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Saturday, July 18, 2020 | History

3 edition of Optimal exchange rate regimes found in the catalog.

Optimal exchange rate regimes

Amartya Lahiri

Optimal exchange rate regimes

turning Mundell-Fleming"s dictum on its head

by Amartya Lahiri

  • 131 Want to read
  • 5 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Foreign exchange rates -- Mathematical models,
  • Macroeconomics

  • Edition Notes

    StatementAmartya Lahiri, Rajesh Singh, Carlos A. Vegh.
    SeriesNBER working paper series -- no. 12684., Working paper series (National Bureau of Economic Research) -- working paper no. 12684.
    ContributionsSingh, Rajesh Kumar, 1961-, Végh Gramont, Carlos A., 1958-, National Bureau of Economic Research.
    The Physical Object
    Pagination22 p. ;
    Number of Pages22
    ID Numbers
    Open LibraryOL17631674M
    OCLC/WorldCa76269897

    Jan 18,  · Macroeconomic performance under various exchange rate regimes is assessed, followed by a survey of models of exchange rate regime choice. Some factual case studies are presented and related to the theoretical foundations, including the choice of . an exchange rate peg. We show that a key difference among these regimes lies in the relative amount of exchange rate volatility that they entail. We also discuss a special case for which domestic inflation targeting constitutes the optimal policy, and where a simple second order approximation to the utility of.

    Exchange Rates, Optimal Debt Composition and Hedging in Small Open Economies Jose Berrospide* University of Michigan Job Market Paper January Abstract This paper develops a model of the choice between local and foreign currency debt by firms facing exchange rate risk and hedging possibilities in small open economies. Evolution of India’s exchange rate regime Ashima Goyal I. Introduction There has been considerable evolution in India’s exchange rate regime over the reform years1. The shift has been from a nominal fix to one-way nominal movement over the nineties to two .

    The single most important aspect of an exchange rate regime is the degree of flexibility. The matter is of course more complicated than a simple choice between fixed exchange rate and floating. One can array exchange rate regimes along a continuum, from most flexible to least, and grouped in three major categories: I. Floating corner 1. Free. the exchange rate regimes have on inflation management. Empirical studies on exchange rate regimes and inflation have also appeared to have shown mixed findings. While a number of empirical studies found that various forms of fixed exchange rates indeed lower inflation, other studies found the exchange rate to be an ineffective nominal anchor.


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Optimal exchange rate regimes by Amartya Lahiri Download PDF EPUB FB2

CHOOSING AN OPTIMAL EXCHANGE RATE REGIME: A CRITICAL LITERATURE REVIEW Mustapha ZIKY*1 Aleksander BERENTSEN** Mariam OUCHEN *** ABSTRACT: This paper critically reviews the theoretical and empirical literature on the choice of exchange rate michellemadsenpoet.comgh much has been learned in each approach, thisAuthor: Mustapha Ziky, Aleksander Berentsen, Mariam Ouchen.

No legal tender of their own US dollar as legal tender. British Virgin Islands Caribbean Netherlands Ecuador El Salvador Marshall Islands Micronesia Palau Timor-Leste Turks and Caicos Islands Zimbabwe Optimal exchange rate regimes book as legal tender.

Andorra Kosovo Monaco Montenegro San Marino Vatican City Australian dollar as legal tender. Kiribati Nauru Tuvalu Swiss franc as legal tender. These papers evaluated the optimality of exchange rate regimes on ad hoc criteria, generally involving variance of output and inflation.

We investigate the optimality of exchange rate regimes from a welfare maximization standpoint. Others have studied the welfare properties of al. The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production.

whether prices are set in the currency of producers or the currency of consumers in determining the optimality of exchange-rate regimes in an environment of uncertainty created by monetary shocks. We find that when prices are set in producers. One of the most important and recent issues for the last decade in international finance, is the choice of an optimal Exchange Rate Regime for emerging and developing countries, because it stands.

The optimal exchange rate regime for a small country. This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the. "On the endogeneity of exchange rate regimes," UC3M Working papers. Economics we, Universidad Carlos III de Madrid.

Departamento de Economía. Levy-Yeyati, Eduardo & Sturzenegger, Federico & Reggio, Iliana, "On the Endogeneity of Exchange Rate Regimes," Working Paper Series rwp, Harvard University, John F. Kennedy School of. The relation between the exchange rate regime and output volatility is also a channel with a long tradition in international finance, and one of the key links underlying the debate on optimal currency areas.

It involves understanding the role played by the exchange rate as shock absorbers: under floating exchange rates, the economy has a greater ability to adjust to “real” external shocks.

Some characteristics of the floating exchange rate system The flexible exchange rate system has Exchange Rate Determination and Optimal Economic Policy Under Various Exchange Rate Regimes. Authors Downloads; Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume ) Log in to check access.

This paper examines optimal exchange-rate policy in two-country sticky-price general equilibrium models in which households and firms optimize over an infinite horizon in an environment of uncertainty. The models are in the vein of the new open-economy macroeconomics' as exemplified by Obstfeld and.

Michael Devereux & Charles Engel, "The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production," Discussion Papers in Economics at the University of WashingtonDepartment of Economics at the University of Washington.

Michael. Get this from a library. Optimal and sustainable exchange rate regimes: a simple game-theoretic approach. [Masahiro Kawai; International Monetary Fund.

Research Department,] -- 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. The study's findings are: first, fluctuations in trade balances had negative effects on the economics of Algeria, Kuwait, Libya, Saudi Arabia, and the United Arab Emirates.

Second, the current exchange rate regime of no sample country is optimal in minimizing trade balance fluctuations. fixed (or pegged) exchange rate regimes, where the currency is tied to another currency, mostly reserve currencies such as the U.S.

dollar or the euro or the British Pound Sterling or a basket of currencies, or; floating (or flexible) exchange rate regimes, where the economy dictates movements in. The exchange rate between two currencies may be determined in international foreign exchange markets or in a government office.

If an exchange rate — say, the yen–dollar rate — is determined in international foreign exchange markets based on the demand for and supply of the yen, then the markets determine the exchange rate.

This situation [ ]. North-Holland OPTIMAL PORTFOLIO CHOICE AND THE COLLAPSE F A F13&ED-EXCHANGE RATE REGIME Alessandro PENATI ~IKROS s.p.a. and Bocconi University, Milan, Italy George PENNACCHI* Department of Finance, The Wharton School, University of Pennsylvania, Philadelphia, PAUSA Received Octoberrevised version received July A model is Cited by: Dec 02,  · To view the rest of this content please follow the download PDF link above.

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.

While a fixed exchange rate with capital mobility is a well‐. The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production Michael B. Devereux optimality of exchange-rate regimes in an environment of uncertainty created by monetary shocks.

We find that when prices are set in producers’ currencies, floating exchange rates are preferred when the. methodology for the of exchange rate regimes with a more clear classification (de facto).

This paper is outlined as follows; in the first section, we present the literature review of the relationship between the exchange rate regime and economic growth. In the second section, we. An Empirical Analysis of the Exchange Rate Regime in the Republic of Macedonia The optimal exchange rate and monetary regimes have been an issue of discussion since the beginning targeting the exchange rate has proven very successful on stabilization prices level of the michellemadsenpoet.com: Murat Sadiku, Fluturim Saliu, Luljeta Sadiku.May 17,  · Read Exchange Rate Determination and Optimal Economic Policy Under Various Exchange Rate Regimes.

Report. Browse more videos. Playing next. READ book Exchange Rate Regimes Fixed Flexible or Something in Between Full EBook.

quinnbattle. Read Exchange Rate Regimes: Fixed Flexible or Something in Between?.Jul 09,  · > Is there an Optimal Exchange Rate Regime? Is there an Optimal Exchange Rate Regime?

is a school of thought within the professional which argues that in the years to come there will be only two types of exchange rate regimes: truly fixed rate arrangements like currency unions or currency boards, or truly market determined, independently.