Similar Search Results

From a Fixed Exchange Rate Regime to Inflation Targeting

Kleivset, Christoffer - 2013

This paper documents Norges Bank's role in the long transition period from a fixed exchange rate regime to inflation targeting in Norway. It is shown that the Bank's leadership and influential department leaders wanted more exchange rate flexibility from early on. However, due to the division of...

Persistent link: https://www.econbiz.de/10014158288

The political choice and collapse of fixed exchange rates

Hefeker, Carsten - 1995

Evidence suggests there is a strong tendency among states to choose fixed exchange rates. Yet he interpretation of fixed exchange rates as a monetary policy rule remains unconvincing. Adopting an endogenous policy perspective, this paper argues that political-support maximizing governments...

Persistent link: https://www.econbiz.de/10009681117

How to increase the value of bilateral trade? : currency union versus fixed exchange rate regime

Stoykova, Oleksandra Ivanievna - In: Entrepreneurial business and economics review : EBER 9 (2021) 2, pp. 21-38

Objective: The objective of the article is to determine which exchange rate regime provides higher bilateral trade: fixed rate or currency union. Research Design & Methods: An index was designed based on variables commonly recognised as those that might affect the value of bilateral trade and...

Persistent link: https://www.econbiz.de/10012520004

Good Housekeeping? Reputation, Fixed Exchange Rates, and the 'Original Sin' Problem

Gai, Prasanna - 2007

This paper examines how the choice of exchange rate regime can signal financial rectitude and, in so doing, influence a country's ability to borrow internationally in domestic currency. We develop a model in which the constant probability of a 'type change' creates incentives for disciplined...

Persistent link: https://www.econbiz.de/10012729343

Dual Currency Boards : A Proposal for Currency Stability

Oppers, Stefan Erik - 2021

This paper shows that extending the convertibility guarantee of the traditional currency board to a second reserve currency brings about an automatic, market-driven change of the peg when the initial reserve currency appreciates beyond a specified level. The dual currency board thus maintains...

Persistent link: https://www.econbiz.de/10013317750

An Interest Rate Defense of a Fixed Exchange Rate?

Flood, Robert P.; Jeanne, Olivier - 2021

Defending a government's exchange-rate commitment with active interest rate policy is not an option in the Krugman-Flood-Garber (KFG) model of speculative attacks. In that model, the interest rate is the passive reflection of currency-depreciation expectations. In this paper we show how to adapt...

Persistent link: https://www.econbiz.de/10013317817

The Argentinean currency crisis : a Markov-switching model estimation

Alvarez Plata, Patricia; Schrooten, Mechthild - 2003

Despite the fact that Argentina has been suffering from a recession for years, the timing and severity of the recent currency crisis surprised most observers. This paper analyzes the role of fundamentals and self-fulfilling speculation in the Argentinean crisis. Arguing within a theoretical...

Persistent link: https://www.econbiz.de/10011438487

The Argentinian currency crisis : a markov-switching model estimation

Alvarez Plata, Patricia - 2003

Persistent link: https://www.econbiz.de/10013436296

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

When countries do not do what they say : systematic discrepancies between exchange rate regime announcements and de facto policies

Bersch, Julia; Klüh, Ulrich - 2007

We study the apparent disconnect between what countries announce to be their exchange rate regime and what they de facto implement. Even though discrepancies between announcements and de facto polices are frequent, there is a lack of understanding of actual patterns and underlying reasons. We...

Persistent link: https://www.econbiz.de/10003951455