Actions for Fixed or Floating Exchange Regimes [electronic resource]: Does It Matter for Inflation?

Email RIS file
Bookmark
Report an Issue

Fixed or Floating Exchange Regimes [electronic resource]: Does It Matter for Inflation?

Author
Quirk, Peter J.
Published
Washington : International Monetary Fund Nov. 1994
Access Online

Availability

I Want It
I Want It

Finding items...

Restrictions on Access
License restrictions may limit access.
Summary
Annotation This paper reviews recent experience with the choice of floating or fixed (anchor) exchange regimes in industrial and developing countries. It concludes that desirable differences between the two sets of regimes have narrowed, owing to the useful operational role of exchange rate margins and unavoidable medium-term rate adjustments in the context of fixed regimes. a survey of recent empirical cross-country literature also suggests little unambiguous association of the choice of exchange regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has generally been a by-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility depend on the country-specific assignments of policy instruments to more than one institution--central bank, government, or regional and multilateral institutions.
Genre(s)
ISBN
9781451855531
1451855532 (Trade Paper)
View MARC record | catkey: 44814481