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Author: Barbara Gottfried Hollander
Publisher: The Rosen Publishing Group, Inc
ISBN: 1448823773
Category : Juvenile Nonfiction
Languages : en
Pages : 82
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Book Description
Explains currency devaluation, its causes, and its effects.
Author: Barbara Gottfried Hollander
Publisher: The Rosen Publishing Group, Inc
ISBN: 1448823773
Category : Juvenile Nonfiction
Languages : en
Pages : 82
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Book Description
Explains currency devaluation, its causes, and its effects.
Author: James R. Owen
Publisher: Ashgate Publishing, Ltd.
ISBN:
Category : Business & Economics
Languages : en
Pages : 168
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Book Description
Illustrated by comparative case studies from Chile, Malaysia and South Korea, this book examines the impacts resulting from currency devaluation on major elements of a developing nation's export portfolio.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451954344
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
This paper develops a model of devaluation crises for an economy where foreign exchange restrictions lead to the emergence of a parallel market. The devaluation rule relates the size of the parity change to the spread between the official and parallel exchange rates. The mechanism that triggers the devaluation relates credit policy and the inflation tax. A credit expansion leads to an increase in the spread and possibly to a fall in inflation tax revenue, as agents switch away from domestic currency holdings. A devaluation reverses temporarily the process of erosion of the tax base if the associated fall in the premium raises the credibility of the new parity.
Author: Surjit S. Bhalla
Publisher: Peterson Institute
ISBN: 0881326518
Category : Business & Economics
Languages : en
Pages : 283
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Book Description
Experts have long questioned the effect of currency undervaluation on overall GDP growth. They have viewed the underlying basis for this policy--intervention in currency markets to keep the price of the home currency cheap--as doomed to failure on both theoretical and empirical grounds. Moreover, the view has been that overvalued currencies hurt economic growth but undervalued currencies cannot help in growth acceleration. A parallel belief has been that the real exchange rate--that is, a country's competitive ranking--cannot be affected by merely changing the nominal exchange rate. This view is grounded in the belief, and expectation, that inflation follows any devaluation of currency. Hence, the conclusion that the real exchange rate cannot be affected by policy. However, given China's remarkable performance in recent decades, this traditional view is being reexamined. China devalued its currency by large amounts in the 1980s and early 1990s; instead of inflation, it achieved high growth. Today, there is near-universal demand for China to significantly revalue its currency. This book examines the veracity of various propositions relating to currency misalignments, and their effect on various items of policy interest. The author subjects more than a century of global exchange rate management and growth outcomes to rigorous empirical analysis and demonstrates convincingly that a country can systematically devalue and yet prosper. The analysis helps in interpreting several phenomena, especially for the last three decades, which have witnessed high economic growth in developing countries, a widening of global imbalances, and a sharp increase in reserve accumulation, particularly among high-growth Asian economies. The book shows that these events are strongly linked via a consistent policy of currency undervaluation in Asian economies.
Author: Steven Gray
Publisher: ZeroNever
ISBN:
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
With devaluation comes a reduction in the value of a nation's currency. This is common knowledge. Also, it makes imports more expensive, with exports becoming more competitive. All things being equal, inflationary pressures increase with devaluation. This is due to the increase in the demand for exports and an increase in import prices. As much as currency devaluation has an effect on inflation, its impact on inflation is linked to several factors. Chief among them is the state of the nation’s economy. Devaluation of money is real, and just like death, you never know when it will come. However, there are things you can do to ensure that it does not affect you negatively. If you master some of them, you might never have to worry even in the face of the devaluation of your nation’s currency.
Author: Richard N. Cooper
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 38
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Book Description
Author: Alpo Willman
Publisher:
ISBN:
Category : Devaluation of currency
Languages : en
Pages : 44
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Book Description
Author: George S. Tavlas
Publisher: Springer Science & Business Media
ISBN: 1461562899
Category : Business & Economics
Languages : en
Pages : 247
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Book Description
ical) and to self-fulfilling currency crisis, respectively. Research stressing the former approach was pioneered by Krugman (1979) and Flood and Garber (1984). According to this line of research, the failure of governments to adopt domestic monetary and fiscal policies consistent with their stated exchange rate targets leads to a gradual diminution of reserves and eventually a stock adjustment that depletes reserves suddenly in one attack (Sachs, Tornell, and Velasco, 1996, page 47). The result is either a devaluation of the exchange rate or a switch to floating. Subsequent work of this genre has specified a number of other channels, in addition to that involving inconsistent and unsustainable monetary and fiscal policies, that can precipitate an attack: 1. Inconsistency between external and internal objectives. The stances of monetary and fiscal policies may be consistent with the authorities' exchange rate target, but domestic economic indicators (such as the unemployment rate) may be inconsistent with internal balance, resulting in pressures on the authorities to relax macroeconomic policies. Private agents, aware of this inconsistency, perceive an opportunity for profits from a currency devaluation and precipitate an attack. 2. Contagion effects. Prior to an attack on another currency (say that of country B), the market may view a country's (say, country A's) exchange rate as consistent with economic fundamentals and, thus, sustainable.
Author: Constantino Bresciani-Turroni
Publisher: Routledge
ISBN: 1135033218
Category : Business & Economics
Languages : en
Pages : 473
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Book Description
The Economics of Inflation provides a comprehensive analysis of economic conditions in Germany under the Great Inflation and discusses inflationary conditions in general. The analysis is supported by extensive statistical material. * For this translation the author thoroughly revised the original work * Includes an appendix on German economic conditions in the years following the monetary reform, 1923-24
Author: Milton Gilbert
Publisher: Philadelphia : University of Pennsylvania ; London : H. Milford
ISBN:
Category : Business & Economics
Languages : en
Pages : 192
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Book Description
