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Inflation Targeting as the New Golden Standard

Spivak, Avia; Sussman, Nathan - C.E.P.R. Discussion Papers - 2008

limited deviation was possible within the 'gold points'. On the other hand, the credibility of inflation targeting regime is …

Persistent link: https://www.econbiz.de/10005124404

Will You Buy My Peg? : The Credibility of a Fixed Exchange Rate Regime as a Determinant of Bilateral Trade

Fritz-Krockow, Bernhard - 2006

supports the argument that the credibility of an exchange rate peg is an important element to determine bilateral trade. There …

Persistent link: https://www.econbiz.de/10012783128

The Credibility of the Venezuela Crawling-Band System

Campos, María Isabel; Torres, José L.; Villegas, Esmeralda - 2007

This paper studies the credibility of the Venezuela crawling-band exchange rate regime during the period July, 1996 … - February, 2002. We show that, introducing some modifications, the credibility analysis widely applied to target zone regimes … can also be used in studying the credibility of crawling-band regimes. In analyzing the credibility of the Venezuela …

Persistent link: https://www.econbiz.de/10014053405

Monetary Policy, Credibility and Asymmetries : Small African Countries and the EMU Advent

Andre, Nyembwe - Institut de Recherche Économique et Sociale (IRES), … - 2003

As a country sets a pig of its currency, the monetary policy credibility it expects to gain implies that the anti … attacks against the currency parity. This is an insight from models of credibility in monetary policy through fixed exchange …

Persistent link: https://www.econbiz.de/10004985052

Subprime and euro crisis: Should we blame the economists?

Spahn, Peter - 2013

Economists in the public are accused of propagating highly professional, but unrealistic theories that mislead market agents and policy makers to place too much confidence in rational behaviour and market equilibrium. The paper analyses to what extent the US banking crisis and the euro crisis...

Persistent link: https://www.econbiz.de/10010326821

Pegxit Pressure: Evidence from the Classical Gold Standard

Mitchener, Kris James; Pina, Gonçalo - 2016

We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the likelihood of an expected currency devaluation. Using a new high-frequency data set on...

Persistent link: https://www.econbiz.de/10011584911

China's dominance hypothesis and the emergence of a tri-polar global currency system

Fratzscher, Marcel; Mehl, Arnaud - 2011

This paper assesses whether the international monetary system is already tripolar and centred around the US dollar, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi is already the dominant currency in Asia,...

Persistent link: https://www.econbiz.de/10011605438

A brief history of payment netting and settlement

Bindseil, Ulrich; Pantelopoulos, George - 2022

In earlier times, societies relied extensively on "IOUs" ("I owe you") to avert the need for settlement in specie. However, an IOU reliant economy is complex and fraught with financial stability risks. These problems can be overcome through clearing, netting and settlement, either without or...

Persistent link: https://www.econbiz.de/10013415132

Ragnar Nurkse and the international financial architecture

Eichengreen, Barry - In: Baltic Journal of Economics 18 (2018) 2, pp. 118-128

This lecture discusses the work by the Estonian economist Ragnar Nurkse (1907-1959). It focuses on the early Nurkse, who was concerned with exchange rates, capital flows and what today we call the international financial architecture. It asks how many of the conclusions of International Currency...

Persistent link: https://www.econbiz.de/10013470727

Going Dutch: How the Netherlands Escaped its Golden Fetters, 1925-1936

Colvin, Christopher L.; Fliers, Philip T. - 2021

The interwar gold standard is long thought to have prevented central bankers from running an independent monetary policy, forcing governments to leave this fixed exchange rate system in order to take control over domestic policy. But our study of the day-to-day management of monetary policy in...

Persistent link: https://www.econbiz.de/10014284480