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Author: Egon Sohmen
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Author: Egon Sohmen
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Author: Anthony Elson
Publisher: Springer Nature
ISBN: 3030835197
Category : Business & Economics
Languages : en
Pages : 205
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Book Description
This book explains how the US dollar serves as the primary reserve currency for the international financial system and assesses its prospects for the future. The book provides an analysis of the main factors that have given rise to the global currency power of the dollar and the key benefits that have accrued to both the United States and other countries from this arrangement. It then considers the growing costs that can be associated with the dollar-centered reserve system and the prospects for the medium-term in terms of its potential threats to global financial stability. In the light of these considerations, the book examines three alternative currency arrangements that could address some or all of the defects associated with the global currency power of the dollar. These include a shift to a multi-reserve currency system, an enhancement of the IMF’s role as an international lender of last resort and provider of global “safe” assets, and the introduction of central bank digital currencies. "A cogent, persuasive and timely look at the dollar's power." Kirkus Reviews
Author: Egon Sohmen
Publisher: Forgotten Books
ISBN: 9780331434392
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Excerpt from International Monetary Problems and the Foreign Exchanges The arrangement of the material may require some explanation. The opening chapter is a rather extensive introduction to some of the current problems of the real world. The systematic exposition of the theoretical groundwork begins with Chapter II. This may appear as a reversal of the logical order of treatment. The reasons for adopting it were frankly psychological: it has been my experience that many readers outside a small circle of theoretically oriented economists want to see for what purposes theoretical analysis is to be used before they are willing to invest time in it. Readers who are not so inclined may just as well start with Chapter II and read the introductory first chapter at the very end. Literature references in the text are kept to a minimum; instead, I have appended an annotated bibliography. Many economists appear to believe that members of our profession ought never to offer clear and unambiguous policy advice. Those who are thus inclined will not, I am afraid, be likely to derive comfort from the following pages. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: G. Harcourt
Publisher: Springer
ISBN: 134918392X
Category : Business & Economics
Languages : en
Pages : 170
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Book Description
Author: José Antonio Ocampo
Publisher: Oxford University Press
ISBN: 019871811X
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Annotation Provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.
Author: Lawrence H. Officer
Publisher: Prentice Hall
ISBN:
Category : Balance of payments
Languages : en
Pages : 264
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Book Description
Author: Peter J. Quirk
Publisher: International Monetary Fund
ISBN: 9781557754806
Category : Business & Economics
Languages : en
Pages : 100
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Book Description
The global trend toward lilberalization in countries international payments and transfer systems has been widespread in both industrial and developing countries and most dramatic in Central and Eastern Europe. Countries in general have brought their exchange systems more in line with market principles and moved toward more flexible exchange rate arrangements. This study updates previous studies published under the title Developments in International Exchange and Payments Systems.
Author: David T. Llewellyn
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 296
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Book Description
This book provides discussion of recent developments in international monetary economics. The chapters are specially written by well known international authors who are specialists in this field and cover current theoretical and policy issues. The topics examined include exchange rate determination and dynamics, stabilisation policy, policy coordination, debt problems and global reform issues. The book is written in an accessible style and will provide students on many relevant courses with up to date information on essential current economic issues.
Author: Camila Casas
Publisher: International Monetary Fund
ISBN: 1484330609
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1589061772
Category : Business & Economics
Languages : en
Pages : 96
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Book Description
This paper reviews developments and issues in the exchange arrangements and currency convertibility of IMF members. Against the backdrop of continuing financial globalization and a series of emerging market crises since 1997, there have been important changes in the evolution of exchange rate regimes and the pace of liberalization of current and capital transactions among IMF member countries. There has been a shift away from intermediate regimes according to the IMF's official exchange rate regime classification system based on de facto exchange rate policies. The de facto exchange rate classification system has helped to clarify the nature and role of members' exchange rate regimes. It has facilitated discussions with country authorities about the implementation of exchange rate regimes and hence has contributed to more effective surveillance of the international monetary system. The use of exchange controls appears to have been little influenced by the degree of flexibility of exchange rate regimes or the occurrences of currency crises.
