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Currency boards in retrospect and prospect
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ISBN: 0262232650 9786612099595 0262286416 1282099590 1435643305 9780262286411 0262309939 9780262232654 9781435643307 9781282099593 9780262309936 6612099593 Year: 2008 Publisher: Cambridge, Mass. MIT Press

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Abstract

Employing economic theory, cross-country empirical comparison and case studies, this work analyses the effect of currency boards on inflation, output growth and macroeconomic performance. The case studies come from Argentina, Estonia Lithuania, Bulgaria and Bosnia and Herzegovina.

Exchange rate regimes
Authors: --- ---
ISBN: 0262273772 0585443912 9780262273770 9780585443911 0262072408 Year: 2002 Publisher: Cambridge, Mass. MIT Press

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An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years.Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early 1970s, countries have adopted a wide variety of regimes, ranging from pure floats at one extreme to currency boards and dollarization at the other. While a vast theoretical literature explores the choice and consequences of exchange rate regimes, the abundance of possible effects makes it difficult to establish clear relationships between regimes and common macroeconomic policy targets such as inflation and growth.This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the experience of some 150 member countries of the International Monetary Fund over the past thirty years. Among other questions, it asks whether pegging the exchange rate leads to lower inflation, whether floating exchange rates are associated with faster output growth, and whether pegged regimes are particularly prone to currency and other crises. The book draws on history and theory to delineate the debate and on standard statistical methods to assess the empirical evidence, and includes a CD-ROM containing the data set used.

Does the exchange rate regime matter for inflation and growth?
Authors: --- --- --- --- --- et al.
ISBN: 1557756147 9781455219407 1455219401 9781557756145 1455265055 9781455265053 1455282049 9781455282043 Year: 1996 Publisher: Washington, D.C.

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Abstract

Although the theoretical relationships are ambiguous, evidence suggestsa strong link between the choice of the exchange rate regime and economicperformance. The paper argues that adopting a pegged exchange rate canlead to lower inflation, but also to slower growth in productivity. Itfinds that on average per capita GDP growth was slightly faster underfloating regimes than under pegged exchange regimes.

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