International exchange regime,in effect,experiences a circle,namely,from fixed exchange regime to floating exchange regime,which is a process of self-negation and spiral growth. 20世纪的国际汇率制度其实一直都在演绎从固定汇率制到浮动汇率制,再从浮动汇率制到固定汇率制这么一种循环,整个过程既自我否定又...
Indeed, the period since 1973 and the break-up of the Bretton Woods exchange rate system has been the first sustained time in history in which the world's major currencies have not been pegged to some form or other of commodity. Such a world of freely floating exchange rates, massive ...
Fixed and floating exchange rates refer to the different exchange rate regimes that countries use to maintain their currency on the world market. A floating currency is allowed to rise or fall depending on global demand, while a fixed currency maintains its value through a government-enforced peg....
Exchange ratesexpenditure switchingwelfareA two-country sticky-price general equilibrium model is used to examine the implications of the expenditure switching effect for the welfare properties of fixed and floating exchange rate regimes. A comparison between the two regimes shows that the volatility of ...
Real Exchange Rate Behaviour under Fixed and Floating Exchange Rate Regimes In this paper we examine the stability of the real exchange rate and the macroeconomic effects of alternative exchange rate regimes, including currency uni... JR Lothian,CH Mccarthy - 《Manchester School》 被引量: 30发表...
In this paper, after introduce the classification of exchange rate regime by IMF, I compare the pros and cons of the two bipolar regimes: Fixed exchange rate regime and floating exchange rate regime in the aspect of reliability, stability, flexibility, monetary policy independent and financial ...
terest rate, i*, so FR shifts down and the IS curve shifts to the left. Under a fixed exchange rate regime, the central bank shifts the LM curve to the right to keep E fixed. Floating (B): Y ↓, i ↓, E ↓ Fixed (C): Y ↓, i ↓, E unchanged ...
regime choice and the role played by the exchange rate in the economy. Approaching the classification of exchange rate regimes from theoretical, practical and historical perspectives, the book discusses pertinent case studies, including the choice of exchange rate regime in the post-conflict case of ...
Free floating exchange rate is determined by the interaction of currency supplies and demands with no government intervention. It always termed “self- correcting’ as if any differences in supply and demand‚ the exchange rate will automatically be corrected in the market Pre...
A two-country sticky-price general equilibrium model is used to examine the implications of the expenditure switching effect for the welfare properties of fixed and floating exchange rate regimes. A comparison between the two regimes shows that the volatility of consumption is unambiguously lower in ...