Approaches to Exchange Rate Policy
Richard C. Bart, Chorng-Huey Wong
International Monetary Fund, Jun 1, 1994 - Business & Economics - 298 pages
External sector policies and exchange rate policy are central to a country's economic performance and to the IMF's surveillance functions. The papers in this book, edited by Richard Barth and Chorng-Huey Wong, were presented at a seminar on Exchange Rate Policy in Developing and Transition Economies held by the IMF Institute. They analyze choices of exchange rate regimes, issues affecting management of exchange regimes, and specific types of regimes, including case studies from the former Soviet Union, Africa, Asia, and Latin America.
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The Choice of an Exchange Rate Regime
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Argentina balance of payments beneﬁts Brazil capital account capital ﬂows capital mobility central bank CFA franc CFA franc zone Chile competitiveness crawling peg credibility current account debt depreciation developing countries difﬁcult dollar domestic price economic policy exchange controls exchange rate policy exchange rate regime exchange rate system exchange rate-based export external ﬁnancial ﬁnancing ﬁrst ﬁscal policy ﬁve ﬁxed exchange rate ﬁxed rate ﬂexible exchange rate ﬂoating rate foreign exchange market growth important increase indexation inﬂation rate inﬂationary inﬂuence initial International Monetary Fund international reserves issue liberalization macroeconomic ment Mexico misalignment Monetary Fund monetary policy monetary union money supply multiple exchange rate nominal exchange rate nontraded ofﬁcial rate output parallel market percent problems real appreciation real exchange rate real interest rates reﬂect reform relative price restrictions result ruble area signiﬁcant sufﬁciently tariffs terms of trade tion tradables uniﬁed variables wage World Bank