollowing of the middle" in the spectrum of exchange rate regimes. This seminar addresses the. Transition to an Equilibrium Exchange Rate China’s transition by the mids to a system in which the value of its currency was determined by supply and demand in a foreign exchange market was a gradual process spanning 15 years that involved changes in the ofﬁcial exchange rate, the use of a dual exchange rate system, and theFile Size: KB.
country’s choice of its exchange rate regime. I begin with a critical review of Klein and Shambaugh’s () book Exchange Rate Regimes in the Modern Era, and then proceed to provide an alternative overview of what the economics professions knows and needs to know about exchange rate regimes.
the exchange rate regime and on the choice of the exchange rate in the transition countries. More recently, series of papers- presented at an Association for Comparative Economic Studies panel entitled "Exchange Rate Policies in Transition", in.
An empirical study of exchange rate regimes based on data compiled from member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early s, countries have adopted a wide variety of regimes, ranging from pure Missing: transition book.
Economic Transition and the Exchange-Rate Regime Exchange-rate management poses special challenges in the transition economies of Eastern Europe and the former Soviet Union. These countries are adapting to open, market-based in- ternational trade without prior.
Abstract. The hollowing-out, or two poles hypothesis is tested in the context of a Markov chain model of exchange rate transitions.
In particular, two versions of the hypothesis--that hard pegs are an absorbing state, or that fixes and floats form a closed set, with no transitions to intermediate regimes—are tested using two alternative classifications of regimes. This book – written by leading academics and practitioners in the field – brings together cutting edge research on exchange rate regime and monetary union issues.
There is a particular focus on the implications for member states of the Gulf Cooperation Council which is itself working towards forming a monetary union for the Gulf : Zubair Iqbal.However, the determination of the regime of the exchange rate for the countries in transition has been substantially different compare to the developed ones.
The early researches of Mundells () and McKinnon () argue that economic size and opennessCited by: 1.In this study, panel vector autoregression (PVAR) models are employed to examine the relationships between industrial production growth rate, consumer price inflation, short-term interest rates, stock returns and exchange rate volatility.
More specifically, I explored the consequences of the dynamics detected by the models on monetary policy implementation for 10 OECD : Oguzhan Ozcelebi.