Managed floating plus / Morris Goldstein.

Format:

Book

Author/Creator:

Goldstein, Morris, 1944-

Series:

Policy analyses in international economics ; 66.

Policy analyses in international economics ; 66

Language:

English

Subjects (All):

Foreign exchange administration.

Foreign exchange rates.

Currency question.

Devaluation of currency.

Dollar, American.

Physical Description:

xi, 85 pages ; 23 cm.

Place of Publication:

Washington, DC : Institute for International Economics, 2002.

Contents:

1 Introduction: What is the Best Currency Regime? 1

Dissatisfaction with Currency Regimes 2

Why Managed Floating Plus? 3

Plan of the Book 6

2 Methodological Pitfalls in Choosing among Currency Regimes 7

Classifying Regimes 7

Robustness of Regime Comparisons 9

Constraints on Choosing a Regime 11

3 Adjustable Peg Regimes 13

4 The BBC Regime 17

Advantages of BBCs 17

Disadvantages of BBCs 18

5 Currency Boards 21

Advantages of Currency Boards 21

Drawbacks of Currency Boards 24

Currency Boards and Lender-of-Last-Resort Situations 29

6 Dollarization 33

Advantages of Dollarization 34

Disadvantages of Dollarization 37

7 Managed Floating Plus 43

What Is a Managed Floating Plus Regime? 43

The Case for Managed Floating Plus 47

Table 7.1 Share of external debt denominated in the domestic currency, end of 1999 53

Table 7.2 Foreign exchange regulations for banks 57.

Notes:

Includes bibliographical references (pages 69-75) and index.

ISBN:

0881323365

OCLC:

49250072