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Exchange Rate Regimes and the Stability of the International Monetary System
Ghosh, Atish R.; Ostry, Jonathan David; Tsangarides, … - International Monetary Fund (IMF) - 2011
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...
Persistent link: https://www.econbiz.de/10010790495
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International Liquidity and the Role of the SDR in the International Monetary System
Polak, J. J.; Clark, Peter B. - International Monetary Fund (IMF) - 2002
This paper describes how the changed conditions in the international monetary system have undermined the role originally envisaged for the SDR. It argues that the concept of a global stock of international liquidity, which was fundamental to the creation of the SDR, is now no longer relevant....
Persistent link: https://www.econbiz.de/10005769234
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The Debate on the International Monetary System
Lago, Isabelle Mateos y; Duttagupta, Rupa; Goyal, Rishi - International Monetary Fund (IMF) - 2009
Persistent link: https://www.econbiz.de/10010790468
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Internationalization of Emerging Market Currencies; A Balance Between Risks and Rewards
Ahmed, Faisal; Wang, Shengzu; Lago, Isabelle Mateos y; … - International Monetary Fund (IMF) - 2011
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...
Persistent link: https://www.econbiz.de/10011245894
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Exchange Rates in the Periphery and International Adjustment Under the Gold Standard
Catão, Luis; Solomou, Solomos - International Monetary Fund (IMF) - 2003
The role of exchange rate flexibility in the periphery of the gold standard has been grossly overlooked. This paper builds a new dataset on trade-weighed exchange rates for the period 1870-1913 and finds that large currency movements in periphery countries operating inconvertible paper-money and...
Persistent link: https://www.econbiz.de/10005769107
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Exchange Rate Regime Choice in Historical Perspective
Bordo, Michael D. - International Monetary Fund (IMF) - 2003
In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the...
Persistent link: https://www.econbiz.de/10005599457
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Why White, Not Keynes? Inventing the Post-War International Monetary System
Boughton, James M. - International Monetary Fund (IMF) - 2002
The international monetary system is largely the product of negotiations during World War II between U.S. and U …
Persistent link: https://www.econbiz.de/10005604817
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Why Do Countries Peg the Way they Peg? the Determinants of Anchor Currency Choice
Oomes, Nienke; Meissner, Christopher M. - International Monetary Fund (IMF) - 2008
What determines the currency to which countries peg or "anchor" their exchange rate? Data for over 100 countries between 1980 and 1998 reveal that trade network externalities are a key determinant. This implies that anchor currency choice may well be suboptimal in that certain currencies, e.g.,...
Persistent link: https://www.econbiz.de/10005605395
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Yen Bloc or Yuan Bloc; An Analysis of Currency Arrangements in East Asia
Shirono, Kazuko - International Monetary Fund (IMF) - 2009
This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of … generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall …, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue …
Persistent link: https://www.econbiz.de/10005826046
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Unconventional Central Bank Measures for Emerging Economies
Stone, Mark R.; Yehoue, Etienne B.; Ishi, Kotaro - International Monetary Fund (IMF) - 2009
Unconventional central bank measures are playing a key policy role for many advanced economies in the 2007-09 global crisis. Are they playing a similar role for emerging economies? Emerging economies have widely used unconventional foreign exchange and domestic short-term liquidity easing...
Persistent link: https://www.econbiz.de/10008540919