Exchange-Rate Regimes and Capital Flows (The ANNALS of the American Academy of Political and Social Science Series)

  • 296 Pages
  • 1.15 MB
  • 3907 Downloads
  • English

Sage Publications, Inc
Business & Economics / Economics / General, Economics - General, Business & Economics, Business / Economics / Finance, Business/Econ
ContributionsGeorge S. Tavlas (Editor), Michael K. Ulan (Editor)
The Physical Object
FormatPaperback
ID Numbers
Open LibraryOL10907108M
ISBN 100761926011
ISBN 139780761926016

An analysis of the operation and consequences of exchange rate regimes in an era of increasing international interdependence.

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The exchange rate is sometimes called the most important price in a highly globalized world. A country's choice of its exchange rate regime, between government-managed fixed rates and market-determined floating rates has significant implications for.

Get this from a library. Exchange-rate regimes and capital flows. [George S Tavlas; Michael Ulan; Alan W Heston; Neil Alan Weiner; American Academy of Political and Social Science.;] -- Overview: Recent international financial crises have brought the issue of reforming the international financial system to the forefront of debates.

Is the current international monetary. ISBN: OCLC Number: Notes: "January "--Cover and title page. Description: pages: illustrations. Exchange rate regimes in the modern era have shaped trade patterns, capital flows, reserve accumulation, monetary policies, inflation rates, and many other facets of the world economy, including the crisis itself/5(3).

The Exchange-Rate Regimes of East Asia. A common feature related to the exchange-rate regime and foreign exchange policy among East Asian countries is that they tend to maintain a trade surplus, have a high foreign reserve in US dollars, and keep their currencies’ exchange value low in order to support their export sector.

Exchange rate regimes in the modern era have shaped trade patterns, capital flows, reserve accumulation, monetary policies, Exchange-Rate Regimes and Capital Flows book rates, and many other facets of the world economy, including the crisis by: Exchange rate volatility, trade, and capital flows under alternative exchange rate regimes / Piet Sercu, Raman Uppal.

– (Japan-U.S. Center Sanwa monographs on international finance markets) Includes bibliographical references. ISBN (hb) 1. Foreign exchange rates – Mathematical models. Title. Series. III. Uppal.

Edwards () investigated the dynamic association between exchange rate regimes, capital flows and currency crises in emerging economies. The study draws on Author: Sebastian Edwards. TYBRKSLNSO» Exchange Rate Volatility, Trade, and Capital Flows under Alternative Exchange Rate Regimes, Kindle Related Books TJ new concept of the Preschool Quality Education Engineering the daily learning book of: new happy learning young children ( years) Intermediate (3)(Chinese Edition).

capital flows on macroeconomic policy (the so-called impossible trinity or trilemma). Section 2 investigates the impact of foreign interest rates on domestic interest rates under various exchange rate and capital mobility regimes.

Section 3 analyses the indicators of. His work includes analysis of the interaction of exchange rate regimes with monetary policy, capital flows, and trade flows as well as studies of. This volume analyzes Asia’ post crisis experience with using monetary policy to manage the resurgence in capital inflows post crisis.

It also examines the theoretical and policy issues associated with international capital flows, the increasing degree of integration of financial markets and exchange rates for emerging Asian economies more generally.

The implications of capital mobility for growth and stability are some of the most contentious and least understood contemporary issues in economics. In this book Barry Eichengreen discusses historical, theoretical, empirical and policy aspects of the effects, both positive and negative, of.

As a result, a fixed exchange rate can be viewed as a means to regulate flows from capital markets into and out of the country’s capital account.

Details Exchange-Rate Regimes and Capital Flows (The ANNALS of the American Academy of Political and Social Science Series) PDF

Typically, a government maintains a fixed exchange rate by either buying or selling its own currency on the open market. Exchange Rate Regimes, Capital Flows and Crisis Prevention Sebastian Edwards.

NBER Working Paper No. Issued in October NBER Program(s):International Finance and Macroeconomics, International Trade and Investment In this paper I analyze, within the context of the new 'financial architecture,' the relationship between exchange rate regimes, capital flows.

of academic interest is a country’s exchange rate regime.

Description Exchange-Rate Regimes and Capital Flows (The ANNALS of the American Academy of Political and Social Science Series) FB2

This paper investigates the relationship between exchange rate regimes and capital flows to 41 developing countries from to I hypothesize that, all else equal, a fixed exchange rate is associated with moderately larger volumes of capital inflows, compared with a flexible.

Michael Melvin, Stefan Norrbin, in International Money and Finance (Ninth Edition), Monetary Policy Under Floating Exchange Rates. We now consider a world of flexible exchange rates and perfect capital mobility.

The notable difference between the analysis in this section and the fixed exchange rate stories of the previous two sections is that with floating rates the.

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 impossible trinity (also known as the trilemma) is a concept in international economics which states that it is impossible to have all three of the following at the same time. a fixed foreign exchange rate; free capital movement (absence of capital controls); an independent monetary policy; It is both a hypothesis based on the uncovered interest rate parity condition, and a.

Exchange Rate Regimes, Capital Flows and Crisis Prevention Sebastian Edwards NBER Working Paper No. October JEL No. F1, F2, F3, F31, F33 ABSTRACT In this paper I analyze, within the context of the new “financial architecture,” the relationship between exchange rate regimes, capital flows and currency crises in emerging economies.

the exchange rate regime even after its currency reform in In this thesis, I will present research about international capital flows, currency crises and exchange rate regimes, and will in particular focus on the case of China.

International capital flows. Exchange Rate Regimes and Macroeconomic Management in Asia Book Description: With the rise of China, India and the re-emergence of East Asia from the financial crisis of –98, monetary issues in Asia have acquired great significance as the region holds the largest reserves in the world and consequently plays a major role in the global.

Downloadable. The bipolar or two-corner solution view of exchange rates is that intermediate policy regimes between hard pegs and floating are not sustainable.

This paper argues that the proponents of the bipolar view have probably exaggerated their point. The right statement is that for countries open to international capital flows, softly pegged exchange rates are crisis.

Exchange Rate, Equity Prices and Capital Flows Harald Hau, Helene Rey. NBER Working Paper No. Issued in December NBER Program(s):International Finance and Macroeconomics We develop an equilibrium model in which exchange rates, stock prices and capital flows are jointly determined under incomplete forex risk trading.

This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key.

Capital Flows and Exchange Rates floating well in advance of the crisis would have initially increased the current account deficit as the nominal and real exchange rate appreciated. ADVERTISEMENTS: Read this article to learn about the Exchange Rate System in India: Objectives and Reforms.

An exchange-rate regime is the way an authority manages its currency in relation to other currencies and the foreign exchange market. Between the two limits of fixed and freely floating exchange regimes, there can be several other types [ ].

Figure 1. A Spectrum of Exchange Rate Policies. A nation may adopt one of a variety of exchange rate regimes, from floating rates in which the foreign exchange market determines the rates to pegged rates where governments intervene to manage the value of the exchange rate, to a common currency where the nation adopts the currency of another country or group of countries.

Downloadable. Despite increasing capital mobility and the subsequent difficulty in controlling exchange rates, intermediate exchange-rate regimes have remained widespread, especially in emerging and developing economies.

This piece of evidence hardly fits the "impossible Trinity" theory arguing that it becomes difficult to control the exchange rate without a "hard" device.

Downloadable. This paper proposes theoretical and empirical analysis of the effect of capital controls and alternative exchange rate regimes on the patterns of speculative capital. I argue that the exchange rate regime and its interaction with the monetary regime can explain the patterns of speculative capital around the world.

I show that speculative capitals are more. Sercu,Piet & Uppal,Raman, "Exchange Rate Volatility, Trade, and Capital Flows under Alternative Exchange Rate Regimes," Cambridge Books, Cambridge University Cited by: 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 .Exchange Rates and International Capital Flows.

Introduction to Exchange Rates and International Capital Flows. In this chapter, you will learn about: or have the central bank intervene in the exchange rate market. All the choices for exchange rate policy involve distinctive tradeoffs and risks.