Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of Macroeconomic Policies: Recent Experiences of Selected Developing Latin American Economies
This work analyzes the phenomenon of macroeconomic adjustment, with special emphasis on selected Latin American countries facing stabilization programmes. It provides a historical description of the origins, functioning and collapse of exchange-rate regimes from the international classical gold standard period to modern arrangements. The author supports the argument that systemic asymmetries in the worldwide adjustment mechanism are inherent in the international monetary system.
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Origins and Functioning of Modern ExchangeRate Regimes
Revisiting the Rules
Conceptual Monetary Differences
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Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of ...
MARIA LUIZA FALCAO. SILVA
No preview available - 2020
According adjustment adoption analysis anchor approach Argentina argued argument arrangements balance band become behaviour Brazil Bretton Woods capital capital inflows cause central bank changes Chapter commitment considered cost credibility crisis currency debt deficit demand determined devaluation developing countries discussion dollar domestic economy effects equilibrium examined example exchange rate exchange-rate regimes expectations experience exports external fact Figure fiscal fixed fixed exchange floating flows fluctuations foreign reserves function fundamentals gold standard growth idea implemented important increase inflation integration interest interest rates investment issue Latin American leading limits liquidity macroeconomic markets mechanism Mexico monetary base monetary policy movements neutral nominal parity payments percent period position presented problem production recent relation relative result role rules shocks Source stabilisation programmes stability suggests supply Table trade United