Last edited by Daikree
Tuesday, July 21, 2020 | History

7 edition of Exchange Rate Regimes found in the catalog.

Exchange Rate Regimes

Fixed, Flexible or Something in Between

by Imad A. Moosa

  • 110 Want to read
  • 18 Currently reading

Published by Palgrave Macmillan .
Written in English

    Subjects:
  • Monetary economics,
  • Foreign exchange rates,
  • Macroeconomics,
  • Business & Economics,
  • Business / Economics / Finance,
  • Business/Economics,
  • Money & Monetary Policy,
  • Business & Economics / Macroeconomics,
  • Economics - Macroeconomics,
  • Economics - Theory,
  • Foreign Exchange

  • The Physical Object
    FormatHardcover
    Number of Pages288
    ID Numbers
    Open LibraryOL8399652M
    ISBN 101403936722
    ISBN 109781403936721

    exchange rate regimes tended to be “bipolar”—that is, sub-Saharan African countries were moving to either a peg or to a float, thereby “hollowing out” the group of intermediate exchange rate regimes (see shaded part of Figure ). During – EXCHANGE RATES IN THE 18TH AND 19TH CENTURIES The dominant monetary arrangement in the 18th and 19th centuries was a spicie standard (e.g. gold or silver standard) A specie standard is essentially a fixed exchange rate regime.

      The exchange rate management (that is contractionary devaluation and real exchange rate rules) via exchange rate regimes is the purposed subject of this chapter, that is, consideration of open macroeconomic development policies for emerging markets. We take up three issues related to exchange rates in emerging countries for discussion. Modern Exchange Rate Regimes. Currently, most governments use one of three different exchange rate systems: Managed Floating Exchange Rate – This is the system that most developed nations use. In this system, the currency is allowed to float against all other currencies thereby letting market forces determine the value of the : Forextraders.

      Central Bank News has compiled the below table which summarizes countries' currencies, ISO codes, and currency regime. Currency regime refers to the manner in which the currency is traded, a floating currency will trade in the market and have its exchange rate determined by the balance of supply and demand and underlying fundamentals. Book Description: 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 monetary policy, trade, and macroeconomic outcomes, and is the subject of both academic and policy debate.


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Exchange Rate Regimes by Imad A. Moosa Download PDF EPUB FB2

In this book, two leading economists examine the operation and consequences of exchange rate regimes in an era of increasing international l Klein and Jay Shambaugh focus on the evolution of exchange rate regimes in the modern era, the period sincewhich followed the Bretton Woods era of –72 and the pre-World.

The book is split into four sections, firstly- an introduction to modern exchange rate regimes (this is very short and just sets stage and discusses the books contents), the theory and practice of exchange rate regimes, to the exchange rate consequences of exchange rate regimes and finally the economic consequences of exchange rate by:   The book is split into Exchange Rate Regimes book sections, firstly- an introduction to modern exchange rate regimes (this is very short and just sets stage and discusses the books contents), the theory and practice of exchange rate regimes, to the exchange rate consequences of exchange rate regimes and finally the economic consequences of exchange rate regimes/5(3).

An exchange rate regime is the system that a country’s monetary authority, -generally the central bank- adopts to establish the exchange rate of its own currency against other currencies. Each country is free to adopt the exchange-rate regime that it considers optimal, and will do so using mostly monetary Exchange Rate Regimes book sometimes even fiscal policies.

The distinction amongst these exchange rates. M.W. Klein, in Handbook of Safeguarding Global Financial Stability, Conclusion. The choice of the exchange rate regime is one of the central macroeconomic decisions made by a government. This choice affects both a key price in the economy and the conduct of monetary policy.

Sincethere has been a wide variety of choices of the exchange rate regime, with some countries choosing to. If the exchange rate is mainly determined in international foreign exchange markets, it’s called a floating exchange rate regime.

Exchange rates involving developed countries’ currencies, such as the U.S. dollar, the euro, the pound, the yen, and the Swiss franc, are determined in foreign exchange. 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 Euro as legal tender.

Andorra Kosovo Monaco Montenegro San Marino Vatican City Australian dollar as legal tender. Kiribati Nauru Tuvalu Swiss franc as legal tender.

With the outbreak of the two World Wars in andstable exchange rate regimes had gone completely haywire. The Bretton Woods system was established. Types of Exchange Rates Fixed Exchange Rate.

A fixed exchange rate, also known as the pegged exchange rate, is “pegged” or linked to another currency or asset (often gold) to derive its value.

Such an exchange rate mechanism ensures the stability of the exchange rates by linking it to a stable currency itself. Hence, the purpose of this study is to revisit the effects of exchange rate regimes on inflation in BRICS countries. The data used for this research covers over the period from to This study finds that BRICS countries under the Pegged exchange rate regime have lower inflation rate compare to those under the non-Pegged exchange rate.

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 regimes, ranging from pure. This book – written by leading academics and practitioners in the field – brings together cutting edge research on exchange rate regime and monetary union issues.

There is a particular focus on the implications for member states of the Gulf Cooperation Council which is itself working towards forming a monetary union for the Gulf States.

Downloadable. We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information content of various monetary aggregates in developing countries. We conclude that a high degree of currency substitution argues for a more fixed exchange rate regime, while asset substitution may imply that either more rigid or more flexible regimes may be.

In a fixed exchange rate regime, the entire institutional infrastructure is geared towards identifying evasion of foreign exchange controls and imposing penal punishments. A fixed exchange rate creates a flourishing parallel market for foreign exchange in which the ‘true’ value of the domestic currency is determined by market forces.

Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate regimes. The Latin American experience can be informative because some of its largest countries adopted floating exchange rate regimes and inflation targeting while continuing to intervene in foreign.

This book explores the exchange rate regime choice and the role played by the exchange rate in the economy. Approaching the classification of exchange rate regimes from theoretical, practical and historical perspectives, the book discusses pertinent case studies, including the choice of exchange rate regime in the post-conflict case of Iraq.

Table "Exchange Rate Regimes" shows the selected set of countries followed by a currency regime. Notice that many currencies—including the U.S.

dollar, the Japanese yen, the Brazilian real, the South Korean won, and the South African rand—are independently floating, meaning that their exchange values are determined in the private market on the basis of supply and demand.

Exchange rate regimes when money is fiat (no metallic standard). Fiat currency has no intrinsic value and doesn’t lead to a specific exchange rate regime. In this case, countries decide about their exchange rate regime. When the last metallic standard period (or a variation of it) ended inmoney in all countries was fiat money.

In a fixed exchange rate regime, the entire institutional infrastructure is geared towards identifying evasion of foreign exchange controls and imposing penal punishments.

A fixed exchange rate creates a flourishing parallel market for foreign exchange in which the ‘true’ value of the domestic currency is determined by market forces.

Finally, the adoption of a flexible exchange rate regime desired by Cedeao would increase the significant risks in terms of monetary shocks for Uemoa economies, particularly those that have increased their use of foreign currency borrowing in recent years.

Years. years," says S-P, recalling the conclusion of one of its reports on the. Exchange Rate: An exchange rate is the price of a nation’s currency in terms of another currency.

Thus, an exchange rate has two components, the domestic currency and a .This finding was supported by Ghosh et al. () in a cross-sectional study of exchange rate and inflation, which found that inflation averaged 7 percent in countries with fixed exchange rate regimes, 13 percent in countries that had frequent revisions of exchange rate parity, and 17 percent in countries with more flexible regimes.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 issues that policymakers.