Managed Floating Plus

Managed Floating Plus

by Morris Goldstein

Paperback(New Edition)

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Product Details

ISBN-13: 9780881323368
Publisher: Peterson Institute for International Economics
Publication date: 03/01/2002
Series: Policy Analyses in International Economi
Edition description: New Edition
Pages: 100
Product dimensions: 5.90(w) x 8.90(h) x 0.30(d)
Age Range: 18 Years

About the Author

Morris Goldstein, nonresident senior fellow, has held several senior staff positions at the International Monetary Fund (1970–94), including Deputy Director of its Research Department (1987–94). From 1994 to 2010, he held the Dennis Weatherstone Senior Fellow position at the Peterson Institute. He has written extensively on international economic policy and on international capital markets.

Table of Contents

1Introduction: What is the Best Currency Regime?1
Dissatisfaction with Currency Regimes2
Why Managed Floating Plus?3
Plan of the Book6
2Methodological Pitfalls in Choosing among Currency Regimes7
Classifying Regimes7
Robustness of Regime Comparisons9
Constraints on Choosing a Regime11
Concluding Note12
3Adjustable Peg Regimes13
4The BBC Regime17
Advantages of BBCs17
Disadvantages of BBCs18
5Currency Boards21
Advantages of Currency Boards21
Drawbacks of Currency Boards24
Currency Boards and Lender-of-Last-Resort Situations29
Summing Up31
Advantages of Dollarization34
Disadvantages of Dollarization37
Summing Up41
7Managed Floating Plus43
What Is a Managed Floating Plus Regime?43
The Case for Managed Floating Plus47
Concluding Remarks67
Table 7.1Share of external debt denominated in the domestic currency, end of 199953
Table 7.2Foreign exchange regulations for banks57

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