Credibility and discipline effects of exchange rates as nominal anchors: the need to distinguish temporary from permanent pegs
Article Abstract:
A study was conducted to analyze the use of exchange-rate pegs as nominal anchors for anti-inflationary policies, with emphasis on the need to differentiate between temporary from permanent pegs. The case of intermediate degrees of commitment and studies on exchange-rate based stabilization efforts were also examined. Results indicated the need to evaluate exchange-rate based programs to accommodate quick and significant credibility gains, and to prevent insufficiencies associated with successful stabilization.
Publication Name: World Economy
Subject: Economics
ISSN: 0378-5920
Year: 1998
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The Falsification of Four Popular Hypotheses About the Asian Crisis
Article Abstract:
The authors support a multi-causal explanation for the Asian financial crisis, drawing from popular hypotheses but avoiding the adoption of one single hypothesis as the cause. Topics discussed include the role of hedge funds and portfolio investors, moral hazard and crisis prediction, common lenders, and rational investor ignorance.
Publication Name: World Economy
Subject: Economics
ISSN: 0378-5920
Year: 2004
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Is the Yen/Dollar Exchange Rate Really Responsible for East Asia's Export and Business Cycles? A Commentary on McKinnon and Schnabl (2003)
Article Abstract:
An argument is presented positing that East Asia's business and export cycles are more likely influenced by cyclical fluctuations in the electronics industry than by the yen/dollar exchange rate, and that the region's industrial competitiveness is not linked to this exchange rate.
Publication Name: World Economy
Subject: Economics
ISSN: 0378-5920
Year: 2005
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