Flexible exchange rates for a stable world economy / Joseph E. Gagnon ; with Marc Hinterschweiger.

Format:

Book

Author/Creator:

Gagnon, Joseph E.

Contributor:

Hinterschweiger, Marc.

Language:

English

Subjects (All):

Foreign exchange rates.

Monetary policy.

Physical Description:

xvi, 265 pages : illustrations ; 23 cm

Place of Publication:

Washington, DC : Peterson Institute for International Economics, 2011.

Summary:

The authors (a senior fellow and a research analyst with the Peter G. Peterson Institute of International Economic) examine the theory and empirical evidence concerning exchange rate policy in the advanced economies and leading emerging markets (with some attention to low-income developing economies also included), focusing on the questions surrounding the costs and benefits of flexible versus fixed rates and the proper role of the exchange rate in monetary policy. Their principal finding is that "using monetary policy to fight exchange rate volatility, including through the adoption of a fixed rate regime, leads to greater volatility of employment, output, and inflation." They defend the finding through the presentation of economic models, historical case studies, and statistical analyses. Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)

Contents:

Introduction and overview

A world of multiple monies

Are floating exchange rates too volatile?

Do volatile exchange rates reduce economic output?

Do volatile exchange rates destabilize inflation and output?

Monetary policy with fixed and floating exchange rates

Fiscal policy and exchange rate regimes

Exchange rate regimes in developing economies

Policy conclusions

References

Index.

Notes:

Includes bibliographical references and index.

ISBN:

9780881326277

0881326275

OCLC:

745766066