Exchange Rate Choices Of Microstates
Download and Read Exchange Rate Choices Of Microstates full books in PDF, ePUB, and Kindle. Read online free Exchange Rate Choices Of Microstates ebook anywhere anytime directly on your device. We cannot guarantee that every ebooks is available!
Exchange Rate Choices of Microstates
Author | : Patrick A. Imam |
Publisher | : International Monetary Fund |
Total Pages | : 48 |
Release | : 2010-01-01 |
Genre | : Business & Economics |
ISBN | : 1451962002 |
Download Exchange Rate Choices of Microstates Book in PDF, Epub and Kindle
In this paper we first explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks microstates face, their ability to better accommodate local preferences combined with a more integrated world economy probably explains why the benefits of independence have risen. We explain why microstates at independence have chosen either dollarization, currency board arrangements, or fixed exchange rates rather than more flexible forms of exchange rate systems. We then, using the Geweke-Hajvassiliou-Keane multivariate normal simulator, model empirically the determinants of each of the different fixed exchange rate regimes in microstates and analyze the policy implications.
Exchange Rate Choices of Microstates Related Books
Pages: 48
Pages: 252
Pages: 50
Pages: 46
Pages: 12