Exchange Rates and the Monetary System: Selected Essays of Peter B. Kenen

Exchange Rates and the Monetary System: Selected Essays of Peter B. Kenen

by Peter B. Kenen

Product Details

Elgar, Edward Publishing, Inc.
Publication date:
Economists of the Twentieth Century Series
Product dimensions:
6.30(w) x 9.06(h) x (d)

Table of Contents

Pt. ITheory
1The Theory of Optimum Currency Areas: An Eclectic View3
2Effects of Intervention and Sterilization in the Short Run and the Long Run23
3Macroeconomic Theory and Policy: How the Closed Economy Was Opened41
4Forward Rates, Interest Rates, and Expectations under Alternative Exchange Rate Regimes94
5The Coordination of Macroeconomic Policies107
6Exchange Rates and Policy Co-ordination in an Asymmetric Model147
7Debt Buybacks and Forgiveness in a Model with Voluntary Repudiation172
8Exchange Rate Arrangements, Seigniorage, and the Provision of Public Goods185
Pt. IIMeasurement
9The Demand for International Reserves227
10Export Instability and Economic Growth236
11The Balance of Payments and Policy Mix: Simulations Based on a U.S. Model249
12Exchange Rates, Domestic Prices, and the Adjustment Process273
13The Role of the Dollar as an International Currency319
14Measuring and Analyzing the Effects of Short-Term Volatility in Real Exchange Rates348
15Intramarginal Intervention in The EMS and the Target-Zone Model of Exchange-Rate Behavior353
Pt. IIIPolicy Prescription
16The Analytics of a Substitution Account365
17Use of the SDR to Supplement or Substitute for Other Means of Finance389
18What Role for IMF Surveillance?423
19Exchange Rate Management: What Role for Intervention?435
20The Use of IMF Credit441
21Organizing Debt Relief: The Need for a New Institution464
22Transitional Arrangements for Trade and Payments among the CMEA Countries476
23The European Central Bank and Monetary Policy in Stage Three of EMU509
24Financial Opening and the Exchange Rate Regime527
Name Index553

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