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Persistent link: https://www.econbiz.de/10003847786
Using the indexes we developed (Aizenman, Chinn, and Ito, 2008) to measure the degree of the three policy choices countries make with respect to the trilemma: exchange rate stability, monetary independence, and capital account openness, we investigate the normative questions pertaining to the...
Persistent link: https://www.econbiz.de/10003854752
We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma during the post Bretton-Woods period. The paper first outlines the new metrics for measuring the degree of exchange rate flexibility, monetary independence, and capital account...
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We characterize the relationship between ex post exchange rate depreciation and the interest differential for a set of countries that spans both developed and emerging market economies. Measured ex post uncovered interest differentials are then related to measures of trade and financial...
Persistent link: https://www.econbiz.de/10003855141
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the world's central banks. Significant factors include: size of the home country, inflation rate (or lagged depreciation … dollar and euro over the period 1999-2004. Whether the euro might in the future rival or surpass the dollar as the world … it becomes larger than the US economy, and (2) does US macroeconomic policy eventually undermine confidence in the value …
Persistent link: https://www.econbiz.de/10003855348
Computer and Internet use, especially in developing countries, has expanded rapidly in recent years. Even in light of this expansion in technology adoption rates, penetration rates differ markedly between developed and developing countries and across developing countries. To identify the...
Persistent link: https://www.econbiz.de/10003855364
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