|
| |
| | Exchange Rate Regime, Speculation And Price Stability In Iraq |
 | | Steady rates are necessary for investors to calculate their costs and returns with some certainty. | | | Up to 1980 the rate was, more or less, reflecting the state of virtually unrestrained current account (of the balance of payments). | | | More flexible-rate regimes are usually recommended to counter terms-of-trade fluctuations, and are prescribed for oil producing countries facing external imbalances in need of international financing. |
|
http://www.mees.com/postedarticles/oped/a47n44d01.htm
(2507 words)
|
|
| |
| | People's Daily Online -- PBOC on reforming the RMB exchange rate regime |
| | RMB exchange rate reform is required to stick to the principle of initiative, controllability and gradualness. | | | PBOC on reforming the RMB exchange rate regime | | | Controllability means that the change of RMB exchange rate is controllable in macrocosmic administration, it should help promote reform and must not run out of control to avoid the emergence of financial market instability and major economic fluctuations. |
|
http://english.people.com.cn/200507/22/eng20050722_197772.html
(1202 words)
|
|
| |
| | Testimony: China's Exchange Rate Regime |
| | It is the overall current and capital-account positions that matter for judging the extent of exchange rate misalignment—not bilateral trade balances or components of the current and capital accounts. | | | The currency regime that served China well over most of the last decade is not the currency regime that will serve China best today or in the future. | | | The primary domestic risk of an undervalued exchange rate is that it will handicap China's efforts to rein-in the pace of credit expansion and to improve the quality of bank lending decisions. |
|
http://www.iie.com/publications/papers/goldstein1003.htm
(2057 words)
|
|
| |
| | International Economics - Historial Exchange Rate Regime of Asian Countries |
| | The practice of establishing a fixed exchange rate with respect to a trade-weighted basket of currencies was terminated. | | | The remaining exchange control regulations were abolished, removing the authorization requirement requirement for financial institutions wishing to deal in foreign exchange. | | | Except for the Australian Dollar and the Pound Sterling, the rate for spot transactions in currencies quoted by the New Zealand commercial banks are based on the closing buying and selling rates of the previous day in London. |
|
http://intl.econ.cuhk.edu.hk/exchange_rate_regime/index.php?cid=35
(1326 words)
|
|
| |
| | EconPapers: Foreign Exchange exposure, corporate financial policies and the exchange rate regime: Evidence from Brazil |
| | One hypothesis in the international finance literature is that fixed exchange rate regimes would increase countries’ vulnerability by leading companies to disregard the exchange rate risk, biasing their borrowing towards foreign currency denominated debt, and/or reducing their hedging activities. | | | Under the floating regime, not only do more companies hedge their exchange rate exposure, but these firms also hedge a larger proportion of their foreign currency denominated debt. | | | Therefore, one mechanism through which the choice of the exchange rate regime could affect countries’ vulnerability would be to exert influence on corporate financial policies. |
|
http://econpapers.repec.org/paper/ecmlatm04/163.htm
(973 words)
|
|
| |
| | JS-774: "China’s Exchange Rate Regime and its Effects on the U.S. Economy" by John B. Taylor Under Secretary |
| | The price of Chinese goods in the United States would not change by as much as the change in the exchange rate, because only a portion of most exports from China are produced in China, and because the retail price in the United States includes marketing, transport, and other logistical costs. | | | It sells yuan in exchange for dollar denominated assets when the demand for the yuan increases and it buys yuan with dollar denominated assets when the demand for the yuan decreases. | | | JS-774: "China’s Exchange Rate Regime and its Effects on the U.S. Economy" by John B. Taylor Under Secretary |
|
http://www.treas.gov/press/releases/js774.htm
(2147 words)
|
|
| |
| | Which Exchange Rate Regime for Asia? |
| | A number of alternative exchange rate regimes have been proposed but there has been little empirical assessment of the consequences of the alternatives for the individual Asian economies. | | | Not surprisingly, given the empirical literature for industrial economies from the last two decades, we find that the appropriate exchange rate regime varies across countries depending on, amongst other things, the economic structure of each country as well as the nature of the shocks hitting each economy, and the target variables that policymakers care about. | | | Following the 1997 economic crisis in Asia there is a continuing debate on the appropriate exchange rate regime for Asian economies. |
|
http://www.brook.edu/views/papers/mckibbin/20040205.htm
(366 words)
|
|
| |
| | Which exchange rate regime for Asia |
| | As this paper demonstrates, the choice of any exchange rate regime for a given country depends on the special characteristics of that country and on the policy choices made by neighboring countries. | | | It offers some preliminary empirical evidence on the impacts of alternative regimes using a global empirical model containing considerable detail on individual Asian economies including both sectoral disaggregation for each economy, macroeconomic features, and the linkages between countries in the region through international trade of goods and financial assets. | | | An important lesson to be drawn from this paper is, that in practice it will be of substantial importance for policymakers to understand how to adjust the exchange rate regime quickly in the event that a shock occurs for which the regime they have adopted doesn’t perform well. |
|
http://www.eldis.org/static/DOC16181.htm
(297 words)
|
|
| |
| | Belarusian Review :: The Exchange Rate Policy for Belarus |
| | As far as monetary and exchange rate policy is concerned, the country becomes an adjunct to the country issuing the currency. | | | rate arrangements other countries are using, and on the long-run goals of economic policy. | | | Meanwhile there is a wide choice of exchange-rate policies is available to choose from ranging from completely fixed to freely floating, with number of options in between. |
|
http://www.belreview.cz/articles/2697.html
(1305 words)
|
|
| |
| | DAtum: [Business] Recovery from cataclysms and exchange rate regime: any dependence? |
| | These results are robust to various modifications, and underscore the importance of the exchange rate in managing real shocks. | | | Now, in case of a natural disaster striking, its growth is expected to rebound much faster than fixed rate regimes (page 31). | | | Any investment in a post-disaster economy (the author cites Bangladesh investing in farm equipment, for e.g.), involves a static cost which would be more or less fixed in terms of cost of living. |
|
http://loxos.blogspot.com/2005/05/business-recovery-from-cataclysms-and.html
(497 words)
|
|
| |
| | Financial Fragility and the Exchange Rate Regime |
| | The banking system, the exchange rate regime, and central bank credit policy are seen as parts of a mechanism intended to maximize social welfare; if the mechanism fails, banking crises and speculative attacks become possible. | | | A fixed exchange rate system may implement the social optimum but is more prone to bank runs and exchange rate crises than a currency board. | | | A flexible exchange rate system implements the social optimum and eliminates runs, provided the exchange rate and central bank lending policies of the central bank are appropriately designed. |
|
http://ideas.repec.org/p/nbr/nberwo/6469.html
(1181 words)
|
|
| |
| | A Look at China's New Exchange Rate Regime (2005-23, 9/9/2005) |
| | As such, the movements in the currency index would not necessarily be representative of the desired path for the renminbi under China's new exchange rate regime, even if the country weights assigned to the index were appropriate. | | | I therefore construct a "narrow" trade-weighted index for China based on trade shares of the 15 countries with trade exceeding $10 billion annually, and a "broad" trade-weighted index based on trade shares of the 22 countries with total trade levels exceeding $5 billion in total trade with China. | | | On July 21, 2005, after more than a decade of strictly pegging the renminbi to the U.S. dollar at an exchange rate of 8.28, the People's Bank of China (PBOC 2005a) announced a revaluation of the currency and a reform of the exchange rate regime. |
|
http://www.frbsf.org/publications/economics/letter/2005/el2005-23.html
(1346 words)
|
|
| |
| | Does the Nominal Exchange Rate Regime Matter? |
| | The relevance of the exchange rate regime for macroeconomic performance remains a key issue in international macroeconomics. | | | Pegged regimes are thus characterized by lower inflation but more pronounced output volatility. | | | First, inflation is both lower and more stable under pegged regimes, reflecting both slower money supply and faster money demand growth. |
|
http://ideas.repec.org/p/nbr/nberwo/5874.html
(476 words)
|
|
| |
| | Searching for an appropriate exchange rate regime |
| | This is important since the costs of exchange rate fluctuations are usually greater for developing countries compared to developed countries. | | | The creation of a soft peg of G-3 currencies, which would benefit from the stability of the G-3 currencies. | | | If developing countries decide to adopt flexible exchange rate regimes, then they must develop mechanisms to manage short term capital flows, while at the same time, strengthening their financial systems |
|
http://www.eldis.org/static/DOC9888.htm
(234 words)
|
|
|
