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Monetary Policy in the Open Economy Revisited : Price Setting and Exchange Rate Flexibility

Devereux, Michael B. - 2000

country-specific shocks are not important, and when a country's monetary sector is stable, the case for freely floating rates …

Persistent link: https://www.econbiz.de/10012471102

"Unusual, Unstable, Complicated, Unreliable and Temporary" Reinterpreting the Ebb and Flow of Globalization

Bordo, Michael D.; Schenk, Catherine R. - National Bureau of Economic Research - 2021

organize: World War I, Bretton Woods, 1970s Great Inflation and Managed Floating. Each turning point was characterized by …

Persistent link: https://www.econbiz.de/10012599404

Exchange Rate Flexibility and the Transmission of Business Cycles

de Macedo, Jorge Braga - 1985

This paper presents a very simple model of the effects of flexible exchange rates in the transmission of business cycles. The starting point is the traditional "locomotive" effect, through exports and imports. Aside from this horizontal transmission, the intertemporal exchange rate model...

Persistent link: https://www.econbiz.de/10012477511

Floating Exchange Rates, Expectations and New Information

Edwards, Sebastian - 1983

This paper analyzes the relationship between forward exchange rates,future spot rates and new information. A stochastic model of exchangerate determination is used to formally show how unanticipated changes in the exchange rate determinants (or "news") affect the spot rate. The empirical...

Persistent link: https://www.econbiz.de/10012478039

Exchange-Rate Policy After a Decade of "Floating"

Branson, William H. - 1982

This paper integrates exchange-rate policy into a model of exchange- rate behavior, and examines the data econometrically to infer hypotheses about policy behavior in the 1970s. The model shows how unanticipated movements in money, the current account, and relative price levels will cause first...

Persistent link: https://www.econbiz.de/10012478199

Macroeconomics of Stagflation under Flexible Exchange Rates

Kouri, Pentti J.K. - 1982

The concerns of macroeconomic policy in the industrial countries in recent years have shifted the focus of open-economy macroeconomics to new and interesting problems. Although no synthesis, or a fully coherent theory of policy, has yet emerged from this research, the results have already led to...

Persistent link: https://www.econbiz.de/10012478243

Wages, Relative Prices, and the Choice between Fixed and Flexible Exchange Rates

Marston, Richard C. - 1981

This paper reexamines the choice between fixed and flexible rates to take into account wage indexation and flexible prices. The model employed is of a small open economy faced by monetary and aggregate demand disturbances originating at ham and abroad. Aggregate supply behavior in this &el...

Persistent link: https://www.econbiz.de/10012478320

Four Observations on Modern International Commercial Policy under Floating Exchange Rates

Richardson, J. David - 1981

This paper describes the essential similarity between "modern" commercial policy, with its rent-like revenues, and capital transfers. Import barriers are shown to have consequently ambiguous effects on nominal and real exchange rates. The paper also examines some important supply-side welfare...

Persistent link: https://www.econbiz.de/10012478400

Inflation, Flexible Exchange Rates, and the Natural Rate of Unemployment

Gordon, Robert J. - 1981

The most important conclusion of this paper is that the growth rate of the money supply influences the U.S. inflation rate more strongly and promptly than in most previous studies, because the flexible exchange rate system has introduced an additional channel of monetary impact, over and above...

Persistent link: https://www.econbiz.de/10012478407

International Transmission under Pegged and Floating Exchange Rates : An Empirical Comparison

Darby, Michael R. - 1980

simulation experiments. Separate versions of the Mark IV model describe the pegged and (dirty) floating exchange regimes. In … absorption transmission. Weaker transmission is generally found under floating exchange rates with a J-curve important in the … control in U.K. and Germany, although less under pegged than floating rates …

Persistent link: https://www.econbiz.de/10012478540