Exchange Rates, Capital Flows, and Monetary Policy in a Changing World Economy

Exchange Rates, Capital Flows, and Monetary Policy in a Changing World Economy : Proceedings of a Conference Federal Reserve Bank of Dallas Dallas, Texas September 14-15, 1995

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The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.
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Product details

  • Paperback | 242 pages
  • 155 x 235 x 13.72mm | 397g
  • New York, NY, United States
  • English
  • Softcover reprint of the original 1st ed. 1997
  • X, 242 p.
  • 1461378311
  • 9781461378310

Table of contents

Preface. I. Exchange Rates and Monetary Policy. II. Optimal Exchange Rate Policy for Stabilizing Inflation in Developing Countries. Appendix: Exchange Rate Policy and Macroeconomic Stability. III. Exchange Rates and Economic Growth. Appendix: Description of the Data. IV. Speculative Attacks. Appendix: Foreign Exchange Hedging with Synthetic Options and the Interest Rate Defense of a Fixed-Exchange-Rate Regime; Peter M. Garber, Michael G. Spencer. V. Exchange Rates, Capital Flows, Monetary Policy and a Changing World Economy. VI. International Capital Flows: Direct vs. Portfolio Investment. Appendix A: A Survey of Academic Literature on Controls over International Capital Transactions; Michael P. Dooley. Appendix B: Are Recent Capital Inflows to Developing Countries a Vote For or Against Economic Policy Reforms? Michael P. Dooley. VII. Panel Discussion: Central Bank Coordination in the Midst of Exchange Rate Instability.
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