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Carte Too Sensational W. Max Corden

Too Sensational

On the Choice of Exchange Rate Regimes

Autor: W. Max Corden
Limbă: engleză
Legare: Copertă tare
Editura: MIT Press Ltd
Disponibilitate: șansă 50%
Şanse de a obține acest titlu
62.87 lei
Most of the literature on exchange rate regimes has focused on the developed countries. Since the re...

Informații despre carte

Autor
W. Max Corden
Limbă
engleză
Legare
Carte - Copertă tare
Publicat
2002
Pagini
215
EAN
9780262032988
ISBN
0262032988
Enbook ID
04560641
Editura
MIT Press Ltd
Greutate
494
Dimensiuni
152 x 229 x 25

Descriere completă

Most of the literature on exchange rate regimes has focused on the developed countries. Since the recent crises in emerging markets, however, attention has shifted to the choice of exchange rate regimes for developing countries, especially those that are more integrated into the world capital markets. In Too Sensational, W. Max Corden presents a systematic and accessible overview of the choice of exchange rate regimes. Reviewing many types of regimes, he shows how the choice of an exchange rate regime is related to both fiscal policy and trade policy.Building on the theory of optimum currency areas, Corden develops an analytic framework of three approaches (nominal anchor, real targets, and exchange rate stability) and three polar exchange rate regimes (absolutely fixed, pure floating, and fixed but adjustable). He considers all other regimes to be mixtures of two or three of the polar regimes.Beginning with theory and later turning to case studies of countries in Asia, Europe, and Latin America, Corden focuses on how economies react to negative and positive shocks under various exchange rate regimes. He examines in particular the Asian and Latin American currency crises of the 1990s. He concludes that although "too sensational" crises have discredited fixed but adjustable regimes, the extremes of absolutely fixed regimes or pure floating regimes need not be chosen.

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